By Adriano Marchese
Shares of Pan American Silver traded higher after recent exploration programs have discovered new deposits across its mining operations from Canada to Peru.
Shares traded 6.7% higher at 33.49 Canadian dollars ($23.65).
The Vancouver, British Columbia-based miner said that new exploration drill results for its Jacobina, El Peñon, La Colorada, Huaron, Minera Florida and Timmins mines, as well as its La Colorada Skarn project have been positive and expand the company's deposits that it can tap into.
Vice President of Exploration and Geology Christopher Emerson said the success of Pan American's exploration program highlights the potential for long-term organic growth at many of its assets in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina.
"Based on the results we were achieving in exploration this year, we increased our drill budget to over 450,000 meters for 2024," Emerson said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 09, 2024 11:39 ET (16:39 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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