Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan
American" or the "Company") released new exploration drill results
for its Jacobina, El Peñon, La Colorada, Huarón and Timmins
properties and for its La Colorada Skarn project. These drill
results demonstrate continued potential for organic growth of
mineral reserves and mineral resources in and around the Company's
operations.
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La Colorada Skarn: Longitudinal Section
“A” (Graphic: Business Wire)
“The recent exploration drilling at Jacobina continues to
reflect the geological potential to expand the resource base close
to existing mine infrastructure, specifically in the Maricota and
João Belo Sul sectors, both of which have the potential to add
higher margin ounces. The large mineral reserve and mineral
resource base, together with a study underway to optimize the
economic life of mine, underpin the growth potential and strong
economics of the Jacobina property,” said Christopher Emerson, Pan
American’s Vice President of Exploration and Geology. “We also
continue to discover new targets and build new resources at our
other mines, such as at La Colorada, El Peñon, Huarón and Timmins.
In addition, multiple mineralised intercepts of over 100 metre
widths have further expanded and added confidence to the large
mineralisation footprint at the La Colorada Skarn project,
demonstrating the world-class nature of the deposit.”
Pan American's drill program in 2023 is focused on near-mine
exploration and resource conversion throughout its portfolio of
operating mines. A total of 373,780 metres has been drilled during
the ten months ended October 31, 2023, out of a 450,000 metre drill
program planned for 2023. The mineral reserves and mineral
resources update as at June 30, 2023, which was released on August
24, 2023, reflects only a portion of the 2023 drill program. The
Company plans to incorporate the results of the full 2023 drill
program, including results for the Company's other assets not
referenced in this news release, in a mineral reserve and mineral
resource update as at June 30, 2024.
EXPLORATION HIGHLIGHTS
Jacobina mine, Brazil:
See Table 1 of this news release for drill result highlights
- Continued success in defining mineralisation outside the João
Belo Sul mineral resource. Step-out drilling approximately 200
metres to the north returned 4.85 metres at 14.69 g/t Au,
including 1.15 metres at 59.25 g/t Au and 7.70 metres at 4.83
g/t Au, including 3.36 metres at 7.45 g/t Au
(drill hole JBS00041). These results confirm continuity and
higher-grades along a 700 metre strike between João Belo Sul and
João Belo mine.
- Exploration drill results at Maricota, close to current
infrastructure, show potential for future mineral resource addition
over an approximate 2,000 metre strike length by 1,000 metre depth
profile, with intercepts at higher-grade than average resource
grade, such as 4.69 metres at 23.45 g/t Au, including 1.26
metres at 40.90 g/t Au and 1.52 metres at 35.17 g/t Au (drill
hole MRCEX00004).
El Peñon, Chile:
See Table 2 of this news release for drill result highlights
- Nine drillholes within the dacite intrusive unit north of the
Pampa Campamento structure returned higher grades outside of the
current mineral resource and mineral reserve footprint. Highlights
include (estimated true widths): 1.20 metres at 114.50 g/t Au
and 72 g/t Ag (drill hole UIP0145), 1.80 metres at 28.90 g/t
Au and 205 g/t Ag (drill hole UIP0146) and 1.74 metres at
19.14 g/t Au and 230 g/t Ag (drill hole UIP0149).
Mineralisation is defined over an approximate 150 metre vertical
extent and remains open both along strike and down plunge to the
north.
- At El Valle, drilling confirmed the extension of mineralisation
in the El Valle vein and parallel El Valle -30 splay, located
northwest of Pampa Campamento. Mineralisation remains open to the
south for further expansion within the favourable rhyolite
stratigraphy. Drill highlights include 2.30 metres at 46.50 g/t
Au and 805 g/t Ag and 0.80 metres at 40.70 g/t Au and 1,775
g/t Ag (drill hole SEV0004).
La Colorada mine, Mexico:
See Table 3 of this news release for drill result highlights
- Exploration drilling on the east extension of the NC2 vein has
shown high-grade silver intercepts. Drill highlights from 15,873
metres drilled this year include: 1.05 metres at 2,804 g/t Ag,
1.59% Pb and 1.33% Zn (drill hole U-75-23) and 1.33 metres
at 4,067 g/t Ag, 0.76% Pb and 1.82% Zn (drill hole S-84-23).
The high-grade zone is now defined by 50 metre-grid drill spacing,
from the 498 to 588 level (approximately 100 metre vertical) over a
200 metre strike length. This area remains open to the northeast
and to depth with ongoing drilling focused on definition of further
extensions.
La Colorada Skarn project, Mexico:
See Table 4 of this news release for drill result highlights
- More than 280,000 metres have been drilled on the project, with
97,000 metres completed since the last mineral resource update
issued on September 14, 2022. Recent drilling has focused on the
902 skarn zone with 24 infill drill holes, which follow up on
mineralisation reported in prior news releases dated May 2, 2023,
November 1, 2022, and July 21, 2022. Results confirm wide zones of
high-grade silver mineralisation, as demonstrated by 332.40
metres at 144 g/t Ag, 4.11% Pb and 4.78% Zn, including 89.85 metres
at 461 g/t Ag, 10.63% Pb and 11.05% Zn (drill hole
D-93-09-23).
- Exploration drilling successfully extended the 902 skarn zone
100 metres to the northwest. Highlights from extensional drilling
in this area include 161.10 metres at 96 g/t Ag, 1.86% Pb, and
3.00% Zn (drill hole U-43-23).
Huarón mine, Peru:
See Table 5 of this news release for drill result highlights
- In 2023, drilling and mine sill development focused on the
Horizonte zone, an emerging shallow multiple vein system located
southeast of the core mine area that is becoming an important
production area. Of the 14,510 metres drilled at Huarón, 5,545
metres (38%) were focused on the Horizonte zone. Intercepts from 10
drill holes within three structures in the Horizonte zone all
returned positive results that will contribute to future resource
models.
Timmins mine (Whitney Project), Canada:
See Table 6 of this news release for drill result highlights
- Drilling in 2022 (39 holes totaling 7,849 metres) and 2023 (26
holes totaling 5,979 metres) tested remnant mineralisation in both
unmined veins and wall rock adjacent to historic mined stopes,
confirming current resources in Hallnor and historic resources in
Broulan Reef zone, 1.5 km to the west. The Hallnor zone is
referenced in Pan American's mineral reserves and mineral resources
update as at June 30, 2023, under the name of Whitney, a joint
venture (82.5% Pan American / 17.5% Newmont Corporation) in which
Pan American is the operator. The Hallnor zone is estimated to
contain 586,000 ounces of measured and indicated gold mineral
resource and 141,400 ounces of inferred gold mineral resource.
- Significant assays in the Hallnor zone include: 1.20 metres
at 145.73 g/t Au (drill hole TW22-719), 5.80 metres at 26.64
g/t Au and 3.10 metres at 9.97 g/t Au (drill hole
TW22-712), 16.60 metres at 5.39 g/t Au (drill hole
TW22-705A), 8.00 metres at 6.76 g/t Au (drill hole TW22-709)
and 4.60 metres at 10.43 g/t Au (drill hole TW22-694)
(all reported over core lengths).
- Significant assays from the drilling at Broulan Reef include:
10.00 metres at 38.11 g/t Au (drill hole TW23-747), 8.00
metres at 6.39 g/t Au (drill hole TW23-740), 9.00 metres at
6.38 g/t Au (drill hole TW23-745), 9.0 metres at 3.45 g/t
Au (drill hole TW23-743) and 3.00 metres at 4.71 g/t Au
(drill hole TW23-730) (all reported over core lengths).
PROPERTY DESCRIPTION AND DRILL RESULT HIGHLIGHTS
Jacobina, Brazil
The Jacobina mine is an underground paleo placer gold mine
located in the state of Bahia in northeastern Brazil. The mine has
a strong track record of mineral reserve and mineral resource
replacement and growth. The mine complex extends over eight
kilometres with resources and exploration targets over a 14
kilometre trend where gold mineralisation is hosted in conglomerate
reefs that remain open to depth and along strike in multiple areas.
The Jacobina property consists of a mining claim, mining
concessions and exploration permits over 155 kilometres in a
north-south direction and five to 25 kilometres in an east-west
direction.
Brownfield exploration drilling totaled 44,006 metres with
drilling completed largely at the João Belo Sul, Maricota, João
Belo Norte, Moro do Vento, and Serra do Corrego zones. Recent
Jacobina exploration results demonstrate upside potential for
mineral reserve and mineral resource growth.
Drill results at João Belo Sul, together with the mineral
reserves and mineral resources update as at June 30, 2023 that
reported an additional 215,000 ounces of indicated gold mineral
resource and 81,000 ounces of new inferred gold mineral resource,
as well as the addition of 58,000 ounces of probable mineral
reserve, affirm the potential for continued mineral reserve and
mineral resource growth. Recent infill and exploration drilling at
João Belo Sul confirm mineralisation grade and continuity along
strike and to depth, particularly along higher-grade ore
shoots.
Maricota represents an opportunity to add higher-grade mineral
resources close to existing mine infrastructure at the northern end
of the Jacobina mine. Exploration drilling, initiated in 2022,
continues to extend mineralisation along a strike length greater
than two kilometres and to depth, where historic drill results
include 9.72 g/t of gold over 1.80 metres (drill hole MVTEX22) and
12.28 g/t of gold over 2.39 meters (CANEX006). The Company is
working to complete an initial mineral resource estimate for
Maricota in 2024.
Table 1: Jacobina Mine
The following table provides infill and exploration drill result
highlights for the João Belo Sul and Maricota Zones of the Jacobina
mine. Full infill and exploration drill results not included in
this table, together with cross sections and plans, are available
at https://panamericansilver.com/operations/exploration/.
Hole
Sector
From (m)
To (m)
Interval (m)
Est. True Width (m)
Au g/t
JBS00036
João Belo Sul
162.00
165.50
3.50
3.36
75.12
JBS00036
Includes
163.00
164.00
1.00
0.96
255.65
JBS00040
João Belo Sul
231.50
237.00
5.50
3.63
2.93
JBS00040
João Belo Sul
368.56
375.71
7.15
5.58
3.83
JBS00040
Includes
373.46
375.71
2.25
1.75
8.60
JBS00040
João Belo Sul
377.00
382.00
5.00
3.90
3.20
JBS00041
João Belo Sul
412.20
418.50
6.30
4.85
14.69
JBS00041
Includes
412.50
414.00
1.50
1.15
59.25
JBS00041
João Belo Sul
424.00
434.00
10.00
7.70
4.83
JBS00041
Includes
429.63
434.00
4.37
3.36
7.45
JBS00043
João Belo Sul
393.09
411.50
18.41
12.37
2.43
JBS00043
Includes
405.38
409.50
4.12
2.77
4.44
JBS00043
João Belo Sul
432.75
439.73
6.98
4.69
2.82
JBS00043
Includes
435.50
439.73
4.23
2.84
3.69
JBS00045
João Belo Sul
316.49
323.00
6.51
6.32
2.33
JBS00045
Includes
318.50
323.00
4.50
4.37
3.10
JBS00045
João Belo Sul
422.50
428.00
5.50
5.34
4.04
JBS00048
João Belo Sul
470.50
473.42
2.92
2.53
4.42
JBS00050
João Belo Sul
301.95
308.50
6.55
5.59
3.10
JBS00050
Includes
301.95
304.73
2.78
2.36
5.44
JBS00050
João Belo Sul
440.50
447.73
7.23
6.03
2.16
JBS00050
João Belo Sul
458.45
466.60
8.15
6.47
2.54
JBS00053
João Belo Sul
127.00
132.26
5.26
4.95
2.45
JBS00053
João Belo Sul
186.00
196.50
10.50
9.77
1.73
JBS00053
João Belo Sul
305.43
309.50
4.07
3.79
3.75
MRCEX00004
Maricota
541.35
547.50
6.15
4.69
23.45
MRCEX00004
Includes
541.35
543.00
1.65
1.26
40.90
MRCEX00004
Includes
544.50
546.50
2.00
1.52
35.17
MRCEX00008
Maricota
106.27
109.94
3.67
3.20
5.88
MRCEX00008
Maricota
112.10
123.00
10.90
9.60
1.67
MRCEX00008
Maricota
471.57
477.00
5.43
4.13
4.68
MRCEX00008
Maricota
553.86
567.50
13.64
10.96
3.58
MRCEX00009
Maricota
212.00
219.00
7.00
2.45
3.05
El Peñon, Chile
El Peñon is a large, high-grade multi-vein system located in
northern Chile. Exploration drilling totaling 48,407 metres, mainly
in the core mine area, includes 13,805 metres of infill drilling to
convert inferred mineral resources to indicated mineral resources,
and 33,748 metres of exploration drilling to define new near-mine
inferred mineral resources. Exploration drilling was directed at
expanding the mineralisation envelope along multiple core mine
structures, most notably Pampa Campamento and El Valle veins in the
southwest mine sector. Both areas remain targets for drilling in
2024 and are expected to contribute new mineral resources for the
mineral reserve and mineral resource update as at June 30,
2024.
Pampa Campamento is currently one of the most important veins
contributing to production at El Peñon. Infill and exploration
drilling have extended mineralisation towards the north within an
intrusive unit. Step out drilling north of current resources below
the 1,400 metre level has extended mineralisation approximately 150
metres vertically. Mineralisation remains open in this area, both
down plunge and along strike, as well as in splays such as Pampa
Campamento -35, Pampita and Pampa Campamento Oeste.
At El Valle, infill and exploration drilling confirmed
mineralisation in the El Valle vein and parallel El Valle -30
splay, where drill holes returned higher grades over horizontal
widths ranging up to 2.50 metres. The zones remain open to the
south within the favourable rhyolite stratigraphy.
Pan American is currently designing a drill program to address
the reserve reconciliation issue identified in 2023.
Table 2: El Peñon Mine
The following table provides infill and exploration drill result
highlights for the Pampa Campamento and El Valle vein systems of
the El Peñon mine. Full infill and exploration drill results not
included in this table, together with longitudinal sections and
plans, are available at
https://panamericansilver.com/operations/exploration/.
Hole
Vein
From (m)
To (m)
Interval (m)
Est. True width (m)
Au (g/t)
Ag (g/t)
UIP0135
Pampa Campamento
270.50
272.79
2.29
1.60
9.10
96
UIP0133
Pampa Campamento
255.95
256.88
0.93
0.80
12.37
49
UIP0137
Pampa Campamento
294.03
296.93
2.90
1.80
21.30
66
UIP0143
Pampa Campamento
304.07
306.05
1.98
1.29
20.12
73
UIP0145
Pampa Campamento
236.11
238.00
1.89
1.20
114.50
72
UIP0146
Pampa Campamento
261.33
264.32
2.99
1.80
28.90
205
UIP0149
Pampa Campamento
253.00
255.20
2.20
1.74
19.14
230
UIP0147
Sistema Pampa Campamento
224.77
225.98
1.21
0.80
5.55
223
UEP0055
Pampa Campamento (-35)
298.62
299.64
1.02
0.70
13.60
33
UEP0056
Pampa Campamento (-35)
254.20
256.20
2.00
1.10
5.80
20
UEP0057
Pampa Campamento
342.71
344.20
1.49
1.10
5.10
100
SIP0040
Pampa Campamento
635.20
637.95
2.75
1.60
8.09
113
SIP0040
Pampa Campamento(-10)
640.56
642.88
2.32
1.10
4.14
209
UIP0086
Pampa Campamento Oeste
50.64
51.25
0.61
0.66
7.10
243
UIP0103
Pampa Campamento Oeste
62.12
62.90
0.78
0.67
21.60
368
UIP0105
Pampa Campamento
343.38
345.88
2.50
1.20
8.67
235
UIP0106
Pampita
99.60
100.00
0.40
0.32
20.70
1372
UIP0112
Pampa Campamento
365.67
366.75
1.08
0.76
20.74
1020
UIP0113
Pampita
157.87
158.30
0.43
0.40
38.10
20
UIP0114
Pampa Campamento(-35)
217.42
219.00
1.58
1.10
10.65
237
UIP0114
Pampa Campamento
371.40
373.00
1.60
0.86
9.80
31
UIP0119
Pampa Campamento
333.66
335.88
2.22
1.28
20.25
499
UIP0120
Pampa Campamento Oeste
50.94
52.23
1.29
0.80
10.20
287
UIP0124
Pampa Campamento(-35)
249.00
251.10
2.10
1.40
15.35
339
UIP0127
Pampa Campamento(-35)
258.45
260.23
1.78
0.70
15.27
675
UEP0044
Pampa Campamento
165.60
166.85
1.25
0.90
134.20
248
UIV0050
El Valle
201.85
204.20
2.35
2.50
5.50
116
UIV0051
El Valle
205.32
206.61
1.29
1.30
8.60
30
UIV0054
El Valle
164.80
166.80
2.00
1.30
15.88
543
UIV0056
El Valle
227.20
229.00
1.80
1.70
6.00
334
SEV0004
El Valle (-30)
228.00
231.00
3.00
2.30
46.50
805
SEV0004
El Valle
269.65
270.86
1.21
0.80
40.70
1775
UEV0031
El Valle
257.00
258.56
1.56
1.69
5.30
252
La Colorada, Mexico
The La Colorada mine is a silver-rich polymetallic mine located
in the state of Zacatecas, Mexico. A total of 108 holes for 29,569
metres were drilled on the vein targets (NC2, Veta 3, Recompensa,
Amolillo and minor splays) through the mine from both surface and
underground with the focus on infill drilling. Exploration success
was reported on the high-grade east extension NC2 vein where 39
holes for 15,873 metres were drilled.
Most of the drill holes on NC2 extend the high-grade vein areas
to the east, which are now drilled at roughly 50 metre spacing. The
high-grade zone is defined from the 498 to 588 level (approximately
100 metre vertical) over a 200-metre strike length. This area
remains open to the northeast and to depth with ongoing drilling
focused on definition of further extensions.
Table 3: La Colorada Mine
The following table provides the drill result highlights for the
La Colorada mine. Full drill results not included in this table,
together with cross sections and plans, are available at
https://panamericansilver.com/operations/exploration/.
Hole No.
From (m)
To (m)
Interval (m)
True Width (m)
Ag g/t
Pb %
Zn %
U-31-23
214.35
215.75
1.40
1.13
1181
1.02
3.25
U-38-23
219.15
219.90
0.75
0.58
160
1.70
14.91
U-47-23
188.45
190.30
1.85
0.99
385
5.90
15.09
U-49-23
207.40
208.65
1.25
0.96
976
1.15
2.70
U-53-23
228.05
231.05
3.00
2.09
675
1.93
5.77
U-56-23
262.80
264.85
2.05
1.74
320
5.89
15.57
S-73-23
711.20
713.10
1.90
1.33
1455
3.43
1.26
U-75-23
242.00
243.40
1.40
1.05
2804
1.59
1.33
U-77-23
266.95
268.10
1.15
0.98
393
6.15
7.50
U-83-23
230.25
232.50
2.25
1.89
226
0.44
2.92
S-84-23
666.50
668.20
1.70
1.33
4067
0.76
1.82
S-95-23
615.10
616.00
0.90
0.51
792
0.59
1.39
S-102-23
678.00
679.10
1.10
0.95
909
2.26
5.72
S-105-23
611.20
613.60
2.40
1.83
236
0.48
1.25
U-106-23
234.70
237.50
2.80
0.93
69
4.18
7.79
U-114-23
329.70
331.20
1.50
0.84
370
1.08
4.20
S-115-23
693.85
695.35
1.50
1.25
349
3.02
7.61
S-123-23
648.95
652.00
3.05
2.58
1171
1.04
0.81
La Colorada Skarn, Mexico
The La Colorada Skarn deposit was discovered in 2018, and is
located at depth adjacent to the La Colorada polymetallic mine area
in Zacatecas, Mexico. The skarn zone extends from 900 to 1,800
metres below the surface and comprises three distinct bodies (901
main zone, 902 West zone, 903 East zone).
Exploration drilling has continued to define and expand the
current resource. Since the last mineral resource update provided
on September 14, 2022, a total of 97,000 metres has been drilled
with continued exploration success in expanding mineralisation
northwest of ore body 902 while adding infill definition to the
high-grade portion of the deposit (see news release dated July 21,
2022). An initial economic study of the La Colorada Skarn project
will be released in the fourth quarter of 2023.
A total of 44 new infill and exploration drill holes covering
43,337 metres were completed. This news release includes 34 holes
for 33,751 metres drilled since the last drill results update
issued on May 2, 2023.
Recent drilling has focused on definition of the 902 skarn zone
with 24 infill drill holes designed to follow up on mineralisation
reported in news releases dated May 2, 2023, November 1, 2022 and
July 21, 2022. Results confirm wide zones of high-silver grade
mineralisation highlighted by drill holes D-93-09-23 and D-05-01-23
(see table below for assays). This drilling confirms the high-grade
nature of the silver mineralisation, which is now defined by more
than 35 drill holes on a 40-metre spaced grid over a strike length
of 250 metres.
Exploration drilling also successfully extended 902 ore body
mineralisation 100 metres to the northwest with drill hole U-43-23
(see table below for assays).
Table 4: La Colorada Skarn Project
The following table provides infill and exploration drill result
highlights for the La Colorada Skarn deposit. Full infill and
exploration drill results not included in this table, together with
cross sections and plans, are available at
https://panamericansilver.com/operations/exploration/.
Hole No.
Type
From (m)
To (m)
Interval (m)
Ag g/t
Pb %
Zn %
D-05-01-23
High grade infill
984.30
1125.95
141.65
78
3.96
5.92
Include
1057.00
1125.95
68.95
140
7.57
11.61
And
1400.30
1597.85
197.55
51
1.83
6.87
D-16-01-23
Infill
1376.65
1549.35
172.70
58
1.55
1.79
D-93-07-23
Infill
1071.50
1431.55
360.05
53
3.68
3.43
D-93-08-23
Infill
1166.95
1495.40
328.45
71
2.57
3.79
D-93-09-23
Infill
1025.20
1357.60
332.40
144
4.11
4.78
Include
1131.20
1221.05
89.85
461
10.63
11.05
D-96-13-23
Infill
1077.70
1517.20
439.50
72
2.13
3.27
D-96-14-23
High grade infill
1333.85
1552.00
218.15
41
1.04
2.57
D-96-15-23
Infill
1201.25
1411.80
210.55
55
3.02
4.05
U-103-22
Infill
723.35
997.30
273.95
82
2.85
3.26
U-124-22
Infill
446.70
726.10
279.40
45
2.75
4.60
Include
543.55
723.15
179.60
59
3.81
6.37
U-19-23
High grade infill
414.95
882.35
293.15
27
0.55
3.19
Include
825.95
882.35
56.40
31
0.09
12.86
U-28-23
Infill
540.00
970.05
430.05
28
1.17
4.00
U-30-23
High grade infill
666.75
818.05
151.30
38
2.31
5.98
U-43-23
High grade infill
755.20
916.30
161.10
96
1.86
3.00
U-44-23
Infill
513.40
954.45
441.05
25
1.12
2.97
U-70-23
Infill
558.15
963.90
405.75
37
1.16
2.49
All intervals reported over core
lengths
Huarón, Peru
The Huarón mine is a polymetallic (Zn-Pb-Ag-Cu) deposit located
in the Cerro de Pasco Department of central Peru. Drilling in 2023
focused on brownfield extensions with 71 holes totaling 14,510
metres. Drilling aimed to define new inferred mineral resources on
principal structures in the lower portion of the mine (Tapada vein)
as well as the near surface Horizonte zone, an emerging shallow
multiple vein system southwest of the core mine area. A large
portion of the new resources is defined by sill development
(development on the vein structure) in the Cuerpo Andres, Maria,
Lucero and other splays southeast of the main mine.
Of the 11 drill holes totaling 1,730 metres completed on the
Tapada vein, four holes are extension holes that define high-grade
areas, now drilled at roughly 45 to 50 metre spacing. The drilling
in 2023 confirms extension of mineralisation above level 0 (4,000
masl) and for at least 50 metres below the deepest mine development
drift. The Tapada zone remains open to depth, and to the east and
west where current drilling continues to test further vein
extensions.
In the Horizonte zone, 21 holes covering 5,545 metres were
drilled. Intercepts from 10 drill holes within three structures
have all returned positive results that will contribute to future
resource models.
On the Cuerpo Andres vein, 11 holes covering 3,756 metres were
completed with four holes drilled as extensions in the high-grade
areas. Drilling at roughly 45 to 50 metre spacing in the Cuerpo
Andres zone confirms extension of mineralisation 25 metres below
the lowest mine development drift.
Sill development within the main structures in the Horizontes
zone has generated positive results that are expected to convert to
new resources. Channel sampling using over 350 individual samples
within 184 channels over a cumulative strike length of 415 metres
of sill development on the Maria splay, Lucero, Cuerpo Andes and
Ochentayuno structures averaged 2.92 metres at 246 g/t Ag, 4.9% Pb,
5.7% Zn.
Table 5: Huarón Mine
The following table provides infill and exploration drill result
highlights from the medium, lower and Horizonte sectors of the
Huarón mine. Full drill and channel sampling results not included
in this table, together with cross sections and plans, are
available at
https://panamericansilver.com/operations/exploration/.
Hole No
Vein
Zone
From (m)
To (m)
Interval (m)
Est. True Width (m)
Ag g/t
Cu%
Pb%
Zn%
DDH-U-058-23
Cuerpo Andres
Horizonte
309.50
312.40
2.90
1.30
246
0.12
5.13
3.91
DDH-U-061-23
Cuerpo Andres
Horizonte
38.20
39.30
1.10
0.94
261
0.01
6.40
4.36
DDH-U-007-23
Cuerpo Andres
Horizonte
218.05
219.20
1.15
1.09
191
0.04
6.39
4.57
DDH-U-034-23
Cuerpo Andres
Horizonte
331.40
333.80
2.40
1.13
195
0.06
3.86
2.99
DDH-U-007-23
Maria Ramal
Horizonte
138.35
144.00
5.65
3.55
196
0.04
2.83
2.78
DDH-U-010-23
Maria Ramal
Horizonte
125.45
128.80
3.35
2.97
133
0.04
3.27
5.11
DDH-U-042-23
Maria Ramal
Horizonte
96.80
100.35
3.55
3.49
150
0.06
3.72
8.91
DDH-U-045-23
Maria Ramal
Horizonte
107.20
107.90
0.70
0.60
919
0.08
21.20
6.97
DDH-U-068-23
Cometa Ramal
Horizonte
341.40
344.50
3.10
2.78
174
0.07
5.31
8.50
DDH-U-077-23
San Pedro
Medium
1.95
6.85
4.90
4.89
173
0.06
2.69
4.15
DDH-U-032-23
Tapada vein
Lower
124.20
126.00
1.80
1.00
701
0.41
0.80
1.19
DDH-U-035-23
Tapada vein
Lower
113.65
123.50
9.85
7.08
453
0.56
0.74
1.75
DDH-U-043-23
Tapada vein
Lower
103.60
105.95
2.35
1.43
172
1.55
0.35
2.90
DDH-U-047-23
Tapada vein
Lower
133.95
134.70
0.75
0.46
754
1.97
0.57
2.28
Timmins Mine (Whitney Project), Canada
The Timmins West and Bell Creek mines, located outside of
Timmins, Ontario are Archean orogenic gold deposits associated with
greenstone-hosted quartz veins. The Whitney project is located 4.5
kilometres south of the Bell Creek processing plant and adjacent to
the Palmour open pit operated by Newmont Corporation. The project
is a joint venture (82.5% Pan American / 17.5% Newmont Corporation)
in which Pan American is the operator, with historic production,
most notably from the Hallnor and Broulan Reef mines, that produced
just over 2.3 million ounces of gold. Infill, exploration drilling
and technical studies are planned for 2024. The Hallnor zone is
referenced in our mineral resource and mineral reserve update as at
June 30, 2023 under the name of Whitney.
Drilling in 2022, comprised of 39 holes totaling 7,849 metres,
and drilling in 2023, comprised of 26 holes totaling 5,979 metres,
tested mineralisation left in both unmined veins and the wall rock
of mined stopes in the upper Hallnor zone and Broulan Reef zone 1.5
kilometres west of Hallnor.
Most of the recent drilling at Hallnor targeted areas in the
shallow part of the deposit that had previously been the subject of
a historic resource estimation calculated based on selective
historic sample data. Results from recent drilling confirm historic
resource shapes, and in some cases, intersected mineralisation
outside of the current resource models. Drilling at Hallnor resumed
in the fourth quarter of 2023, after the completion of the Broulan
Reef exploration program.
Significant assays from the drilling at Broulan Reef confirm the
mineral resources in the upper part of the zone and drill hole
TW23-730 intersected mineralisation approximately 50 metres below
the historic resource.
Table 6: Timmins Mine (Whitney Project)
The following table provides infill and exploration drill result
highlights from the Hallnor and Broulan reef deposits of the
Whitney Project. Full infill and exploration drill results not
included in this table, together with cross sections and plans, are
available at
https://panamericansilver.com/operations/exploration/.
Hole No.
Zone
From (m)
To (m)
Int (m)
Au g/t
TW22-719
Hallnor
84.00
85.20
1.20
145.73
TW22-712
Hallnor
114.60
120.40
5.80
26.64
Incl.
118.10
118.60
0.50
265.00
131.50
134.60
3.10
9.97
TW22-705A
Hallnor
184.00
200.60
16.60
5.39
TW22-709
Hallnor
138.50
146.50
8.00
6.76
TW22-694
Hallnor
108.40
113.00
4.60
10.43
Incl.
110.00
110.50
0.50
48.60
and
112.00
113.00
1.00
19.30
TW23-747
Broulan Reef
199.00
209.00
10.00
38.11
Incl.
201.00
202.00
1.00
190.00
and
203.00
204.00
1.00
12.10
and
206.00
207.00
1.00
170.00
TW23-740
Broulan Reef
104.00
112.00
8.00
6.39
Incl.
105.00
106.00
1.00
38.50
TW23-745
Broulan Reef
167.00
176.00
9.00
6.38
Incl.
175.00
176.00
1.00
45.10
TW23-743
Broulan Reef
120.00
129.00
9.00
3.45
TW23-730
Broulan Reef
475.00
478.00
3.00
4.71
Incl.
477.00
478.00
1.00
11.40
All intervals reported over core
lengths
DRILL HOLE COLLAR HIGHLIGHTS
Project
Hole No.
Zone
UTM easting
UTM northing
Elevation (masl)
Azimuth (°)
Inclination (°)
Total length (m)
Jacobina
JBS00036
João Belo Sul
333,935
8,748,542
1082.90
254.0
-45.0
330.75
Jacobina
JBS00040
João Belo Sul
333,925
8,748,390
1109.71
273.0
-81.0
437.15
Jacobina
JBS00041
João Belo Sul
334,200
8,749,743
1033.06
310.0
-65.0
606.25
Jacobina
JBS00043
João Belo Sul
333,928
8,748,394
1110.68
344.0
-72.0
511.6
Jacobina
JBS00045
João Belo Sul
334,042
8,748,339
1140.51
253.0
-53.0
501.2
Jacobina
JBS00048
João Belo Sul
334,147
8,748,754
1080.06
236.0
-58.0
580
Jacobina
JBS00050
João Belo Sul
334,038
8,748,337
1140.97
273.0
-69.0
511.1
Jacobina
JBS00053
João Belo Sul
333,930
8,748,182
1089.21
273.0
-49.0
589.15
Jacobina
MRCEX00004
Maricota
334,744
8,756,114
946.38
235.0
-70.0
639.75
Jacobina
MRCEX00008
Maricota
334,738
8,756,119
946.24
302.0
-66.0
644.15
Jacobina
MRCEX00009
Maricota
334,708
8,755,724
396.77
47.8
-78.8
585.1
El Peñon
SEV0004
El Valle
449,924
7,302,273
1897.22
82.0
-71.6
329
El Peñon
SIP0040
Pampa Campamento(-10), Pampa
Campamento
451,250
7,302,449
1879.97
272.5
-72.8
681.3
El Peñon
UEP0044
Pampa Campamento
450,702
7,302,874
1563.52
43.0
-22.9
257.3
El Peñon
UEP0055
Pampa Campamento (-35)
450,933
7,302,080
1599.69
36.0
-62.8
343.2
El Peñon
UEP0056
Pampa Campamento (-35)
450,932
7,302,081
1599.69
27.0
-52.6
360.8
El Peñon
UEP0057
Pampa Campamento
450,601
7,302,889
1360.40
58.0
-33.2
434.2
El Peñon
UEV0031
El Valle
449,970
7,302,647
1650.96
125.0
-28.3
301.25
El Peñon
UIP0086
Pampita, Pampa Campamento
Oeste
450,845
7,302,393
1626.41
66.8
-33.0
131
El Peñon
UIP0103
Pampa Campamento Oeste,
Pampita
450,846
7,302,394
1626.86
46.6
-11.1
152.3
El Peñon
UIP0105
Pampa Campamento
450,933
7,302,081
1600.00
39.0
-51.6
380.1
El Peñon
UIP0106
Pampita, Pampa Campamento
Oeste
450,862
7,302,556
1690.20
75.8
-54.5
143.55
El Peñon
UIP0112
Pampa Campamento
450,933
7,302,080
1599.83
56.0
-53.6
434.5
El Peñon
UIP0113
Pampita, Pampa Campamento Oeste,
Pampa Campamento
450,845
7,302,391
1626.79
117.9
-13.8
176.9
El Peñon
UIP0114
Pampa Campamento, Pampa
Campamento(-35)
450,933
7,302,080
1600.00
45.4
-53.4
392.65
El Peñon
UIP0120
Pampita, Pampa Campamento
Oeste
450,862
7,302,558
1690.02
63.2
-72.7
191.4
El Peñon
UIP0124
Pampa Campamento(-35)
450,933
7,302,081
1599.70
37.6
-54.2
270.55
El Peñon
UIP0127
Pampa Campamento, Pampa
Campamento(-35)
450,933
7,302,080
1599.68
35.4
-53.7
452.5
El Peñon
UIP0133
Pampa Campamento
450,622
7,302,899
1385.06
82.0
-17.1
292.1
El Peñon
UIP0135
Pampa Campamento
450,622
7,302,899
1384.85
71.0
-28.0
299.9
El Peñon
UIP0137
Pampa Campamento
450,621
7,302,899
1384.69
71.0
-33.3
338.3
El Peñon
UIP0143
Pampa Campamento
450,621
7,302,900
1384.47
62.0
-33.3
368.6
El Peñon
UIP0145
Pampa Campamento
450,621
7,302,900
1384.98
57.0
-18.0
275.7
El Peñon
UIP0146
Pampa Campamento
450,621
7,302,900
1384.74
67.0
-23.7
301.2
El Peñon
UIP0147
Sistema Pampa Campamento
450,931
7,302,081
1599.83
19.0
-50.6
416.4
El Peñon
UIP0149
Pampa Campamento
450,621
7,302,901
1385.15
50.0
-20.7
305.3
El Peñon
UIV0050
El Valle
449,970
7,302,647
1651.50
132.0
-12.4
248.55
El Peñon
UIV0051
El Valle
449,971
7,302,647
1651.53
119.0
-8.9
256.8
El Peñon
UIV0054
El Valle
449,946
7,302,403
1752.06
99.0
-58.6
257.8
El Peñon
UIV0056
El Valle
449,969
7,302,647
1651.77
150.0
-6.7
275.5
El Peñon
UIP0119
Pampa Campamento
450,933
7,302,081
1599.63
37.7
-50.2
391.05
La Colorada Mine
S-102-23(1)
5,772
5,501
2539.96
342.1
-60.4
758.1
La Colorada Mine
S-105-23(1)
5,806
5,769
2591.43
315.4
-76.3
680.3
La Colorada Mine
S-115-23(1)
5,773
5,499
2543.26
342.2
-65.7
761.1
La Colorada Mine
S-123-23(1)
5,772
5,501
2539.81
334.7
-53.0
793.3
La Colorada Mine
S-73-23(1)
5,773
5,501
2539.92
327.7
-61.2
713.1
La Colorada Mine
S-84-23(1)
5,773
5,501
2539.93
331.0
-55.3
747.7
La Colorada Mine
S-95-23(1)
5,807
5,769
2592.53
346.5
-80.8
761.2
La Colorada Mine
U-106-23(1)
5,328
5,537
1998.97
324.4
-71.2
380.6
La Colorada Mine
U-114-23(1)
5,332
5,538
1999.58
39.7
-3.7
392.6
La Colorada Mine
U-31-23(1)
5,327
5,538
2000.39
302.9
13.9
271.15
La Colorada Mine
U-38-23(1)
5,327
5,539
2000.34
301.0
14.7
238
La Colorada Mine
U-47-23(1)
4,295
4,764
1897.24
335.6
-58.5
218.7
La Colorada Mine
U-49-23(1)
5,328
5,538
2000.12
328.6
16.8
308
La Colorada Mine
U-53-23(1)
5,328
5,539
2000.69
329.6
23.8
299.7
La Colorada Mine
U-56-23(1)
5,331
5,539
1998.28
44.7
-46.2
368.3
La Colorada Mine
U-75-23(1)
5,328
5,538
2001.06
339.8
26.4
293.7
La Colorada Mine
U-77-23(1)
5,332
5,538
1998.75
45.9
-36.2
371.7
La Colorada Mine
U-83-23(1)
5,332
5,538
1998.56
35.9
-39.9
278.4
La Colorada Skarn
D-05-01-23(1)(2)
Infill
4,623
5,603
2578.40
153.7
-76.7
1045.25
La Colorada Skarn
D-16-01-23(1)(2)
Infill
4,751
5,590
2612.00
233.8
-87.5
1114.8
La Colorada Skarn
D-93-07-23(1)(2)
Infill
4,926
5,166
2469.70
279.1
-80.7
831.05
La Colorada Skarn
D-93-08-23(1)(2)
Infill
4,926
5,166
2469.70
326.0
-71.4
820.45
La Colorada Skarn
D-93-09-23(1)(2)
Infill
4,926
5,166
2469.70
255.1
-69.7
806.75
La Colorada Skarn
D-96-13-23(1)(2)
Infill
4,655
5,286
2506.40
90.9
-80.3
926.85
La Colorada Skarn
D-96-14-23(1)(2)
High Grade Ext.
4,655
5,286
2506.40
261.6
-88.0
851.25
La Colorada Skarn
D-96-15-23(1)(2)
Infill
4,655
5,286
2506.40
128.9
-66.6
898.2
La Colorada Skarn
U-103-22(1)
Infill
4,496
5,332
2073.50
72.6
-76.8
1139.3
La Colorada Skarn
U-124-22(1)
Geotech
5,259
5,417
2003.60
95.6
-76.7
736
La Colorada Skarn
U-19-23(1)
High Grade Ext.
4,496
5,332
2070.50
67.7
-85.1
1157.9
La Colorada Skarn
U-28-23(1)
Infill
4,843
5,324
1995.50
303.0
-84.3
1079
La Colorada Skarn
U-30-23(1)
High Grade Ext.
4,495
5,333
2070.60
43.5
-81.8
1169.25
La Colorada Skarn
U-43-23(1)
High Grade Ext.
4,495
5,333
2070.60
107.4
-84.5
1176.7
La Colorada Skarn
U-44-23(1)
Infill
4,845
5,324
1998.30
305.0
-86.0
1110.65
Huaron
DDH-U-007-23
Cuerpo Andres
344,775
8,781,772
4492.05
182.5
-48.5
272
Huaron
DDH-U-010-23
Maria Ramal
344,774
8,781,772
4492.50
181.2
-26.0
154.55
Huaron
DDH-U-032-23
Tapada
343,781
8,781,868
4083.23
335.2
-37.8
155.15
Huaron
DDH-U-034-23
Cuerpo Andres
344,774
8,781,772
4490.74
162.2
-65.3
379
Huaron
DDH-U-035-23
Tapada
343,786
8,781,872
4083.83
19.5
-29.5
135
Huaron
DDH-U-042-23
Maria Ramal
344,769
8,781,773
4491.65
225.1
-28.7
150.55
Huaron
DDH-U-043-23
Tapada
343,786
8,781,873
4082.90
6.0
-40.1
162
Huaron
DDH-U-045-23
Maria Ramal
344,770
8,781,774
4491.66
226.3
-43.1
158.25
Huaron
DDH-U-047-23
Tapada
343,782
8,781,868
4083.88
322.0
-33.9
185.4
Huaron
DDH-U-058-23
Cuerpo Andres
344,774
8,781,771
4493.28
194.6
23.6
334.75
Huaron
DDH-U-061-23
Cuerpo Andres
344,566
8,781,627
4475.82
217.5
-42.7
365.8
Huaron
DDH-U-068-23
Cuerpo Andres
344,567
8,781,627
4475.83
204.6
-46.7
375.1
Huaron
DDH-U-077-23
San Pedro Ramal
343,716
8,782,756
4344.77
247.7
13.2
280.7
Timmins
TW23-730
Broulan Reef
487,549
5,372,880
288.95
335.0
-55.0
546
Timmins
TW23-740
Broulan Reef
487,043
5,373,060
292.30
335.0
-55.0
141
Timmins
TW23-743
Broulan Reef
487,167
5,373,033
291.64
335.0
-45.0
136
Timmins
TW23-745
Broulan Reef
487,167
5,373,032
291.72
335.0
-66.0
231
Timmins
TW23-747
Broulan Reef
487,219
5,373,015
291.59
335.0
-50.0
231
Timmins
TW22-694
Hallnor
489,063
5,373,543
284.00
335.0
-45.0
138
Timmins
TW22-705A
Hallnor
489,176
5,373,525
287.00
333.0
-53.0
240
Timmins
TW22-709
Hallnor
489,061
5,373,463
285.00
333.0
-53.0
210
Timmins
TW22-712
Hallnor
488,951
5,373,462
284.00
333.0
-62.0
141
Timmins
TW22-719
Hallnor
488,893
5,373,455
285.00
333.0
-59.0
117
(1) La Colorada drill hole collar
coordinates based on a local grid format.
(1)(2) Drill holes started downhole - see
detailed collar table for more information.
General Notes with Respect to Technical Information
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.
The mineral resource and mineral reserves databases compiling
drilling and, in some cases, sampling, have been accumulated at
each of Pan American mine sites by the qualified staff.
Samples are analyzed at a variety of laboratories, including by
in-house staff at the mine (Jacobina and La Colorada), mine
laboratories operated by third party independent commercial labs
(Huarón), and commercial laboratories off-site (Timmins, El Peñon
and Jacobina ). All the assay data reported in this news release
has been subjected to the industry standard quality assurance and
quality control ("QA/QC") program including the submission of
certified standards, blanks, and duplicate samples. The results are
reviewed on a monthly and quarterly basis by management. In
general, the assay analytical technique for silver, lead, zinc and
copper is acid digestion with either ICP or atomic absorption
finish. The analytical technique for gold uses fire assay and
atomic absorption spectrometry (AAS) finish. A gravimetric finish
would be used if the gold assay exceeds > 10 g/t (or >5 g/t
at El Peñon). The results of the QA/QC samples submitted for the
resource databases demonstrate acceptable accuracy and precision.
The offsite commercial laboratories are independent from Pan
American and certified by ISO 17025:2017.
The Qualified Person is of the opinion that the sample
preparation, analytical, and security procedures followed for the
samples are sufficient and reliable for the purpose of this news
release and for the purpose of any future mineral resource and
mineral reserve estimates. There were no limitations on the
Qualified Persons' verification process. Pan American is not aware
of any drilling, sampling, recovery or other factors that could
materially affect the accuracy or reliability of the data reported
herein.
Mineral resources and mineral reserves are as defined by the
Canadian Institute of Mining, Metallurgy and Petroleum.
Mineral Resources that are not Mineral Reserves have no
demonstrated economic viability. No mineral reserves have yet been
estimated for the Skarn deposit.
See the Company’s Annual Information Form dated February 22,
2023, available at www.sedarplus.com, or Pan American's most recent
Form 40-F filed with the United States Securities and Exchange
Commission (the "SEC") for further information on the Company’s
material mineral properties prior to the completion of the
acquisition of Yamana Gold Inc. (“Yamana”), including detailed
information concerning associated QA/QC and data verification
matters, the key assumptions, parameters and methods used by the
Company to estimate mineral reserves and mineral resources, and for
a detailed description of known legal, political, environmental,
and other risks that could materially affect the Company’s business
and the potential development of the Company’s mineral reserves and
mineral resources. For further information about the material
mineral projects acquired pursuant to the acquisition of Yamana,
please refer to Yamana’s Annual Information Form dated March 29,
2023, filed at www.sedarplus.ca, or Yamana’s most recent Form 40-F
filed with the SEC.
Technical information contained in this news release with
respect to Pan American has been reviewed and approved by
Christopher Emerson, FAusIMM, Vice President Exploration and
Geology, and Martin Wafforn, P.Eng., Senior Vice President
Technical Services and Process Optimization, each of whom is a
Qualified Person for the purposes of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects (‘‘NI 43-101’’). Pan
American Silver Corp is authorized by The Association of
Professional Engineers and Geoscientists of the Province of British
Columbia to engage in Reserved Practice under Permit to Practice
number 1001470.
Cautionary Note to US Investors
This news release has been prepared in accordance with the
requirements of Canadian NI 43-101 and the Canadian Institute of
Mining, Metallurgy and Petroleum Definition Standards, which differ
from the requirements of U.S. securities laws. NI 43-101 is a rule
developed by the Canadian Securities Administrators that
establishes standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral
projects.
Canadian public disclosure standards, including NI 43-101,
differ significantly from the requirements of the SEC, and
information concerning mineralization, deposits, mineral reserve
and resource information contained or referred to herein may not be
comparable to similar information disclosed by U.S. companies. The
requirements of NI 43-101 for identification of ”reserves” are not
the same as those of the SEC, and mineral reserves reported by the
Company in compliance with NI 43-101 may not qualify as ”reserves”
under SEC standards. Under U.S. standards, mineralization may not
be classified as a ”reserve” unless the determination has been made
that the mineralization could be economically and legally produced
or extracted at the time the reserve determination is made.
About Pan American
Pan American Silver is a leading producer of precious metals in
the Americas, operating silver and gold mines in Canada, Mexico,
Peru, Bolivia, Argentina, Chile and Brazil. We also own the Escobal
mine in Guatemala that is currently not operating, and we hold
interests in exploration and development projects. We have been
operating in the Americas for nearly three decades, earning an
industry-leading reputation for sustainability performance,
operational excellence and prudent financial management. We are
headquartered in Vancouver, B.C. and our shares trade on the New
York Stock Exchange and the Toronto Stock Exchange under the symbol
"PAAS".
Learn more at panamericansilver.com
Follow us on LinkedIn
Cautionary Note Regarding Forward-Looking Statements and
Information
Certain of the statements and information in this news release
constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian provincial securities laws. All statements, other than
statements of historical fact, are forward-looking statements or
information. Forward-looking statements or information in this news
release relate to, among other things: the extent of, and success
related to any future exploration or development programs,
including with respect to its Jacobina, El Peñon, La Colorada,
Huaron and Timmins properties and for its La Colorada Skarn
project; expectations regarding testing from surface and
underground drilling stations; an initial mineral resource estimate
for Maricota in 2024; and release of an initial economic study of
the La Colorada Skarn project in the fourth quarter of 2023.
These forward-looking statements and information reflect Pan
American’s current views with respect to future events and are
necessarily based upon a number of assumptions that, while
considered reasonable by Pan American, are inherently subject to
significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include: tonnage
of ore to be mined and processed; ore grades and recoveries; prices
for silver, gold and base metals remaining as estimated; currency
exchange rates remaining as estimated; capital, decommissioning and
reclamation estimates; our mineral reserve and resource estimates
and the assumptions upon which they are based; prices for energy
inputs, labour, materials, supplies and services (including
transportation); no labour-related disruptions at any of our
operations; no unplanned delays or interruptions in scheduled
production; all necessary permits, licenses and regulatory
approvals for our operations are received in a timely manner; our
ability to secure and maintain title and ownership to properties
and the surface rights necessary for our operations; and our
ability to comply with environmental, health and safety laws. The
foregoing list of assumptions is not exhaustive.
Pan American cautions the reader that forward-looking statements
and information involve known and unknown risks, uncertainties and
other factors that may cause actual results and developments to
differ materially from those expressed or implied by such
forward-looking statements or information contained in this news
release and Pan American has made assumptions and estimates based
on or related to many of these factors. Such factors include,
without limitation: fluctuations in silver, gold and base metal
prices; fluctuations in prices for energy inputs, labour,
materials, supplies and services (including transportation);
fluctuations in currency markets (such as the PEN, MXN, ARS, BOB,
GTQ, CAD, CLP, and BRL versus the USD); operational risks and
hazards inherent with the business of mining (including
environmental accidents and hazards, industrial accidents,
equipment breakdown, unusual or unexpected geological or structural
formations, cave-ins, flooding and severe weather); risks relating
to the credit worthiness or financial condition of suppliers,
refiners and other parties with whom Pan American does business;
inadequate insurance, or inability to obtain insurance, to cover
these risks and hazards; employee relations; relationships with,
and claims by, local communities and indigenous populations; our
ability to obtain all necessary permits, licenses and regulatory
approvals in a timely manner; changes in laws, regulations and
government practices in the jurisdictions where we operate,
including environmental, export and import laws and regulations;
changes in national and local government, legislation, taxation,
controls or regulations and political, legal or economic
developments, including legal restrictions relating to mining,
risks relating to expropriation, and risks relating to the
constitutional court-mandated ILO 169 consultation process in
Guatemala; diminishing quantities or grades of mineral reserves as
properties are mined; increased competition in the mining industry
for equipment and qualified personnel; the duration and effects any
pandemics on our operations and workforce; and those factors
identified under the caption "Risks Related to Pan American's
Business" in Pan American's most recent form 40-F and Annual
Information Form filed with the United States Securities and
Exchange Commission and Canadian provincial securities regulatory
authorities, respectively, and those factors identified under the
caption “Risks of the Business” in Yamana’s most recent form 40-F
and Annual Information Form filed with the United States Securities
and Exchange Commission and Canadian provincial securities
regulatory authorities, respectively. Although Pan American has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
Investors are cautioned against undue reliance on forward-looking
statements or information. Forward-looking statements and
information are designed to help readers understand management's
current views of our near and longer term prospects and may not be
appropriate for other purposes. Pan American does not intend, nor
does it assume any obligation to update or revise forward-looking
statements or information, whether as a result of new information,
changes in assumptions, future events or otherwise, except to the
extent required by applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231204487421/en/
For more information: Siren Fisekci VP, Investor Relations &
Corporate Communications Ph: 604-806-3191 Email:
ir@panamericansilver.com
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