Toggle SGML Header (+)


Section 1: 8-K (FORM 8-K)

hl20200204_8k.htm
false 0000719413 0000719413 2020-02-05 2020-02-05 0000719413 hl:CommonStockCustomMember 2020-02-05 2020-02-05 0000719413 hl:SeriesBCumulativeConvertiblePreferredStockCustomMember 2020-02-05 2020-02-05

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

____________________

 

FORM 8-K

 

Current Report

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 5, 2020

 

HECLA MINING COMPANY
(Exact name of registrant as specified in its charter) 

   

Delaware 1-8491 77-0664171

(State or other jurisdiction

of incorporation)

(Commission File Number) (IRS Employer Identification No.)

            

6500 North Mineral Drive, Suite 200

Coeur d'Alene, Idaho 83815-9408

(Address of principal executive offices) (Zip Code)

 

(208) 769-4100

Registrant's telephone number, including area code

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading

Symbol(s)

Name of each exchange on

which registered

Common Stock, par value $0.25 per share

HL

New York Stock Exchange

Series B Cumulative Convertible Preferred Stock, par value $0.25 per share

HL-PB

New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 7.01. Regulation FD Disclosure.

 

On February 5, 2020, the Company issued a news release discussing certain exploration activities during the fourth quarter of 2019 and reporting reserve and resource estimates as at December 31, 2019. A copy of the Company’s news release is attached as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

 

Cautionary Statements to Investors on Reserves and Resources

 

Reporting requirements in the United States for disclosure of mineral properties are governed by the SEC and included in the SEC's Securities Act Industry Guide 7, entitled “Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations” (“Guide 7”). Although the SEC has recently issued new rules rescinding Guide 7, the new rules are not binding until January 1, 2021, and at this time the Company still reports in accordance with Guide 7. However, the Company is also a “reporting issuer” under Canadian securities laws, which require estimates of mineral resources and reserves to be prepared in accordance with NI 43-101. NI 43-101 requires all disclosure of estimates of potential mineral resources and reserves to be disclosed in accordance with its requirements. Such Canadian information is being included here to satisfy the Company's “public disclosure” obligations under Regulation FD of the SEC and to provide U.S. holders with ready access to information publicly available in Canada.

 

Reporting requirements in the United States for disclosure of mineral properties under Guide 7 and the requirements in Canada under NI 43-101 standards are substantially different. The Reports contain certain estimates, not only of proven and probable reserves within the meaning of Guide 7, but also of mineral resource and mineral reserve estimates estimated in accordance with the definitional standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in NI 43-101. Under Guide 7, the term “reserve” means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term “economically,” as used in the definition of reserve, means that profitable extraction or production has been established or analytically demonstrated to be viable and justifiable under reasonable investment and market assumptions. The term “legally,” as used in the definition of reserve, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, the Company must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with the Company’s current mine plans. The terms “measured resources”, “indicated resources,” and “inferred resources” are Canadian mining terms as defined in accordance with NI 43-101. These terms are not defined under Guide 7 and are not normally permitted to be used in reports and registration statements filed with the SEC in the United States, except where required to be disclosed by foreign law. The term “resource” does not equate to the term “reserve”. Under Guide 7, the material described in the Reports as “indicated resources” and “measured resources” would be characterized as “mineralized material” and is permitted to be disclosed in tonnage and grade only, not ounces. The category of “inferred resources” is not recognized by Guide 7. Investors are cautioned not to assume that any part or all of the mineral deposits in such categories will ever be converted into proven or probable reserves. “Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of such a “resource” will ever be upgraded to a higher category or will ever be economically extracted. Investors are cautioned not to assume that all or any part of a “resource” exists or is economically or legally mineable. Investors are also especially cautioned that the mere fact that such resources may be referred to in ounces of silver and/or gold, rather than in tons of mineralization and grades of silver and/or gold estimated per ton, is not an indication that such material will ever result in mined ore which is processed into commercial silver or gold.

 

2

 

 

In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any of the Company’s filings or other documents filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit

Number

 

Description

     
99.1   News Release, dated February 5, 2020. *
     

104

 

Cover Page Interactive Data File (formatted as Inline BRL and contained in Exhibit 101).

     
    * Furnished herewith

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated:      February 5, 2020

 

Hecla Mining Company

By:

/s/ David C. Sienko

    David C. Sienko

    Vice President & General Counsel

 

3

(Back To Top)

Section 2: EX-99.1 (EXHIBIT 99.1)

ex_171482.htm

 

NEWS RELEASE Exhibit 99.1

 

HECLA REPORTS RECORD SILVER, LEAD AND ZINC RESERVES INCREASES OF 11%, 5% AND 8%, RESPECTIVELY

 

FOR IMMEDIATE RELEASE

February 5, 2020

 

COEUR D’ALENE, IDAHO -- Hecla Mining Company (NYSE:HL) today reported the highest silver, lead, and zinc reserves in its 129-year history and provided an update on its exploration programs during the fourth quarter of 2019.

 

Highlights

 

 

Company-wide reserves increased 11% for silver ounces including 22% more silver ounces at Greens Creek, reflecting a commitment to exploration and improved data use.

 

High-grade intersections drilled at Greens Creek and Casa Berardi.

 

Reserve price assumptions of $14.50/oz silver (expected to be among the lowest in the industry), $1,300/oz gold, $1.15/lb zinc and $0.90/lb lead.

 

“The foundation of value creation for any mining company is increasing reserves, and Hecla’s silver, lead and zinc reserves are the most in our 129-year history,” said Phillips S. Baker, Jr., President and CEO. “Despite using what we believe is the industry’s most conservative price assumption and spending our second lowest amount on exploration in the last 10 years, Hecla grew silver reserves 11% last year with Greens Creek having its most reserves since 2001. We expect our exploration programs over the next few years to further add reserves across the Company.”

 

RESERVES AND RESOURCES

 

Hecla replaced silver production in 2019 (15.4 million silver ounces contained) and proven and probable reserves increased 11%, despite using $14.50/oz for the reserve calculation. In the last 12 years, Hecla has not only replaced silver production but added another 234 million ounces through exploration (Figure 1). Both zinc and lead production were replaced, and reserves increased by 8% and 5%, respectively. About 60% of gold production was replaced (341,064 gold ounces contained) and proven and probable reserves decreased only 5% over 2018; gold reserves were calculated at $1,300/oz.

 

Measured and indicated silver ounces increased 4% to a record 217 million ounces, an increase of 9 million ounces over 2018 with increases at Greens Creek, Lucky Friday, and San Sebastian. Measured and indicated gold ounces decreased 19% to 5.8 million ounces, a reduction of 1.34 million ounces over 2018 due to conversion and reclassification of some resources at Casa Berardi and Fire Creek to inferred. Inferred silver resources decreased 2% to 457 million ounces, a reduction of 8.3 million ounces due to decreases at Greens Creek, San Sebastian, and the Nevada properties. Inferred gold resources increased 35% to 4.9 million ounces with the 1.3 million ounce gain primarily due to reclassification of some resources at Casa Berardi and Fire Creek.

 

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

1

 

 

 

Greens Creek

 

At Greens Creek, the 846,076 tons processed at the mill in 2019 contained 12.4 million ounces of silver, 81,223 ounces of gold, 62,863 tons of zinc, and 24,704 tons of lead. Silver, gold and base metal production was replaced, and silver, gold, zinc, and lead reserves increased by 22%, 11%, 10%, and 16%, respectively, over 2018 reserves. The current proven and probable silver and gold reserves are the highest total reserve since 2001.

 

The current mine plan accesses higher-grade ore in the earlier years of the mine plan from existing workings which reduces the required development investment. In addition, the mine life from only reserves is expected to be to 2031.

 

Casa Berardi

 

At Casa Berardi, the 1,378,065 tons processed at the mill contained approximately 165,368 ounces of gold, with 57% of the milled tonnage coming from underground and 43% of the milled tonnage coming from the East Mine Crown Pillar (EMCP) Pit. Proven and probable gold reserves decreased approximately 10% to 1.72 million ounces and reserve tonnage at Casa Berardi decreased 4% to 20.6 million tons over 2018. There was an overall reduction in underground reserves of 105,600 gold ounces and a decrease of open pit reserves of 83,100 gold ounces compared to 2018. Most of these decreases were due to mining depletion. Hecla has mined over 1 million ounces of gold at Casa Berardi since acquisition in 2013.

 

Measured and indicated gold resources decreased 12% from 2018 levels as gains from underground drilling were offset by decreases in the Pit areas. The largest decreases were a result of conversion to underground reserves of the 148 Zone and reclassification of some resources to Inferred below the 160 Pit. Inferred gold resources increased 49% from 2018 levels.

 

San Sebastian

 

At San Sebastian, the 174,713 tons processed at the mill contained 2.06 million ounces of silver and 18,520 ounces of gold. Proven and probable reserves are currently 881,400 ounces of silver and 7,600 ounces of gold. At the end of the year there was an ore stockpile containing 165,800 silver ounces and 2,700 ounces of gold. The total underground reserves in the Middle Vein are 597,800 ounces silver and 2,400 ounces gold and represent 68% and 32% of the silver and gold reserves, respectively. The total open pit reserves in the North Vein are 117,800 ounces silver and 2,500 ounces gold and represent 13% and 33% of the silver and gold reserves, respectively.

 

Indicated resources increased from 2018 by 44% to 17.9 million ounces for silver and 42% to 154,500 ounces for gold. Indicated resources are separated into ‘Oxide’ and ‘Polymetallic’ mineral styles; oxide is cyanide-amenable material and polymetallic is base-metal-sulfide-rich material amenable to a flotation milling process. The ‘Oxide’ portion of the measured and indicated resources contain 56% of the silver (9.98 million oz) and 88% of the gold (135,400 oz). The recently discovered El Toro Vein system south of the main mining area contains 52% of the ‘Oxide’ silver (5.23 million oz) and 38% of the ‘Oxide’ gold (51,800 oz) in the measured and indicated class. Polymetallic resources represent 44% of the silver and 12% of the measured and indicated gold resources and have associated lead, zinc, and copper. Inferred resources are essentially unchanged from 2018 with 22.2 million ounces of silver and 147,300 ounces of gold. ‘Oxide’ resources account for 84% of the silver and 95% of the gold in the Inferred resource.

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

2

 

 

 

Open pit mining continued in 2019 in the expanded North Pit to the west and at depth and an additional smaller ‘satellite pit’ to the west and mining of this pit is expected to continue into 2020. New high-grade, precious metal resources on the El Toro Vein south of the main mining area are being evaluated for open pit and underground mining. Test mining and milling of the

polymetallic resource in the Hugh Zone of the Francine Vein during 2019 produced encouraging results for possible conversion to reserves during 2020.

 

Lucky Friday

 

At Lucky Friday, the 57,091 tons processed at the mill contained approximately 675,387 ounces of silver, 4,487 tons of lead, and 2,426 tons of zinc. Proven and probable reserves are currently 80.3 million ounces of silver, 505,740 tons of lead and 223,520 tons of zinc and are essentially unchanged from 2018. Measured and indicated resources have increased 10% to 82.4 million ounces for silver, 8% to 523,670 tons for lead and 7% to 276,660 tons for zinc. Inferred resources increased slightly year-over-year and include 26.2 million ounces of silver (+5%), 190,500 tons of lead (+5%) and 82,250 tons of zinc (+11%).

 

Nevada

 

Mill production in Nevada during 2019 was 210,397 tons containing 75,953 ounces of gold and 345,051 ounces of silver.

 

Proven and probable reserves at Fire Creek are 54,100 ounces of gold and 50,600 ounces of silver and are a reduction from year-end 2018 of 22% for gold and 11% for silver. Measured and indicated underground resources are 182,400 ounces of gold and 176,100 ounces of silver and inferred resources are 278,200 ounces of gold and 294,900 ounces of silver.

 

There are currently no mineral reserves at Hollister or Midas. At Hollister, measured and indicated resources are 164,300 ounces of gold and 785,800 ounces of silver and inferred resources are 184,800 ounces of gold and 1.25 million ounces of silver. At Midas, measured and indicated resources are 287,500 ounces of gold and 3.99 million ounces of silver and inferred resources are 182,800 ounces of gold and 1.49 million ounces of silver.

 

A breakdown of the Company’s reserves and resources is set out in Table A at the end of this news release.

 

EXPLORATION

 

Exploration (excluding corporate development) expenses were $2.2 million, and $15.2 million for the fourth quarter and full year 2019, respectively. This represents a decrease of 74% and 58% from the fourth quarter and full year 2018, respectively. These decreases were primarily the result of reductions in exploration in Nevada with smaller decreases in exploration at all other sites.

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

3

 

 

 

Greens Creek – Alaska

 

At Greens Creek, strong definition drilling assay results received in the fourth quarter have upgraded and expanded the East Ore and 200 South zone resources (Figure 2). In the East Ore Zone (Figure 3), intersections at the north end of the zone, including 56.6 oz/ton silver, 0.13 oz/ton gold, 4.5% zinc and 1.5% lead over 4.3 feet, confirm previously modeled Inferred resource estimates along 150 feet of strike length. In the 200 South Zone, drilling intersections at the northern end of the 200 South Bench over 200 feet of strike length include 16.8 oz/ton silver, 0.24 oz/ton gold, 12.7% zinc and 6.1% lead over 22.4 feet. The focus of the first quarter of 2020 is to further define the East Ore and 200 South zones.

 

Exploration drilling in the fourth quarter focused on the 200 South Zone (Figure 4) and expanded upper bench mineralization 350 feet and lower contact mineralization 800 feet down plunge from the current resource model. Recent intersections from the upper bench mineralization includes 11.5 oz/ton silver, 0.06 oz/ton gold, 6.6% zinc and 3.6% lead over 15.3 feet and 50.5 oz/ton silver, 0.05 oz/ton gold, 1.5% zinc and 0.7 lead over 12.0 feet. Recent intersections from the lower contact mineralization include 4.5 oz/ton silver, 0.05 oz/ton gold, 7.7% zinc and 3.6% lead over 4.0 feet. Drilling in 2020 is planned to continue defining the East, 9A, West, Upper Plate and 200S zones and explore down-plunge of the Gallagher Zone.

 

More complete drill assay highlights from Greens Creek can be found in Table B at the end of this release and a presentation showing drill intersection locations is available at the following: http://ir.hecla-mining.com//interactive/newlookandfeel/4130678/Hecla_Q4-2019_ExplorationUpdate.pdf.

 

Casa Berardi – Quebec

 

During the fourth quarter, up to seven underground drills were used to refine stope designs, expand reserves and resources in the 113, 118, 119, 124, 128 and 148 zones and confirm further potential at depth and to the east and west (Figure 5). One drill on surface completed in-fill and exploration drilling within and near the proposed 160 Pit (Figure 5) and continues to confirm continuity with the pit outline and expand resource outside of the current pit design.    

 

Drilling in the East Mine focused on defining continuity and expanding mineralization in the high-grade 148 Zone and open pit mineralization within and outside the proposed 160 Pit. Within the 148-01 lens in the 148 Zone, high-grade intersections include 0.48 oz/ton gold over 11.8 feet, 0.89 oz/ton gold over 14.8 feet and 0.47 oz/ton gold over 29.8 feet confirming continuity within the lens (Figures 6 and 7). Drilling in the 160 Zone within and below the current pit outline continues to define broad intervals of mineralization and adding resources with recent intersections including 0.11 oz/ton gold over 113.2 feet and 0.13 oz/ton gold over 68.6 feet.

 

In the West Mine area, drilling in the 113 and 118 zones targeted multiple lenses along the Casa Berardi Fault in order to extend known mineralization at depth and to the east outside of the current resources. Recent intersections including 0.11 oz/ton gold over 26.2 feet suggest this zone continues to be open at depth. High in the mine, drilling targeted the eastern extension of the stacked 119 Zone ore lenses at the contact between the sediments and volcanics associated with pyritic chert and stacked quartz veins south of the Casa Berardi Fault. Recent intersections include 0.25 oz/ton gold over 29.5 feet including 0.42 oz/ton gold over 5.9 feet and 0.12 oz/ton gold over 37.1 feet.

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

4

 

 

 

In the first quarter of 2020, underground drilling is expected to expand and refine resources in 123 Zone in the West Mine and the high-grade 148 Zone in the East Mine. Underground exploration drilling during the year is planned to evaluate the lower extension of the 113-118 and 128 zones in the West Mine and the 146, 148, and 152 zones in the East Mine.

 

More complete drill assay highlights from Casa Berardi can be found in Table B at the end of the release and a presentation showing drill intersection locations is available at the following: http://ir.hecla-mining.com//interactive/newlookandfeel/4130678/Hecla_Q4-2019_ExplorationUpdate.pdf.

 

San Sebastian - Mexico

 

During the quarter, three surface core drill rigs operated at San Sebastian focused on an in-fill drilling program along the shallow, potentially open pit minable, portions of the El Toro and El Toro Hanging Wall veins (Figure 8). Mineralization at the El Toro Vein has been identified over 5,000 feet of strike length and over 900 feet down dip. Recent core drilling includes intersections of 10.7 oz/ton silver and 0.14 oz/ton gold over 16.3 feet, 18.5 oz/ton silver and 0.14 oz/ton gold over 10.6 feet, and 12.1 oz/ton silver and 0.10 oz/ton gold over 14.4 feet (Figure 9).

 

In the first quarter of 2020, grid pattern Short Vertical Reverse Circulation (SVRC) drilling is planned to continue to explore through cover for new veins and near-surface oxide mineralization by sampling overburden and bedrock west of the current El Toro resource area. During the year, additional exploration core drilling will follow up on additional vein systems near El Toro.

 

More complete drill assay highlights from San Sebastian can be found in Table B at the end of this release and a presentation showing drill intersection locations is available at the following: http://ir.hecla-mining.com//interactive/newlookandfeel/4130678/Hecla_Q4-2019_ExplorationUpdate.pdf.

 

ABOUT HECLA

 

Founded in 1891, Hecla Mining Company (NYSE:HL) is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with operating mines in Quebec, Canada and Nevada. The Company also has exploration and pre-development properties in eight world-class silver and gold mining districts in the U.S., Canada, and Mexico.

 

Cautionary Statements Regarding Forward Looking Statements

 

Statements made or information provided in this news release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Such forward looking statements may include, without limitation: expectations that Hecla’s exploration over the next few years could further add reserves across the Company. The material factors or assumptions used to develop such forward-looking statements or forward-looking information include that the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated, to which the Company’s operations are subject.

 

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, litigation, regulatory and environmental risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the Company's Form 10K and 10-Q reports for a more detailed discussion of risk 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.

 

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

5

 

 

 

Cautionary Statements to Investors on Reserves and Resources

 

Reporting requirements in the United States for disclosure of mineral properties are governed by the SEC and included in the SEC's Securities Act Industry Guide 7, entitled “Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations” (Guide 7). Although the SEC has recently issued new rules rescinding Guide 7, the new rules are not binding until January 1, 2021, and at this time the Company still reports in accordance with Guide 7. However, the Company is also a “reporting issuer” under Canadian securities laws, which require estimates of mineral resources and reserves to be prepared in accordance with Canadian National Instrument 43-101 (NI 43-101). NI 43-101 requires all disclosure of estimates of potential mineral resources and reserves to be disclosed in accordance with its requirements. Such Canadian information is included herein to satisfy the Company's “public disclosure” obligations under Regulation FD of the SEC and to provide U.S. holders with ready access to information publicly available in Canada.

 

Reporting requirements in the United States for disclosure of mineral properties under Guide 7 and the requirements in Canada under NI 43-101 standards are substantially different. This document contains a summary of certain estimates of the Company, not only of proven and probable reserves within the meaning of Guide 7, but also of mineral resource and mineral reserve estimates estimated in accordance with the definitional standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in NI 43-101. Under Guide 7, the term "reserve" means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term "economically", as used in the definition of reserve, means that profitable extraction or production has been established or analytically demonstrated to be viable and justifiable under reasonable investment and market assumptions. The term "legally", as used in the definition of reserve, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Hecla must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Hecla's current mine plans. The terms “measured resources”, “indicated resources,” and “inferred resources” are Canadian mining terms as defined in accordance with NI 43-101. These terms are not defined under Guide 7 and are not normally permitted to be used in reports and registration statements filed with the SEC in the United States, except where required to be disclosed by foreign law. The term “resource” does not equate to the term “reserve”. Under Guide 7, the material described herein as “indicated resources” and “measured resources” would be characterized as “mineralized material” and is permitted to be disclosed in tonnage and grade only, not ounces. The category of “inferred resources” is not recognized by Guide 7. Investors are cautioned not to assume that any part or all the mineral deposits in such categories will ever be converted into proven or probable reserves. “Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of such a “resource” will ever be upgraded to a higher category or will ever be economically extracted. Investors are cautioned not to assume that all or any part of a “resource” exists or is economically or legally mineable. Investors are also especially cautioned that the mere fact that such resources may be referred to in ounces of silver and/or gold, rather than in tons of mineralization and grades of silver and/or gold estimated per ton, is not an indication that such material will ever result in mined ore which is processed into commercial silver or gold.

 

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

6

 

 

 

Qualified Person (QP) Pursuant to Canadian National Instrument 43-101

 

Kurt D. Allen, MSc., CPG, Director - Exploration of Hecla Limited and Keith Blair, MSc., CPG, Chief Geologist of Hecla Limited, who serve as a Qualified Person under National Instrument 43-101("NI 43-101"), supervised the preparation of the scientific and technical information concerning Hecla’s mineral projects in this news release, including with respect to the newly acquired Nevada projects. Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of analytical or testing procedures for the Greens Creek Mine are contained in a technical report titled “Technical Report for the Greens Creek Mine” effective date December 31, 2018, and for the Lucky Friday Mine are contained in a technical report titled “Technical Report for the Lucky Friday Mine Shoshone County, Idaho, USA” effective date April 2, 2014, for Casa Berardi are contained in a technical report titled "Technical Report on the mineral resource and mineral reserve estimate for Casa Berardi Mine, Northwestern Quebec, Canada" effective date December 31, 2018 (the "Casa Berardi Technical Report"), and for the San Sebastian Mine, Mexico, are contained in a technical report prepared for Hecla titled “Technical Report for the San Sebastian Ag-Au Property, Durango, Mexico” effective date September 8, 2015 . Also included in these four technical reports is a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors. Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of sample, analytical or testing procedures for the Fire Creek Mine are contained in a technical report prepared for Klondex Mines, dated March 31, 2018; the Hollister Mine dated May 31, 2017, amended August 9, 2017; and the Midas Mine dated August 31, 2014, amended April 2, 2015. Copies of these technical reports are available under Hecla's and Klondex's profiles on SEDAR at www.sedar.com. Mr. Allen and Mr. Blair reviewed and verified information regarding drill sampling, data verification of all digitally collected data, drill surveys and specific gravity determinations relating to all the mines. The review encompassed quality assurance programs and quality control measures including analytical or testing practice, chain-of-custody procedures, sample storage procedures and included independent sample collection and analysis. This review found the information and procedures meet industry standards and are adequate for Mineral Resource and Mineral Reserve estimation and mine planning purposes.

 

 

For further information, please contact:

 

Mike Westerlund

Vice President - Investor Relations

800-HECLA91 (800-432-5291)

Investor Relations               

Email: [email protected]

Website: http://www.hecla-mining.com

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

7

 

 

 

Table A: Reserves and Resources – 12/31/19(1)

 

Proven Reserves

 

Tons

Silver

Gold

Lead

Zinc

Copper

Silver

Gold

Lead

Zinc

Copper

Asset

(000)

(oz/ton)

(oz/ton)

%

%

%

(000 oz)

(000 oz)

(Tons)

(Tons)

(Tons)

Greens Creek (2)

7

14.8

0.08

2.6

5.4

-

106

1

180

390

-

Lucky Friday (2)

4,185

15.4

-

9.6

4.1

-

64,506

-

401,020

172,880

-

Casa Berardi Open Pit (3)

5,873

-

0.08

-

-

-

-

447

-

-

-

Casa Berardi Underground (3)

974

-

0.16

-

-

-

-

156

-

-

-

San Sebastian (2)

35

4.8

0.08

-

-

-

166

3

-

-

-

Fire Creek (2,4)

22

1.2

1.51

-

-

-

28

33

-

-

-

Total

11,096

 

64,805

640

401,200

173,270

-

 

Probable Reserves

 

Tons

Silver

Gold

Lead

Zinc

Copper

Silver

Gold

Lead

Zinc

Copper

Asset

(000)

(oz/ton)

(oz/ton)

%

%

%

(000 oz)

(000 oz)

(Tons)

(Tons)

(Tons)

Greens Creek (2)

10,713

12.2

0.09

2.8

7.3

-

130,791

932

305,010

778,020

-

Lucky Friday (2)

1,386

11.4

-

7.6

3.7

-

15,815

-

104,720

50,640

-

Casa Berardi Open Pit (3)

11,802

-

0.07

-

-

-

-

809

-

-

-

Casa Berardi Underground (3)

1,978

-

0.15

-

-

-

-

305

-

-

-

San Sebastian (2)

66

10.9

0.07

-

-

-

716

5

-

-

-

Fire Creek (2,4)

37

0.6

0.56

-

-

-

23

21

-

-

-

Total

25,983

 

147,346

2,072

409,730

828,660

-

 

Proven and Probable Reserves

 

Tons

Silver

Gold

Lead

Zinc

Copper

Silver

Gold

Lead

Zinc

Copper

Asset

(000)

(oz/ton)

(oz/ton)

%

%

%

(000 oz)

(000 oz)

(Tons)

(Tons)

(Tons)

Greens Creek (2)

10,721

12.2

0.09

2.8

7.3

-

130,897

932

305,190

778,410

-

Lucky Friday (2)

5,571

14.4

-

9.1

4.0

-

80,321

-

505,740

223,520

-

Casa Berardi Open Pit (3)

17,675

-

0.07

-

-

-

-

1,257

-

-

-

Casa Berardi Underground (3)

2,952

-

0.16

-

-

-

-

461

-

-

-

San Sebastian (2)

100

8.8

0.08

-

-

-

881

8

-

-

-

Fire Creek (2,4)

59

0.9

0.92

-

-

-

51

54

-

-

-

Total

37,078

 

212,151

2,712

810,930

1,001,930

-

 

 

(1) The term “reserve” means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term “economically,” as used in the definition of reserve, means that profitable extraction or production has been established or analytically demonstrated to be viable and justifiable under reasonable investment and market assumptions. The term “legally,” as used in the definition of reserve, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Hecla must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Hecla’s current mine plans.

(2) Mineral reserves are based on $1300 gold, $14.50 silver, $0.90 lead, $1.15 zinc, unless otherwise stated. The NSR cut-off grades are $190/ton for Greens Creek, $216.19 for the 30 Vein and $230.98 for the Intermediate Veins at Lucky Friday, and $127/ton ($140/tonne) for underground and $90.72/ton ($100/tonne) for open pit reserves at San Sebastian.

(3) Mineral reserves are based on $1300 gold and a US$/CAN$ exchange rate of 1:1.35 Reserve diluted to an average of 34.7% to minimum width of 9.8 feet (3 m). The average cut-off grades at Casa Berardi are 0.105 oz/ton gold (3.49 g/tonne) for underground mineral reserves and 0.025 oz/ton gold (0.85 g/tonne) for open pit mineral reserves.

(4) Fire Creek mineral reserves are based on a cut-off grade of 0.433 gold equivalent oz/ton and incremental cut-off grade of 0.135 gold equivalent oz/ton. Unplanned dilution of 10% to 17% included depending on mining method.

 

* Totals may not represent the sum of parts due to rounding

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

8

 

 

Measured Resources

 

Tons

Silver

Gold

Lead

Zinc

Copper

Silver

Gold

Lead

Zinc

Copper

Asset

(000)

(oz/ton)

(oz/ton)

%

%

%

(000 oz)

(000 oz)

(Tons)

(Tons)

(Tons)

Greens Creek (5)

76

12.5

0.09

2.6

9.4

-

949

7

2,000

7,140

-

Lucky Friday (5,6)

8,060

7.5

-

4.8

2.6

-

60,788

-

385,040

210,730

-

Casa Berardi Open Pit (7)

193

-

0.02

-

-

-

-

4

-

-

-

Casa Berardi Underground (7)

1,841

-

0.15

-

-

-

-

273

-

-

-

San Sebastian (5,8)

-

-

-

-

-

-

-

-

-

-

-

Fire Creek (5,9)

47

0.7

0.92

-

-

-

34

43

-

-

-

Hollister (5,10)

103

3.6

0.57

-

-

-

376

59

-

-

-

Midas (5,11)

134

6.9

0.44

-

-

-

927

59

-

-

-

Heva (12)

5,480

-

0.06

-

-

-

-

304

-

-

-

Hosco (12)

33,070

-

0.04

-

-

-

-

1,296

-

-

-

Rio Grande Silver (13)

-

-

-

-

-

-

-

-

-

-

-

Star (14)

-

-

-

-

-

-

-

-

-

-

-

Total

49,004

 

63,073

2,044

387,040

217,870

-

 

 

Indicated Resources

 

Tons

Silver

Gold

Lead

Zinc

Copper

Silver

Gold

Lead

Zinc

Copper

Asset

(000)

(oz/ton)

(oz/ton)

%

%

%

(000 oz)

(000 oz)

(Tons)

(Tons)

(Tons)

Greens Creek (5)

8,569

11.7

0.1

2.8

8.1

-

100,187

828

242,010

691,750

-

Lucky Friday (5,6)

2,720

8.0

-

5.1

2.4

-

21,641

-

138,620

65,930

-

Casa Berardi Open Pit (7)

3,341

-

0.05

-

-

-

-

155

-

-

-

Casa Berardi Underground (7)

4,463

-

0.14

-

-

-

-

631

-

-

-

San Sebastian (5,8)

2,846

6.3

0.05

2.2 

3.3 

1.4 

17,952

155

30,300 

45,660 

19,900 

Fire Creek (5,9)

211

0.7

0.66

-

-

-

142

140

-

-

-

Hollister (5,10)

182

2.2

0.58

-

-

-

410

105

-

-

-

Midas (5,11)

616

5.0

0.37

-

-

-

3,064

229

-

-

-

Heva (12)

5,570

-

0.07

-

-

-

-

369

-

-

-

Hosco (12)

31,620

-

0.04

-

-

-

-

1,151

-

-

-

Rio Grande Silver (13)

516

14.8

-

2.1

1.1

-

7,620

-

10,760

5,820

-

Star (14)

1,126

2.9

-

6.2

7.4

-

3,301

-

69,900

83,410

-

Total

61,779

 

154,315

3,762

491,590 

892,570 

19,900 

 

 

Measured & Indicated Resources

 

Tons 

Silver

Gold

Lead

Zinc

Copper

Silver

Gold

Lead

Zinc

Copper

Asset

(000)

(oz/ton)

(oz/ton)

%

%

%

(000 oz)

(000 oz)

(Tons)

(Tons)

(Tons)

Greens Creek (5)

8,645

11.7

0.1

2.8

8.1

-

101,135

835

244,010

698,880

-

Lucky Friday (5,6)

10,780

7.6

-

4.9

2.6

-

82,428

-

523,670

276,660

-

Casa Berardi Open Pit (7)

3,534

-

0.04

-

-

-

-

158

-

-

-

Casa Berardi Underground (7)

6,304

-

0.14

-

-

-

-

904

-

-

-

San Sebastian (5,8)

2,846

6.3

0.05

2.2 

3.3 

1.4 

17,952

155

30,300 

45,660 

19,900 

Fire Creek (5,9)

257

0.7

0.71

-

-

-

176

182

-

-

-

Hollister (5,10)

285

2.8

0.58

-

-

-

786

164

-

-

-

Midas (5,11)

750

5.3

0.38

-

-

-

3,990

288

-

-

-

Heva (12)

11,050

-

0.06

-

-

-

-

672

-

-

-

Hosco (12)

64,690

-

0.04

-

-

-

-

2,447

-

-

-

Rio Grande Silver (13)

516

14.8

-

2.1

1.1

-

7,620

-

10,760

5,820

-

Star (14)

1,126

2.9

-

6.2

7.4

-

3,301

-

69,900

83,410

-

Total

110,782

 

217,388

5,805

878,640 

1,110,430 

19,900 

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

9

 

 

Inferred Resources

 

Tons

Silver

Gold

Lead

Zinc

Copper

Silver

Gold

Lead

Zinc

Copper

Asset

(000)

(oz/ton)

(oz/ton)

%

%

%

(000 oz)

(000 oz)

(Tons)

(Tons)

(Tons)

Greens Creek (5)

1,848

13.7

0.09

3.1

7.4

-

25,393

159

56,670

135,880

-

Lucky Friday (5,6)

3,050

8.6

-

6.2

2.7

-

26,155

-

190,500

82,250

-

Casa Berardi Open Pit (7)

11,724

                   -

0.04

-

-

-

-

498

-

-

-

Casa Berardi Underground (7)

2,485

-

0.19

-

-

-

-

471

-

-

-

San Sebastian (5,15)

3,518

6.3

0.04

1.7 

2.4 

0.9 

22,189

147

13,250 

19,200 

7,440 

Fire Creek (5,9)

543

0.5

0.51

-

-

-

295

278

-

-

-

Fire Creek - Open Pit (16)

74,584

0.1

0.03

-

-

-

5,232

2,178

-

-

-

Hollister (5,10,17)

466

2.7

0.4

-

-

-

1,247

185

-

-

-

Midas (5,11)

552

2.7

0.33

-

-

-

1,489

183

-

-

-

Heva (12)

4,210

-

0.08

-

-

-

-

350

-

-

-

Hosco (12)

7,650

-

0.04

-

-

-

-

314

-

-

-

Rio Grande Silver (18)

3,078

10.7

0.01

1.3

1.1

-

33,097

36

40,990

34,980

-

Star (14)

3,157

2.9

-

5.6

5.5

-

9,432

-

178,670

174,450

-

Monte Cristo (19)

913

0.3

0.14

-

-

-

271

131

-

-

-

Rock Creek (20)

100,086

1.5

-

-

-

0.7

148,736

-

-

-

658,680

Montanore (21)

112,185

1.6

-

-

-

0.7

183,346

-

-

-

759,420

Total

330,050

 

456,881

4,929

480,080 

446,760 

1,425,540 

 

Note: All estimates are in-situ except for the proven reserves at Greens Creek and San Sebastian which are in surface stockpiles. Resources are exclusive of reserves.

 

(5)      Mineral resources are based on $1500 gold, $21 silver, $1.15 lead, $1.35 zinc and $3.00 copper, unless otherwise stated. Cut-off grades are as above unless otherwise stated.

(6)      Measured and indicated resources from Gold Hunter and Lucky Friday vein systems are diluted and factored for expected mining recovery using NSR cut-off grades of $170.18 for the 30 Vein, $184.97 for the Intermediate Veins and $207.15 for the Lucky Friday Vein.

(7)      Measured, indicated and inferred resources are based on $1,500 gold and a US$/CAN$ exchange rate of 1:1.35 Underground resources are reported at a minimum mining width of 6.6 to 9.8 feet (2 m to 3 m). The average cut-off grades at Casa Berardi are 0.105 oz/ton gold (3.49 g/tonne) for underground mineral resources and 0.025 oz/ton gold (0.85 g/tonne) for open pit mineral resources.

(8)      Indicated resources reported at a minimum mining width of 5.9 feet (1.8 m) for Hugh Zone, Middle Vein, North Vein, and East Francine Vein and 4.9 feet (1.5 m) for Andrea Vein using a cut-off grade of $90.72/ton ($100/tonne). San Sebastian lead, zinc and copper grades are for 1,376,500 tons of indicated resource within the Middle Vein and the Hugh Zone of the Francine Vein.

(9)      Fire Creek mineral resources are reported at a gold equivalent cut-off grade of 0.306 oz/ton. The minimum mining width is defined as four feet or the vein true thickness plus two feet, whichever is greater.

(10) Hollister mineral resources are reported at a gold equivalent cut-off grade of 0.294 oz/ton. The minimum mining width is defined as four feet or the vein true thickness plus two feet, whichever is greater.

(11) Midas mineral resources are reported at a gold equivalent cut-off grade of 0.223 oz/ton. The minimum mining width is defined as four feet or the vein true thickness plus two feet, whichever is greater.

(12) Measured, indicated and inferred resources were estimated in by Goldminds Geoservices Inc. with effective date 12-July-2013, and are based on $1,300 gold and a US$/CAN$ exchange rate of 1:1. The resources are in-situ without dilution and material loss at a cut-off grade of 0.011 oz/ton gold (0.37 g/tonne) for open pit and 0.06 oz/ton gold (2.0 g/tonne) for underground.

       NI43-101 Technical Report, Mineral Resource Update, Heva-Hosco Gold Projects, Rouyn-Noranda, Quebec, Hecla Quebec, December 2013

     Prepared by: Claude Duplessis, Eng. Project Manager - GoldMinds Geoservices Inc.; Maxime Dupéré, P.Geo - SGS Canada Inc. (Geostat)

(13) Indicated resources reported at a minimum mining width of 6.0 feet for Bulldog; resources based on $26.5 Ag, $0.85 Pb, and $0.85 Zn and a cut-off grade of 6.0 silver equivalent oz/ton.

(14) Indicated and Inferred resources reported using $21 silver, $0.95 lead, $1.10 lead minimum mining width of 4.3 feet and a cut-off grade of $100/ton.

(15) Inferred resources reported at a minimum mining width of 5.9 feet (1.8 m) for Hugh Zone, Middle Vein, North Vein, and East Francine Vein and 4.9 feet (1.5 m) for Andrea Vein using a cut-off grade of $90.72/ton ($100/tonne).

    San Sebastian lead, zinc and copper grades are for 792,900 tons of inferred resource within the Middle Vein and the Hugh Zone of the Francine Vein.

(16) Inferred open-pit resources for Fire Creek calculated November 30, 2017 using gold and silver recoveries of 65% and 30% for oxide material and 60% and 25% for mixed oxide-sulfide material. Indicated Resources reclassified as Inferred for 2019.

     Open pit resources are calculated at $1400 gold and $19.83 silver and cut-off grade of 0.01 Au Equivalent oz/ton and is inclusive of 10% mining dilution and 5% ore loss. Open pit mineral resources exclusive of underground mineral resources.

       NI43-101 Technical Report for the Fire Creek Project, Lander County, Nevada; Effective Date March 31, 2018; prepared by Practical Mining LLC, Mark Odell, P.E. for Hecla Mining Company, June28, 2018

(17) Inferred resources for the Hatter Project at the Hollister Mine calculated using recoveries for gold and silver of 82.7% and 71.8% and an Au equivalent cut-off grade of 0.294 oz/ton

(18) Inferred resources reported at a minimum mining width of 6.0 feet for Bulldog and a cut-off grade of 6.0 equivalent oz/ton silver and 5.0 feet for Equity and North Amethyst vein at a cut-off grade of $50/ton and $100/ton; based on $1400 Au, $26.5 Ag, $0.85 Pb, and $0.85 Zn.

(19) Inferred resource reported at a minimum mining width of 5.0 feet; resources based on $1400 Au, $26.5 Ag using a 0.06 oz/ton gold cut-off grade.

(20) Inferred resource at Rock Creek reported at a minimum thickness of 15 feet and a cut-off grade of $24.50/ton NSR and adjusted given mining restrictions as defined by U.S. Forest Service, Kootenai National Forest in the June 2003 'Record of Decision, Rock Creek Project'.

(21) Inferred resource at Montanore reported at a minimum thickness of 15 feet and a cut-off grade of $24.50/ton NSR and adjusted given mining restrictions defined by U.S. Forest Service, Kootenai National Forest, Montana DEQ in December 2015 'Joint Final EIS, Montanore Project' and the February 2016 U.S Forest Service - Kootenai National Forest 'Record of Decision, Montanore Project'.

 

* Totals may not represent the sum of parts due to rounding

 

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

10

 

 

 

Table B – Assay Results – Q4 2019

 

Greens Creek (Alaska)

 

Zone

Drill Hole

Number

Drill Hole

Azm/Dip

Sample

From

(feet)

Sample

To (feet)

True

Width

(feet)

Silver

(oz/ton)

Gold

(oz/ton)

Zinc

(%)

Lead

(%)

Depth From

Mine Portal

(feet)

East Ore Definition

GC5326

63/-12

383.8

385.2

1.2

141.46

0.39

17.41

4.70

560

 

GC5327

63/0

400.0

402.5

2.4

24.06

0.21

14.68

4.60

633

 

GC5330

63/10

429.5

435.0

5.1

7.09

0.17

20.94

6.58

701

 

GC5332

63/-63

304.5

307.5

2.9

13.22

0.15

9.16

1.61

365

 

GC5341

63/-33

340.0

342.0

1.9

228.38

0.35

2.10

0.22

453

 

GC5345

63/-18

372.0

375.5

3.5

36.02

0.19

9.74

3.26

531

 

GC5346

63/-3

394.5

399.0

4.3

56.61

0.13

4.53

1.46

621

 

GC5348

68/8

417.0

424.0

6.4

10.39

0.58

13.22

4.56

686

 

GC5355

63/-52

330.2

332.8

2.6

8.95

0.08

17.58

3.64

375

 

GC5356

63/-71

310.5

313.4

2.9

15.61

0.11

8.85

3.51

343

 

GC5359

81/-60

311.3

314.1

2.8

42.16

0.19

6.03

0.92

356

 

GC5362

63/-49

322.5

324.0

1.5

16.85

0.10

17.15

3.57

387

200 South Definition

GC5328

149/-73

544.5

551.5

6.1

9.09

0.03

6.56

2.00

-1204

 

GC5331

95/-49

443.0

445.0

2.0

18.03

0.36

8.86

4.31

-1013

 

GC5335

111/-64

506.0

507.0

1.0

13.03

0.24

11.98

5.20

-1137

 

GC5335

111/-64

560.0

561.0

1.0

26.66

0.25

24.90

14.00

-1187

 

GC5340

172/-78

536.0

558.5

22.4

16.84

0.24

12.73

6.13

-1210

 

GC5344

152/-78

525.5

547.5

20.8

17.60

0.10

1.99

1.00

-1200

 

GC5354

21/-84

435.5

439.7

4.2

10.13

0.12

1.10

0.51

-1106

200 South Exploration

GC5289

176/-35

122.0

124.0

1.6

11.07

0.04

11.51

6.30

-1369

 

GC5329

205/-31

195.0

199.5

3.9

12.55

0.06

6.22

2.77

-1395

 

GC5337

203/-21

145.5

147.0

1.2

10.64

0.01

8.69

4.30

-1343

 

GC5337

203/-21

157.3

159.2

1.6

8.53

0.03

5.87

3.21

-1347

 

GC5337

203/-21

165.0

169.0

3.8

10.55

0.03

4.40

2.39

-1350

 

GC5337

203/-21

221.0

224.0

2.4

11.89

0.01

9.03

3.57

-1370

 

GC5337

203/-21

250.0

268.5

15.3

11.48

0.06

6.58

3.60

-1381

 

GC5343

191/-27

141.0

148.0

4.7

6.46

0.03

10.11

5.02

-1357

 

GC5343

191/-27

205.0

209.0

3.2

11.33

0.02

7.84

3.59

-1386

 

GC5343

191/-27

239.0

244.0

2.0

16.76

0.01

3.98

3.88

-1402

 

GC5351

177/-31

119.0

120.5

1.4

8.02

0.03

13.79

11.60

-1354

 

GC5351

177/-31

133.5

135.5

1.6

8.73

0.03

7.41

3.73

-1361

 

GC5351

177/-31

202.5

222.0

12.0

50.46

0.05

1.52

0.74

-1400

 

GC5360

177/-50

96.0

99.5

3.0

15.37

0.06

8.62

5.60

-1369

 

GC5360

177/-50

965.0

969.0

4.0

4.53

0.05

7.69

3.59

-2078

 

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

11

 

 

 

Casa Berardi (Quebec)

 

Zone

Drill Hole Number

Drill Hole

Section

Drill Hole

Azm/Dip

Sample

From

(feet)

Sample

To

(feet)

True

Width

(feet)

Gold

(oz/ton)

Depth From

Mine Surface

(feet)

West Mine 113-118 Area

CBP-0825

11573

322/-24

703.6

734.4

26.2

0.11

-3499

Upper Principal 119 Area

CBP-0794

11775

216/31

440.8

483.1

29.5

0.25

-1492

119

Including

216/31

474.6

483.1

5.9

0.42

-1483

119

CBP-0860

11955

4/-55

813.4

870.2

37.1

0.12

-3857

119

CBP-0863

11955

4/-40

716.7

736.0

14.4

0.16

-3675

Lower Principal 124-128 Area

CBP-0852

12810

175/-47

296.5

327.7

23.6

0.12

-1146

124

Including

175/-47

302.1

321.4

14.4

0.17

-1145

East Mine 148 Area

CBE-0187

14820

357/-27

1034.8

1049.6

13.1

0.18

-2062

148

CBE-0194

14820

355/-39

1143.4

1157.8

11.8

0.48

-2258

148

CBE-0195

14832

1/-25

1025.0

1035.5

9.5

0.22

-2022

148

CBE-0196

14790

352/-37

1036.5

1087.3

43.6

0.18

-2153

148

Including

352/-37

1036.5

1053.5

14.6

0.15

-2144

148

Including

352/-37

1072.6

1087.3

12.7

0.38

-2162

148

CBE-0197

14835

4/-28

1048.0

1067.6

17.1

0.32

-2073

148

Including

4/-28

1052.9

1057.8

4.3

0.53

-2071

148

Including

4/-28

1062.7

1067.6

4.3

0.47

-2076

148

CBE-0198

14760

346/-44

1178.2

1197.9

14.8

0.89

-2335

148

Including

346/-44

1189.0

1191.3

1.6

4.29

-2336

148

CBE-0199

14790

393/-44

1131.6

1162.8

21.6

0.33

-2286

148

Including

393/-44

1136.5

1141.4

3.3

0.86

-2281

148

CBE-0201

14835

358/-38

1102.7

1117.5

12.5

0.55

-2161

148

Including

358/-38

1106.0

1110.9

3.9

0.93

-2161

148

CBE-0210

14760

346/-49

1267.1

1306.4

29.8

0.47

-2474

148

Including

346/-49

1285.4

1289.0

2.6

1.88

-2474

148

Including

346/-49

1298.9

1303.8

3.6

1.22

-2483

148

CBE-0211

14875

352/-49

1221.8

1294.0

49.7

0.15

-2448

148

Including

352/-49

1284.1

1294.0

6.6

0.38

-2468

East Mine 160 Area

CBF-160-085

15990

352/-72

528.7

565.8

25.3

0.08

-533

160

Including

352/-72

528.7

538.7

7.2

0.22

-520

160

CBF-160-085

15990

352/-72

669.1

685.5

8.2

0.20

-653

160

CBF-160-092

16020

360/-75

678.6

793.8

113.2

0.11

-700

160

Including

360/-75

700.3

706.8

6.2

0.43

-671

160

CBF-160-094

16005

360/-55

328.0

351.0

22.0

0.11

-288

160

Including

360/-55

328.0

337.8

8.9

0.20

-283

160

CBF-160-094

16005

360/-55

654.4

660.9

6.6

0.17

-535

160

CBF-160-094

16005

360/-55

736.4

811.8

75.4

0.06

-623

160

Including

360/-55

774.1

795.4

21.3

0.12

-631

160

CBF-160-096

16020

360/-80

715.0

785.6

57.7

0.06

-747

160

Including

360/-80

773.1

785.6

9.8

0.19

-774

160

CBF-160-097

15945

360/-61

128.9

218.9

68.6

0.13

-166

160

Including

360/-61

144.3

196.8

40.7

0.18

-163

160

CBF-160-097

15945

360/-61

226.3

345.1

64.6

0.08

-264

160

Including

360/-61

337.0

345.1

5.9

0.42

-312

160

CBF-160-097

15945

360/-61

742.9

764.2

19.0

0.14

-656

160

CBF-160-098

15945

360/-73

469.0

678.5

193.5

0.09

-562

160

Including

360/-73

483.5

497.9

6.6

0.28

-484

160

Including

360/-63

192.2

206.6

8.5

0.22

-192

160

CBF-160-099

15900

360/-63

373.9

500.9

57.7

0.15

-404

160

Including

360/-63

434.6

463.1

13.1

0.35

-414

160

CBF-160-099

15900

360/-63

670.8

695.4

13.1

0.10

-620

160

CBF-160-099

15900

360/-63

783.9

815.4

27.2

0.09

-720

160

Including

360/-63

798.7

808.2

8.2

0.18

-723

160

CBF-160-100

15885

360/-68

674.0

841.3

160.7

0.05

-707

160

Including

360/-68

699.0

738.0

33.5

0.10

-672

160

CBF-160-101

15885

360/-77

175.5

185.3

4.3

0.15

-188

160

CBF-160-101

15885

360/-77

567.4

639.6

29.5

0.12

-594

160

CBF-160-101

15885

360/-77

659.3

780.6

54.1

0.15

-698

 

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

12

 

 

 

San Sebastian (Mexico)

 

Zone

Drill Hole

Number

Drill Hole

Azm/Dip

Sample

From

(feet)

Sample

To (feet)

True Width

(feet)

Silver

(oz/ton)

Gold

(oz/ton)

Depth From

Surface (feet)

EL TORO VEIN

SS-1875

75/-60

255.2

279.1

22.0

11.3

0.10

-213.8

EL TORO VEIN

SS-1882

75/-60

256.2

269.4

10.1

8.8

0.07

-212.3

EL TORO VEIN

SS-1883

75/-60

351.6

372.6

16.1

10.7

0.14

-298.7

EL TORO VEIN

SS-1892

75/-60

240.7

258.7

13.7

16.2

0.13

-202.1

EL TORO VEIN

SS-1896

75/-60

451.5

501.8

35.6

4.6

0.04

-400.9

EL TORO VEIN

Including

463.6

479.8

12.1

12.5

0.10

-396.6

EL TORO VEIN

SS-1899

75/-60

288.9

312.1

19.0

10.7

0.08

-246.4

EL TORO VEIN

Including

298.9

312.1

10.6

18.5

0.14

-250.7

EL TORO VEIN

SS-1903

75/-60

381.8

412.0

23.5

5.5

0.06

-331.4

EL TORO VEIN

Including

398.1

407.0

6.7

17.8

0.20

-336.3

EL TORO VEIN

SS-1907

75/-60

485.3

536.3

34.7

3.9

0.03

-429.8

EL TORO VEIN

Including

495.9

508.5

9.2

15.1

0.12

-422.3

EL TORO VEIN

SS-1908

75/-60

461.8

480.9

14.4

6.9

0.04

-396.9

EL TORO VEIN

Including

468.8

477.2

6.4

15.2

0.09

-398.4

EL TORO VEIN

SS-1910

75/-60

471.1

489.0

12.9

5.8

0.06

-405.1

EL TORO VEIN

Including

471.1

483.6

9.1

8.3

0.09

-402.7

EL TORO VEIN

SS-1914

75/-60

363.1

389.1

20.8

7.7

0.07

-312.9

EL TORO VEIN

Including

367.2

385.7

14.8

10.6

0.10

-313.3

EL TORO VEIN

SS-1925

75/-60

400.1

422.0

14.4

12.1

0.10

-349.0

EL TORO VEIN

SS-1932

75/-60

329.0

335.3

5.3

15.6

0.31

-262.6

EL TORO VEIN

SS-1936

75/-60

248.5

257.0

5.7

15.9

0.15

-213.4

EL TORO VEIN

SS-1940

75/-45

306.4

314.6

8.0

10.9

0.15

-194.7

EL TORO VEIN

SS-1962

75/-60

314.0

336.2

13.6

8.1

0.07

-294.5

EL TORO VEIN

SS-1963

75/-45

73.8

85.7

11.1

6.9

0.08

-53.8

EL TORO VEIN

Including

75.9

84.8

8.2

8.7

0.10

-54.3

EL TORO HW VEIN

SS-1902

75/-60

432.3

444.2

8.0

13.5

0.04

-372.9

 

 

Hecla Mining Company ● 1-800-432-5291 ● [email protected]

13

(Back To Top)