Pan American Silver Corp. said Sept. 4 that total proven and probable ore reserves, as of June 30, grew to 557.2 million ounces of silver and 5.1 Moz of gold contained in 272.5 million tonnes grading 77 g/t silver and 0.63 g/t gold.
The increase in ore reserves — doubled for silver reserves and tripled for gold — was attributed to the close of its US$1.07 billion acquisition of Tahoe Resources Inc. in February.
Measured and indicated resources totaled 797.0 Moz of silver and 10.6 Moz of gold contained in 1.04 billion tonnes grading 123 g/t silver and 0.38 g/t gold.
During the first half of the year, the miner completed 40% of its planned drilling for the full year at its operations, with plans to accelerate exploration drilling in the second half of the year.
An initial resource estimate for the polymetallic skarn discovery at the La Colorada mine, part of the La Arena property in Peru, will be released by the end of this year.
