Pan American Silver grows Mexican La Colorada resource by 38%

Pan American Silver has increased the resource estimate at its polymetallic La Colorada skarn deposit in Mexico by 38% in the Toronto-listed company’s latest market update.

The inferred resource now stands at 100.4 million tonnes (Mt), grading 44 grams per tonne silver, 0.2% copper, 1.77% lead and 4.29% zinc, containing 141 million ounces of silver, 199,000 tonnes of copper, 1.8 million pounds of lead and 4.3 Mt of zinc.

The updated resource at the deposit, which is located near Pan American’s wholly owned La Colorada underground mine in Zacatecas state, is a significant increase on the maiden inferred resource that was published in December 2019.

“In the span of only 18 months, we have been able to discover over 100 million tonnes of polymetallic mineral resources through this exciting skarn deposit at La Colorada,” said VP of exploration Christopher Emerson.

“Exploration drilling continues to demonstrate the extent of the mineralized system, which remains open in nearly all directions for resource expansions. Drilling over the last six months has further increased our confidence that the La Colorada skarn is a deposit of world-class size and quality.”

Pan American, who withdrew its 2020 production guidance back in March due to the COVID-19 pandemic, also operates silver assets across the Americas, including in Peru, Bolivia, Argentina, Guatemala and Canada.