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Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Tuesday, 09 January 2024 15:00
Pan American Silver Corp. has announced the results of a preliminary economic assessment of its 100% owned, long-life La Colorada Skarn project in Zacatecas, Mexico.
“Our objective is to provide investors with exposure to silver, and the La Colorada Skarn provides that exposure in scale, with annual silver production estimated to average 17.2 million oz during the first 10 years. It is also expected to produce 427 thousand t of zinc annually during that period, which we anticipate would coincide with decreasing zinc supply in the market. Given the volume of base metals in the deposit, Pan American is assessing interest from base metal producers and other capable parties to explore long-term partnerships to develop this polymetallic project, allowing Pan American to focus on the large amount of anticipated silver production,” said Michael Steinmann, President and Chief Executive Officer of Pan American.“Discovering a deposit of this magnitude beneath our currently producing La Colorada mine is an exceptional opportunity to create long-term value for our shareholders. The mineral resource update released today does not include any drill results from 2023, which will continue to expand the resource envelope and provide opportunities to enhance the life-of-mine economics,” added Mr. Steinmann.
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