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December 19, 2013
05:13 EDTPAASPan American Silver to expand La Colorada mine
Pan American Silver has decided to proceed with the expansion of its La Colorada mine in Zacatecas, Mexico, based on the positive results of a recently completed Preliminary Economic Assessment, referred to as the PEA. The PEA demonstrates that the relatively low-risk expansion project has the potential to provide robust after-tax economic returns using a $19 per ounce long-term silver price. The PEA contemplates an increase in silver production from the current level of approximately 4.7M ounces per year to 7.7M ounces per year by the end of 2017, for an incremental capital investment of $80M, the majority of which will be spent over the next 3 years. The expansion plan contemplates production down to the 740 level in the East side of the Candelaria area, over 200 meters below the current deepest 528 mining level and down to the 610 level of the Amolillo vein, nearly 250 meters below the current deepest 365 mining level. Currently the deepest positive drill hole in the Candelaria area intercepted ore-grade mineralization down to the 1,010 level, over 270 metres below the deepest level designed in the expanded mine plan and down to the 735 level of the Amolillo structure. These deep drill results are indicative of deep seated structures with significant potential, well beyond the PEA mine plan. There is also further exploration potential along strike, especially on the west side of the Amolillo vein.
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April 11, 2014
16:23 EDTPAASPan American Silver files to sell 7.81M common shares
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