About
Pan American Silver provides enhanced exposure to silver through large silver reserves and catalysts to grow silver production.
Technical & Resource Information
| Name and quantity | Grade | Contained Metal | |||||
|---|---|---|---|---|---|---|---|
| Name | Tonnes (Mt) | Ag (g/t) | Pb (%) | Zn (%) | Ag (Moz) | Pb (Mt) | Zn (Mt) |
| Indicated Resources | 265.4 | 36 | 1.37 | 2.85 | 309 | 3.6 | 7.6 |
| Inferred Resources | 61.7 | 30 | 0.95 | 2.55 | 59 | 0.6 | 1.6 |
Please see the notes to the mineral resource estimate for important information and assumptions regarding the mineral resource estimate.
Exploration Results
Pan American’s exploration strategy is primarily focused on targeted near-mine exploration to replace and grow our mineral reserves and mineral resources.
Investor Day 2024 – La Colorada Skarn Exploration Update
Technical Study Results
On December 18, 2023, Pan American announced the Preliminary Economic Assessment of the La Colorada Skarn project. The video and presentation slides that accompanied the conference call for the announcement are provided below. Please refer to the La Colorada NI 43 101 Technical Report with an effective date of December 18, 2023 for details.
Video of Skarn Geology
Presentation Slides
*Notes:
- The effective date of the mineral resources estimate is June 30, 2024.
- Estimation and reporting of mineral resources were carried out in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) guidelines.
- Mineral resources have been classified into indicated and inferred confidence categories.
- Mineral resources have reasonable prospects for eventual economic extraction demonstrating sufficient spatial continuity of mineralization constrained within a potentially mineable shape. Mineral resources that are not mineral reserves do not have demonstrated economic viability. No mineral reserves are reported at this time for the La Colorada Skarn project.
- Prices used to report mineral resources were: $22 per ounce of silver, $2,800 per tonne of zinc and $2,200 per tonne of lead.
- An estimated NSR (in US$/t) was calculated using metallurgical recoveries of 84.9% Ag, 84.3% Pb and 93.7% Zn with mineral concentrate qualities of 61% Pb in lead concentrate and 59% Zn in zinc concentrate, obtained from metallurgical testing. Estimates for transport, payability and refining/selling costs, based on experience and long-term views of the marketing, treatment and refining of these types of mineral concentrates, were included.
- Reasonable prospects for eventual economic extraction were assessed by determining the total in-situ tonnes and metal grades constrained inside volumes that are based on a SLC mining method considering operating and sustaining capital cost estimates of $45/t. To determine the constraining SLC shapes an initial elevated cutoff value of $50/t NSR was applied. Then geotechnical, geometry and caving rules were applied to ensure practical mining shapes and sequences were achieved. The resulting constraining shapes were then considered to be practical mining outlines. The tonnes and grades are inclusive of the must-take low grade material within the volume. No other mining recovery, ring recovery, dilution or mineral losses have been applied.
- This mineral resource estimate was prepared under the supervision of, or was reviewed by, Christopher Emerson, FAusIMM, Vice President Exploration and Geology, who is a Qualified Person as that term is defined in NI 43-101.
- Grades are shown as contained metal before mill recoveries are applied. The Company has undertaken a verification process with respect to the data disclosed in this news release.
- A total of 376 diamond drill holes with a total length of 314,930 metres were used in the geological interpretation and resource estimate. Several old historic drill holes were included in the modeling. Drilling of the La Colorada Skarn deposit has been completed from both surface and underground drill platforms.
- All drill hole samples used in the mineral resource estimate have been previously reported in news releases dated October 23, 2018, February 21, 2019, May 8, 2019, August 1, 2019, October 30, 2019, February 13, 2020, August 4, 2020, May 12, 2021, November 10, 2021, February 24, 2022, May 9, 2022, November 1, 2022, May 2, 2023, December 5, 2023, and April 7, 2024.