Coeur Mining reported an exploration update for its New Afton and Rainy River operations in Canada. The company found expanded mineralization that could extend the mines' life. Coeur Mining will invest a record $158 million in exploration in 2026. This investment more than doubles the previous year's levels.
At the New Afton mine in British Columbia, drilling at the K-Zone deposit extended mineralization. This extension measures over 300 meters beyond its original footprint. At the Rainy River mine in Ontario, drilling also expanded known mineral zones. The ODM Main Zone extended by more than 150 meters. Zone 17 extended by over 200 meters down-plunge.
This exploration program allocates approximately $24 million to New Afton for 2026. Rainy River receives $18 million for 2026. The company believes these findings reinforce the potential to grow mineral resources. They also support future production flexibility at the recently acquired assets.