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Hecla Mining Company
Summary
| Project: | Lucky Friday | |
|---|---|---|
| Deposit: | Lucky Friday | |
| Location: | United States | |
| Commodities: | Silver-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 Lucky Friday deposit at the Lucky Friday project. Updated Resources & Reserves + new drill results incl. 2.1m @ 301g/t Ag, 1.9% Zn, 7.9% Pb from 144m. Hecla nearly replaced all | |
| Resources: | (Reserve, P+P): 4.850Mt @ 16.1oz/t Ag, 9.6% Pb, 3.2% 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 Lucky Friday, 293,870 tons were milled containing approximately 3.7 million ounces of silver during 2016. Current reserve tons are 4% lower than last year and the contained silver ounces decreased by 1% to 77.8 million ounces. The 2016 reductions to reserve tonnages at Lucky Friday are due to mining depletion and increased production costs. Measured and indicated silver resources at Lucky Friday increased 4% from 2015 to a total of 133 million ounces. During the fourth quarter one drill was operating underground. Exploration drilling from the 635-52 Ramp Station West was designed to evaluate 30 Vein mineralization west of the second block of the Silver Fault which is the current western boundary of the resource. This drilling was progressively steeper and reached the 6500 sublevel elevation. The shallower holes intersected three distinct veins with the deeper two holes only indicating a singular vein of significance. Vein interpretations have not been completed. | |
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