This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Coeur D'Alene's Palmarejo at 10.92 mt 2.15 g/t Au P+P 2009-11-04 16:44 ET - News Release Mr. Donald Birak reports COEUR REPORTS APPROXIMATELY 40% INCREASE IN BOTH SILVER AND GOLD RESERVES IN EXPANDING PALMAREJO DISTRICT
Coeur D'Alene Mines Corp. has confirmed a 40-per-cent increase in silver and gold reserves at
its Palmarejo silver and gold mine in Chihuahua, Mexico, to a total of
88.6 million ounces of silver and 1.1 million ounces of gold, based on
its continuing drilling at the nearby Guadalupe deposit.
The 25.8 million ounces of new silver reserves and 315,000 ounces of new
gold reserves represent the initial underground ore reserves at
Guadalupe, located approximately six kilometres southeast of the current
Palmarejo mine and processing facilities. The company plans to continue
drilling at Guadalupe and anticipates commencement of underground
development of Guadalupe's reserves in 2010. Ore from Guadalupe would
then be expected to begin contributing to Palmarejo's silver and gold
production in 2011. At the Palmarejo project, there were 63.6 million
ounces of silver reserves and 756,000 ounces of gold reserves reported
at the beginning of this year.
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