USA - Coeur Decision -3 Million OZThe Company continues to plan for the re-development of the Coeur mine and has prepared initial development, mining and exploration plans. Additional exploration drilling to better define the resource and optimize the development program has commenced.
U.S. Silver has completed 4,022 feet of diamond drilling at the Coeur Mine in May, June and July of 2011. Drilling has been focused upon validating resource blocks local to the 3400 level, 425 Vein as applicable to prefeasibility. All drill hole penetrations within the outlined resource blocks proved positive. Additional, sub-track resources have been defined with subsequent adjacent exploration drilling.
Re-evaluation of the resource blocks with the updated drilling results is currently being conducted. Expected costs of re-development are $7million, and expected annual production once the mine is fully operational is expected to be 500,000 ounces of silver. The volumes can be easily accommodated within existing milling capacity.
When are we expecting a decision on the Coeur Mine?
Resources are there, mill capacity available and the price of silver north of $34 per oz...This will increase our production profile to about 3 million oz and help lower our production costs...sending the share price up, up way up!