Pan American owns 100% of the large polymetallic deposit discovered in 2018 through brownfield exploration near its La Colorada mine. The deposit is estimated to contain 141 million ounces of silver and a large volume of base metals based on the inferred mineral resource estimate of 100.4 million tonnes released on August 4, 2020.

Inferred Mineral Resource Estimate

Reported mineral resources do not include amounts identified as mineral reserves. Mineral resources that are not mineral reserves have no demonstrated economic viability. Assuming a cut-off grade of US$60/tonne. Prices used to estimate inferred mineral resources were: US$18.50 per ounce of silver, US$2,600 per tonne of zinc, US$2,200 per tonne of lead, and US$6,500 per tonne of copper. Refer to the August 4, 2020 news release for further details. The effective date of the inferred mineral resources estimate is August 4, 2020. Mineral resources are not mineral reserves and have no demonstrated economic viability. The inferred mineral resource estimate was prepared under the supervision of, or was reviewed by, Christopher Emerson, FAusIMM, Vice President Business Development and Geology and Martin G. Wafforn, P.Eng., Senior Vice President Technical Services and Process Optimization, each of whom is a Qualified Person as that term is defined in National Instrument 43-101. Please refer to our Legal Notice for cautionary information on forward-looking statements and mineral reserve and resources.

Video of Skarn Discovery

NEWS RELEASES

Pan American provided drill results for the La Colorada discovery in the following news releases:

Pan American Silver increases La Colorada skarn deposit mineral resource estimate to 100.4 million tonnes and provides drilling update

August 4, 2020

Pan American Silver Reports Recent Drill Results for the La Colorada Skarn Discovery

February 13, 2020 

Pan American Silver Estimates Initial Mineral Resource of 72.5 million tonnes for the La Colorada Skarn Deposit

December 11, 2019

Pan American Silver Reports Drill Results from the La Colorada Skarn Discovery with Intercepts up to 379 Metres

October 30, 2019

Pan American Silver Reports Continued Exploration Success at La Colorada

August 1, 2019

Pan American Silver Reports First Quarter 2019 Results

May 8, 2019

Pan American Silver Reports Mineral Reserves of 280 Million Ounces and Continued Success at the La Colorada Skarn Discovery

February 21, 2019

Pan American Silver Announces Major Discovery at its La Colorada Mine

October 23, 2018