VANCOUVER, BC, Feb. 24, 2022 /CNW/ - Pan American Silver
Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American" or the
"Company") today provides results for 20 new infill and exploration
holes, all of which contain multiple skarn and breccia
intercepts.
"Drilling has improved our confidence in the mineralization to
the east, west and south of the known skarn footprint, as reported
in our November 10, 2021 news
release," said Christopher Emerson,
Pan American's Vice President Business Development and Geology.
"Drillhole S-73-21 confirmed high-grade mineralization more than
200 metres from S-71-21 with 78.55 metres of 76 g/t Ag, 0.36% Cu,
4.18% Pb and 9.55% Zn. To the west, U-83-21 confirmed high grade
continuous mineralization, as previously indicated by hole U-05-21
and U-67-21."
With 17,050 metres of drilling reported in this news release,
the main focus in Q4 2021 was to infill and step out the drilling
to the east, west and south sides of the skarn. In total, over
72,000 metres were drilled in 2021, which focused on infill and
exploration to further define, expand and add confidence to the
current inferred resource.
In 2022, Pan American plans to drill 55,000 metres at
La Colorada for a cost of
$18 million to $20 million to further explore and infill drill
the skarn and adjacent veins. Pan American is aiming to provide an
update to the August 4, 2020 mineral
resource estimate for the La
Colorada skarn concurrent with the release of its annual
mineral reserve and mineral resource estimates around mid-year.
Drill Highlights Include:
- U-83-21: 322.85 m of 64
g/t Ag, 0.06% Cu, 1.92% Pb and 3.80% Zn, including 64.90 m of 178 g/t Ag, 0.06% Cu, 4.34% Pb and
6.28% Zn
- S-73-21: 78.55 m of 76 g/t
Ag, 0.36% Cu, 4.18% Pb and 9.55% Zn, including 58.10 m of 91 g/t Ag, 0.46% Cu, 5.24% Pb and
11.45% Zn
- D-73-01-21: 159.00 m of 79
g/t Ag, 0.29% Cu, 2.25% Pb and 5.75% Zn, including 99.20 m of 112 g/t Ag, 0.45% Cu, 3.21% Pb and
8.07% Zn
- D-73-02-21: 47.65 m of 21
g/t Ag, 0.02% Cu, 1.54% Pb and 2.95% Zn, and 17.95 m of 38 g/t Ag, 0.04% Cu, 3.11% Pb and
4.00% Zn and 21.30 m of 27 g/t
Ag, 0.18% Cu, 0.87% Pb and 3.94% Zn
- D-71-01-21: 44.65 m of 48
g/t Ag, 0.05% Cu, 3.06% Pb and 5.83% Zn, and 15.95 m of 100 g/t Ag, 0.28% Cu, 7.30% Pb and
7.07% Zn
- D-71-02-21: 113.9 m of 50
g/t Ag, 0.09% Cu, 2.74% Pb and 4.48% Zn, and 73.40 m of 46 g/t Ag, 0.20% Cu, 1.70% Pb and
6.29% Zn, and 54.50 m of 57
g/t Ag, 0.11% Cu, 3.46% Pb and 3.47% Zn
- D-71-03-21: 22.10 m of 60
g/t Ag, 0.09% Cu, 2.15% Pb and 3.20% Zn, and 55.10 m of 42 g/t Ag, 0.07% Cu, 1.16% Pb and
3.87% Zn and 191.85 m of 91
g/t Ag, 0.21% Cu, 4.80% Pb and 8.00% Zn
- D-62-02-21: 126.75 m of 39
g/t Ag, 0.12% Cu, 1.41% Pb and 2.91% Zn, including 24.10 m of 35 g/t Ag, 0.16% Cu, 2.56% Pb and
5.20% Zn
- D-21-02-21: 219.90 m of 59
g/t Ag, 0.20% Cu, 1.24% Pb and 3.82% Zn, including 91.30 m of 51 g/t Ag, 0.20% Cu, 2.05% Pb and
6.11% Zn
Exploration drilling to the east of the main skarn resource
(reported on August 4 2020)
discovered a new zone roughly 200 metres by 250 metres in area.
This new zone is defined by new directional drill holes
D-71-01/02/03, S-73-21 and D-73-01/02-21 that surround previously
reported S-71-21. New drill holes in this area contain multiple
mineralized skarn intercepts ranging from 20 to 191 metres wide.
Drill hole D-71-03-21 contained several intercepts with one of
which was 191.85 metres of 91g/t Ag, 0.21% Cu, 4.8% Pb and 8.00%
Zn
To the west of the main skarn zone, U-83-21 extends
mineralization from holes U-05-21 and 67-21 (reported on
November 10, 2021). U-83-21 contains
an intercept of 322 metres at 64 g/t Ag, 1.92% Pb and 3.8% Zn.
Mineralization is now defined along a north to northwest trend,
which remains open to further drilling.
Drilling to the south of the skarn resource has successfully
expanded breccia-style mineralization over 100 metres southeast of
D-95-03-21 with drill hole D-95-04-21 containing various breccia
zones over a 200 metre drill length.
Summary of Drill Results
The following table provides the drill results for the
La Colorada skarn deposit for the
fourth quarter of 2021. Previous drill results not included in this
table in this table are disclosed in Pan American's news releases,
which are referenced together with additional drilling information
of the La Colorada skarn and
available at
https://www.panamericansilver.com/operations/exploration/la-colorada-skarn/.
To view cross sections and plan, please see our website at
panamericansilver.com.
Hole
No.
|
From
(m)
|
To
(m)
|
Interval
(m) (1)
|
Ag
g/t
|
Cu%
|
Pb
%
|
Zn
%
|
D-01-03-21
|
990.00
|
1013.25
|
23.25
|
22
|
0.11
|
1.46
|
3.12
|
and
|
1084.60
|
1100.15
|
15.55
|
59
|
0.15
|
2.83
|
3.57
|
and
|
1163.55
|
1290.60
|
127.05
|
53
|
0.15
|
0.88
|
3.56
|
Incl.
|
1163.55
|
1195.20
|
31.65
|
91
|
0.28
|
2.67
|
7.07
|
D-107-08-21
|
1135.65
|
1144.20
|
8.55
|
546
|
0.06
|
13.57
|
12.47
|
and
|
1412.35
|
1421.60
|
9.25
|
28
|
0.08
|
0.52
|
6.91
|
and
|
1549.95
|
1556.60
|
6.65
|
42
|
0.13
|
1.01
|
8.69
|
D-107-09-21
|
1144.65
|
1158.95
|
14.30
|
111
|
0.05
|
1.94
|
1.99
|
and
|
1339.65
|
1364.30
|
24.65
|
96
|
0.13
|
0.30
|
5.01
|
and
|
1459.05
|
1525.60
|
66.55
|
46
|
0.13
|
1.11
|
4.73
|
Incl.
|
1459.05
|
1503.00
|
43.95
|
57
|
0.15
|
1.61
|
5.62
|
D-21-01-21
|
1087.95
|
1112.90
|
24.95
|
55
|
0.09
|
1.01
|
1.52
|
and
|
1244.95
|
1251.75
|
6.80
|
22
|
0.16
|
2.03
|
4.01
|
and
|
1309.10
|
1395.70
|
86.60
|
34
|
0.17
|
1.09
|
2.55
|
D-21-02-21
|
1086.00
|
1118.20
|
32.20
|
47
|
0.26
|
1.12
|
2.07
|
and
|
1292.95
|
1512.85
|
219.90
|
59
|
0.20
|
1.24
|
3.82
|
Incl.
|
1316.90
|
1408.20
|
91.30
|
51
|
0.20
|
2.05
|
6.11
|
D-62-01-21
|
1057.85
|
1061.90
|
4.05
|
133
|
0.06
|
3.48
|
7.69
|
and
|
1184.25
|
1188.35
|
4.10
|
74
|
0.10
|
4.67
|
18.09
|
D-62-02-21
|
1049.90
|
1059.35
|
9.45
|
527
|
0.04
|
16.39
|
13.23
|
and
|
1224.20
|
1350.95
|
126.75
|
39
|
0.12
|
1.41
|
2.91
|
Incl.
|
1268.05
|
1292.15
|
24.10
|
35
|
0.16
|
2.56
|
5.20
|
and
|
1380.10
|
1387.30
|
7.20
|
41
|
0.17
|
1.08
|
4.82
|
D-62-03-21(2)
|
1367.65
|
1386.00
|
18.35
|
130
|
0.16
|
3.39
|
1.95
|
and
|
1401.90
|
1410.65
|
8.75
|
44
|
0.21
|
4.02
|
6.51
|
D-66-01-21
|
1414.75
|
1427.35
|
12.60
|
118
|
0.02
|
1.68
|
2.30
|
D-66-02-21
|
1420.85
|
1434.45
|
13.60
|
64
|
0.03
|
0.89
|
3.38
|
D-66-03-21
|
1141.45
|
1161.35
|
19.90
|
16
|
0.03
|
1.70
|
3.13
|
and
|
1422.10
|
1425.15
|
3.05
|
20
|
0.06
|
1.86
|
4.12
|
D-71-01-21(2)
|
1147.65
|
1192.30
|
44.65
|
48
|
0.05
|
3.06
|
5.83
|
and
|
1446.15
|
1462.10
|
15.95
|
100
|
0.28
|
7.30
|
7.07
|
D-71-02-21
|
1021.45
|
1025.80
|
4.35
|
43
|
0.09
|
1.12
|
3.41
|
and
|
1074.40
|
1096.20
|
21.80
|
35
|
0.06
|
1.70
|
3.02
|
and
|
1128.25
|
1242.15
|
113.90
|
50
|
0.09
|
2.74
|
4.48
|
Incl.
|
1128.25
|
1183.30
|
55.05
|
70
|
0.13
|
3.75
|
6.65
|
and
|
1288.40
|
1361.80
|
73.40
|
46
|
0.20
|
1.70
|
6.29
|
Incl.
|
1288.40
|
1303.40
|
15.00
|
100
|
0.54
|
1.77
|
17.01
|
and
|
1404.85
|
1459.35
|
54.50
|
57
|
0.11
|
3.46
|
3.47
|
Incl.
|
1438.75
|
1459.35
|
20.60
|
49
|
0.19
|
4.35
|
4.55
|
D-71-03-21(2)
|
856.00
|
878.10
|
22.10
|
60
|
0.09
|
2.15
|
3.20
|
and
|
1100.60
|
1155.70
|
55.10
|
42
|
0.07
|
1.16
|
3.87
|
and
|
1178.70
|
1370.55
|
191.85
|
91
|
0.21
|
4.80
|
8.00
|
Incl.
|
1189.85
|
1229.6
|
39.75
|
187
|
0.33
|
9.71
|
14.84
|
D-73-01-21(2)
|
1039.90
|
1198.90
|
159.00
|
79
|
0.29
|
2.25
|
5.75
|
Incl.
|
1039.90
|
1139.10
|
99.20
|
112
|
0.45
|
3.21
|
8.07
|
D-73-02-21
|
931.55
|
959.15
|
27.60
|
72
|
0.09
|
0.98
|
1.71
|
and
|
987.60
|
996.70
|
9.10
|
51
|
0.07
|
3.78
|
8.39
|
and
|
1023.45
|
1071.10
|
47.65
|
21
|
0.02
|
1.54
|
2.95
|
and
|
1234.50
|
1252.45
|
17.95
|
38
|
0.04
|
3.11
|
4.00
|
and
|
1432.40
|
1453.70
|
21.30
|
27
|
0.18
|
0.87
|
3.94
|
D-95-04-21(2)
|
1101.15
|
1193.80
|
92.65
|
44
|
0.09
|
1.46
|
2.09
|
and
|
1235.00
|
1261.50
|
26.50
|
21
|
0.08
|
0.93
|
2.22
|
S-73-21
|
1018.70
|
1097.25
|
78.55
|
76
|
0.36
|
4.18
|
9.55
|
Incl.
|
1028.75
|
1086.85
|
58.10
|
91
|
0.46
|
5.24
|
11.45
|
S-21-21
|
1409.40
|
1420.90
|
11.50
|
50
|
0.13
|
2.63
|
4.92
|
U-83-21
|
558.85
|
597.40
|
38.55
|
126
|
0.07
|
3.83
|
2.72
|
and
|
652.95
|
975.80
|
322.85
|
64
|
0.06
|
1.92
|
3.80
|
Incl.
|
652.95
|
717.85
|
64.90
|
178
|
0.06
|
4.34
|
6.28
|
Incl.
|
877.25
|
975.80
|
98.55
|
33
|
0.12
|
1.92
|
5.38
|
(1) True widths of
the mineralized intervals are unknown at this time.
|
(2) Partial results
received.
|
La Colorada Skarn - Drill Hole Collar Information
Drill Hole
ID
|
East
Local
|
North
Local
|
Elevation
|
Length
(m)
|
Azimuth Avg
(0)
|
Dip
Avg
|
D-01-03-21
|
5365.7
|
5404.4
|
2538.8
|
930.5
|
314.8
|
-72.1
|
D-107-08-21
|
5114.4
|
5573.5
|
2536.1
|
691.6
|
200.6
|
-85.2
|
D-107-09-21
|
5114.4
|
5573.5
|
2536.1
|
615.4
|
198.5
|
-88.0
|
D-21-01-21
|
5279.5
|
5327.5
|
2557.0
|
634.4
|
285.9
|
-81.5
|
D-21-02-21
|
5279.5
|
5327.5
|
2557.0
|
638.7
|
321.9
|
-75.3
|
D-62-01-21
|
5996.9
|
5753.7
|
2554.7
|
758.4
|
233.4
|
-83.1
|
D-62-02-21
|
5996.9
|
5753.7
|
2554.7
|
717.9
|
188.6
|
-81.2
|
D-62-03-21
|
5996.9
|
5753.7
|
2554.7
|
768.7
|
265.9
|
-85.0
|
D-66-01-21
|
5060.5
|
5509.3
|
2511.2
|
1067.4
|
195.0
|
-84.2
|
D-66-02-21
|
5060.5
|
5509.3
|
2511.2
|
591.8
|
144.0
|
-80.1
|
D-66-03-21
|
5060.5
|
5509.3
|
2511.2
|
595.4
|
146.9
|
-72.4
|
D-71-01-21
|
6004.3
|
5588.6
|
2529.3
|
791.0
|
259.0
|
-84.8
|
D-71-02-21
|
6004.3
|
5588.6
|
2529.3
|
707.8
|
228.8
|
-82.9
|
D-71-03-21
|
6004.3
|
5588.6
|
2529.3
|
779.8
|
179.0
|
-82.8
|
D-73-01-21
|
5798.7
|
5607.7
|
2578.1
|
993.9
|
106.6
|
-86.3
|
D-73-02-21
|
5798.7
|
5607.7
|
2578.1
|
806.6
|
87.3
|
-77.8
|
D-95-04-21
|
5403.1
|
5126.1
|
2549.6
|
841.8
|
66.5
|
-73.7
|
S-21-21
|
5279.5
|
5327.5
|
2557.0
|
1453.0
|
172.0
|
-87.6
|
S-73-21
|
5798.7
|
5607.7
|
2578.1
|
1582.4
|
210.2
|
-89.3
|
U-83-21
|
4844.1
|
5317.3
|
1995.3
|
1083.4
|
282.4
|
-87.6
|
Total
length
|
17049.7
|
|
General Notes with Respect to Technical Information
Grades are shown as contained metal before mill recoveries are
applied. All samples provided in this news release, were prepared
and analyzed by SGS in Durango,
Mexico using acid digestion with ICP finish for silver,
lead, zinc, and copper. Pan American implements a quality assurance
and quality control ("QAQC") program including the submission of
certified standards, blanks, and duplicate samples to the
laboratories. The results of the QAQC samples submitted to SGS
demonstrate acceptable accuracy and precision. 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 any future Mineral Resource and Mineral
Reserve estimates. 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. SGS is
independent from Pan American.
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 23, 2022, available at www.sedar.com for
further information concerning QAQC 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.
Technical information contained in this news release with
respect to Pan American has been reviewed and approved by
Christopher Emerson, FAusIMM, Vice
President Business Development 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 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.
About Pan American Silver
Pan American Silver owns and operates silver and gold mines
located in Mexico, Peru, Canada,
Argentina and Bolivia. We also own the Escobal mine in
Guatemala that is currently not
operating. Pan American Silver provides enhanced exposure to silver
through a large base of silver reserves and resources, as well as
major catalysts to grow silver production. We have a 28-year
history of operating in Latin
America, 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 NASDAQ
and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com.
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 timing for, and
anticipated results of, any exploration or development programs at
the Company's La Colorada
property, including the potential for further definition or
expansion of the mineral resource in the future; the timing
of any update to the initial resource estimate and the results of
any such update; the ability of the Company to complete additional
skarn project studies, including the review of alternative mining
methods, and the results of any such studies; and the potential
generation of minerals and the quality thereof.
These forward-looking statements and information reflect the
Company's current views with respect to future events and are
necessarily based upon a number of assumptions that, while
considered reasonable by the Company, are inherently subject to
significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include: our
Mineral Reserve and Mineral Resource estimates and the assumptions
upon which they are based; 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; prices for energy inputs, labour, materials,
supplies and services (including transportation); all necessary
permits, licenses and regulatory approvals for the La Colorada mine are received in a timely
manner; our ability to secure and maintain 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.
The Company 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 the Company has made assumptions and estimates based on
or related to many of these factors. Such factors include, without
limitation: the duration and effects of the COVID-19 virus and any
other pandemics on our operations and workforce, and the effects on
global economies and society; fluctuations in silver and gold
prices; fluctuations in prices for energy inputs, labour,
materials, supplies and services (including transportation);
fluctuations in currency markets (such as the Canadian dollar,
Peruvian sol, Mexican peso, Argentine peso and Bolivian boliviano
versus the U.S. dollar); 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 the Company 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, 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 in
Canada, the United States, Mexico, Peru,
Argentina, Bolivia, Guatemala or other countries where the Company
may carry on business, including legal restrictions relating to
mining; risks relating to expropriation; risk of liability relating
to our past sale of the Quiruvilca mine in Peru; diminishing quantities or grades of
Mineral Reserves as properties are mined; increased competition in
the mining industry for equipment and qualified personnel; and
those factors identified under the caption "Risks Related to Pan
American's Business" in the Company'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 the Company 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. The Company 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.
Cautionary Note to US Investors
This news release has been prepared in accordance with the
requirements of Canadian National Instrument 43-101 - Standards of
Disclosure for Mineral Projects (''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 United States
Securities and Exchange Commission (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. In particular,
and without limiting the generality of the foregoing, this news
release uses the terms ''Measured Resources'', ''Indicated
Resources'', and ''Inferred Resources''. U.S. investors are advised
that, while such terms are recognized and required by Canadian
securities laws, the SEC does not recognize them. 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. U.S.
investors are cautioned not to assume that any part of a "Measured
Resource" or "Indicated Resource" will ever be converted into a
"reserve". U.S. investors should also understand that "Inferred
Resources" have a great amount of uncertainty as to their existence
and great uncertainty as to their economic and legal feasibility.
It cannot be assumed that all or any part of "Inferred Resources"
exist, are economically or legally mineable or will ever be
upgraded to a higher category. Under Canadian securities laws,
estimated "Inferred Resources" may not form the basis of
feasibility or pre-feasibility studies except in rare cases.
Disclosure of "contained ounces" in a Mineral Resource is permitted
disclosure under Canadian securities laws. However, the SEC
normally only permits issuers to report mineralization that does
not constitute "reserves" by SEC standards as in place tonnage and
grade, without reference to unit measures. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pan-american-silver-provides-update-on-exploration-drilling-of-the-la-colorada-skarn-301489359.html
SOURCE Pan American Silver Corp.