Friday, February 12, 2010

Pan American Silver (NASDAQ:PAAS) Silver Reserves

Pan American Silver Corp. Silver Reserves

Pan American Silver Corp. (NASDAQ:PAAS) (TSX:PAA) announced in a press release that they increased their silver reserves by 36.8 million contained ounces, which the company said was more than sufficient to replace the 26.6 million contained ounces mined last year.

As of the quarter ending December 31, 2009, probable silver reserves increased by about 5 percent to 234 million ounces. These are reserves measured at their operating mines.

The best producing mine for 2009 for increasing the reserves was the La Colorada mine, with over 16 million ounces found when they extended the NC2 Vein.

Pan American Silver added they will continue to focus drilling on that vein throughout 2010.

Pan American Silver Corp. Silver Reserves

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