Resource Base Expanded Adjacent To Guadalupe

 

CHICAGO - Coeur Mining, Inc. reported an initial resource estimate for its high-grade underground Independence silver-gold deposit, located approximately 800 meters east of the Guadalupe underground mine currently in production at Coeur's Palmarejo silver-gold mine in Chihuahua, Mexico. The updated estimate was prepared with the assistance of Mine Development Associates (MDA, www.mda.com) of Reno, Nevada and includes data from 61 core drill holes totaling 27,000 meters.

Measured and indicated resources total approximately 1.9 million short tons grading 4.05 oz/ton of silver and 0.073 oz/ton of gold, for a total of 7.7 million ounces of silver and 138,000 ounces of gold, using a silver equivalent cutoff grade of 2.63 ounces per ton.

Inferred resources total approximately 526,000 short tons grading 2.48 oz/ton for silver and 0.045 oz/ton for gold, for a total of 1.3 million ounces of silver and 23,000 ounces of gold, using a silver equivalent cutoff grade of 2.63 ounces per ton.

2015 exploration drilling will focus on four priorities: Expand the Independencia resource, converting some to reserve status; Upgrade Guadalupe inferred resources to measured and indicated resources; Test Guadalupe potential at depth where the deposit remains open; and Drill two other known mineralized structures located between Guadalupe and Independence.

"This maiden resource at Independencia demonstrates the success of our efforts to identify additional high-grade mineralization near existing infrastructure in order to further boost Palmarejo's future cash flow," said Hans Rasmussen, Vice President of Exploration. "At the same cut-off grade used at Guadalupe, the silver and gold grades of this new resource are higher and we expect Independencia to grow as we continue drilling in 2015."