Reserves Estimate Increased For South Dakota Gold Mine
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Chicago-based Coeur Mining Inc. says a closer look at historical data of the Wharf mine combined with new collection methods put the estimates of gold reserves nearly 40 percent higher than believed.
The Black Hills Pioneer reports ( ) that could extend the mine’s life by three years.
The mine is located in the historic Black Hills mining district of Lead. Coeur Mining in February bought the mine from Canada-based Goldcorp Inc. for $105 million.
The mine has been in production for more than 30 years, producing more than 2 million ounces of gold. Reserves had been estimated at 560,000 ounces, but they now are estimated at 781,000 ounces.
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Information from: Black Hills Pioneer,
