Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (251617)	7/23/2003 9:22:27 AM
From: j-at-home	Respond to of 436258

CDE PR today Coeur d'Alene Mines Reports First San Bartolome Silver Reserves And New Thick, High-Grade Gold Veins Intercepted at Cerro Bayo Mine PR NEWSWIRE - July 23, 2003 08:45 COEUR D'ALENE, Idaho, Jul 23, 2003 /PRNewswire-FirstCall via COMTEX/ -- Coeur d'Alene Mines Corporation (NYSE: CDE), the world's largest primary silver producer and a growing gold producer, announced today that silver resources at the Company's San Bartolome mining project in Bolivia have been converted to proven and probable reserves totaling 126 million ounces, which represent a 164 percent growth in company-wide silver reserves. In addition, exploration drilling at the Company's Cerro Bayo property in southern Chile has intersected a major new mineralized zone near the underground workings that contains 27 feet of 0.77 gold equivalent ounces per ton. San Bartolome Reserves San Bartolome is an advanced stage development project with reserves contained in silver-bearing gravel deposits that can be hauled directly to processing facilities. The new reserves measure 35.3 million tons containing 3.58 ounces of silver per ton. The deposits are located near Potosi, Bolivia, in a region with historical silver production of over two billion ounces. The completion of the ore reserves, in conjunction with the updated feasibility study underway, allows the company to proceed with the final mine plan and construction cost estimates. Assuming a construction decision by early 2004, the project could be in operation in 2005 after an 18-month construction period. Anticipated silver production at San Bartolome would average almost six million ounces a year for at least ten years. In addition, Coeur has established that tin can be commercially recovered on two of the deposits, which will also significantly add to project economics. "The completion of the San Bartolome proven and probable ore reserves is a major milestone in the development of the mine," said Dennis E. Wheeler, Chairman and Chief Executive Officer. "The addition of these reserves further solidifies Coeur's position as the preeminent silver company. Once in production, San Bartolome would increase Coeur's total silver output by 40 percent, further building on our position as the world's largest primary silver producer." Major New Drill Results at Cerro Bayo The major new high-grade zone at Cerro Bayo is located 600 feet west of existing underground infrastructure of the Cerro Bayo mine. The mineralized zone is composed of two high grade veins containing 5.7 feet of 0.97 gold equivalent ounces per ton, and 7.7 feet of 1.33 gold equivalent ounces per ton. "The discovery of this new very high-grade zone is significant because unlike other veins nearby there was no surface visibility," said Mr. Wheeler. "Also, the discovery was based on our new geologic model at the mine, which demonstrates our ability to find new high-grade zones through the application of that model." There are now 15 mineralized veins known to exist in the central Cerro Bayo area. Known veins yet to be explored in the central Cerro Bayo area alone total more than eight miles in total length. Coeur controls a total of over 108 square miles in the Cerro Bayo property. Coeur d'Alene Mines Corporation is the world's largest primary silver producer, as well as a significant, low-cost producer of gold. The Company has mining interests in Nevada, Idaho, Alaska, Argentina, Chile and Bolivia.