At the Petorca mine, an underground gold-silver producer near Santiago, the company added 76,000 gold-equivalent ounces to resources. The discovery of additional mineralization is expected to extend the life of the mine to 2002. In 1999, Petorca produced 64,000 oz. silver and 29,400 oz. gold.
Exploration at the Fachinal mine, in the southern part of the country, added 116,000 gold-equivalent ounces to resources. The mine, which supports both underground and open-pit operations, produced 1.1 million oz. silver and 25,500 oz. gold last year.
Meanwhile, the company intends to spend US$2.7 million to advance its Furioso project to production by year-end. It hosts 42,000 tons grading 0.8 gold-equivalent ounces per ton.
In Bolivia, the company continues to test bulk samples taken from the San Bartolome silver deposit. The company drilled and collected samples from the site in late 1999, soon after buying it from Asarco. An independent audit, conducted before Coeur began its work, concluded that several gravel-like deposits host 34.4 million tons grading 3.1 oz. silver.
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