8-K: Coeur Mining Releases Technical Report Summary for Las Chispas Mine, Outlines Robust Mineral Reserves and Resources

Coeur Mining issues a technical report summary for its Las Chispas Mine, detailing mineral resources, reserves, and economic analysis as of December 31, 2024.

Summary

• Coeur Mining has released a technical report summary for its Las Chispas Mine in Sonora, Mexico, effective December 31, 2024.
• The report details mineral resource and reserve estimates in accordance with S-K 1300 regulations.
• The Las Chispas Property consists of 27 mineral concessions totaling 1,414 ha.
• As of December 31, 2024, the mine has proven and probable mineral reserves of 3,163 kt with an average silver grade of 329.6 g/t and gold grade of 3.51 g/t.
• The mine's measured and indicated mineral resources, exclusive of mineral reserves, are 1,098 kt with an average silver grade of 408.4 g/t and gold grade of 4.41 g/t.
• The inferred mineral resources are 1,158 kt with an average silver grade of 271.0 g/t and gold grade of 3.86 g/t.
• The economic analysis demonstrates positive economics with a post-tax NPV (5%) of $538.6M, based on metal prices of $2,700/oz gold and $30.00/oz silver in 2025, declining to $2,400/oz gold and $28.00/oz silver in 2029.
• The report recommends further exploration and mineral resource conversion drilling in 2025, with a budget of $16.3M.

Sentiment

Score: 8

Explanation: The document presents a positive outlook for the Las Chispas Mine, with robust mineral reserves, resources, and a positive economic analysis. The mine is currently operating and has a clear plan for future exploration and development.

Positives

• The Las Chispas Operation has a seven-year mine life remaining overall.
• The economic analysis demonstrates that the mine plan has positive economics under the assumptions used.
• The Process Plant is located at the mine site and receives blended feed material from several different mineralized veins.
• The Process Plant is using the bulk leach circuit to perform a whole ore leach at ~2,000 ppm CN.
• The Process Plant is achieving an overall availability of greater than the design value of 91.3%.

Risks

• The Mineral Reserve estimates are sensitive to metal prices and exchange rate assumptions.
• Changes to the assumptions used to generate the gold equivalent cut-off grade may affect the Mineral Reserve Estimates.
• Changes in local interpretations of mineralization geometry and continuity of mineralized zones may affect the Mineral Reserve Estimates.
• Changes to geotechnical, mining and metallurgical recovery assumptions may affect the Mineral Reserve Estimates.
• Assumptions as to the continued ability to access the site, retain mineral and surface rights titles, maintain environment and other regulatory permits, and maintain the social license to operate may affect the Mineral Reserve Estimates.

Future Outlook

The report outlines a plan for continued exploration and development activities in 2025, with a focus on converting Inferred Mineral Resources to Indicated and discovering new mineralization.

Industry Context

The Las Chispas Mine is classified as a low to intermediate sulfidation gold and silver epithermal system, similar to other operating mines in northeastern Sonora, Mexico, such as the Santa Elena Mine and the Mercedes Mine.

Comparison to Industry Standards

• The Las Chispas Mine is comparable to the Santa Elena Mine, operated by First Majestic Silver Corp., which is a gold-silver underground mine processing 2,500 t/d and located 22 km south-southwest of Las Chispas.
• The Las Chispas Mine is also comparable to the Mercedes Mine, operated by Bear Creek Mining Corp., which is a gold-silver underground mine processing 2,000 t/d and located 33 km to the northwest of Las Chispas.
• The mineral deposits being exploited at these mines are low to intermediate sulphidation epithermal veins with associated breccia and stockwork over varying thicknesses of <1 m to >10 m.
• The gold-silver mineralization found on these properties is similar to Las Chispas in lithology, structural controls, alteration, and geochemistry with some variations.

Stakeholder Impact

• The report provides information relevant to shareholders regarding the value and potential of the Las Chispas Mine.
• The report outlines the company's commitment to environmental and social responsibility, which is important for stakeholders.
• The report provides information on the economic impact of the mine on the local community, including employment and procurement.

Next Steps

• Exploration and Mineral Resource conversion drilling (74,800 m) in 2025.
• QA/QC procedures.
• Bulk Density Investigation.
• Resource Estimation.
• Mine Design.

Key Dates