Coeur Mining, Inc. (NYSE: CDE) has announced substantial gains in its mineral reserves and resources, driven by strategic investments in exploration and mine development across its portfolio.
The company’s year-end 2024 report highlights the success of ongoing projects aimed at extending mine life and unlocking new resource potential, particularly at its Kensington, Wharf, and Palmarejo operations.
“Coeur’s sustained focus on brownfield exploration investment has been incredibly successful and continues to be a key differentiator,” stated Mitchell J. Krebs, Chairman, President and Chief Executive Officer.
“Over the past five years, our gold and silver mineral reserves have increased 40 per cent and 48 per cent, respectively, net of depletion, and our gold and silver mineral resources have grown considerably.”
A multi-year underground development and drilling investment program at the Kensington mine in Alaska has yielded significant results, doubling the mine’s life to five years.
Proven and probable gold reserves at Kensington have increased by 22 per cent to 500,000 ounces.
This project has provided greater operational flexibility and access to previously untapped ore bodies, securing Kensington’s position as a key asset in Coeur Mining’s portfolio.
The Wharf mine in South Dakota is poised for a significant mine life extension following a successful mine optimisation initiative in 2024.
Gold measured and indicated mineral resources more than doubled, with inferred resources more than tripling.
Infill drilling is accelerating in 2025, with the goal of converting these resources into reserves and further extending the mine’s operational horizon.
Coeur Mining’s exploration program at the Palmarejo operation in Mexico continues to demonstrate the potential for significant resource expansion.
A sustained emphasis on growing the pipeline of silver and gold inferred mineral resources led to an 84 per cent increase in silver inferred mineral resources and a 69 per cent increase in gold inferred mineral resources.
Expansion drilling in the Hidalgo corridor is yielding positive results, with notable intercepts at the Libertad and San Juan deposits.
These deposits, located northwest of the Independencia deposit, have been substantially extended and remain open along strike and down dip, offering excellent potential for future reserve growth.
Coeur is strategically focusing its exploration efforts at Palmarejo to the east, outside of the Franco Nevada gold stream area.
Approximately 60 per cent of the total 2025 exploration spending is expected to be directed toward these highly prospective areas in the eastern portion of the Palmarejo district, which the company has now fully consolidated.
This includes work on the Independencia Sur claim, recently acquired from Fresnillo, where validation drilling is planned to assess the potential for resource expansion near existing underground infrastructure.
District exploration outside the encumbered gold stream accelerated significantly in 2024, with mapping and sampling extending trends at the San Miguel, La Union, and San Isidro veins. District exploration of this area is expected to continue in 2025 and beyond.
Coeur Mining’s strategic investments in exploration and mine development are paying dividends, driving substantial resource growth and extending mine lives across its key operations.
The company’s focus on brownfield exploration and strategic acquisitions, such as SilverCrest, is positioning it for continued success in the gold and silver mining industry.
Coeur Mining increased its gold and silver price assumptions for year-end 2024 resources from US$1,800 per ounce to US$2,100 per ounce and from US$25.00 per ounce to US$27.00 per ounce, respectively, except at Kensington which gold price assumption increased from US$2,000 per ounce to US$2,300 per ounce.
