VANCOUVER, BC,
May 9,
2022 /PRNewswire/ - Pan American Silver Corp.
(NASDAQ: PAAS) (TSX: PAAS) ("Pan American" or the "Company") today
provides results for 43 new infill and exploration drill holes
totaling 38,460 metres, all of which contain multiple skarn and
breccia intercepts. Highlights include infill hole U-04-22 with
233.70 metres at 44g/t Ag, 4.05% Pb and 5.04% Zn and step-out hole
U-08-22 with 174.95 metres at 40 g/t Ag, 0.17% Pb and 7.95% Zn and
46.95 metres at 78 g/t Ag, 3.84% Pb, 8.79% Zn.
"We drilled more metres on the skarn in the first quarter of
2022 than during any other quarterly period, with infill drilling
increasing our confidence in the central skarn resource and
exploration drilling further defining the extensions to the east,
south and west," said Christopher
Emerson, Pan American's Vice President Business Development
and Geology. "Over 100,000 metres have been drilled on the skarn
since the last resource estimate dated August 4, 2020, and the program continues with 14
machines. The results from this program will be included in an
updated resource estimate that we plan to provide in the third
quarter of 2022."
Drill Highlights Include:
- U-04-22: 233.70 m of 44
g/t Ag, 0.15% Cu, 4.05% Pb and 5.04% Zn
- U-08-22: 174.95 m of 40
g/t Ag, 0.21% Cu, 0.17% Pb and 7.95% Zn including 99.10 m of 56 g/t Ag, 0.28% Cu, 0.24% Pb and
10.78% Zn and 46.95 m of 78
g/t Ag, 0.07% Cu, 3.84% Pb and 8.79% Zn
- D-96-01-21: 154.00 m of 57
g/t Ag, 0.08% Cu, 2.43% Pb and 4.36% Zn, including 96.00 m of 78 g/t Ag, 0.11% Cu, 3.12% Pb and
5.68% Zn
- U-105-21: 121.45 m of 77
g/t Ag, 0.08% Cu, 2.00% Pb and 5.48% Zn; and 32.90 m of 104 g/t Ag, 0.09% Cu, 0.36% Pb and
3.43% Zn; and 44.15 m of 114
g/t Ag, 0.04% Cu, 3.15% Pb and 4.15% Zn; and 16.55 m of 122 g/t Ag, 0.11% Cu, 5.05% Pb and
9.07% Zn
- U-127-21: 101.90 m of 43
g/t Ag, 0.18% Cu, 0.48% Pb and 6.62% Zn
- U-95-21: 88.30 m of 49 g/t
Ag, 0.07% Cu, 1.46% Pb and 5.08% Zn; and 35.35 m of 83 g/t Ag, 0.03% Cu, 3.66% Pb and
2.14% Zn; and 22.55 m of 176
g/t Ag, 0.09% Cu, 3.33% Pb and 5.94% Zn
- D-62-04-21: 117.10 m of 64
g/t Ag, 0.06% Cu, 2.06% Pb and 3.24% Zn including 53.05 m of 99 g/t Ag, 0.07% Cu, 4.07% Pb and
5.97% Zn and 28.35 m of 157
g/t Ag, 0.02% Cu, 4.56% Pb and 5.82% Zn
- D-77-01-22: 102.05 m of 58
g/t Ag, 0.13% Cu, 1.42% Pb and 3.43% Zn including 26.65 m of 124 g/t Ag, 0.22% Cu, 2.26% Pb and
5.53% Zn and 15.30 m of 43 g/t
Ag, 0.03% Cu, 2.46% Pb and 4.38% Zn
Drilling from an underground platform into the western part of
the skarn deposit has successfully expanded the mineralization 120
metres to the northwest with step-out drill holes 105-21, 08-22,
95-21, and 127-21 all containing multiple polymetallic sulphide
intercepts up to 175 metres in length, as reported in "Drill
Highlights" above. The skarn deposit remains open to the northwest
and at depth.
Infill drilling in the central eastern part of the deposit
confirmed continuous mineralization over a 400 metre-wide area.
The eastern part of the deposit has been extended 80 metres to
the north and south, with infill and exploration drilling from
surface platforms defining multiple mineralized intercepts in
step-out drill holes D-73-1-21 and D-71-04-21 and D-62-04-21,
ranging between 10 to 117 metres wide.
The central part of the deposit was extended 150 metres to the
south with step out drilling from surface located at S-90-21 and
S-95-21. Six holes (95-04/05/06/07/08
and 09) all reported wide zones of breccia-style mineralization up
to 215 metres thick. The deposit remains open to the south.
Summary of Drill Results
The following table provides
the drill results for the La
Colorada skarn deposit for the first quarter of 2022.
Previous drill results not included in this table are disclosed
in Pan American's news releases, which are available, together with
cross sections, plan and images of the skarn mineralized core,
at:
https://www.panamericansilver.com/operations/exploration/la-colorada-skarn/.
|
Hole
No.
|
From
(m)
|
To
(m)
|
Interval (m)
(1)
|
Ag
g/t
|
Cu %
|
Pb %
|
Zn %
|
|
D-03-02-21
|
511.90
|
516.55
|
4.65
|
100
|
0.14
|
1.82
|
4.19
|
|
and
|
1130.45
|
1176.15
|
45.70
|
34
|
0.27
|
1.18
|
2.35
|
|
D-62-04-21
|
1030.45
|
1058.80
|
28.35
|
157
|
0.02
|
4.56
|
5.82
|
|
and
|
1187.10
|
1304.20
|
117.10
|
64
|
0.06
|
2.06
|
3.24
|
|
Including
|
1187.10
|
1240.15
|
53.05
|
99
|
0.07
|
4.07
|
5.97
|
|
D-62-05-21
|
1057.30
|
1070.70
|
13.40
|
123
|
0.04
|
3.88
|
6.57
|
|
and
|
1482.75
|
1514.40
|
31.65
|
125
|
0.53
|
0.78
|
1.38
|
|
and
|
1554.70
|
1593.80
|
39.10
|
102
|
0.26
|
0.69
|
8.82
|
|
D-66-04-21
|
1301.20
|
1304.25
|
3.05
|
355
|
0.02
|
1.21
|
0.25
|
|
and
|
1314.75
|
1341.00
|
26.25
|
28
|
0.07
|
2.21
|
4.02
|
|
D-66-05-21
|
1059.35
|
1068.45
|
9.10
|
58
|
0.39
|
1.33
|
8.02
|
|
and
|
1149.55
|
1160.85
|
11.30
|
42
|
0.12
|
2.60
|
4.03
|
|
D-71-04-21(2)
|
1291.80
|
1361.20
|
69.40
|
71
|
0.07
|
2.37
|
6.64
|
|
and
|
1376.30
|
1389.20
|
12.90
|
39
|
0.21
|
3.49
|
5.54
|
|
D-71-05-22
|
1147.95
|
1177.55
|
29.60
|
27
|
0.03
|
1.29
|
2.63
|
|
and
|
1264.65
|
1332.65
|
68.00
|
27
|
0.07
|
1.00
|
1.61
|
|
D-73-01-21(3)
|
1235.35
|
1251.85
|
16.50
|
50
|
0.15
|
1.19
|
3.14
|
|
and
|
1525.05
|
1593.45
|
68.40
|
52
|
0.38
|
0.32
|
1.47
|
|
D-73-03-21
|
988.95
|
1030.00
|
41.05
|
39
|
0.06
|
2.15
|
3.40
|
|
and
|
1053.50
|
1128.85
|
75.35
|
75
|
0.13
|
1.20
|
3.15
|
|
Including
|
1082.20
|
1103.40
|
21.20
|
55
|
0.17
|
2.54
|
4.79
|
|
D-73-04-21
|
994.60
|
1098.65
|
104.05
|
23
|
0.04
|
1.30
|
2.61
|
|
Including
|
1052.20
|
1072.40
|
20.20
|
45
|
0.11
|
2.72
|
4.86
|
|
and
|
1474.60
|
1481.75
|
7.15
|
6
|
0.03
|
0.02
|
7.37
|
|
D-73-05-21
|
957.45
|
963.50
|
6.05
|
29
|
0.07
|
1.87
|
4.12
|
|
and
|
1149.15
|
1195.55
|
46.40
|
25
|
0.20
|
1.59
|
4.62
|
|
D-77-01-22
|
864.65
|
879.95
|
15.30
|
43
|
0.03
|
2.46
|
4.38
|
|
and
|
1101.20
|
1203.25
|
102.05
|
58
|
0.13
|
1.42
|
3.43
|
|
Including
|
1161.85
|
1188.50
|
26.65
|
124
|
0.22
|
2.26
|
5.53
|
|
D-79-01-21
|
630.80
|
652.95
|
22.15
|
73
|
0.25
|
1.95
|
6.91
|
|
D-79-02-21
|
635.90
|
652.15
|
16.25
|
69
|
0.17
|
1.85
|
5.77
|
|
D-79-03-21
|
999.75
|
1011.20
|
11.45
|
19
|
0.13
|
0.18
|
2.31
|
|
D-79-04-22
|
1025.90
|
1039.05
|
13.15
|
61
|
0.31
|
0.29
|
2.15
|
|
D-81-05-22
|
787.10
|
797.15
|
10.05
|
380
|
0.15
|
2.52
|
5.25
|
|
D-90-01-21
|
676.25
|
702.10
|
25.85
|
143
|
1.14
|
0.87
|
0.93
|
|
and
|
772.50
|
785.50
|
13.00
|
112
|
1.08
|
3.71
|
4.73
|
|
and
|
970.00
|
990.20
|
20.20
|
54
|
0.09
|
2.69
|
3.13
|
|
and
|
1374.10
|
1433.00
|
58.90
|
13
|
0.04
|
2.12
|
2.84
|
|
D-93-01-21
|
1066.00
|
1208.10
|
142.10
|
16
|
0.08
|
1.18
|
2.17
|
|
Including
|
1182.00
|
1208.10
|
26.10
|
35
|
0.22
|
1.90
|
2.54
|
|
and
|
1342.90
|
1391.00
|
48.10
|
37
|
0.02
|
0.21
|
2.97
|
|
D-93-02-21
|
1053.85
|
1242.25
|
188.40
|
20
|
0.10
|
1.45
|
2.43
|
|
Including
|
1084.30
|
1119.45
|
35.15
|
24
|
0.11
|
2.04
|
3.94
|
|
D-95-04-21(3)
|
1101.15
|
1316.40
|
215.25
|
31
|
0.09
|
1.12
|
1.76
|
|
Including
|
1155.60
|
1191.75
|
36.15
|
64
|
0.11
|
1.93
|
2.53
|
|
and
|
1365.15
|
1381.95
|
16.80
|
32
|
0.21
|
2.74
|
5.67
|
|
and
|
1627.15
|
1695.20
|
68.05
|
44
|
0.24
|
0.27
|
3.57
|
|
D-95-05-21
|
1066.00
|
1089.75
|
23.75
|
56
|
0.16
|
0.91
|
2.20
|
|
and
|
1355.65
|
1383.75
|
28.10
|
85
|
0.69
|
1.21
|
2.16
|
|
D-95-06-21
|
1068.60
|
1079.45
|
10.85
|
44
|
0.07
|
0.77
|
2.05
|
|
and
|
1279.10
|
1283.60
|
4.50
|
185
|
0.30
|
6.30
|
6.85
|
|
D-95-07-21
|
1142.20
|
1189.75
|
47.55
|
57
|
0.15
|
1.86
|
2.45
|
|
and
|
1199.00
|
1286.65
|
87.65
|
28
|
0.14
|
1.38
|
3.22
|
|
and
|
1320.15
|
1404.90
|
84.75
|
36
|
0.20
|
1.58
|
3.15
|
|
D-95-08-21
|
1344.85
|
1359.50
|
14.65
|
85
|
0.25
|
3.59
|
6.62
|
|
and
|
1381.05
|
1417.60
|
36.55
|
46
|
0.13
|
1.05
|
2.13
|
|
and
|
1568.95
|
1595.65
|
26.70
|
58
|
0.40
|
0.55
|
3.66
|
|
D-95-09-22
|
1144.25
|
1156.20
|
11.95
|
250
|
0.45
|
3.63
|
5.68
|
|
and
|
1466.55
|
1480.35
|
13.80
|
88
|
0.24
|
0.71
|
3.75
|
|
D-96-01-21
|
1199.20
|
1353.20
|
154.00
|
57
|
0.08
|
2.43
|
4.36
|
|
Including
|
1199.20
|
1295.20
|
96.00
|
78
|
0.11
|
3.12
|
5.68
|
|
D-96-02-22
|
1303.90
|
1331.65
|
27.75
|
68
|
0.06
|
2.49
|
4.66
|
|
S-79-21
|
630.35
|
654.50
|
24.15
|
138
|
0.56
|
1.74
|
7.69
|
|
and
|
1391.10
|
1401.85
|
10.75
|
16
|
0.03
|
2.72
|
4.26
|
|
and
|
1416.85
|
1430.15
|
13.30
|
56
|
0.06
|
3.20
|
8.16
|
|
and
|
1469.20
|
1501.30
|
32.10
|
32
|
0.04
|
0.35
|
3.23
|
|
and
|
1522.25
|
1538.55
|
16.30
|
29
|
0.07
|
0.32
|
3.69
|
|
S-90-21
|
687.30
|
832.10
|
144.80
|
60
|
0.41
|
0.99
|
1.72
|
|
and
|
1036.05
|
1083.75
|
47.70
|
25
|
0.09
|
0.70
|
2.26
|
|
S-93-21
|
1051.25
|
1074.60
|
23.35
|
67
|
0.03
|
2.93
|
1.74
|
|
and
|
1086.25
|
1118.10
|
31.85
|
15
|
0.07
|
1.32
|
2.21
|
|
and
|
1140.10
|
1246.45
|
106.35
|
22
|
0.05
|
2.28
|
2.48
|
|
S-96-21
|
173.50
|
188.05
|
14.55
|
1092
|
0.07
|
0.72
|
1.12
|
|
and
|
1274.45
|
1402.80
|
128.35
|
37
|
0.06
|
2.08
|
3.35
|
|
S-96A-21
|
180.70
|
188.50
|
7.80
|
575
|
0.05
|
0.45
|
0.86
|
|
U-04-22
|
579.40
|
813.10
|
233.70
|
44
|
0.15
|
4.05
|
5.04
|
|
Including
|
670.70
|
755.25
|
84.55
|
49
|
0.22
|
4.96
|
6.51
|
|
U-07-22
|
891.55
|
894.80
|
3.25
|
134
|
0.06
|
1.72
|
14.25
|
|
U-08-22
|
392.35
|
423.85
|
31.50
|
79
|
0.09
|
2.82
|
3.83
|
|
and
|
532.20
|
570.65
|
38.45
|
60
|
0.03
|
3.45
|
4.53
|
|
and
|
697.90
|
744.85
|
46.95
|
78
|
0.07
|
3.84
|
8.79
|
|
and
|
890.15
|
1065.10
|
174.95
|
40
|
0.21
|
0.17
|
7.95
|
|
Including
|
920.70
|
1019.80
|
99.10
|
56
|
0.28
|
0.24
|
10.78
|
|
U-105-21
|
311.15
|
327.70
|
16.55
|
122
|
0.11
|
5.05
|
9.07
|
|
and
|
495.15
|
499.50
|
4.35
|
104
|
0.20
|
3.98
|
5.89
|
|
and
|
551.35
|
595.50
|
44.15
|
114
|
0.04
|
3.15
|
4.15
|
|
and
|
641.50
|
762.95
|
121.45
|
77
|
0.08
|
2.00
|
5.48
|
|
Including
|
641.50
|
722.40
|
80.90
|
95
|
0.08
|
2.07
|
6.77
|
|
and
|
874.15
|
907.05
|
32.90
|
104
|
0.09
|
0.36
|
3.43
|
|
and
|
944.30
|
969.15
|
24.85
|
14
|
0.11
|
0.04
|
4.59
|
|
U-109-21
|
868.00
|
874.55
|
6.55
|
69
|
0.12
|
0.26
|
7.29
|
|
U-110-21
|
442.50
|
449.40
|
6.90
|
223
|
0.04
|
3.04
|
6.97
|
|
U-115-21
|
143.15
|
174.15
|
31.00
|
42
|
0.02
|
1.18
|
4.48
|
|
and
|
730.70
|
739.15
|
8.45
|
575
|
0.07
|
14.63
|
16.14
|
|
and
|
789.20
|
828.90
|
39.70
|
72
|
0.11
|
4.16
|
6.24
|
|
U-125-21
|
577.30
|
583.55
|
6.25
|
248
|
0.06
|
3.65
|
13.59
|
|
U-127-21
|
937.00
|
968.60
|
31.60
|
86
|
0.13
|
0.48
|
3.50
|
|
and
|
1002.50
|
1104.40
|
101.90
|
43
|
0.18
|
0.48
|
6.62
|
|
Including
|
1004.60
|
1061.00
|
56.40
|
59
|
0.22
|
0.57
|
9.94
|
|
and
|
1135.20
|
1149.00
|
13.80
|
53
|
2.12
|
0.10
|
0.22
|
|
U-95-21
|
369.80
|
392.35
|
22.55
|
176
|
0.09
|
3.33
|
5.94
|
|
and
|
506.05
|
541.40
|
35.35
|
83
|
0.03
|
3.66
|
2.14
|
|
and
|
790.95
|
879.25
|
88.30
|
49
|
0.07
|
1.46
|
5.08
|
|
Including
|
808.40
|
821.85
|
13.45
|
70
|
0.18
|
2.16
|
19.73
|
|
|
|
(1)
|
True widths of the
mineralized intervals are unknown at this time.
|
|
(2)
|
Partial results
received.
|
|
(3)
|
Partial results were
reported in the news release dated February 24, 2022.
|
La Colorada Skarn - Drill Hole Collar Information
|
Drill Hole
ID
|
Type
|
East
Local
|
North
Local
|
Elevation
|
Length
(m)
|
Azimuth Avg
(0)
|
Dip
Avg
|
|
D-03-02-21
|
Infill
|
5367.1
|
5477.5
|
2556.2
|
930.0
|
146.5
|
-80.9
|
|
D-62-04-21
|
Exploration
|
5996.9
|
5753.7
|
2554.7
|
503.4
|
120.1
|
-84.6
|
|
D-62-05-22
|
Exploration
|
5996.9
|
5753.7
|
2554.7
|
719.5
|
16.6
|
-86.3
|
|
D-66-04-21
|
Infill
|
5060.5
|
5509.3
|
2511.2
|
897.7
|
143.7
|
-68.8
|
|
D-66-05-21
|
Infill
|
5060.5
|
5509.3
|
2511.2
|
870.6
|
168.3
|
-74.0
|
|
D-71-04-21
|
Infill
|
6004.3
|
5588.6
|
2529.3
|
811.2
|
195.3
|
-80.1
|
|
D-71-05-22
|
Infill
|
6004.3
|
5588.6
|
2529.3
|
721.2
|
30.3
|
-80.0
|
|
D-73-01-21
|
Infill
|
5798.7
|
5607.7
|
2578.1
|
994.9
|
105.1
|
-86.9
|
|
D-73-03-21
|
Infill
|
5798.7
|
5607.7
|
2578.1
|
825.6
|
302.1
|
-80.6
|
|
D-73-04-21
|
Infill
|
5798.7
|
5607.7
|
2578.1
|
702.8
|
44.5
|
-81.0
|
|
D-73-05-21
|
Infill
|
5798.7
|
5607.7
|
2578.1
|
707.0
|
27.8
|
-74.0
|
|
D-77-01-22
|
Exploration
|
5777.8
|
5504.1
|
2540.8
|
814.1
|
87.0
|
-81.0
|
|
D-79-01-21
|
Exploration
|
5808.0
|
5209.2
|
2482.2
|
802.4
|
253.2
|
-79.0
|
|
D-79-02-21
|
Exploration
|
5808.0
|
5209.2
|
2482.2
|
742.9
|
206.4
|
-61.2
|
|
D-79-03-21
|
Exploration
|
5808.0
|
5209.2
|
2482.2
|
823.6
|
224.9
|
-77.9
|
|
D-79-04-22
|
Exploration
|
5808.0
|
5209.2
|
2482.2
|
675.8
|
319.3
|
-84.1
|
|
D-81-05-22
|
Infill
|
5804.8
|
5770.1
|
2590.7
|
645.7
|
256.9
|
-80.7
|
|
D-90-01-21
|
Exploration
|
5538.7
|
5004.4
|
2532.2
|
1075.6
|
133.2
|
-82.1
|
|
D-93-01-21
|
Infill
|
4926.3
|
5166.1
|
2469.7
|
581.2
|
138.7
|
-77.0
|
|
D-93-02-21
|
Infill
|
4926.3
|
5166.1
|
2469.7
|
489.1
|
225.4
|
-66.7
|
|
D-95-04-21
|
Exploration
|
5403.1
|
5126.1
|
2549.6
|
841.3
|
72.9
|
-72.1
|
|
D-95-05-21
|
Exploration
|
5403.1
|
5126.1
|
2549.6
|
574.8
|
129.1
|
-77.8
|
|
D-95-06-21
|
Exploration
|
5403.1
|
5126.1
|
2549.6
|
573.0
|
92.3
|
-74.0
|
|
D-95-07-21
|
Exploration
|
5403.1
|
5126.1
|
2549.6
|
783.9
|
12.6
|
-73.4
|
|
D-95-08-21
|
Exploration
|
5403.1
|
5126.1
|
2549.6
|
796.0
|
41.4
|
-81.3
|
|
D-95-09-22
|
Exploration
|
5403.1
|
5126.1
|
2549.6
|
832.3
|
71.8
|
-83.0
|
|
D-96-01-21
|
Infill
|
4654.7
|
5286.4
|
2506.4
|
639.0
|
122.9
|
-75.8
|
|
D-96-02-22
|
Infill
|
4654.7
|
5286.4
|
2506.4
|
793.0
|
129.7
|
-81.7
|
|
S-79-21
|
Exploration
|
5808.0
|
5209.2
|
2482.2
|
1652.3
|
286.9
|
-86.8
|
|
S-90-21
|
Exploration
|
5538.7
|
5004.4
|
2532.2
|
1664.8
|
0.0
|
-90.0
|
|
S-93-21
|
Infill
|
4926.3
|
5166.1
|
2469.7
|
1416.0
|
22.6
|
-73.6
|
|
S-96-21
|
Infill
|
4654.7
|
5286.4
|
2506.4
|
1496.5
|
104.4
|
-80.0
|
|
S-96A-21
|
Infill
|
4656.1
|
5285.5
|
2505.1
|
188.5
|
0.0
|
-90.0
|
|
U-04-22
|
Infill
|
4843.3
|
5321.3
|
1995.1
|
814.1
|
187.8
|
-80.6
|
|
U-07-22
|
Exploration
|
4423.7
|
5065.6
|
2102.9
|
1200.4
|
150.9
|
-83.2
|
|
U-08-22
|
Infill
|
4844.9
|
5324.0
|
1995.2
|
1152.1
|
358.0
|
-82.6
|
|
U-105-21
|
Exploration
|
4845.6
|
5319.5
|
1995.6
|
1023.4
|
323.0
|
-81.9
|
|
U-109-21
|
Exploration
|
4495.1
|
5329.6
|
2070.1
|
1175.5
|
242.1
|
-83.3
|
|
U-110-21
|
Exploration
|
4426.4
|
5067.8
|
2106.1
|
1253.7
|
262.8
|
-88.3
|
|
U-115-21
|
Exploration
|
4843.3
|
5321.3
|
1995.1
|
926.8
|
230.5
|
-78.2
|
|
U-125-21
|
Exploration
|
4426.4
|
5067.8
|
2106.1
|
1176.1
|
92.2
|
-86.9
|
|
U-127-21
|
Exploration
|
4496.1
|
5330.1
|
2070.5
|
1187.7
|
115.3
|
-87.5
|
|
U-95-21
|
Exploration
|
4845.0
|
5320.8
|
1995.5
|
965.1
|
25.1
|
-83.7
|
|
|
|
|
Total Metres
|
38460.0
|
|
|
General Notes with Respect to Technical Information
Grades are shown as contained metal before mill recoveries are
applied. All samples provided in this news release were assayed by
SGS Durango, Mexico using acid digestion with ICP finish for
silver, lead, zinc, and copper and ALS Global using the same
analytical procedure. Samples sent to SGS Durango were prepared in
Durango and ALS Global are prepared in Zacatecas, Mexico laboratory and send to
Vancouver B.C. Laboratory for
assay. Pan American implements a quality assurance and
quality control ("QAQC") program including the submission of
certified standards, blanks, and duplicate samples to the
laboratories. The results of the QAQC samples submitted to SGS and
ALS demonstrate acceptable accuracy and precision. The
Qualified Person is of the opinion that the sample preparation,
analytical, and security procedures followed for the samples are
sufficient and reliable for the purpose of any future Mineral
Resource and Mineral Reserve estimates. Pan American is not aware
of any drilling, sampling, recovery or other factors that could
materially affect the accuracy or reliability of the data reported
herein. SGS and ALS are independent from Pan American.
Mineral Resources and Mineral Reserves are as defined by the
Canadian Institute of Mining, Metallurgy and Petroleum.
Mineral Resources that are not Mineral Reserves have no
demonstrated economic viability. No Mineral Reserves have yet been
estimated for the Skarn deposit.
See the Company's Annual Information Form dated February 23, 2022, available at www.sedar.com for
further information concerning QAQC and data verification matters,
the key assumptions, parameters and methods used by the Company to
estimate Mineral Reserves and Mineral Resources, and for a detailed
description of known legal, political, environmental, and other
risks that could materially affect the Company's business and the
potential development of the Company's Mineral Reserves and Mineral
Resources.
Technical information contained in this news release with
respect to Pan American has been reviewed and approved by
Christopher Emerson, FAusIMM, Vice
President Business Development and Geology, and Martin Wafforn,
P.Eng., Senior Vice President Technical Services and Process
Optimization, each of whom is a Qualified Person for the purposes
of National Instrument 43-101 - Standards of Disclosure for Mineral
Projects (''NI 43-101'').
Pan American Silver Corp is authorized by The Association of
Professional Engineers and Geoscientists of the Province of
British Columbia to engage in
Reserved Practice under Permit to Practice number 1001470.
About Pan American
Silver
Pan American owns and operates silver and gold mines located in
Mexico, Peru, Canada,
Argentina and Bolivia. We also own the Escobal mine in
Guatemala that is currently not
operating. Pan American provides enhanced exposure to silver
through a large base of silver reserves and resources, as well as
major catalysts to grow silver production. We have a 28-year
history of operating in Latin
America, earning an industry-leading reputation for
sustainability performance, operational excellence and prudent
financial management. We are headquartered in Vancouver, B.C. and our shares trade on NASDAQ
and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com.
Cautionary Note Regarding Forward-Looking Statements and
Information
Certain of the statements and information in this news release
constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian provincial securities laws. All statements, other than
statements of historical fact, are forward-looking statements or
information. Forward-looking statements or information in this news
release relate to, among other things: the timing for, amount of,
and anticipated results of, any exploration or development programs
with respect to the Company's La Colorada Skarn project, including
the potential for further definition or expansion of the Mineral
Resource in the future; the timing of any update to the
Mineral Resource estimate and the results of any such update; and
the potential generation of minerals, if any, and the quality
thereof.
These forward-looking statements and information reflect the
Company's current views with respect to future events and are
necessarily based upon a number of assumptions that, while
considered reasonable by the Company, are inherently subject to
significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include: our
Mineral Resource estimates and the assumptions upon which they are
based; ore grades and recoveries; prices for silver, gold, and base
metals remaining as estimated; currency exchange rates remaining as
estimated; capital, decommissioning and reclamation estimates;
prices for energy inputs, labour, materials, supplies and services
(including transportation); all necessary permits, licenses and
regulatory approvals for the La
Colorada mine and related exploration projects are received
in a timely manner; our ability to secure and maintain the surface
rights necessary for our operations; and our ability to comply with
environmental, health and safety laws. The foregoing list of
assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements
and information involve known and unknown risks, uncertainties and
other factors that may cause actual results and developments to
differ materially from those expressed or implied by such
forward-looking statements or information contained in this news
release and the Company has made assumptions and estimates based on
or related to many of these factors. Such factors include, without
limitation: the duration and effects of the COVID-19 virus and any
other pandemics on our operations and workforce, and the effects on
global economies and society; fluctuations in silver and gold
prices; fluctuations in prices for energy inputs, labour,
materials, supplies and services (including transportation);
fluctuations in currency markets (such as the Canadian dollar,
Peruvian sol, Mexican peso, Argentine peso and Bolivian boliviano
versus the U.S. dollar); risks relating to inflation and the global
economic environment; operational risks and hazards inherent with
the business of mining (including environmental accidents and
hazards, industrial accidents, equipment breakdown, unusual or
unexpected geological or structural formations, cave-ins, flooding
and severe weather); risks relating to the credit worthiness or
financial condition of suppliers, refiners and other parties with
whom the Company does business; inadequate insurance, or inability
to obtain insurance, to cover these risks and hazards; employee
relations; relationships with, and claims by, local communities and
indigenous populations; our ability to obtain all necessary
permits, licenses and regulatory approvals in a timely manner;
changes in laws, regulations and government practices, including
environmental, export and import laws and regulations; changes in
national and local government, legislation, taxation, controls or
regulations and political, legal or economic developments in
Canada, the United States, Mexico, Peru,
Argentina, Bolivia, Guatemala or other countries where the Company
may carry on business, including legal restrictions relating to
mining; risks relating to expropriation; risk of liability relating
to our past sale of the Quiruvilca mine in Peru; diminishing quantities or grades of
Mineral Reserves as properties are mined; increased competition in
the mining industry for equipment and qualified personnel; and
those factors identified under the caption "Risks Related to Pan
American's Business" in the Company's most recent form 40-F and
Annual Information Form filed with the United States Securities and
Exchange Commission and Canadian provincial securities regulatory
authorities, respectively. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated, described or intended.
Investors are cautioned against undue reliance on forward-looking
statements or information. Forward-looking statements and
information are designed to help readers understand management's
current views of our near and longer term prospects and may not be
appropriate for other purposes. The Company does not intend, nor
does it assume any obligation to update or revise forward-looking
statements or information, whether as a result of new information,
changes in assumptions, future events or otherwise, except to the
extent required by applicable law.
Cautionary Note to US Investors
This news release has been prepared in accordance with the
requirements of Canadian NI 43-101 and the Canadian Institute of
Mining, Metallurgy and Petroleum Definition Standards, which differ
from the requirements of U.S. securities laws. NI 43-101 is a rule
developed by the Canadian Securities Administrators that
establishes standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral
projects.
Canadian public disclosure standards, including NI 43-101,
differ significantly from the requirements of the United States
Securities and Exchange Commission (the "SEC"), and information
concerning mineralization, deposits, Mineral Reserve and resource
information contained or referred to herein may not be comparable
to similar information disclosed by U.S. companies. In particular,
and without limiting the generality of the foregoing, this news
release uses the terms ''Measured Resources'', ''Indicated
Resources'', and ''Inferred Resources''. U.S. investors are advised
that, while such terms are recognized and required by Canadian
securities laws, the SEC does not recognize them. The requirements
of NI 43-101 for identification of ''Reserves'' are not the same as
those of the SEC, and Mineral Reserves reported by the Company in
compliance with NI 43-101 may not qualify as ''Reserves'' under SEC
standards. Under U.S. standards, mineralization may not be
classified as a ''reserve'' unless the determination has been made
that the mineralization could be economically and legally produced
or extracted at the time the reserve determination is made. U.S.
investors are cautioned not to assume that any part of a "Measured
Resource" or "Indicated Resource" will ever be converted into a
"reserve". U.S. investors should also understand that "Inferred
Resources" have a great amount of uncertainty as to their existence
and great uncertainty as to their economic and legal feasibility.
It cannot be assumed that all or any part of "Inferred Resources"
exist, are economically or legally mineable or will ever be
upgraded to a higher category. Under Canadian securities laws,
estimated "Inferred Resources" may not form the basis of
feasibility or pre-feasibility studies except in rare cases.
Disclosure of "contained ounces" in a Mineral Resource is permitted
disclosure under Canadian securities laws. However, the SEC
normally only permits issuers to report mineralization that does
not constitute "reserves" by SEC standards as in place tonnage and
grade, without reference to unit measures. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
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SOURCE Pan American Silver Corp.
