ARGENTINA – COEUR DALENE MINES will build a flotation mill at its Martha gold mine in the province of Santa Cruz by the end of this year. An investment of US$13.9 million is expected to boost silver recovery by 3.0 million oz/year. The new mill will reduce the companys cash operating costs per ounce. In 2006 the Martha mine produced 2.7 million oz of silver and more than 3,400 oz of gold.
The Martha property reported a 50% increase in proven and probable silver reserves in 2006, compared with 2005. In 2006, the average grade also increased to more than 2,090 g/t Ag (61 oz/ton), which ranks among the world’s highest silver grades.
Additionally, in 2006, Coeur acquired interests in four highly prospective silver-gold exploration properties in Santa Cruz and has budgeted more than $4.6 million for exploration in Santa Cruz in 2007.
Further information is available at www.Coeur.com.