Coeur Mining solidifies Palmajero future with Paramount Gold and Silver acquisition

The US’s largest primary silver producer Coeur Mining on Wednesday announced that it had agreed to buy Paramount Gold and Silver for $146-million in scrip, giving Coeur control over Paramount’s San Miguel project that covers about 121 000 ha surrounding Coeur’s Palmarejo mine, in Chihuahua, Mexico. Paramount’s exploration work at San Miguel had defined four main precious-metal-bearing structures, of which the Don Ese deposit extends across a shared property boundary onto Coeur’s land-holdings at Palmarejo and is located about 800 m from Coeur’s Guadalupe deposit, which is currently being developed.