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Silver reserves down 9% at Americas Silver's Cosala, Galena mines

An updated reserves estimate for Americas Silver Corp.'s Cosala mine in Mexico and its Galena Complex in Idaho indicated a 9% decrease in silver reserves to 25.6 million ounces.

Proven and probable reserves at Cosala and Galena total 4.2 million tonnes grading 191 g/t of silver, 0.06% copper, 2.71% lead and 2.78% zinc.

The company said Oct. 11 that the update also includes resources at its optioned San Felipe project in Mexico.

Silver contained in measured and indicated resources increased 21% to 70.1 million ounces, while inferred silver decreased 23% to 28.3 million ounces.

Americas Silver said the increase in measured and indicated silver resulted primarily from including the San Felipe project, while the decrease in inferred silver was mainly attributed to upgrades at the Zone 120 deposit.

Measured and indicated resources are estimated at 15.4 million tonnes grading 142 g/t of silver, 0.18% copper, 1.61% lead and 2.33% zinc. Inferred resources are pegged at 6.1 million tonnes grading 145 g/t of silver, 0.16% copper, 2.05% lead and 1.84% zinc. Resources were reported exclusive of reserves.

Americas Silver is evaluating the economic viability of jointly developing the El Cajon and Zone 120 deposits at Cosala, and the analysis is expected to be completed in the fourth quarter.