TORONTO, ON–(Marketwired – February 22, 2017) – Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) (NYSE: PPP) today announced its updated year-end 2016 Mineral Reserves and Mineral Resources.
Total Mineral Reserves and Mineral Resources
Total Primero Proven and Probable Mineral Reserves at December 31, 2016 were 1.3 million ounces of contained gold and 56.6 million ounces of contained silver. This represents a decrease of 24% for gold and 20% for silver from year-end 2015, primarily attributable to mining depletion (155,000 gold ounces and 5.3 million silver ounces) and modified modeling parameters. In its modeling approach, the Company has applied a two-pass cut-off grade methodology and increased geological constraints which will improve mine planning and future reserve reconciliations.