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Gold/Mining/Energy : Coeur d'Alene Mining (CDE) -- Ignore unavailable to you. Want to Upgrade?

To: Yogizuna who wrote (350)	9/24/2001 8:52:24 AM
From: Robert J Mullenbach	Read Replies (2) \| Respond to of 621

$$ NEWS $$ Coeur Extends and Enriches High-Grade Gold and Silver Mineralization At Its Cerro Bayo Deposit in Chile COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Sept. 24, 2001--Coeur d'Alene Mines Corporation (NYSE:CDE - news) announced today that the latest phase of the diamond drilling program completed at the Company's Cerro Bayo deposit in Southern Chile discovered additional high-grade gold and silver mineralization at depth and along strike at the main Lucero vein. In the program, 23 diamond drill holes totaling approximately 7,900 feet have been completed. Results of the in-fill portion of the drilling program have been very positive as both grades and thicknesses have met or exceeded reserve model expectations. The exploration phase of the program has significantly extended and enriched the high-grade gold and silver mineralization in the Lucero vein along strike and to a depth of at least 400 feet below surface. The Lucero vein remains open both at depth and along strike. Drill spacing in the highest grade zones within the Lucero vein varies between 50 and 80 feet (15 to 20 meters). Results from the most recent holes are summarized in the table below: --------------------------------------------------------------------- Hole No. Drill Interval True Thickness Gold Equivalent Grade (ft) (ft) (Ounces Per Ton) --------------------------------------------------------------------- BJH319 168.5 - 179.3 6.2 0.45 --------------------------------------------------------------------- 517.5 - 524.1 3.9 0.57 --------------------------------------------------------------------- 542.2 - 554.8 7.1 2.19 --------------------------------------------------------------------- BJH320 320.4 - 327.8 3.8 0.84 --------------------------------------------------------------------- BJH322 347.1 - 351.4 3.0 6.30 --------------------------------------------------------------------- BJH323 385.8 - 392.3 3.5 0.95 --------------------------------------------------------------------- 415.6 - 424.9 6.0 0.43 --------------------------------------------------------------------- BJH325 342.9 - 361.0 11.0 0.31 --------------------------------------------------------------------- BJH326 237.3 - 247.5 3.2 0.63 --------------------------------------------------------------------- BJH328 437.5 - 455.0 9.1 0.41 --------------------------------------------------------------------- BJH329 155.5 - 164.7 5.0 0.38 --------------------------------------------------------------------- BJH331 389.9 - 400.2 5.6 2.42 --------------------------------------------------------------------- BJH334 570.1 - 581.8 7.4 1.79 --------------------------------------------------------------------- Drilling on the Luz Eliana vein, located approximately 80 feet to the east of the Lucero vein, intersected a true thickness of 6.2 feet grading 0.45 gold equivalent ounces per ton and further testing has now been planned. Given these positive results, the Company has decided to substantially expand the next phase of the program to include drilling of another high-grade gold-silver zone discovered at the northern portion of the Lucero vein. The expanded program will also begin to test a large number of mineralized veins in the immediate area where high-grade gold and silver values have been identified on the surface. The Cerro Bayo deposit is a series of parallel and sub-parallel vein systems that appear to be more consistent and of higher grade than anything previously encountered in the district. The entire mineral system can be traced over 8,200 feet along strike, and up to 3,300 feet in width. The drilling program, commenced in August of this year, has successfully confirmed and upgraded previous reserve and resource estimates. The recent drill results are presently being incorporated into the geologic model. An upgraded reserve and resource calculation as well as a comprehensive underground mine plan will be completed in early October. Coeur expects to add to the previously calculated 312,500 gold equivalent ounces of reserves and resources. Coeur expects that the mining of Cerro Bayo will generate significant cash flow at current gold and silver prices. Furthermore, there is every indication that Cerro Bayo has the potential to become a major discovery, considerably larger and of higher grade than previous work had indicated. Coeur d'Alene Mines Corporation is the leading primary silver producer in the United States. The Company has mining interests in Nevada, Idaho, Alaska, Chile and Bolivia. This press release contains forward-looking statements relating to the Company's ability to take steps to increase its shareholders' equity and achieve the continued listing of the Company's common stock on the New York Stock Exchange. The United States Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for certain forward-looking statements. The forward-looking statements in this Press Release involve significant uncertainties as to the ability of the Company to successfully effect transactions that result in an increase in the Company's shareholders' equity and to comply with certain of the New York Stock Exchange's continued listing requirements. The successful consummation of such transactions and compliance with Exchange continued listing requirement are significantly dependent upon factors beyond the Company's control. The Company may not be able to consummate such transactions or comply with such listing requirement. Contact: Coeur d'Alene Mines Corporation Investor Relations Michael Steeves, 208/769-815 biz.yahoo.com