The Lincoln Hill project is an extension of the Rochester mine, which is an open pit heap leach silver and gold operation located in Nevada, USA, hosted in the Triassic Rochester Formation. The project is wholly owned and operated by Coeur Mining Inc. (“Coeur”) since its acquisition in November 2018 from Alio Gold Inc.
Lincoln Hill represents potential high-grade feed to the overall Rochester Complex as the project boasts a significantly higher grade resource relative to the Rochester mine.
After a shift in focus in their 2021 exploration program, Coeur transitioned to West Rochester, specifically the Gold Ridge zone and lower Lincoln Hill. Coeur put in place a core drill rig in the Lincoln Hill area, while having drill pads on the upper portion of Lincoln Hill.
Currently Coeur has received approval for a 250-acre drilling plan of operations in the West Rochester target area, which would open new drilling areas for Lincoln Hill zone and allow the company to accelerate the current exploration program at Lincoln Hill.
In November 2022, Coeur closed the sale of its Crown and Sterling Holdings to AngloGold Ashanti Limited for cash consideration of $150 million. The sale of Crown Sterling is consistent with Coeur’s strategy of monetizing non-core assets and prioritizing high-return growth from its North American asset portfolio. This enables Coeur to continue focusing on the expansion project at the Rochester mine (Lincoln Hill), which is expected to be completed mid-2023.