Hecla Reports Record Silver Reserves & Resources and Advancement on Pre-Development Projects
Hecla Mining Company ('Hecla?)(NYSE:HL)
today reported the largest silver reserves and resources in the
company′s history with 148 million ounces and 281 million ounces,
respectively, as of December 31, 2011. Hecla reported exploration
results from its four district-sized land packages in the U.S. and
Mexico, as well as an update on its three pre-development projects.
HIGHLIGHTS
Silver reserves and resources increased by 4% and 13% to 148 million
ounces and 281 ?million ounces, respectively; gold resources increased
by 33% to 597,600 ounces; and lead and zinc resources increased 21%
and 26%, respectively.
More than a 16% increase in the contained metal (silver, lead, zinc)
in Lucky Friday′s proven and probable reserve with the addition of
high-grade tons.
Drilling at the Greens Creek mine has defined two high-grade areas
within the Gallagher zone with good exploration potential for
extensions to the south.
Resources at the Star in the Silver Valley significantly increased and
underground rehabilitation was completed to provide new exploration
platforms for drilling and evaluation of multiple mineralized veins.
A new gold-silver resource has been outlined in the Andrea Vein at the
San Sebastian property in Mexico.
Underground drilling in the Equity Vein system at the San Juan Silver
property in Colorado has outlined multiple zones of high-grade,
gold/silver-bearing veins. Construction of the portal to access the
Bulldog resource is being initiated.
'For the sixth consecutive year, Hecla has increased its reserves and
resources, setting a new record for both categories in 2011,? said
Phillips S. Baker, Jr., Hecla′s President and Chief Executive Officer.
'A number of milestones were achieved with our three pre-development
initiatives in the Silver Valley and Colorado during 2011, with the Star
scoping study on the Upper Country nearing completion, progress at the
San Juan Silver property with infrastructure development at the Bulldog
well under way, and commencement of underground drilling at the Equity.
Exploration activities in 2011 have yielded strong results with a
further extension of mine life at the Lucky Friday mine, discovery of
higher-grade mineralization at Greens Creek, expansion of the resource
at the Star, and the definition of a new resource at San Sebastian. As a
result of these successes, we are planning a significant investment in
exploration in 2012.?
RESERVES & RESOURCES
Hecla replaced mined silver production from 2011 and added new reserves
and resources with its work. Total silver reserve and resource ounces
for Hecla increased to 148 ?million ounces and 281 million ounces,
respectively, from 142 million ounces and 248 ?million ounces,
respectively, in 2010. Both are the largest in Hecla′s history. The 2011
silver reserves and resources are provided at the end of the release in Table
A.
Reserves at the Lucky Friday mine are the highest in its 70-year
history, replacing 2011 production while adding 503,700 tons containing
7 million ounces of silver. This is primarily the result of drilling on
the 30 Vein from the 6200 to 6900 levels providing an increase in tons
and silver-zinc grades. Reserves at the Greens Creek mine decreased
slightly from 2010 mainly due to depletions from mining activities. New
reserves were added to the NWW and 200 South zones reflecting extension
of these zones. In 2011, Greens Creek mined 772,100 tons of ore
containing 8.9 million ounces of silver, and added 519,900 tons to
reserves containing 7.5 ?million ounces of silver. Greens Creek has
historically replaced reserves and resources over an extended period.
Approximately 32 million ounces of silver were added to resources from
programs in 2011. At the Lucky Friday mine, additional tons and grade
contributed to the increase in resources while higher grades in the
Gallagher zone at Greens Creek drove resource additions. The resource in
the Star was augmented with new tonnage. In Mexico, a new gold-silver
resource was outlined. The acquisition of the 30% working interest in
the San Juan Silver property by Hecla in late 2011 also added
approximately 11 million ounces of silver to resources. Total resources
at December 31, 2011, were 281 million ounces of silver, 597,600 ?ounces
of gold, 1.47 million tons of lead, and 1.05 million tons of zinc.
The ore reserves and resources provided in Table A are based on
$20.00 per ounce of silver, $1,100.00 per ounce of gold, and $0.85 per
pound of lead and zinc.
2011 EXPLORATION AND PRE-DEVELOPMENT UPDATE
Exploration expenditures were $27.0 million in 2011 with $7.4 million
for Greens Creek, $6.2 million for San Sebastian, $5.5 million for Lucky
Friday/Silver Valley, $5.5 million for San Juan Silver, and the
remaining balance for generative activities.
Pre-development expenditures were $4.4 million in 2011 with $1.6 million
at the Star, and $2.8 million at the San Juan Silver property.
GREENS CREEK, ALASKA
Underground drilling in the Gallagher zone has delineated several
higher-grade zones within a thicker mineralized body. Grades of 0.20
ounces per ton gold, 12-15 ounces per ton silver and 10% combined
lead-zinc over approximate widths of 5 feet are typical of drilling in
this new zone and additional work is planned. Drilling in the 200 South
zone continues to outline a precious metal enriched body. In-fill
drilling along sections of this body added 35,000 tons to reserves at a
grade of 0.55 ounces per ton gold, 59.5 ounces per ton silver, 12.4%
lead, and 26.7% zinc. In the NWW zone, in-fill drilling converted
100,000 tons of resources to reserves at a grade of 0.16 ounces per ton
gold, 7.78 ounces per ton silver, 2.9% lead, and 7.9% zinc. Significant
assay results from recent drill holes in the Gallagher and 200 South
zones are shown in Table B at the end of the release.
Encouraging drill results were returned from surface holes at the West
Bruin, Cub #4 and Cub #5 targets located north of the mine. Drill
testing of the East Ore trend encountered some mineralization over a
strike length of 300 feet. Mineralized intervals of the mine contact
from each of these areas confirm that follow-up drilling is warranted in
2012.
In 2012, exploration expenditures at Greens Creek are expected to be
approximately $7.0 ?million. The underground exploration will continue to
explore extensions of the 200 South, 5250, West Wall, and Gallagher
zones, and along the NE Contact. The surface exploration program is
expected to have three drills testing the targets mentioned above.
LUCKY FRIDAY, SILVER VALLEY, IDAHO
Exploration - Lucky Friday
Definition drilling added approximately 7 million ounces of silver to
reserves in 2011. The drilling focused on two resource areas, one to the
west near the Silver Fault to the 6600 level in the mine, and the second
was in a central portion of the deposit between the 6400 and 6900 levels
of the mine. Drilling identified, refined, and upgraded the resource in
the 30 Vein and a number of intermediate veins. The 30 Vein, which has
demonstrated to contain higher silver grades, represents approximately
73% of current proven and probable ore reserve tonnages, while the
remaining 27% of reserves are contained in various intermediate veins
which have lower silver grades than the 30 Vein.
Underground exploration drilling targeted the ground in proximity to the
Silver Fault where higher-grade vein intercepts appear to correlate with
the 30 Vein as well as intermediate veins. Recently intersected veins in
the Silver Fault blocks from the 7600 to 7800 levels highlighted a 10.3
foot thickness which graded 18.4 ounces per ton silver, 15.3% lead, and
4.5% zinc. Selected drill intersections from the fourth quarter are
shown in Table C at the end of the release.
Star Mine Complex - Pre-development
Located two miles northwest of the Lucky Friday mine, the Star 2000
Drift has been rehabilitated and excavation of the first three drill
stations has been completed. Installations of surface power
infrastructure and power cable in the drift are complete and drilling
has begun. The underground drill program is designed to follow-up
results from the 2011 surface drill program and evaluate extensions of
past-producing vein systems (Star, Noonday, Noonday Split, Moffitt,
Crandall and North) in proximity to historic mine infrastructure.
A mineability study of the Star mine complex is expected to be complete
in the first quarter of 2012. The study will evaluate the mineability of
the Noonday resource and other Upper Country veins. In addition, a study
and work plan to dewater the mine (below the 2500 level) is expected to
be complete by the end of the third quarter of 2012. As part of this
study, an assessment will be made for rehabilitation of the main Star
hoist and shaft.
While the Star 2000 provides access for exploration and potential
production above the water table or Upper Country, further dewatering
and refurbishment of the historical Star production shaft could allow
access to deeper resources that were formerly classified as reserves
when the mine closed in 1982. The deeper resources represent about half
of the Star′s total tonnage. Longer-term, additional development could
create a common connection to the existing underground development at
the Lucky Friday mine for ventilation and provide new platforms for
exploration.
In 2012, the pre-development budget is expected to be approximately $3.0
million and will encompass underground rehabilitation, scoping work on
the Noonday, and the dewatering study.
Exploration - Star and Silver Valley
In 2011, Hecla′s drilling of the Noonday veins, located two miles
northwest of the Lucky Friday mine and near the past-producing Star mine
complex, has expanded the resource initially outlined in 2010. The
resource has been extended 500 feet to the east and approximately 1,500
feet down dip. Silver and lead grades are locally very high, especially
towards the east. The Noonday veins now have a resource of 3.8 million
silver ounces, 43.3 thousand tons of lead, and 66.6 thousand tons of
zinc, a 257% increase in silver ounces over 2010. Good preliminary drill
results were also reported from the Morning and North Veins in this same
area. Selected intersections along this trend are shown in Table D
at the end of the release.
In 2012, the exploration budget for the Silver Valley area is expected
to be approximately $6.0 million. Underground drilling will work towards
further upgrading and expanding the Noonday resource along strike and
evaluate a number of other vein structures near the past-producing Star
mine complex. Surface drilling will test targets at Burke/Tamarack, East
Noonday, North Star, and Moffitt, which are all located northwest of the
Star mine complex.
SAN JUAN SILVER, CREEDE, COLORADO
The acquisition of the remaining 30% interest in the San Juan Silver
property was completed in December 2011. Hecla′s wholly owned
subsidiary, Rio Grande Silver, Inc. (RGS), now controls the majority of
the district including the Bulldog, Amethyst, and Equity Vein systems.
The adjacent exploration lands are held in a joint venture in which RGS
has a 70% interest.
Bulldog Mine & Equity Ramp - Pre-development
At the Bulldog mine, construction crews completed the excavation of the
access road to the 9400 portal pad, as well as most surface facilities
to support the planned development program. Personnel and contractors
are in place to begin development of a new portal access. A preliminary
study on the re-opening of the Bulldog mine is expected in the fourth
quarter of 2012. The study will evaluate mining methods, capital and
operating costs, processing methods, and permitting requirements.
The Equity (North Amethyst) portal was re-opened in the third quarter of
2011. Located in the northern portion of the mineral district and north
of the Bulldog mine, exploration activities by a previous owner outlined
promising gold-silver mineralization in the 1980s. The underground
rehabilitation work completed in the second half of 2011 enables Hecla
to drill and evaluate the Equity and West Amethyst Veins along strike
and at depth on a year-round basis. Underground drilling at the Equity
began in mid-December.
The pre-development budget for San Juan Silver for the first half of
2012 is expected to be approximately $6.0 million and will encompass
additional underground rehabilitation and drill support at the Equity
site and initial development of the portal and decline at the Bulldog
mine. Further expenditures are expected to be budgeted following
progress on studies.
Equity Ramp - Exploration
Drilling on the Equity structure has intersected multiple high-grade
veins that vary from 3 ?to 12 feet wide. The assay values from the first
holes (EQU 1146) include 0.17 ounces per ton gold and 17.7 ounces per
ton silver over 7 feet. Highlights of drill results from this recent
work are shown in Table E at the end of the release. These
higher-grade intersections are on trend of a significant intersection
from recent surface drilling (0.2 ounces per ton gold and 13 ounces per
ton silver over 7.9 feet; 0.3 ounces per ton gold and 31 ounces per ton
silver over 2.5 feet).
In 2012, the San Juan Silver exploration budget is expected to be
approximately $8.5 ?million. The underground drilling will focus on the
Equity and North Amethyst/Midwest structures to test the vertical
continuity to the intercepts more than 1,000 feet deeper. Surface
activities include drilling the North Amethyst and Equity Veins.
SAN SEBASTIAN, MEXICO
Hugh Zone and Andrea Vein - Pre-development
The Hugh Zone is the extension at depth of the past-producing Francine
Vein. The Hugh zone is a higher-grade resource that contains 9.2 million
ounces of silver; 14,300 ounces of gold; 23,540 tons of copper; 33,020
tons of lead; and 49,930 tons of zinc. A scoping study is under way to
update a previous prefeasibility study from 2006. The new study will
consider operational synergies with the nearby Andrea Vein where Hecla
defined a new resource in 2011.
The San Sebastian pre-development budget is expected to be approximately
$2.0 ?million and will focus on advancing and completing the scoping
study by the third quarter of 2012.
Exploration
In Mexico, drilling in 2011 has more than doubled the strike length of
the Andrea Vein to 1.7 kilometers. The Andrea Vein varies in width from
1.4 to 6.5 meters and has precious metal grades that vary from 0.1 to
4.0 grams per tonne gold and 15.2 to 481.0 grams per tonne silver.
Drilling on this structure in 2011 outlined a new resource containing
6.7 million ounces of silver and 122,200 ounces of gold in 2.2 million
tons, grading 3.1 ounces per ton silver plus 0.057 ?ounces per ton gold.
Selected drill intersections of the Andrea Vein are shown in Table F at
the end of the release. Drilling to extend resources will continue in
2012 along the Andrea Vein trend and at the sub-parallel Antonella Vein.
In 2012, the San Sebastian exploration budget is expected to be
approximately $3.0 ?million.
2012 GUIDANCE
Hecla′s exploration strategy in 2012 is largely focused on drill-testing
targets on its district-sized land positions surrounding existing
operations or re-emerging historic mining districts. With up to 12
drills operating and 250 thousand feet of underground and surface
drilling, Hecla is continuing systematic exploration. In 2012, the
exploration budget is expected to be approximately $28.0 million.
Pre-development activities in 2012 will focus on completing scoping work
and preliminary economic evaluations to potentially re-open the Star,
San Juan Silver, and San Sebastian properties which would contribute to
Hecla′s goal of 50% silver production growth over the next five years.
Based upon the current plan in 2012, the pre-development budget is
expected to be approximately $11.0 million. Hecla may allocate
additional funds during 2012 depending on the outcome of the work that
is currently planned.
CONFERENCE CALL AND WEBCAST
A conference call and webcast will be held on Tuesday, February 21, at
1:00 p.m. Eastern Time to discuss these results along with the fourth
quarter financial and operational results. You may join the conference
call by dialing toll-free 1-800-510-9661 or 1-617-614-3452
internationally. The participant passcode is HECLA. Hecla's live and
archived webcast can be accessed at www.hecla-mining.com
under Investors or via Thomson StreetEvents Network.
ABOUT HECLA
Established in 1891, Hecla Mining Company is the largest and lowest cash
cost silver producer in the U.S. The company has two operating mines and
exploration properties in four world-class silver mining districts in
the U.S. and Mexico.
Cautionary Statements
Statements made which are not historical facts, such as anticipated
payments, litigation outcome, production, sales of assets, exploration
results and plans, prospects and opportunities including reserves,
resources, and mineralization, costs, and prices or sales performance
are 'forward-looking statements' within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as 'may?, 'will?,
'should?, 'expects?, 'intends?, 'projects?, 'believes?, 'estimates?,
'targets?, 'anticipates? and similar expressions are used to identify
these forward-looking statements. Forward-looking statements involve a
number of risks and uncertainties that could cause actual results to
differ materially from those projected, anticipated, expected or
implied. These risks and uncertainties include, but are not limited to,
metals price volatility, volatility of metals production and costs,
environmental and litigation risks, operating risks, project development
risks, political and regulatory risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the company's Form
10-K and 10-Q reports for a more detailed discussion of factors that may
impact expected future results. The company undertakes no obligation and
has no intention of updating forward-looking statements other than as
may be required by law.
Cautionary Statements to Investors on Reserves and Resources
The United States Securities and Exchange Commission permits mining
companies, in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or produce.
We use certain terms on this release, such as 'resource,? 'other
resources,? and 'mineralized materials? that the SEC guidelines strictly
prohibit us from including in our filings with the SEC. U.S. investors
are urged to consider closely the disclosure in our Form 10-K and Form
10Q. You can review and obtain copies of these filings from the SEC′s
website at www.sec.gov.
Table A Hecla Estimated Ore Reserves and Resources (As of December 31, 2011) | ||||||||||||||||||
? | ? | ? | ? | ? | ? | ? | ? | ? | ||||||||||
| Silver | Gold | Lead | Zinc | Silver | Gold | Lead | Zinc | |||||||||||
| Mine - (Hecla % if < 100%) | ? | Tons | ? | (Oz/ton) | ? | (Oz/ton) | ? | (%) | ? | (%) | ? | (Ounces) | ? | (Ounces) | ? | (Tons) | ? | (Tons) |
| Proven and Probable Reserves | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
| Proven Ore Reserves | ||||||||||||||||||
| Lucky Friday Unit, USA | ? | 2,345,500 | ? | 12.6 | ? | - | ? | 7.8 | ? | 3.0 | ? | 29,573,900 | ? | - | ? | 183,100 | ? | 70,160 |
| Subtotal Proven | ? | 2,345,500 | ? | 12.6 | ? | - | ? | 7.8 | ? | 3.0 | ? | 29,573,900 | ? | - | ? | 183,100 | ? | 70,160 |
| Probable Reserves | ||||||||||||||||||
| Lucky Friday Unit, USA | 1,345,300 | 14.7 | - | 9.3 | 3.2 | 19,746,200 | - | 124,720 | 42,890 | |||||||||
| Greens Creek, USA | ? | 7,991,000 | ? | 12.3 | ? | 0.093 | ? | 3.5 | ? | 9.2 | ? | 98,383,300 | ? | 742,400 | ? | 281,620 | ? | 733,140 |
| Subtotal Probable | ? | 9,336,300 | ? | 12.7 | ? | 0.080 | ? | 4.4 | ? | 8.3 | ? | 118,129,500 | ? | 742,400 | ? | 406,340 | ? | 776,030 |
| Total Proven & Probable | ? | 11,681,800 | ? | 12.6 | ? | 0.064 | ? | 5.0 | ? | 7.2 | ? | 147,703,400 | ? | 742,400 | ? | 589,440 | ? | 846,190 |
| Mineralized Material | ||||||||||||||||||
| Lucky Friday Unit, USA (1) | 18,857,800 | 6.3 | - | 4.2 | 2.0 | 118,773,700 | - | 783,650 | 369,960 | |||||||||
| Greens Creek, USA (2) | 445,900 | 5.8 | 0.109 | 3.0 | 7.0 | 2,582,400 | 48,500 | 13,430 | 31,170 | |||||||||
| San Juan Silver - Creede (3) | 515,500 | 14.8 | - | 2.1 | 1.1 | 7,619,600 | - | 10,760 | 5,820 | |||||||||
| Star Complex (4) | ? | 986,200 | ? | 3.2 | ? | - | ? | 6.8 | ? | 7.7 | ? | 3,146,400 | ? | - | ? | 66,730 | ? | 75,620 |
| Total Mineralized Material | ? | 20,805,400 | ? | 6.4 | ? | 0.002 | ? | 4.2 | ? | 2.3 | ? | 132,122,100 | ? | 48,500 | ? | 874,570 | ? | 482,570 |
| Other Resources | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Lucky Friday Unit, USA (5) | 4,396,900 | 9.7 | - | 6.4 | 2.0 | 42,531,600 | - | 279,770 | 87,300 | |||||||||
| Greens Creek, USA (6) | 4,416,700 | 11.9 | 0.093 | 2.3 | 5.7 | 52,581,500 | 412,700 | 101,570 | 253,380 | |||||||||
| San Sebastian Hugh (7) | 1,142,500 | 8.0 | 0.010 | 2.9 | 4.4 | 9,186,200 | 14,300 |
| 49,930 | |||||||||
| San Sebastian Andrea (8) | 2,151,300 | 3.1 | 0.057 | 0.0 | 0.0 | 6,654,000 | 122,200 | - | - | |||||||||
| San Juan Silver - Creede (9) | 2,577,300 | 11.4 | - | 1.6 | 1.4 | 29,446,100 | - | 40,990 | 34,980 | |||||||||
| Star Complex (10) | ? | 2,379,100 | ? | 3.5 | ? | - | ? | 5.9 | ? | 6.0 | ? | 8,213,800 | ? | - | ? | 139,590 | ? | 142,650 |
| Total Other Resources | ? | 17,063,800 | ? | 8.7 | ? | 0.032 | ? | 3.5 | ? | 3.3 | ? | 148,613,200 | ? | 549,100 | ? | 594,940 | ? | 568,240 |
? | ||||||||||||||||||
| (1) Measured and Indicated resources from Gold Hunter and Lucky Friday vein systems, diluted and factored for expected mining recovery. | ||||||||||||||||||
| (2) Indicated resources, Gallagher orebody, factored for dilution and mining recovery. | ||||||||||||||||||
| (3) Indicated resources diluted and factored to minimum mining width mechanized 6.0 feet -A vein only -100% Hecla | ||||||||||||||||||
| (4) Indicated resources diluted and factored to minimum mining width for conventional mining. | ||||||||||||||||||
| (5) Inferred resources from Gold Hunter and Lucky Friday vein systems, diluted and factored for expected mining recovery. | ||||||||||||||||||
| (6) Inferred resources, East, West, SW, Gallagher, NWW, '9A', and 200S orebodies, factored for dilution and mining recovery. | ||||||||||||||||||
| (7) Inferred resources, Hugh zone (Deep Francine) - diluted and factored to minimum mining width (also contains 23,540 tons of copper). | ||||||||||||||||||
| (8) Inferred resources diluted and factored to minimum mining width - 2 meter. | ||||||||||||||||||
| (9) Inferred resources diluted and factored to minimum mining width. San Juan JV (Creede, CO) - 100% Hecla in 2011. | ||||||||||||||||||
| (10) Inferred resources diluted and factored to minimum mining width for conventional mining. | ||||||||||||||||||
? | ||||||||||||||||||
TABLE B GREENS CREEK | |||||||||||||||
| MINE / PROJECT | ? | Zone | ? | Area | ? | Width (Feet) | ? | Gold (oz/ton) | ? | Silver (oz/ton) | ? | Zinc (%) | ? | Lead (%) | |
? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |
| GREENS CREEK | ? | Gallagher | ? | ? | ? | 3.6 | ? | 0.22 | ? | 29.1 | ? | 10.9 | ? | 4.9 | |
? | ? | Gallagher | ? | ? | ? | 3.1 | ? | 0.26 | ? | 15.1 | ? | 5.2 | ? | 4.3 | |
? | ? | Gallagher | ? | ? | ? | 5.0 | ? | 0.21 | ? | 18.1 | ? | 17.8 | ? | 6.9 | |
? | ? | Gallagher | ? | ? | ? | 2.2 | ? | 0.19 | ? | 10.5 | ? | 8.1 | ? | 3.7 | |
? | ? | Gallagher | ? | ? | ? | 9.5 | ? | 0.23 | ? | 9.2 | ? | 5.8 | ? | 2.8 | |
? | ? | Gallagher | ? | ? | ? | 4.5 | ? | 0.31 | ? | 9.8 | ? | 11.2 | ? | 3.2 | |
? | ? | Gallagher | ? | ? | ? | 5.2 | ? | 0.26 | ? | 18.3 | ? | 12.4 | ? | 5.1 | |
? | ? | Gallagher | ? | ? | ? | 4.4 | ? | 0.21 | ? | 13.8 | ? | 17.8 | ? | 6.9 | |
? | ? | Gallagher | ? | ? | ? | 9.5 | ? | 0.23 | ? | 9.2 | ? | 5.8 | ? | 2.8 | |
? | ? | Gallagher | ? | ? | ? | 2.3 | ? | 0.25 | ? | 13.2 | ? | 2.8 | ? | 2.8 | |
? | ? | Gallagher | ? | ? | ? | 3.3 | ? | 0.24 | ? | 10.2 | ? | 6.8 | ? | 5.2 | |
? | ? | Gallagher | ? | ? | ? | 6.4 | ? | 0.21 | ? | 18.5 | ? | 4.1 | ? | 1.7 | |
? | ? | 200 South | ? | Upper Limb | ? | 12.0 | ? | 0.14 | ? | 10.2 | ? | 3.8 | ? | 2.2 | |
? | ? | 200 South | ? | Upper Limb | ? | 9.4 | ? | 0.21 | ? | 18.5 | ? | 4.1 | ? | 1.7 | |
? | ? | 200 South | ? | Lower Limb | ? | 25.6 | ? | 0.05 | ? | 16.0 | ? | 8.9 | ? | 4.6 | |
? | ? | 200 South | ? | Lower Limb | ? | 14.8 | ? | 0.24 | ? | 16.3 | ? | 4.8 | ? | 1.8 | |
? | ? | ? | ? | ? | ? | ? | |||||||||
TABLE C LUCKY FRIDAY | |||||||||||
| MINE / PROJECT | ? | Vein Number / Area | ? | Width (Feet) | ? | Silver (oz/ton) | ? | Zinc (%) | ? | Lead (%) | |
? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |
| LUCKY FRIDAY (7500 - 7600 LEVELS) | ? | 30 Vein | ? | 6.0 | ? | 11.0 | ? | 8.8 | ? | 1.1 | |
| (Within Silver Fault Blocks) | ? | 40 Vein | ? | 3.9 | ? | 8.0 | ? | 2.5 | ? | 9.5 | |
? | ? | 50 Vein | ? | 14.5 | ? | 7.8 | ? | 3.5 | ? | 7.2 | |
? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |
| LUCKY FRIDAY (7000 - 7200 LEVELS) | ? | 20 Vein | ? | 4.5 | ? | 7.6 | ? | 7.6 | ? | 6.3 | |
| (Within Silver Fault Blocks) | ? | 21 Vein | ? | 4.3 | ? | 11.9 | ? | 10.3 | ? | 11.2 | |
? | ? | 40 Vein | ? | 1.5 | ? | 26.5 | ? | 1.1 | ? | 17.5 | |
? | ? | 50 Vein | ? | 2.8 | ? | 18.2 | ? | 10.2 | ? | 15.1 | |
? | ? | 50 Vein | ? | 2.1 | ? | 27.2 | ? | 19.2 | ? | 1.1 | |
? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |
| LUCKY FRIDAY (6500 - 7200 LEVELS) | ? | 5 Vein | ? | 3.9 | ? | 13.1 | ? | 10.9 | ? | 16.4 | |
| (Drilling Western Resource Margins) | ? | 20 Vein | ? | 4.8 | ? | 10.5 | ? | 2.4 | ? | 10.3 | |
? | ? | 30 Vein | ? | 12.7 | ? | 28.7 | ? | 4.5 | ? | 19.1 | |
? | ? | 30 Vein | ? | 9.4 | ? | 26.5 | ? | 5.2 | ? | 16.7 | |
? | ? | 30 Vein | ? | 8.9 | ? | 9.2 | ? | 4.3 | ? | 7.1 | |
? | ? | 30 Vein | ? | 15.0 | ? | 23.3 | ? | 0.2 | ? | 2.3 | |
? | ? | 30 Vein | ? | 6.1 | ? | 12.8 | ? | 9.7 | ? | 6.7 | |
? | ? | 40 Vein | ? | 5.4 | ? | 18.2 | ? | 7.4 | ? | 12.8 | |
? | ? | 90 Vein | ? | 1.8 | ? | 13.7 | ? | 1.1 | ? | 8.8 | |
? | ? | ? | ? | ? | |||||||
TABLE D SILVER VALLEY | |||||||||||
| MINE / PROJECT | ? | Vein Number / Area | ? | Width (Feet) | ? | Silver (oz/ton) | ? | Zinc (%) | ? | Lead (%) | |
| SILVER VALLEY DRILLING | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |
? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |
| Noonday Drilling | ? | Noonday | ? | 9.6 | ? | 13.0 | ? | 0.0 | ? | 22.2 | |
? | ? | Noonday | ? | 5.3 | ? | 14.1 | ? | 0.1 | ? | 15.3 | |
? | ? | Noonday | ? | 3.7 | ? | 5.3 | ? | 0.1 | ? | 3.4 | |
? | ? | Noonday | ? | 1.6 | ? | 16.2 | ? | 0.3 | ? | 24.8 | |
? | ? | Noonday | ? | 1.3 | ? | 29.4 | ? | 0.0 | ? | 31.1 | |
? | ? | Noonday | ? | 10.2 | ? | 9.5 | ? | 0.9 | ? | 10.9 | |
? | ? | Noonday | ? | 6.0 | ? | 9.7 | ? | 0.8 | ? | 1.2 | |
? | ? | Noonday Split | ? | 4.1 | ? | 8.5 | ? | 1.3 | ? | 4.9 | |
? | ? | Noonday Split | ? | 5.3 | ? | 14.1 | ? | 3.0 | ? | 15.3 | |
? | ? | Noonday Split | ? | 6.7 | ? | 6.5 | ? | 0.7 | ? | 12.1 | |
? | ? | Noonday Split | ? | 2.0 | ? | 10.3 | ? | 0.0 | ? | 9.8 | |
? | ? | Morning | ? | 3.0 | ? | 18.3 | ? | 1.7 | ? | 23.2 | |
? | ? | Morning | ? | 2.3 | ? | 7.1 | ? | 0.8 | ? | 6.6 | |
? | ? | ? | ? | ? | |||||||
TABLE E SAN JUAN SILVER | |||||||||
| MINE / PROJECT | ? | Vein Area | ? | Width (Feet) | ? | Gold (oz/ton) | ? | Silver (oz/ton) | |
? | ? | ? | ? | ? | ? | ? | ? | ? | |
| San Juan Silver (Creede) | ? | Equity | ? | 7.0 | ? | 0.17 | ? | 17.1 | |
? | ? | including | ? | 3.0 | ? | 0.31 | ? | 30.4 | |
? | ? | Equity | ? | 5.3 | ? | 0.14 | ? | 13.9 | |
? | ? | Equity | ? | 8.3 | ? | 0.08 | ? | 8.0 | |
? | ? | Equity | ? | 2.0 | ? | 0.46 | ? | 52.9 | |
? | ? | Equity | ? | 2.9 | ? | 0.19 | ? | 24.1 | |
? | ? | Equity | ? | 5.0 | ? | 0.04 | ? | 7.7 | |
? | ? | Equity | ? | 3.0 | ? | 0.11 | ? | 11.6 | |
? | ? | ? | ? | ||||||
TABLE F SAN SEBASTIAN | |||||||||
| MINE / PROJECT | ? | Area | ? | Width (Meters) | ? | Gold (g/tonne) | ? | Silver (g/tonne) | |
? | ? | ? | ? | ? | ? | ? | ? | ? | |
| MEXICO - SAN SEBASTIAN | ? | Andrea | ? | 4.4 | ? | 4.0 | ? | 418.0 | |
? | ? | Andrea | ? | 6.5 | ? | 0.7 | ? | 195.0 | |
? | ? | Andrea | ? | 1.4 | ? | 2.5 | ? | 378.0 | |
? | ? | Andrea | ? | 1.8 | ? | 2.5 | ? | 215.0 | |
? | ? | Andrea | ? | 2.1 | ? | 3.4 | ? | 76.5 | |
? | ? | Andrea | ? | 1.8 | ? | 2.1 | ? | 213.0 | |
? | ? | Andrea | ? | 2.2 | ? | 3.1 | ? | 87.4 | |
? | ? | Andrea | ? | 0.5 | ? | 3.0 | ? | 481.0 | |
? | ? | Andrea | ? | 1.6 | ? | 0.2 | ? | 358.0 | |
? | ? | Andrea | ? | 1.4 | ? | 1.1 | ? | 172.0 | |
Hecla Mining Company
M?lanie Hennessey, 604-694-7729
Vice
President ? Investor Relations
Direct Main: 800-HECLA91
(800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com
or
Hecla
Canada Ltd.
400 ? 580 Hornby Street
Vancouver, British Columbia
V6C
3B6 Canada
or
Hecla Mining Company
6500 N. Mineral Drive,
Suite 200
Coeur d′Alene, Idaho 83815
