Pan American Silver (NASDAQ: PAAS; TSX: PAAS) (âPan Americanâ, or the âCompanyâ) today reported on its mineral reserves and resources as at December 31, 2016. Pan American’s mineral reserves are estimated to contain approximately 286 million ounces of silver and 2.0 million ounces of gold compared with 280 million ounces of silver and 2.1 million ounces of gold at December 31, 2015.
As quoted in the press release:
âIn 2016 we added 38.1 million ounces of new silver mineral reserves, more than replacing the 32.4 million ounces depleted through mining,â said Christopher Emerson, Pan American’s Vice President Business Development and Geology. âWe increased our exploration budget mid-year, investing a total of $14 million during 2016, and completed 136,000 metres of drilling on mine and near-site exploration, as well as 7,000 metres on regional projects.â
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