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Coeur reports initial reserve estimate at Silvertip, ups resources by 18%

Coeur Mining Inc. reported an initial proven and probable reserve estimate at its Silvertip silver-zinc-lead mine in British Columbia of 1.6 million tonnes, including 48.2 million silver equivalent contained ounces at an average grade of 930 g/t.

The company said Dec. 27 that the reserve includes about 15 million ounces of silver, 292.7 million pounds of zinc and 198.7 million pounds of lead.

An updated resource estimate showed an 18% increase in total resource since its acquisition in 2017 to measured and indicated resources of 28.4 million silver equivalent ounces at an average grade of 752 g/t.

The total capital costs are estimated at US$44 million, with an initial mine life of 4.5 years based on proven and probable reserves, which represent almost half of the total estimated resource.

The company declared commercial production at Silvertip in September.