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Americas Silver posts 250% rise in gold equivalent reserves after Pershing buy

Americas Silver Corp. said Sept. 5 that it posted a 250% yearly increase in total gold equivalent reserves as of June 30 to about 1.1 million ounces, resulting from its acquisition of Pershing Gold Corp., which owns the Relief Canyon gold mine in Nevada.

Total proven and probable gold reserves grew to 653,000 ounces contained in 27.2 million tonnes grading 0.75 g/t, while silver reserves swelled 45% to 37.1 million ounces contained in 33.3 Mt grading 35 g/t.

First gold pour at the Relief Canyon mine is on track to take place in December.

Meanwhile, the miner rebranded as Americas Gold and Silver Corp., reflecting the increasing importance of gold in its asset portfolio.