en.Wedoany.com Reported - U.S. mining company Coeur Mining has announced a $158 million exploration budget for its fiscal year 2026, double the amount of the previous year, aimed at accelerating resource growth, extending mine life, and strengthening its gold and silver operations at Palmarejo in Chihuahua and Las Chispas in Sonora, Mexico. Over the past five years, the company has invested approximately $340 million in exploration. The 2026 strategy will achieve a total drilling length exceeding 200,000 meters across the two mining sites.

The Palmarejo operating unit has been allocated $27 million, with plans to drill 83 kilometers. Focus is concentrated on the eastern mining area, which was strengthened after acquiring mineral rights from Fresnillo in 2024 and absorbs 70% of the mine's budget. The San Miguel and La Unión deposits already account for over 20% of the complex's mineral reserves. Drilling data shows that hole SMDH-138 at San Miguel returned 6.9 g/t gold and 1,250 g/t silver over 11.5 meters, while hole LUDH-111 at La Unión returned 6.3 g/t gold and 19 g/t silver over 14.5 meters. Along the main Corredor Hidalgo trend, mineralization length has increased by 200 meters this year, with hole HGDH-229 intercepting 2.2 meters at 29.5 g/t gold and 954 g/t silver. Meanwhile, backfill work at the Independencia Sur area has identified three veins extending up to 950 meters, with potential as a near-term reserve conversion source outside the boundary of the Franco-Nevada stream agreement.

The Las Chispas complex has a budget of $24 million, with plans to drill 119 kilometers, prioritizing expansion of recent discoveries. The Gap Zone has become a structural growth axis, connecting the Babicanora and Las Chispas blocks. Drilling results show that the La Promesa vein, discovered in 2025, had hole AUGEXP-26-005 intercepting 0.3 meters at 68.4 g/t gold and 9,199 g/t silver (including a 0.1-meter interval at 156.0 g/t gold and 20,990 g/t silver). Eight interconnected veins have been confirmed in the Augusta structure, with a total extension of 4.2 kilometers. Hole LCHII-25-020 in the North Las Chispas area recorded high-grade data of 38.4 g/t gold and 7,982 g/t silver. Exploration Executive Vice President Aoife McGrath stated that this capital allocation aims to maximize investment returns and ensure the long-term operation of Mexican assets.