Our 2019 outlook benefits from the many operational improvements being implemented at each site. Looking ahead, we see significant upside in the long-term production profile of the company from the restart of Santa Luz and the expansion at Los Filos, which, once financed and constructed, have the capacity to take our consolidated production to +700,000 oz per year.
Kootenay President & CEO, James McDonald stated, “We are very pleased with results from mapping and sampling recently completed at Copalito. This Program not only returned numerous high-grade silver values, but also found significant gold values and extended the mineral strike length of all known primary veins. Furthermore, we discovered parallel veins, increasing the dimensional potential of the mineralized system. Copalito is a rare opportunity of an undrilled vein swarm with the potential for a high-grade discovery, which can have immediate impact in the value of the Company even with low silver prices. It is the second such project acquired in 2018 with the other being Columba.”
“2018 was a pivotal year for Pan American with low cash costs, strong cash flow, continued improvements at Morococha and Huaron, and positive impact to the bottom line from our La Colorada and Dolores expansions,” said Michael Steinmann, President and Chief Executive Officer of Pan American. “In addition, we made an important skarn discovery at La Colorada and announced the transformational acquisition of Tahoe. The acquisition is expected to close at the end of February, and we are looking forward to updating our forecast for 2019 in the second quarter to include the Tahoe assets.”
Bradford Cooke, CEO of Endeavour, stated, We continued to enjoy exploration success in 2018, primarily at Guanacevi, Terronera and Parral. Mineral Reserves increased at Terronera due to infill drilling at depth and the inclusion of the high-grade La Luz vein. Mineral Reserves also increased at Guanacevi, as Milache was incorporated into the mine plan, partly offset by reduced Mineral Reserves at El Cubo. Mineral Resources increased sharply at Parral thanks to drilling of the San Patricio vein system, partly offset by reduced Mineral Resources at El Cubo.
The 2018 exploration program at Mercedes was focused on the expansion of high-grade, near-infrastructure targets that may be upgraded to mineral resources and mineral reserves while also supporting the development of new deposits to increase mining flexibility and productivity. Toward this end, 280 greenfield and brownfield drillholes representing 40,720 m were drilled.
Orex’s President, Gary Cope says, “The importance of skarn-style mineralization in Mexico is on the rise, as shown by new discoveries at Pan Americans La Colorada Mine and the ongoing work of Southern Silvers Cerro de las Minitas project. Orexs San Luis del Cordero, like both of these projects as well as the famous San Martin Mine in Zacatecas, are polymetallic skarns in the Mesa Central of the prolific Silver Trend of Mexico.”
Tawn Albinson, the President of Prospero commented: “Our 2018 program appears to have successfully cut the upper parts of a series of blind epithermal veins hosting silver and gold mineralization. This is particularly exciting given how close the project is to the historic Pachuca-Real Del Monte camp. The current Phase 2 program is designed to follow up on the 2018 hits and to drill test a number of additional altered structures that weren’t tested in Phase 1. I look forward to reporting on the drilling during Q1.”
The project area is previously unexplored with only minor historic artisanal-scale pitting of surface outcrops known. Radius geologists discovered the project during regional prospecting surveys. Epithermal silver/gold (plus significant copper, zinc and lead) mineralization has been sampled by Radius in several veins, vein breccias and disseminated zones over a 9km N/W trend. In total 83 prospecting rock chip samples were collected from the property that range from 0.001 to 16.5 g/t Au and 2 to 2030 g/t Ag. Additionally, several zones have accessory copper 0 to 3.79%, Zinc 0 to 13.9% and lead 0 to 3.45%.
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