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Hecla Mining Company
Summary
| Project: | Greens Creek | |
|---|---|---|
| Deposit: | Greens Creek | |
| Location: | United States | |
| Commodities: | Silver-Gold-Lead-Zinc | |
| 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 Greens Creek deposit at the Greens Creek project. Updated Resources & Reserves + new drill results incl. 5.82m @ 3795g/t Ag, 4.3g/t Au from 172m. Hecla nearly replaced all silv | |
| Resources: | (Reserve, P+P): 7.594Mt @ 11.7oz/t Ag, 0.09oz/t Au, 2.9% Pb, 7.6% Zn 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 Greens Creek, 815,637 tons were milled containing 11.9 million ounces of silver and 79,150 ounces of gold, and gold and silver reserves are essentially unchanged from 2015. Reserve increased for the 9A and NWW zones where approximately 8.3 million ounces of silver and 46,500 ounces of gold were added. Measured and Indicated Resources increased over 2015 with additions in the 9A, NWW, SW, Gallagher zones, and the newly established Upper Plate resource. Inferred resources decreased by approximately 5% for silver and gold overall due to conversion to reserves and indicated resources from the NWW Zone; all other zones, except 200 South, showed increases in inferred gold and silver resources. At Greens Creek, definition drilling is refining the resources of the 9A, Southwest Bench, East Ore and NWW zones for expected conversion to reserves. Exploration drilling has concentrated on the Gallagher Zone and the Mine Syncline, a new exploration target area where the mine contact has been identified, at the north and southcentral parts of the mine. During the fourth quarter three drills were operating underground. Drilling of the southern extension of the NWW Zone continues to define mineralization along the lower fold, spanning from the fold nose and along the upper limb. Mineralization is represented by multiple distinct bands of massive ores and mineralized argillites in proximity to the mine contact and has similar geometry and dimensions to the current resource model. | |
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