U.S. Silver Corp. Forecasts 2.4 Million Ounces of Silver Production in 2012

U.S. Silver Corp. (TSE:USA) forecast around 2.4 million ounces of silver production in 2012, the company said Tuesday.

The Idaho-based firm also expects a byproduct of 6.5 million pounds of lead and copper production of around 1.2 million pounds.

In addition, U.S. Silver Corp. plans to spend around $5 million to reopen its Coeur Mine, adjacent to its Galena mine. Production from the Coeur Mine is expected to begin at the end of the year, with 500,000 ounces of annual production. A total of 6 million ounces of silver identified at the site.

The company also plans for 100,000 feet of exploration in 2012, up from 77,000 feet in 2011 and 47,000 feet in 2010. The exploration will include underground drilling and a surface program, begun last year.