TSX : USA $5.09 + 0.02 NYSE American : USAS $3.98 -0.32 SILVER $US 17.13oz -0.12

Operations

Reserves and Resources

Mineral Reserve and Mineral Resource Estimates

Reserves and Resources – June 30 2017 - Download PDF

Quality Assurance And Quality Control – QA/QC - Download PDF

Americas Silver's reserves and resources have been calculated as at June 30, 2017 in accordance with definitions adopted by the Canadian Institute of Mining, Metallurgy and Petroleum and incorporated into National Instrument 43-101.

For further detail regarding the extent to which estimates of Mineral Resources and Reserves may be materially affected by external factors, including metallurgical, environmental, permitting, title and other risks and relevant issues, please refer to the Company's Annual Information Form.

Proven and Probable Mineral Reserves

June 30, 2017

 GradeContained Metal
Tonnes
000s
Silver
g/t
Copper
%
Lead
%
Zinc
%
Silver
koz
Copper
Mlbs
Lead
Mlbs
Zinc
Mlbs
Cosalá         
  Nuestra Señora         
     Proven34790.200.801.43870.20.61.1
     Probable228960.270.901.747081.34.58.8
  Nuestra Señora P&P263940.260.891.707941.55.19.9
  San Rafael Mine         
     Proven1,585110--1.834.155,623--63.9145.0
     Probable2,15693--1.594.056,476--75.7192.6
  San Rafael Mine P&P3,741101--1.694.0912,100--139.6337.6
Total Cosalá P&P4,0041000.021.643.9412,8941.5144.8347.5
Galena         
  Silver-Copper         
     Proven1625060.44----2,6351.6----
     Probable2375840.42----4,4532.2----
  Silver-Copper P&P3995520.43----7,0883.8----
  Silver-Lead         
     Proven443268--8.35--3,817--81.5--
     Probable512273--8.48--4,491--95.6--
  Silver-Lead P&P954271--8.42--8,308--177.1--
Total Galena P&P1,3543540.135.93--15,3963.8177.1--
Total P&P5,3581640.042.732.9428,2905.2321.9347.5

Measured and Indicated Mineral Resources (Exclusive of Mineral Reserves)

June 30, 2017

 GradeContained Metal
Tonnes
000s
Silver
g/t
Copper
%
Lead
%
Zinc
%
Silver
koz
Copper
Mlbs
Lead
Mlbs
Zinc
Mlbs
Cosalá         
  Nuestra Señora         
     Measured257850.160.841.767000.94.810.0
     Indicated1,779890.200.811.745,0697.731.968.1
  Nuestra Señora M&I2,036880.190.821.745,7698.636.778.0
  San Rafael Mine         
     Measured1,233110--0.952.154,345--25.758.3
     Indicated1,64188--0.932.084,628--33.575.3
  San Rafael Mine M&I2,87497--0.932.118,973--59.2133.6
  Zone 120         
     Measured         
     Indicated2,0901870.48----12,56922.3----
  Zone 120 M&I2,0901870.48----12,56922.3----
  El Cajón         
     Measured         
     Indicated1,0031770.55----5,71912.2----
  El Cajón M&I1,0031770.55----5,71912.2----
Total Cosalá M&I8,0031280.240.541.2033,03043.195.9211.6
Galena         
  Silver-Copper         
     Measured2205830.70----4,1173.4----
     Indicated5026260.61----10,1156.7----
  Silver-Copper M&I7226130.63----14,23110.1----
  Silver-Lead         
     Measured437282--9.18--3,962--88.3--
     Indicated750276--9.01--6,661--149.0--
  Silver-Lead M&I1,187278--9.07--10,623--237.3--
Total Galena M&I1,9094050.245.64 24,85410.1237.3 
Total M&I9,9121820.241.520.9757,88453.1333.2211.6

Inferred Mineral Resources

June 30, 2017

 GradeContained Metal
Tonnes
000s
Silver
g/t
Copper
%
Lead
%
Zinc
%
Silver
koz
Copper
Mlbs
Lead
Mlbs
Zinc
Mlbs
Cosalá         
     Nuestra Señora2,0091010.260.831.906,53911.337.084.3
     San Rafael Mine461166--2.200.392,455--22.44.0
     Zone 1201,3792160.59----9,59017.9----
     El Cajón2781030.18----9231.1----
Total Cosalá Inferred4,1271470.330.650.9719,50730.359.488.3
Galena         
     Silver-Copper3166710.74----6,8155.1----
     Silver-Lead1,351240--9.24--10,409--275.3--
Total Galena Inferred1,6673210.147.490.0017,2245.1275.30.0
Total Inferred5,7941970.282.620.6936,73135.4334.788.3

Notes for Mineral Reserve and Mineral Resource Estimates:

CIM Definition Standards were followed for Mineral Reserve and Mineral Resource Estimates.

Mineral Reserves are estimated at a NSR cut-off value of US$40/tonne at Nuestra Señora, US$54/tonne at San Rafael and US$190/tonne at Galena. The NSR cut-off is calculated using recent operating results for recoveries, off-site concentrate costs, and on-site operating costs.

Mineral Resources are estimated at a NSR cut-off value of US$34/tonne at San Rafael, US$40/tonne at Zone 120, US$30/tonne at El Cajón and US$190/tonne at Galena. Mineral Resources at Nuestra Señora are estimated at a 90g/tonne silver equivalent cut-off grade. NSR and silver equivalent cut-offs were calculated using recent or expected operating results for recoveries, off-site concentrate costs, and on-site operating costs.

Mineral Reserves are estimated using metal prices of US$16.00/oz Ag, $2.50/lb Cu, $0.90/lb Pb and $0.90/lb Zn.

Mineral Resources are estimated using metal prices of US$18.00/oz Ag, $3.00/lb Cu, $1.05/lb Pb and $1.05/lb Zn.

Mineral Resources are exclusive of Mineral Reserves and as such the Mineral Resources do not have demonstrated economic viability.

A minimum mining width of 4.5 feet was used for estimating Galena Reserves, with a minimum additional dilution of 0.5 feet from both the hangingwall and footwall. A mining recovery of 95% was used to reflect the selective nature of the mining methods used at the operation.

A mining recovery of 90% was used for estimating Mineral Reserves at Nuestra Señora and San Rafael to reflect the mining methods used at the operations.
Numbers may not add or multiply accurately due to rounding.

The Mineral Resource estimate for the Cosalá Operations is based on block models prepared by independent mineral resource consultants. The Nuestra Señora Mineral Reserve and Resource estimate was prepared by Company personnel under the supervision of James Stonehouse, Vice President of Exploration, a Qualified Person for the purpose of NI 43-101. The San Rafael, Zone 120 and El Cajón Mineral Resource estimates were prepared by Paul Tietz, C.P.G. who is an independent consultants and Qualified Persons for the purpose of NI 43-101. The San Rafael Mineral Reserve estimate was prepared by company personnel under the supervision of Shawn Wilson, Vice President of Technical Services, a Qualified Person for the purpose of NI 43-101.

The Mineral Resource estimate for the Galena Complex was prepared using a combination of block modelling and the accumulation method. The Mineral Resource estimate was prepared by Company personnel under the supervision of Aaron Gross, C.P.G., a Qualified Person for the purpose of NI 43-101. The Mineral Reserve estimate was prepared by Company personnel under the supervision of Shawn Wilson, Vice President of Technical Services, a Qualified Person for the purpose of NI 43-101.

Subscribe to our Email List