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Hecla Mining Company
Summary
| Project: | Casa Berardi | |
|---|---|---|
| Deposit: | Casa Berardi | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/22/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-2-2017: Hecla Mining Company announces a Resource Estimation report for its Casa Berardi deposit at the Casa Berardi project. Updated Resources & Reserves + new drill results incl. 18.6m @ 15.5g/t Au from 40.8m. Hecla nearly replaced all silver mine pr | |
| Resources: | (Reserve, P+P): 10.327Mt @ 0.13oz/t Au for 1.309Moz Au contained at project | |
| CP/QP: | [Resources]: Dean McDonald (Internal) | |
| ABSTRACT: | Hecla nearly replaced all silver mine production in 2016 (combined 20.2 million silver oz contained) as silver reserves decreased by only 2%, despite using silver reserve prices at $14.50/oz. Gold production was also nearly replaced (282,000 contained gold oz) as reserves decreased by only 3% over 2015, and gold reserve prices were calculated at $1,200/oz. At Casa Berardi, almost a million tons were milled containing approximately 166,733 ounces of gold, with approximately 15% of the milled tonnage coming from the East Mine Crown Pillar open pit that began operating during the year. Reserve tonnage at Casa Berardi increased 1% over 2015, while contained gold decreased approximately 2% to 1.3 million ounces. Two new resource zones were added during 2016: underground resources were added at the 108 Zone (Inter) and near-surface resources were added at the 134 Zone, just east of the Principal Pit area. Significant inferred resources were also added at Casa Berardi during the year with a 23% increase in contained gold ounces. During the fourth quarter at Casa Berardi, up to six drills were operating underground and two on surface in an effort to refine current stope designs and expand reserves and resources in the 118, 121, 123, 124 and Lower Inter zones and near-surface targets at the 124 and 134 zones. The recent success in both surface and underground drilling led to near replacement of 2015 gold production with a slight decrease in overall grade. Due to the identification of new resource trends near surface and underground throughout the West Mine, there was a significant increase in inferred ounces. Infill drilling in 2017 may convert a large portion of those to indicated category and the eventual incorporation into the life of mine plan. | |
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