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Hecla Mining Company
Summary
| Project: | Fire Creek | |
|---|---|---|
| Deposit: | Fire Creek | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 9/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Active Mining & Production | |
| Report details: | 14-9-2018: Hecla Mining Company announces a Supporting Acquisition report for its Fire Creek deposit at the Fire Creek project. Summary of property in support of acquisition, updated ore reserve estimate. Hecla Mining Company (Hecla or the Company) announ | |
| Resources: | (Reserve, P+P): 319Kt @ 0.708oz/t Au, 0.69oz/t Ag at project | |
| CP/QP: | [Resources]: Mark Odell (Practical Mining LLC) | |
| ABSTRACT: | Hecla Mining Company (Hecla or the Company) announced the acquisition of Klondex Mines Ltd. (Klondex) on March 19, 2018. The transaction will consist of US$462 million in a mixture of cash and stock for which Hecla will acquire the Fire Creek, Midas, and Hollister Mines, the Midas Mill and all of Klondex’s land holdings. Klondex’s Canadian assets are to be spun out to its existing shareholders as Havilah Mining Corporation. Practical Mining LLC was engaged by Hecla Mining Company (Hecla or the Company), to prepare an updated Technical Report (TR) in accordance with National Instrument 43-101 (NI 43-101) of the Canadian Securities Administrators. Practical Mining’s evaluation of the Fire Creek Project (Fire Creek or the Project), located in Lander County, Nevada, is presented herein. This TR, dated the 14th day of September 2018, with an effective date of March 31, 2018, provides the initial Mineral Resource and Mineral Reserve estimates for the Project under Hecla’s direction. The Project is located primarily in Lander County, Nevada with a small portion of the Project in Eureka County, Nevada, approximately 63 miles west of Elko, Nevada. The Project comprises private fee lands (both leased and owned) and unpatented lode mining claims. The land position includes approximately 18,400 acres of unpatented federal lode mining claims, 3,208 acres of private fee land and 429 acres of mineral leases. Overall, the Fire Creek land package is approximately 22,000 acres. | |
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