Pan American Silver updates mineral reserves and resources as of June 2024

Pan American Silver Corp. reported its estimated mineral reserves and resources as of June 30, 2024, highlighting significant increases in both silver and gold resources. Notably, the La Colorada Skarn project saw a substantial rise in indicated mineral resources to 309 million ounces of silver, attributed to higher tonnage and grades. Infill and extensional drilling at the Jacobina mine also contributed to an increase of over 1.2 million ounces of inferred gold resources, showcasing the exploration potential of the deposit. The company emphasized the importance of ongoing exploration efforts, particularly at the Whitney joint venture project in Timmins, where over 20,500 meters of drilling were completed from 2021 to 2023. This work resulted in updated estimates for indicated and inferred gold mineral resources, totaling 93.6 thousand ounces and 574.0 thousand ounces, respectively. The exploration activities reflect Pan American's commitment to enhancing its resource base and ensuring future mineral reserve replacement. Despite the positive developments, the report noted that no mineral reserves are currently reported for the La Colorada Skarn project, indicating that further exploration and assessment are necessary to establish economic viability. The company also provided detailed tables summarizing the mineral reserves and resources, which are crucial for stakeholders and investors. Overall, the updates signify a robust outlook for Pan American Silver, with increased resources potentially leading to future economic benefits and operational growth, contingent upon successful exploration and development strategies.