Coeur Mining Hits High-Grade Silver, Gold at Las Chispas

US-based Coeur Mining announced positive exploration results from its Las Chispas silver and gold mine in Sonora and its Kensington gold mine in Alaska. The company reported that recent drilling at Las Chispas has returned some of the highest-grade intercepts to date at the operation.

At the Las Chispas mine, which Coeur Mining acquired in February 2025, an upscaled drill program has focused on near-mine expansion and infill drilling. A highlight from the program was an intercept in the North Las Chispas vein, discovered in September 2024, which returned 1ft grading 4.61oz/t gold and 392oz/t silver. The company also reported continued expansion of the Augusta vein, a recent discovery, with intercepts that include 1.2ft grading 0.81oz/t gold and 113.8oz/t silver. "Since acquiring Las Chispas in February 2025, an upscaled scout and expansion drill program has delivered early success by expanding resources in several key veins. Particularly encouraging are the extremely high-grade intercepts returned in the Las Chispas Block,” said Mitchell J. Krebs, Chairman, President and CEO, Coeur Mining. 

The company says that based on the year-to-date success, it has ramped up its near-mine expansion and infill programs at Las Chispas to nine drill rigs to target additional resource growth.

Las Chispas Acquisition 

On Feb. 14, 2025, Coeur Mining completed the Las Chispas acquisition from SilverCrest Metals. According to the transaction terms, which was valued at over US$1.58 billion, Coeur Mining acquired all of SilverCrest’s shares, with SilverCrest shareholders receiving 1.6 Coeur Mining common shares for each SilverCrest common share, with the latter issuing 239.3 million shares for the transaction.

At Coeur Mining’s 4Q24 results report, the company said it expected prorated production reflecting 10.5 months of the year for Las Chispas to be 42,500oz-52,500oz of gold and 4.25Moz-5.25Moz of silver for 2025. During 1Q25, the Las Chispas mine produced 714,239oz of silver and 7,175oz of gold at adjusted cost of sales of US$8.38/oz and US$744/oz for silver and gold, respectively.