Silver reserves increase by 21% to more than
240 million ounces
Hecla Mining Company (NYSE:HL) today reported the highest silver
reserves in its more than 130-year history and provided an update
on its exploration programs during the fourth quarter 2022 and
plans for 2023.
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Figure 1: Plan map showing the location
of the three exploration targets drill tested in 2022 in relation
to the Bermingham and Flame and Moth deposits within the Keno Hill
Property. (Graphic: Business Wire)
RESERVES & RESOURCES HIGHLIGHTS
- Silver reserves increased to more than 240 million ounces with
the addition of Keno Hill’s almost 50 million silver ounces.
- Gold reserves decreased by 6% due to a higher cut-off grade at
Casa Berardi reflecting rising costs.
- Measured and indicated silver and gold resources increased 6%
with the inclusion of Keno Hill.
- Inferred resources are mostly unchanged with increases of 3%
for silver and 1% for gold.
EXPLORATION HIGHLIGHTS
- Exploration drilling at Keno Hill focused on initial drill
testing of new targets at the Silver King, Coral-Wigwam, and
Hector-Calumet confirmed the occurrence of favorable vein
structures and high-grade silver mineralization in all three
areas.
- Exploration and definition drilling at Greens Creek defined and
expanded mineralization on strike with strong assay results from
the Southwest Bench, 200 South, East, West, and Upper Plate ore
zones.
- Surface exploration drilling at Casa Berardi identified a
mineralized smoky quartz vein system in the 154 Zone while
underground drilling in the West Mine identified high grade gold in
the 118 Zone.
“Hecla’s silver reserves are an all-time high,” said Phillips S.
Baker, Jr., President, and CEO. “In the past 15 years, we have
replaced the 213 million ounces mined and yet have almost 5 times
the reserves we had at the start of 2008. That is over 400 million
ounces of silver that we have replaced and grown. We now have a
half dozen silver properties to explore, primarily in the US and
Canada, the most recent addition being the 88 square mile Keno Hill
project in the Yukon.”
Baker continued, “Keno Hill’s 2022 exploration results are
particularly remarkable with only three targets drilled that all
resulted in three meaningful, high-grade discoveries. This reflects
the quality of the land position and the knowledge of the
long-standing team who have taken their experience at Bermingham
and applied it to the new targets. These initial results exceed our
already high expectations for the exploration potential of the
district.”
“Hecla has the largest silver reserve in the United States, the
highest grade and largest primary silver reserve in Canada, the
best silver exploration potential in both countries, and we produce
40% of all the silver mined on in the United States and expect to
produce the same percentage of Canada’s production next year. With
silver’s importance in the energy transition to renewables, Hecla
is well positioned long into the future,” Baker said.
YEAR-END 2022 RESERVES AND RESOURCES
2022 proven and probable silver reserves were the highest in
Hecla’s history at more than 240 million ounces.
On a consolidated basis, the Company replaced the 14 million
ounces of silver produced during the year and increased proven and
probable reserves by 21%, or 41 million ounces over 2021. The
increase was primarily due to the acquisition of Keno Hill in
Canada’s Yukon Territory. The Company’s gold production of more
than 180,000 ounces was not replaced and proven and probable
reserves declined 6% to 2.6 million ounces due to cost increases
which increased the cut-off grade at Casa Berardi. Zinc production
was replaced, and reserves increased 4% to 944 thousand tons. Lead
production of 55 thousand tons was replaced with an increase of 7%
to 785 thousand tons of reserves.
Reserve metal price assumptions for 2022 were $17/oz silver,
$1,600/oz gold, $1.15/lb zinc, and $0.90/lb lead, unchanged from
2021.
Measured and indicated silver ounces increased 6% to 219 million
ounces with increases at Greens Creek and the addition of Keno Hill
which offset the decrease due to conversion of material to reserves
at Lucky Friday. Measured and indicated gold ounces also increased
6% to 3.7 million ounces due mostly to increases at Casa
Berardi.
Inferred silver resources increased 3% to 504 million ounces
while inferred gold resources increased 1% to 5.7 million ounces
due to increases at Greens Creek, Casa Berardi, and the inclusion
of Keno Hill.
Resource metal price assumptions for 2022 were $21/oz silver,
$1700/oz gold, $1.35/lb zinc and $1.15/lb lead, and $3/lb copper,
also unchanged from 2021.
Greens Creek
At Greens Creek, 2022 production was not replaced, where silver,
gold, zinc, and lead reserves decreased by 7%, 1%, 4%, and 6%,
respectively, over 2021 reserves. Lower margin material and
material adjacent to historically mined areas with unknown backfill
conditions was removed. A study is reviewing if some of this
material may be returned to reserve.
Measured and indicated silver resources at year-end 2022 were
109 million ounces, a 2% increase over 2021 due to drilling and
resource conversion. Inferred silver resources increased 5% from
exploration drilling to a total of 29 million ounces.
Casa Berardi
At Casa Berardi, mining depletion was not replaced, and gold
reserves decreased 10% to 1.6 million ounces due to increased costs
which increased cut-off grades.
Measured and indicated gold resources increased 19% to 1.3
million ounces due drilling as well as the cutoff grade converting
material from reserves. Inferred gold resources increased 4% from
exploration drilling.
Lucky Friday
At the Lucky Friday, mining of 4.8 million ounces of silver was
replaced, and proven and probable silver reserves are unchanged
from 2021 at 74.7 million ounces of silver. Proven and Probable
lead reserves increased 3% to 468 thousand tons and zinc reserves
increased 10% to 200 thousand tons.
Measured and indicated silver resources decreased 27% to 58
million ounces; lead and zinc measured and indicated resources
decreased 23% and 27%, respectively. Decreases in measured and
indicated resources are due to conversion to reserves (4.9 million
silver ounces, 39 thousand lead tons, and 28 thousand zinc tons)
and increased cut-off grades removing some material.
Inferred resources decreased year-over-year and include 31
million ounces of silver, a decrease of 25%; 225 thousand tons of
lead, a decrease of 28%; and 85 thousand tons of zinc, a decrease
of 35%. Decreases in inferred resources is mostly due to increased
costs and increased cut-off grades along the edges of the resources
and at the higher elevations of the 30 Vein. Drilling of inferred
resources on the 30 Vein also converted material to higher resource
classes and added 3 million ounces to reserve.
Keno Hill
The acquisition of Keno Hill added nearly 50 million silver
ounces to Hecla’s reserve base along with 53 thousand tons of lead
and 49 thousand tons of zinc. This is an increase of approximately
12 million silver ounces or 33% over the reserves identified at the
time of acquisition. The increase is due primarily to infill
drilling of the Deep Northeast Zone at Bermingham.
In addition to the increased reserves, Keno Hill added 32
million silver ounces to measured and indicated resources and 26
million silver ounces to inferred resources.
A breakdown of the Company’s reserves and resources is set out
in Table A at the end of this news release.
EXPLORATION AND PRE-DEVELOPMENT UPDATE
Exploration and pre-development expenses totaled $6.9 million
for the fourth quarter and $46.0 million for the year 2022.
Exploration Update for Fourth Quarter, 2022
Keno Hill, Yukon Territory
At Keno Hill, two surface core drills confirmed high-grade
silver mineralization at the Silver King, Coral-Wigwam, and
Hector-Calumet targets (Figure 1). Mineralization at all three
target areas are broad structural analogs to the nearby Bermingham
deposit representing a successful application of the ore control
model where northeast trending transverse structures intercept
east-northeast trending longitudinal structures. While most known
high-grade mineralization is hosted within the basal quartzite,
several of the mineralized intercepts at both Coral Wigwam and
Silver King are hosted above the favorable host. Also, the Silver
King intercepts are located on the longitudinal-oriented
structures. So, these results require a reevaluation of other
targets in the same setting.
Coral Wigwam: At Coral Wigwam, the Walleye Vein assay
results to date include:
- Drillhole K-22-0825 (Walleye): 101 oz/ton silver, 0.1% zinc,
0.1% lead, and 0.3% copper over 7.3 feet estimated true width. This
intercept includes a narrower zone grading 2,522 oz/ton silver,
0.7% zinc, 0.3% lead, and 8.1% copper over 0.3 feet estimated true
width.
Hector Calumet: The new Chance Vein was discovered 300
feet to the southeast of the historical 96 million ounce silver
producing Hector-Calumet mine. Assay results to date include:
- Drillhole K-22-0829 (Chance): 5 oz/ton silver, 0.5% zinc, and
1.1% lead over 24.6 feet estimated true width. This intercept
includes a narrower zone grading 9.6 oz/ton silver, 0.8% zinc, and
2.5% lead over 10.5 feet estimated true width.
- Drillhole K-22-0834 (Chance): 22 oz/ton silver, 6.4% zinc, and
2.3% lead over 2.3 feet estimated true width.
- Drillhole K-22-0837 (Chance): 10.5 oz/ton silver, 4.0% zinc,
and 1.1% lead over 11.0 feet estimated true width including 47.2
oz/ton silver, 33.0% zinc, and 0.7% lead over 1.1 feet estimated
true width.
Silver King: At Silver King, multiple mineralized veins
were intersected including the Adam, No. 5, No. 6, and new No. 6
Splay veins. Significantly, many of these highly mineralized
intervals are hosted in historically less productive portions of
the Keno Hill stratigraphy that overlay and are projected into the
more favorable basal quartzite. Assay results to date include:
- Drillhole K-22-0804 (Adam): 38.8 oz/ton silver, 4.7% zinc, and
1.4% lead over 1.9 feet estimated true width.
- Drillhole K-22-0810 (No. 6 Splay): 7.9 oz/ton silver, 0.9%
zinc, and 0.2% lead over 16.3 feet estimated true width including:
- 31.6 oz/ton silver, 1.9% zinc, and 0.3% lead over 3.0 feet
estimated true width.
- Drillhole K-22-0810 (No. 6): 19.6 oz/ton silver, 0.2% zinc, and
0.9% lead over 11.7 feet estimated true width including:
- 52.7 oz/ton silver, 0.3% zinc, and 2% lead over 4 feet
estimated true width.
- Drillhole K-22-0812 (No. 5): 11 oz/ton silver, and 0.8% lead
over 5.5 feet.
Detailed complete drill assay highlights can be found in Table B
at the end of the release.
Greens Creek, Alaska
At Greens Creek, four underground drills converted resources in
the 200 South, East, Gallagher, and West ore zones as well as
exploration on the southern extension of the West and Gallagher
Fault Block zones (Figure 2). Additionally, two
helicopter-supported programs drilled the Upper Plate Zone and
Lil’Sore to the northwest of the mine. Assay results were received
for the Southwest Bench, 200 South, East, West, and Upper Plate
areas and results continue to confirm and expand mineral zones but
were not yet included in the reserve calculation.
Upper Plate Zone: Surface exploration drilling expanded
mineralization 40 feet to the west from previous mineralized
intercepts. Highlights from this drilling include:
- 8.9 oz/ton silver, 0.14 oz/ton gold, 12.1% zinc and 4.8% lead
over 12.6 feet.
- 11.9 oz/ton silver, 0.17 oz/ton gold, 17.3% zinc, and 7.8% lead
over 7.6 feet.
200 South Zone: Drilling tested 200 feet of strike length
and infilled between existing drill intercepts. Highlights
include:
- 35.0 oz/ton silver, 0.56 oz/ton gold, 9.2% zinc, and 4.5% lead
over 13.0 feet.
East Zone: Drilling infilled over a strike length of 250
feet and tested the lower portion of the East Zone. Highlights
include:
- 15.9 oz/ton silver, 0.10 oz/ton gold, 15.6% zinc, and 7.7% lead
over 15.8 feet.
- 26.2 oz/ton silver, 0.23 oz/ton gold, 10.2% zinc, and 3.6% lead
over 4.0 feet.
- 18.7 oz/ton silver, 0.10 oz/ton gold, 7.5% zinc, and 3.3% lead
over 16.4 feet.
Detailed complete drill assay highlights can be found in Table B
at the end of the release.
Casa Berardi, Quebec
At Casa Berardi, up to six underground core drills and two
surface core drills were focused on definition and exploration
drilling in multiple zones and targets in the West Mine, Principal
Mine, and East Mine areas.
West Mine: Underground drilling targeted the 113 and 118
zones. Highlights include:
- 113 Zone: 0.12 oz/ton gold over 12.1 feet, including 0.21
oz/ton gold over 6.2 feet.
- 113 Zone: 0.11 oz/ton gold over 12.5 feet.
- 118 Zone: 0.39 oz/ton gold over 10.8 feet, including 3.32
oz/ton gold over 1.0 feet.
- 118 Zone: 0.29 oz/ton gold over 12.5 feet, including 1.14
oz/ton gold over 3.0 feet.
East Mine: Underground drilling targeted the 148-01 lens
while surface exploration drilling targeted the 152 Zone and
discovered the 154 zone. This new zone is near the contact between
a greywacke sedimentary unit and an andesitic lava flow with up to
5% arsenopyrite and is open in all directions. Highlights
include:
- 148 Zone: 0.27 oz/ton gold over 20.3 feet.
- 154 Zone: 0.15 oz/ton gold over 15.5 feet.
More complete drill assay highlights can be found in Table B at
the end of the release.
2023 Exploration Program
Exploration and pre-development expenditures are anticipated to
be $32.5 million in 2023, with about 70% of exploration
expenditures being deployed at Greens Creek (26%), Casa Berardi
(21%), Keno Hill (14%) and Aurora (6%).
At Greens Creek, underground definition drilling will
focus on the 200 South, Upper Plate, 9A, West, Northwest West,
Southwest, and East ore zones while underground exploration will
focus on the 200 South, Gallagher, Gallagher Fault Block zones, the
northern end of the East Ore Zone and up dip from the northern end
of the West Ore Zone. Surface exploration drilling will focus on
the Upper Plate Zone, the western part of the Gallagher Fault zone,
the eastern part of the East Zone and the Lil’Sore prospect, which
is the most anomalous and untested target away from the mine.
At Keno Hill, underground definition drilling will be at
the Bermingham Bear Zone and the Flame & Moth Lightning Zone
while surface exploration will focus on expanding the high-grade
veins at the Hector-Calumet, Coral-Wigwam and Silver King target
areas, the upflow zones below the Bermingham NE Zone and the
untested zones above the Bermingham Deep NE Zone.
At Casa Berardi, underground definition drilling will be
at the 118, 121, 123, 146 and 148 Zones. Exploration drilling will
be on the high-grade extensions of the Lower Inter, 113-116, 118,
123, 134, 146, 148 and 152 to 157 zones. Regional surface
exploration drilling will test anomalies from the sonic drilling
program in the east and west block.
Nevada exploration is primarily at Aurora following up on
Juniata and Chesco and drill testing the Sawtooth Ridge and
Humboldt Offset target.
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE:HL) is the largest
silver producer in the United States. In addition to operating
mines in Alaska and Idaho, and Quebec, Canada, the Company owns a
number of exploration and pre-development properties in world-class
silver and gold mining districts throughout North America.
Cautionary Statements Regarding
Estimates and Forward-Looking Statements, Including 2023
Outlook
Statements made or information provided in this news release
that are not historical facts are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are intended to be covered by the safe harbor
created by such sections and other applicable laws, and
"forward-looking information" within the meaning of Canadian
securities laws. When a forward-looking statement expresses or
implies an expectation or belief as to future events or results,
such expectation or belief is expressed in good faith and believed
to have a reasonable basis. However, such statements are subject to
risks, uncertainties and other factors, which could cause actual
results to differ materially from future results expressed,
projected or implied by the forward-looking statements.
Forward-looking statements often address our expected future
business and financial performance and financial condition and
often contain words such as “anticipate,” “intend,” “plan,” “will,”
“could,” “would,” “estimate,” “should,” “expect,” “believe,”
“project,” “target,” “indicative,” “preliminary,” “potential” and
similar expressions. Forward-looking statements in this news
release may include, without limitation: (i) Keno Hill will be in
consistent production in 2023; (ii) the Company has the potential
to be the largest silver producer in the U.S. and Canada; (iii) the
Company will be able to achieve mine-specific and Company-wide 2023
estimates of future production; (iv) Exploration and
pre-development spend for 2023 will be in line with guidance and
deployed between projects and properties; and (iv) Lucky Friday
throughput expected to increase in the future. Estimates or
expectations of future events or results are based upon certain
assumptions, which may prove to be incorrect, which could cause
actual results to differ from forward-looking statements. Such
assumptions, include, but are not limited to: (i) there being no
significant change to current geotechnical, metallurgical,
hydrological and other physical conditions; (ii) permitting,
development, operations and expansion of the Company’s projects
being consistent with current expectations and mine plans; (iii)
political/regulatory developments in any jurisdiction in which the
Company operates being consistent with its current expectations;
(iv) certain price assumptions for gold, silver, lead and zinc; (v)
prices for key supplies being approximately consistent with current
levels; (vi) the accuracy of our current mineral reserve and
mineral resource estimates; (vii) 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; (viii) sufficient workforce is
available and trained to perform assigned tasks; (ix) weather
patterns and rain/snowfall within normal seasonal ranges so as not
to impact operations; (x) relations with interested parties,
including Native Americans, remain productive; and (xi) factors do
not arise that reduce available cash balances.
In addition, material risks that could cause actual results to
differ from forward-looking statements include but are not limited
to: (i) gold, silver and other metals price volatility; (ii)
operating risks; (iii) currency fluctuations; (iv) increased
production costs and variances in ore grade or recovery rates from
those assumed in mining plans; (v) community relations; and (vi)
litigation, political, regulatory, labor and environmental risks.
For a more detailed discussion of such risks and other factors, see
the Company's 2021 Form 10-K filed on February 22, 2022, and Form
10-Q filed on August 5, 2022 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
This news release uses the terms “mineral resources”, “measured
mineral resources”, “indicated mineral resources” and “inferred
mineral resources”. Mineral resources that are not mineral reserves
do not have demonstrated economic viability. You should not assume
that all or any part of measured or indicated mineral resources
will ever be converted into mineral reserves. Further, inferred
mineral resources have a great amount of uncertainty as to their
existence and as to whether they can be mined legally or
economically, and an inferred mineral resource may not be
considered when assessing the economic viability of a mining
project, and may not be converted to a mineral reserve. On October
31, 2018, the SEC adopted new mining disclosure rules (“S-K 1300”)
that is more closely aligned with current industry and global
regulatory practices and standards, including National Instrument
43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)
which we comply with because we also are a “reporting issuer” under
Canadian securities laws. While S-K 1300 is more closely aligned
with NI 43-101 than the prior SEC mining disclosure rules, there
are some differences. NI 43-101 is a rule developed by the Canadian
Securities Administrators, which established standards for all
public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Unless otherwise
indicated, all resource and reserve estimates contained in this
press release have been prepared in accordance with NI 43-101, as
well as S-K 1300.
Qualified Person (QP)
Kurt D. Allen, MSc., CPG, VP - Exploration of Hecla Mining
Company and Keith Blair, MSc., CPG, Chief Geologist of Hecla
Limited, who serve as a Qualified Person under S-K 1300 and NI
43-101, supervised the preparation of the scientific and technical
information concerning Hecla’s mineral projects in this news
release. Technical Report Summaries (each a “TRS”) for each of the
Company’s material properties are filed as exhibits 96.1, 96.2 and
96.3 to the Company’s Annual Report on Form 10-K for the year ended
December 31, 2021 and are available at www.sec.gov. Information
regarding data verification, surveys and investigations, quality
assurance program and quality control measures and a summary of
analytical or testing procedures for (i) the Greens Creek Mine are
contained in its TRS and in a NI 43-101 technical report titled
“Technical Report for the Greens Creek Mine” effective date
December 31, 2018, (ii) the Lucky Friday Mine are contained in its
TRS and in its technical report titled “Technical Report for the
Lucky Friday Mine Shoshone County, Idaho, USA” effective date April
2, 2014, (iii) Casa Berardi are contained in its TRS and in its
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, and (iv) 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 each TRS and the 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 are contained in technical reports prepared for
Klondex Mines Ltd. for (i) the Fire Creek Mine (technical report
dated March 31, 2018), (ii) the Hollister Mine (technical report
dated May 31, 2017, amended August 9, 2017), and (iii) the Midas
Mine (technical report dated August 31, 2014, amended April 2,
2015). Copies of these technical reports are available under
Hecla’s profile 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.
TABLE A
Mineral Reserves – 12/31/2022
(1)
Proven Reserves (1)
Asset
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
%
Zinc
%
Silver
(000 oz)
Gold
(000 oz)
Lead
Tons
Zinc
Tons
Greens Creek (2,3)
7
16.1
0.07
2.3
5.4
108
0.4
150
360
Lucky Friday (2,4)
4,734
13.8
-
8.6
3.7
64,638
-
404,160
174,510
Casa Berardi Underground (2,5)
552
-
0.17
-
-
-
95
-
-
Casa Berardi Open Pit (2,5)
4,410
-
0.09
-
-
-
417
-
-
Keno Hill (2,6)
-
-
-
-
-
-
-
-
-
Total
9,703
64,746
512
404,310
174,870
Probable Reserves (7)
Asset
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
%
Zinc
%
Silver
(000 oz)
Gold
(000 oz)
Lead
(Tons)
Zinc
(Tons)
Greens Creek (2,3)
10,668
10.9
0.09
2.5
6.5
116,748
935
264,600
694,800
Lucky Friday (2,4)
840
12.8
-
8.1
3.2
9,978
-
63,510
25,030
Casa Berardi Underground (2,5)
989
-
0.17
-
-
-
166
-
-
Casa Berardi Open Pit (2,5)
12,434
-
0.08
-
-
-
936
-
-
Keno Hill (2,6)
2,197
22.5
0.01
2.4
2.2
49,473
13
52,520
49,320
Total
27,128
176,199
2,050
380,630
769,150
Proven and Probable
Reserves
Asset
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
%
Zinc
%
Silver
(000 oz)
Gold
(000 oz)
Lead
(Tons)
Zinc
(Tons)
Greens Creek (2,3)
10,675
10.9
0.09
2.5
6.5
116,856
935
264,750
695,160
Lucky Friday (2,4)
5,574
13.4
-
8.4
3.6
74,616
-
467,670
199,530
Casa Berardi Underground (2,5)
1,541
-
0.17
-
-
-
261
-
-
Casa Berardi Open Pit (2,5)
16,844
-
0.08
-
-
-
1,353
-
-
Keno Hill (2,6)
2,197
22.5
0.01
2.4
2.2
49,473
13
52,520
49,320
Total
36,829
240,945
2,562
784,940
944,020
(1)
The term “reserve” means an estimate of
tonnage and grade or quality of indicated and measured mineral
resources that, in the opinion of the qualified person, can be the
basis of an economically viable project. More specifically, it is
the economically mineable part of a measured or indicated mineral
resource, which includes diluting materials and allowances for
losses that may occur when the material is mined or extracted. The
term “proven reserves” means the economically mineable part of a
measured mineral resource and can only result from conversion of a
measured mineral resource. See footnotes 8 and 9 below.
(2)
Mineral reserves are based on $17/oz
silver, $1600/oz gold, $0.90/lb lead, $1.15/lb zinc, unless
otherwise stated. All Mineral Reserves are reported in-situ with
estimates of mining dilution and mining loss.
(3)
The reserve NSR cut-off values for Greens
Creek are $210/ton for all zones except the Gallagher Zone at
$215/ton; metallurgical recoveries (actual 2022): 81% for silver,
72% for gold, 82% for lead, and 89% for zinc.
(4)
The reserve NSR cut-off values for Lucky
Friday are $241.34/ton for the 30 Vein and $268.67/ton for the
Intermediate Veins; metallurgical recoveries (actual 2022): 95% for
silver, 95% for lead, and 88% for zinc
(5)
The average reserve cut-off grades at Casa
Berardi are 0.12 oz/ton gold underground and 0.04 oz/ton gold for
open pit. Metallurgical recovery (actual 2022): 87% for gold;
US$/CAN$ exchange rate: 1:1.3.
(6)
The reserve NSR cut-off value at Keno Hill
is $244.24/ton (CAN$350/tonne), Metallurgical recovery: 93% for
silver, 25% for gold, 93% for lead, 72% for zinc; US$/CAN$ exchange
rate: 1:1.3
(7)
The term “probable reserves” means the
economically mineable part of an indicated and, in some cases, a
measured mineral resource. See footnotes 9 and 10 below.
Totals may not represent the sum of parts
due to rounding.
Mineral Resources – 12/31/2022
(8)
Measured Resources (9)
Asset
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
%
Zinc
%
Copper
%
Silver
(000 oz)
Gold
(000 oz)
Lead
(Tons)
Zinc
(Tons)
Copper
(Tons)
Greens Creek (12,13)
-
-
-
-
-
-
-
-
-
-
-
Lucky Friday (12,14)
6,237
7.8
-
5.4
2.6
-
48,551
-
335,850
161,000
-
Casa Berardi Underground (12,15)
2,440
-
0.22
-
-
-
-
530
-
-
-
Casa Berardi Open Pit (12,15)
483
-
0.04
-
-
-
-
20
-
-
-
Keno Hill (12,16)
-
-
-
-
-
-
-
-
-
-
-
San Sebastian - Oxide (17)
-
-
-
-
-
-
-
-
-
-
-
San Sebastian - Sulfide (17)
-
-
-
-
-
-
-
-
-
-
-
Fire Creek (18,19)
-
-
-
-
-
-
-
-
-
-
-
Hollister (18,20)
18
4.9
0.59
-
-
-
87
10
-
-
-
Midas (18,21)
2
7.6
0.68
-
-
-
14
1
-
-
-
Heva (22)
-
-
-
-
-
-
-
-
-
-
-
Hosco (22)
-
-
-
-
-
-
-
-
-
-
-
Star (12,23)
-
-
-
-
-
-
-
-
-
-
-
Total
9,180
48,652
561
335,850
161,000
-
Indicated Resources
(10)
Asset
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
%
Zinc
%
Copper
%
Silver
(000 oz)
Gold
(000 oz)
Lead
(Tons)
Zinc
(Tons)
Copper
(Tons)
Greens Creek (12,13)
8,421
12.9
0.10
2.9
8.0
-
108,717
810
245,990
675,740
-
Lucky Friday (12,14)
1,194
8.0
-
5.4
2.2
-
9,581
-
64,390
26,200
-
Casa Berardi Underground (12,15)
3,870
-
0.17
-
-
-
-
660
-
-
-
Casa Berardi Open Pit (12,15)
1,323
-
0.04
-
-
-
-
48
-
-
-
Keno Hill (12,16)
4,061
8.0
0.007
1.0
4.0
-
32,288
29
39,540
163,130
-
San Sebastian - Oxide (17)
1,453
6.5
0.09
-
-
-
9,430
135
-
-
-
San Sebastian - Sulfide (17)
1,187
5.5
0.01
1.9
2.9
1.2
6,579
16
22,420
34,100
14,650
Fire Creek (18,19)
112
1.1
0.53
-
-
-
122
59
-
-
-
Hollister (18,20)
70
1.9
0.58
-
-
-
130
40
-
-
-
Midas (18,21)
76
5.7
0.42
-
-
-
430
32
-
-
-
Heva (22)
1,266
-
0.06
-
-
-
-
76
-
-
-
Hosco (22)
29,287
-
0.04
-
-
-
-
1,202
-
-
-
Star (12,23)
1,068
3.0
-
6.4
7.7
-
3,177
-
67,970
82,040
-
Total
53,388
170,454
3,107
440,310
981,210
14,650
Measured & Indicated
Resources
Asset
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
%
Zinc
%
Copper
%
Silver
(000 oz)
Gold
(000 oz)
Lead
(Tons)
Zinc
(Tons)
Copper
(Tons)
Greens Creek (12,13)
8,421
12.9
0.10
2.9
8.0
-
108,717
810
245,990
675,740
-
Lucky Friday (12,14)
7,431
7.8
-
5.4
2.5
-
58,132
-
400,240
187,200
-
Casa Berardi Underground (12,15)
6,310
-
0.19
-
-
-
-
1,190
-
-
-
Casa Berardi Open Pit (12,15)
1,806
-
0.04
-
-
-
-
67
-
-
-
Keno Hill (12,16)
4,061
8.0
0.007
1.0
4.0
-
32,288
29
39,540
163,130
-
San Sebastian - Oxide (17)
1,453
6.5
0.09
-
-
-
9,430
135
-
-
-
San Sebastian - Sulfide (17)
1,187
5.5
0.01
1.9
2.9
1.2
6,579
16
22,420
34,100
14,650
Fire Creek (18,19)
112
1.1
0.53
-
-
-
122
59
-
-
-
Hollister (18,20)
88
2.5
0.58
-
-
-
217
51
-
-
-
Midas (18,21)
78
5.7
0.43
-
-
-
444
33
-
-
-
Heva (22)
1,266
-
0.06
-
-
-
-
76
-
-
-
Hosco (22)
29,287
-
0.04
-
-
-
-
1,202
-
-
-
Star (12,23)
1,068
3.0
-
6.4
7.7
-
3,177
-
67,970
82,040
-
Total
62,568
219,106
3,668
776,160
1,142,210
14,650
Inferred Resources
(11)
Asset
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
%
Zinc
%
Copper
%
Silver
(000 oz)
Gold
(000 oz)
Lead
(Tons)
Zinc
(Tons)
Copper
(Tons)
Greens Creek (12,13)
2,383
12.1
0.07
2.8
6.9
-
28,949
178
67,400
164,080
-
Lucky Friday (12,14)
3,592
8.7
-
6.3
2.4
-
31,264
-
224,670
84,700
-
Casa Berardi Underground(12,15)
2,221
-
0.19
-
-
-
-
430
-
-
-
Casa Berardi Open Pit (12,15)
7,828
-
0.05
-
-
-
-
389
-
-
-
Keno Hill (12,16)
2,441
10.4
0.003
0.9
2.1
-
25,478
8
22,380
51,000
-
San Sebastian - Oxide (17)
3,490
6.4
0.05
-
-
-
22,353
182
-
-
-
San Sebastian - Sulfide (17)
385
4.2
0.01
1.6
2.3
0.9
1,606
5
6,070
8,830
3,330
Fire Creek (18,19)
765
0.5
0.51
-
-
-
394
392
-
-
-
Fire Creek - Open Pit (24)
74,584
0.1
0.03
-
-
-
5,232
2,178
-
-
-
Hollister (18,20)
642
3.0
0.42
-
-
-
1,916
273
-
-
-
Midas (18,21)
1,232
6.3
0.50
-
-
-
7,723
615
-
-
-
Heva (22)
2,787
-
0.08
-
-
-
-
216
-
-
-
Hosco (22)
17,726
-
0.04
-
-
-
-
663
-
-
-
Star (12,23)
2,851
3.1
-
5.9
5.9
-
8,795
-
168,180
166,930
-
San Juan Silver (12,25)
2,570
11.3
0.01
1.4
1.1
-
38,203
34
49,400
39,850
-
Monte Cristo (26)
913
0.3
0.14
-
-
-
271
131
-
-
-
Rock Creek (12,27)
100,086
1.5
-
-
-
0.7
148,736
-
-
-
658,680
Montanore (12,28)
112,185
1.6
-
-
-
0.7
183,346
-
-
-
759,420
Total
338,681
504,266
5,694
538,100
515,390
1,421,430
Note: All estimates are in-situ except
for the proven reserves at Greens Creek which are in surface
stockpiles. Mineral resources are exclusive of reserves.
(8) The term "mineral resources" means a
concentration or occurrence of material of economic interest in or
on the Earth's crust in such form, grade or quality, and quantity
that there are reasonable prospects for economic extraction. A
mineral resource is a reasonable estimate of mineralization, taking
into account relevant factors such as cut-off grade, likely mining
dimensions, location or continuity, that, with the assumed and
justifiable technical and economic conditions, is likely to, in
whole or in part, become economically extractable. It is not merely
an inventory of all mineralization drilled or sampled.
(9) The term "measured resources" means
that part of a mineral resource for which quantity and grade or
quality are estimated on the basis of conclusive geological
evidence and sampling. The level of geological certainty associated
with a measured mineral resource is sufficient to allow a qualified
person to apply modifying factors in sufficient detail to support
detailed mine planning and final evaluation of the economic
viability of the deposit. Because a measured mineral resource has a
higher level of confidence than the level of confidence of either
an indicated mineral resource or an inferred mineral resource, a
measured mineral resource may be converted to a proven mineral
reserve or to a probable mineral reserve.
(10) The term "indicated resources" means
that part of a mineral resource for which quantity and grade or
quality are estimated on the basis of adequate geological evidence
and sampling. The level of geological certainty associated with an
indicated mineral resource is sufficient to allow a qualified
person to apply modifying factors in sufficient detail to support
mine planning and evaluation of the economic viability of the
deposit. Because an indicated mineral resource has a lower level of
confidence than the level of confidence of a measured mineral
resource, an indicated mineral resource may only be converted to a
probable mineral reserve.
(11) The term "inferred resources" means
that part of a mineral resource for which quantity and grade or
quality are estimated on the basis of limited geological evidence
and sampling. The level of geological uncertainty associated with
an inferred mineral resource is too high to apply relevant
technical and economic factors likely to influence the prospects of
economic extraction in a manner useful for evaluation of economic
viability. Because an inferred mineral resource has the lowest
level of geological confidence of all mineral resources, which
prevents the application of the modifying factors in a manner
useful for evaluation of economic viability, an inferred mineral
resource may not be considered when assessing the economic
viability of a mining project, and may not be converted to a
mineral reserve.
(12) Mineral resources are based on
$1700/oz gold, $21/oz silver, $1.15/lb lead, $1.35/lb zinc and
$3.00/lb copper, unless otherwise stated.
(13) The resource NSR cut-off values for
Greens Creek are $210/ton for all zones except the Gallagher Zone
at $215/ton; metallurgical recoveries (actual 2022): 81% for
silver, 72% for gold, 82% for lead, and 89% for zinc.
(14) The resource NSR cut-off values for
Lucky Friday are $200.57/ton for the 30 Vein, $227.90/ton for the
Intermediate Veins and $198.48/ton for the Lucky Friday Veins;
metallurgical recoveries (actual 2022): 95% for silver, 95% for
lead, and 88% for zinc.
(15) The average resource cut-off grades
at Casa Berardi are 0.11 oz/ton gold for underground and 0.034
oz/ton gold for open pit; metallurgical recovery (actual 2022): 87%
for gold; US$/CAN$ exchange rate: 1:1.3.
(16) The resource NSR cut-off value at
Keno Hill is $129.10/ton (CAN$185/tonne); using minimum width of
4.9 feet (1.5m); metallurgical recovery: 93% for silver, 25% for
gold, 93% for lead, 72% for zinc; US$/CAN$ exchange rate: 1:1.3
(17) Indicated resources for most zones at
San Sebastian based on $1500/oz gold, $21/oz silver, $1.15/lb lead,
$1.35/lb zinc and $3.00/lb copper using a cut-off grade of
$90.72/ton ($100/tonne); $1700/oz gold used for Toro, Bronco, and
Tigre zones. Metallurgical recoveries based on grade dependent
recovery curves: recoveries at the mean resource grade average 89%
for silver and 84% for gold for oxide material and 85% for silver,
83% for gold, 81% for lead, 86% for zinc, and 83% for copper for
sulfide material. Resources reported at a minimum mining width of
8.2 feet (2.5m) for Middle Vein, North Vein, and East Francine,
6.5ft (1.98m) for El Toro, El Bronco, and El Tigre, and 4.9 feet
(1.5 m) for Hugh Zone and Andrea.
(18) Mineral resources for Fire Creek,
Hollister and Midas are reported using $1500/oz gold and $21/oz
silver prices, unless otherwise noted. A minimum mining width is
defined as four feet or the vein true thickness plus two feet,
whichever is greater.
(19) Fire Creek mineral resources are
reported at a gold equivalent cut-off grade of 0.283 oz/ton.
Metallurgical recoveries: 90% for gold and 70% for silver.
(20) Hollister mineral resources,
including the Hatter Graben are reported at a gold equivalent
cut-off grade of 0.238 oz/ton. Metallurgical recoveries: 88% for
gold and 66% for silver
(21) Midas mineral resources are reported
at a gold equivalent cut-off grade of 0.237 oz/ton. Metallurgical
recoveries: 90% for gold and 70% for silver. A gold-equivalent
cut-off grade of 0.1 oz/ton and a gold price of $1700/oz used for
Sinter Zone with resources undiluted.
(22) Measured, indicated and inferred
resources at Heva and Hosco are based on $1,500/oz gold. Resources
are without dilution or material loss at a gold cut-off grade of
0.01 oz/ton for open pit and 0.088 oz/ton for underground.
Metallurgical recovery: Heva: 95% for gold, Hosco: 87.7% for
gold.
(23) Indicated and Inferred resources at
the Star property are reported using a minimum mining width of 4.3
feet and an NSR cut-off value of $150/ton; Metallurgical recovery:
93% for silver, 93% for lead, and 87% for zinc.
(24) 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 in 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,
June 28, 2018.
(25) Inferred resources reported at a
minimum mining width of 6.0 feet for Bulldog and an NSR cut-off
value of $175/ton and 5.0 feet for Equity and North Amethyst veins
at an NSR cut-off value of $100/ton; Metallurgical recoveries based
on grade dependent recovery curves; metal recoveries at the mean
resource grade average 89% silver, 74% lead, and 81% zinc for the
Bulldog and a constant 85% gold and 85% silver for North Amethyst
and Equity.
(26) Inferred resource at Monte Cristo
reported at a minimum mining width of 5.0 feet; resources based on
$1400 Au, $26.50 Ag using a 0.06 oz/ton gold cut-off grade.
Metallurgical recovery: 90% for gold and 90% silver.
(27) Inferred resource at Rock Creek
reported at a minimum thickness of 15 feet and an NSR cut-off value
of $24.50/ton; Metallurgical recoveries: 88% for silver and 92% for
copper. Resources adjusted based on mining restrictions as defined
by U.S. Forest Service, Kootenai National Forest in the June 2003
'Record of Decision, Rock Creek Project'.
(28) Inferred resource at Montanore
reported at a minimum thickness of 15 feet and an NSR cut-off value
of $24.50/ton NSR; Metallurgical recoveries: 88% for silver and 92%
copper. Resources adjusted based on mining restrictions as 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
TABLE B
Assay Results – Q4
2022
Keno Hill (Yukon Territory)
Zone
Drill Hole Number
Drillhole Azm/Incl
Sample From (feet)
Sample To (feet)
True Width (feet)
Silver (oz/ton)
Gold (oz/ton)
Zinc (%)
Lead (%)
Depth From Surface (feet)
Coral-Wigwam
K-22-0806
297/-57
513.3
514.3
0.7
6.0
0.0
0.1
0.2
-429
Coral-Wigwam
K-22-0809
310/-90
415.4
415.8
0.2
2.7
0.0
1.5
1.2
-415
Coral-Wigwam
K-22-0809
310/-90
473.9
475.6
0.8
7.5
0.0
0.1
0.1
-473
Coral-Wigwam
K-22-0820
295/-59
1078.7
1081.4
2.2
4.0
0.0
0.1
0.2
-915
Coral-Wigwam
K-22-0820
295/-59
1439.9
1442.3
1.9
1.1
0.0
0.0
0.0
-1207
Coral Wigwam
K-22-0825
275/-73
1520.4
1533.6
7.3
101.5
0.0
0.1
0.1
-1291
Coral Wigwam
Including
1525.6
1526.1
0.3
2522.1
0.0
0.7
0.3
-1303
Coral-Wigwam
K-22-0828
305/-67
1249.1
1256.6
5.0
4.9
0.0
0.4
0.3
-1146
Coral-Wigwam
K-22-0828
305/-67
1521.6
1525.9
3.2
2.9
0.0
0.1
0.0
-1396
Hector Calumet
K-22-0829
342/-67
1162.6
1193.7
24.6
5.0
0.0
0.5
1.1
-1161
Hector Calumet
Including
1162.6
1175.9
10.5
9.6
0.0
0.8
2.5
-1161
Hector Calumet
K-22-0832
331/-70
1664.0
1664.7
0.5
1.9
0.0
0.0
1.5
-1544
Hector Calumet
K-22-0834
312/-65
923.1
938.8
11.8
10.6
0.0
2.0
1.5
-845
Hector Calumet
Including
923.1
929.3
4.7
21.8
0.0
2.7
2.6
-845
Hector-Calumet
K-22-0834
312/-65
1762.1
1765.0
2.3
22.0
0.0
6.4
2.3
-1609
Hector-Calumet
Including
1763.9
1765.0
0.8
41.1
0.0
7.1
1.1
-1610
Hector Calumet
K-22-0834
312/-65
1837.3
1841.7
3.5
4.9
0.0
2.7
2.2
-1677
Hector Calumet
K-22-0836
300/-66
1778.6
1779.5
0.7
2.1
0.0
0.6
0.6
-1636
Hector Calumet
K-22-0837
293/-75
1211.0
1225.9
11.0
10.5
0.0
4.0
1.1
-1207
Hector Calumet
Including
1211.0
1212.4
1.1
47.2
0.0
33.0
0.7
-1207
Hector Calumet
Including
1223.1
1224.1
0.7
54.0
0.0
4.6
5.7
-1219
Hector Calumet
K-22-0837
293/-75
1357.6
1361.1
2.5
1.2
0.0
0.2
0.3
-1306
Silver King
K-22-0804
153/-51
260.9
268.1
1.9
38.8
0.0
4.7
1.4
-203
Silver King
Including
262.5
265.3
0.7
76.1
0.0
8.1
3.2
-204
Silver King
K-22-0804
153/-51
324.6
326.0
0.4
1.0
0.0
0.0
0.0
-249
Silver King
K-22-0804
153/-51
526.5
531.2
1.2
1.0
0.0
0.0
0.0
-399
Silver King
K-22-0804
153/-51
557.6
561.9
1.1
1.7
0.0
0.0
0.0
-422
Silver King
K-22-0804
153/-51
935.0
936.5
0.4
1.3
0.0
1.1
0.4
-699
Silver King
K-22-0808
315/-66
332.2
347.3
12.3
2.2
0.0
1.2
0.0
-304
Silver King
K-22-0808
315/-66
360.1
361.6
1.2
1.9
0.0
0.3
0.1
-329
Silver King
K-22-0810
305-/66.5
358.5
380.5
16.3
7.9
0.0
0.9
0.2
-325
Silver King
Including
374.7
378.8
3.0
31.6
0.0
1.9
0.3
-339
Silver King
K-22-0810
305-/66.5
389.2
405.0
11.7
19.6
0.0
0.2
0.9
-352
Silver King
Including
389.2
394.6
4.0
52.7
0.0
0.3
2.0
-352
Silver King
K-22-0810
305-/66.5
845.5
848.6
2.5
1.4
0.0
0.0
0.0
-757
Silver King
K-22-0810
305-/66.5
859.7
861.5
1.5
4.9
0.0
0.3
0.7
-769
Silver King
K-22-0810
305-/66.5
877.7
881.7
3.2
2.5
0.0
0.0
0.0
-785
Silver King
K-22-0810
305-/66.5
891.1
893.9
2.2
2.0
0.0
0.0
0.0
-797
Silver King
K-22-0812
300/-71
758.8
761.9
1.8
0.9
0.0
0.1
0.2
-718
Silver King
K-22-0812
300/-71
829.4
853.0
13.5
1.1
0.0
0.4
0.2
-784
Silver King
K-22-0812
300/-71
864.6
876.0
5.5
11.0
0.0
0.0
0.8
-817
Silver King
Including
864.6
867.6
1.4
33.1
0.0
0.0
0.1
-817
Silver King
K-22-0812
300/-71
964.6
981.4
10.8
2.3
0.0
0.0
0.0
-911
Silver King
K-22-0814
288/-80
862.3
944.9
37.1
1.1
0.0
0.0
0.0
-851
Silver King
K-22-0817
352/-64
365.7
369.7
3.0
5.4
0.0
0.7
0.2
-364
Silver King
K-22-0819
307/-74
569.4
582.5
7.8
5.4
0.0
0.0
1.3
-546
Silver King
Including
569.4
570.9
0.9
42.7
0.0
0.0
11.1
-546
Silver King
K-22-0819
307/-74
605.4
640.6
21.1
5.6
0.0
0.0
0.5
-580
Silver King
Including
605.4
606.7
0.8
33.5
0.0
0.0
1.4
-580
Silver Spoon
K-22-0824
306-/57
2097.8
2100.6
2.5
6.8
0.0
0.1
1.2
-1756
Silver Spoon
Including
2097.8
2098.2
0.4
35.3
0.0
0.5
7.3
-1756
Silver Spoon
K-22-0824
306-/57
2107.8
2108.7
0.8
33.0
0.0
0.0
0.0
-1764
Silver Spoon
K-22-0824
306-/57
2190.6
2191.5
0.7
3.5
0.0
0.9
0.2
-1835
Silver Spoon
K-22-0824
306-/57
2227.3
2228.2
0.7
5.2
0.0
0.3
0.1
-1866
Silver Spoon
K-22-0824
306-/57
2244.7
2249.7
4.0
3.2
0.0
0.5
0.4
-1881
Silver Spoon
K-22-0824
306-/57
2283.5
2285.3
1.5
1.6
0.0
0.2
0.1
-1914
Silver Spoon
K-22-0826
285/-68
2371.4
2388.5
9.7
1.1
0.0
0.3
0.2
-2164
Greens Creek (Alaska)
Zone
Drill Hole Number
Drill Hole Azm/Dip
Sample From (feet)
Sample To (feet)
Est. True Width (feet)
Silver (oz/ton)
Gold (oz/ton)
Zinc (%)
Lead (%)
Depth From Mine Portal (feet)
200S Exploration
GC5864
61.5/13.6
284.0
285.0
0.9
2.7
0.05
6.7
2.1
-1226
200S Exploration
GC5879
244/-7.2
242.0
244.2
2.2
5.0
0.01
5.6
2.8
-1331
200S Exploration
GC5879
244/-7.2
274.8
275.8
1.0
4.3
0.04
9.8
4.1
-1337
200S Exploration
GC5883
186.9/-49.4
517.0
521.0
3.6
15.4
0.02
0.4
0.2
-1718
200S Definition
GC5872
238.5/-88.6
1094.0
1099.0
2.5
29.3
0.11
1.0
0.5
-2400
200S Definition
GC5849
243.4/-58.1
54.5
55.5
1.0
11.3
0.01
15.0
8.5
-1348
200S Definition
GC5849
243.4/-58.1
97.0
99.0
2.0
4.4
0.00
11.5
5.6
-1386
200S Definition
GC5849
243.4/-58.1
133.0
136.5
3.2
1.1
0.01
10.6
4.7
-1419
200S Definition
GC5849
243.4/-58.1
144.0
147.0
2.8
2.1
0.03
10.6
4.0
-1427
200S Definition
GC5849
243.4/-58.1
172.0
178.0
1.4
0.7
0.01
8.9
4.5
-1454
200S Definition
GC5849
243.4/-58.1
214.5
215.5
0.1
1.3
0.01
9.5
5.9
-1486
200S Definition
GC5854
243.4/-31.2
110.0
112.0
1.9
0.9
0.00
11.1
4.5
-1359
200S Definition
GC5872
238.5/-88.6
1509.0
1511.0
0.9
7.1
0.12
0.8
0.4
-2817
200S Definition
GC5894
227.6/19.2
172.7
183.0
10.3
16.0
0.23
7.5
3.6
-1711
200S Definition
GC5898
260.9/19.7
173.0
186.0
13.0
35.0
0.56
9.2
4.5
-1708
200S Definition
GC5898
260.9/19.7
197.0
209.0
12.0
3.0
0.05
7.7
2.2
-1702
200S Definition
GC5899
265.3/35.4
177.5
232.0
54.4
3.4
0.03
6.5
2.8
-1658
200S Definition
GC5903
272.5/51.6
183.5
184.5
0.9
9.3
0.07
11.7
5.3
-1624
200S Definition
GC5903
272.5/51.6
209.0
212.0
1.8
10.8
0.04
6.9
1.3
-1598
200S Definition
GC5906
285.9/42
199.5
201.0
1.5
16.6
0.22
2.0
0.6
-1637
200S Definition
GC5906
285.9/42
217.5
226.0
8.3
12.2
0.04
5.9
2.3
-1637
200S Definition
GC5906
285.9/42
251.0
294.8
42.9
14.4
0.10
1.2
0.6
-1637
200S Definition
GC5906
285.9/42
399.0
402.0
1.6
0.3
0.24
0.0
0.0
-1476
200S Definition
GC5910
305.4/49.1
230.5
237.5
6.5
11.8
0.09
1.0
0.5
-1576
200S Definition
GC5910
305.4/49.1
396.5
397.7
1.1
1.7
0.01
7.9
3.9
-1576
200S Definition
GC5918
315.3/56.6
266.0
267.0
0.8
3.5
0.05
7.0
3.5
-1542
East Exploration
GC5847
93.3/46.8
253.4
256.4
2.9
8.2
0.03
3.6
2.3
86
East Exploration
GC5853
142.5/27.4
362.9
365.3
2.4
14.5
0.11
7.9
4.2
73
East Exploration
GC5853
142.5/27.4
373.9
385.0
11.0
19.3
0.02
2.9
1.9
73
East Exploration
GC5857
13.4/44.8
270.0
288.7
16.4
18.7
0.10
7.5
3.3
61
East Exploration
GC5857
13.4/44.8
333.6
338.8
4.5
7.4
0.02
15.1
8.2
61
East Definition
GC5843
229/-60.4
453.5
458.0
3.7
7.4
0.09
14.7
4.9
138
East Definition
GC5848
27.9/-59
48.0
53.0
3.0
5.7
0.21
5.6
1.1
471
East Definition
GC5848
27.9/-59
84.0
85.5
0.9
30.4
0.04
27.2
1.2
471
East Definition
GC5866
28.3/-36.8
293.0
294.0
1.0
9.2
0.04
8.0
1.7
455
East Definition
GC5867
36.1/-22.3
306.0
308.0
1.6
15.2
0.07
6.6
4.3
517
East Definition
GC5868
43.6/-39.3
260.5
261.5
1.0
10.0
0.09
9.9
1.8
451
East Definition
GC5868
43.6/-39.3
278.5
287.5
8.8
8.1
0.07
1.4
0.6
451
East Definition
GC5868
43.6/-39.3
280.5
287.5
6.8
9.9
0.08
1.3
0.7
451
East Definition
GC5870
58.5/-32.9
297.0
299.5
2.5
15.6
0.06
26.9
13.2
470
East Definition
GC5871
58.5/-0.2
357.0
369.0
10.9
35.3
0.25
7.6
1.6
620
East Definition
GC5873
32.2/-62.2
285.0
286.0
1.0
3.4
0.01
0.7
6.2
376
East Definition
GC5877
102.1/-35.7
346.0
348.0
2.0
8.6
0.09
12.0
2.7
430
East Definition
GC5877
102.1/-35.7
354.0
355.0
1.0
7.7
0.15
4.0
1.0
430
East Definition
GC5881
86.7/12.6
512.5
517.0
3.0
182.6
0.16
1.2
0.4
748
East Definition
GC5884
68/15.9
456.0
461.5
4.6
42.8
0.43
15.4
8.2
762
East Definition
GC5885
67.8/20.8
467.0
470.0
2.4
19.0
0.08
6.2
2.7
776
East Definition
GC5889
63.4/-16.9
459.0
460.0
0.8
7.6
0.08
15.8
8.3
493
East Definition
GC5895
243.5/-65.2
384.5
388.0
3.5
27.1
1.01
17.7
5.3
306
East Definition
GC5902
63.4/-42.8
335.0
340.5
5.5
14.6
0.14
16.0
6.1
426
East Definition
GC5904
63.4/-21.8
306.0
312.0
6.0
8.8
0.07
3.6
1.1
532
East Definition
GC5904
63.4/-21.8
349.0
353.5
4.5
9.5
0.05
10.7
4.4
532
East Definition
GC5904
63.4/-21.8
375.0
376.0
1.0
10.8
0.08
24.1
8.2
532
East Definition
GC5905
63.4/-7.6
385.0
389.0
3.4
9.4
0.05
11.6
5.4
613
East Definition
GC5907
63.4/13.9
523.0
530.0
4.8
16.4
0.08
10.0
2.6
786
East Definition
GC5909
56.9/0.7
416.5
421.0
4.0
26.2
0.23
10.2
3.6
673
East Definition
GC5909
56.9/0.7
441.0
451.0
8.9
10.8
0.28
23.3
8.4
673
East Definition
GC5912
236.2/-62.2
547.0
571.5
15.8
15.9
0.10
15.6
7.7
791
East Definition
GC5916
52.3/13.9
532.0
536.0
3.2
11.2
0.22
1.7
0.5
779
East Definition
GC5919
45.4/6.2
484.5
485.5
0.8
16.1
0.13
11.3
5.0
699
East Definition
GC5922
47.5/16
569.0
570.0
0.6
8.7
0.10
18.8
5.6
812
East Definition
GC5923
68.9/18.1
530.0
542.0
9.5
10.3
0.08
3.1
1.1
798
East Definition
GC5925
69.4/9.7
480.3
488.1
6.1
11.2
0.04
8.5
3.6
732
East Definition
GC5927
74.7/14.8
537.5
542.5
3.5
15.5
0.19
13.0
5.2
775
East Definition
GC5928
76.1/6.9
429.7
437.2
5.3
11.0
0.02
7.3
2.2
706
East Definition
GC5928
76.1/6.9
475.5
478.5
2.1
10.4
0.09
10.7
3.8
706
East Definition
GC5928
76.1/6.9
491.0
497.5
4.6
22.5
0.68
2.1
1.2
706
SW Definition
GC5830
36/-21.3
210.0
214.0
4.0
5.9
0.09
1.6
1.0
-865
SW Definition
GC5830
36/-21.3
326.0
338.5
12.4
5.3
0.09
14.2
4.9
-865
SW Definition
GC5841
85.4/-22
129.0
140.0
11.0
15.4
0.05
7.7
4.9
-781
SW Definition
GC5844
81.5/-4
2.8
17.5
14.6
6.9
0.13
1.5
0.7
-730
SW Definition
GC5844
81.5/-4
165.0
172.3
6.4
42.7
0.18
7.7
3.9
-738
Upper Plate Exploration
PS0435
284/-75
678.0
679.0
1.0
0.4
0.00
7.5
4.9
7
Upper Plate Exploration
PS0435
284/-75
684.0
692.0
7.9
0.4
0.01
14.1
4.3
215
Upper Plate Exploration
PS0437
185/-57
371.0
385.5
12.6
8.9
0.14
12.1
4.8
314
Upper Plate Exploration
PS0438
201/-52
397.1
407.9
7.6
11.9
0.17
17.3
7.8
288
Upper Plate Exploration
PS0439
63/-51
280.0
284.0
3.5
7.9
0.01
4.2
1.8
405
Upper Plate Exploration
PS0439
63/-51
290.4
298.8
7.3
13.0
0.00
0.7
0.4
395
Upper Plate Exploration
PS0440
48/-87
253.0
254.0
1.0
43.9
0.01
0.0
0.0
432
West Definition
GC5929
63.4/-50.9
321.0
324.0
3.0
5.5
0.07
6.0
2.5
299
West Definition
GC5929
63.4/-50.9
329.5
331.0
1.5
9.1
0.05
3.5
1.0
299
West Definition
GC5929
63.4/-50.9
335.0
336.0
1.0
7.8
0.08
4.7
1.2
299
Casa Berardi (Quebec)
Zone
Drill Hole Number
Drill Hole Azm/Dip
Sample From (feet)
Sample To (feet)
True Width (feet)
Gold (oz/ton)
Depth From Mine Surface
(feet)
113 Zone
CBW-1185
344/-8
683.7
695.4
9.8
0.05
3325
113 Zone
CBW-1186
336 / 10
728.2
742.9
14.8
0.02
3124
113 Zone
CBW-1187
340 / 25
767.8
794.1
23.6
0.05
3123
113 Zone
CBW-1188
352 / 15
747.8
756.0
7.5
0.11
3124
113 Zone
CBW-1188
352 / 15
770.8
783.9
12.1
0.12
3125
113 Zone
Including
777.4
783.9
6.2
0.21
3125
113 Zone
CBW-1189
352 /-1
701.9
711.8
8.5
0.10
3301
113 Zone
CBW-1189
352 /-1
724.9
738.0
12.5
0.11
3307
113 Zone
Including
728.2
734.7
5.6
0.18
3307
113 Zone
CBW-1200
349 /-65
1628.2
1663.0
24.3
0.06
3879
113 Zone
CBW-1201
350 /-77
1836.1
1849.3
9.2
0.05
4252
113 Zone
CBW-1201
350 /-77
1882.1
1891.9
6.9
0.06
4288
118 Zone
CBP-1183
12/-52
273.9
281.1
4.9
0.05
3288
118 Zone
Including
276.8
278.8
1.6
0.16
3288
118 Zone
CBP-1184
16/-23
839.7
856.1
13.8
0.11
3398
118 Zone
Including
846.2
849.5
2.3
0.26
3398
118 Zone
CBP-1185
16/5
790.5
797.0
5.9
0.03
3080
118 Zone
CBP-1188
352/-41
269.0
278.8
8.5
0.02
3249
118 Zone
CBP-1189
349/-60
310.3
321.4
10.5
0.12
3345
118 Zone
Including
318.2
321.4
2.6
0.33
3350
118 Zone
CBP-1190
40/-63
318.5
329.6
10.8
0.39
3359
118 Zone
Including
325.0
326.4
1.0
3.32
3360
118 Zone
CBP-1191
34/-42
267.0
279.8
12.5
0.29
3254
118 Zone
Including
269.9
273.2
3.0
1.14
3252
118 Zone
CBP-1192
50/-39
291.3
299.8
7.9
0.09
3257
118 Zone
Including
294.5
297.2
2.6
0.29
3257
118 Zone
CBP-1193
35/3
282.1
291.9
8.9
0.03
3070
118 Zone
CBP-1194
4/-33
191.2
201.1
6.9
0.02
3180
118 Zone
CBP-1194
4/-33
191.2
201.1
8.5
0.02
3180
118 Zone
CBP-1194
4/-33
869.2
876.7
6.9
0.09
3515
119 Zone
CBP-1218
180/30
305.0
314.9
9.5
0.05
791
119 Zone
Including
308.3
311.6
3.0
0.15
791
148 Zone
CBE-0401
346 /-23
635.7
647.1
10.5
0.02
2457
148 Zone
CBE-0402
337 /-18
602.2
629.4
25.3
0.12
2401
148 Zone
CBE-0403
337 /-28
614.0
624.8
10.2
0.09
2491
148 Zone
CBE-0403
337 /-28
690.4
705.9
13.8
0.18
2529
148 Zone
CBE-0404
331 /-22
634.0
646.2
10.8
0.06
2442
148 Zone
CBE-0404
331 /-22
659.0
682.9
20.3
0.27
2455
148 Zone
CBE-0252
359 /-47
1674.4
1685.3
7.9
0.01
2657
148 Zone
CBE-0254
10 /-52
1664.9
1676.7
8.5
0.01
2719
152 Zone
CBE-0255
347 /-11
1126.0
1143.1
15.7
0.09
1828
152 Zone
Including
1126.0
1128.6
2.0
0.18
1826
152 Zone
Including
1133.6
1135.9
2.0
0.40
1828
152 Zone
CBE-0255
347 /-11
1168.0
1178.2
9.5
0.03
1839
152 Zone
CBE-0256
352 /-17
1225.1
1246.4
17.7
0.05
2022
154 Zone
CBS-22-065
351 /-68
924.0
955.8
15.5
0.15
843
154 Zone
Including
927.3
935.1
3.8
0.33
836
154 Zone
Including
947.9
954.2
3.0
0.22
853
Lower Inter Zone
CBS-22-061
1 /-82
5735.1
5742.3
4.6
0.13
4859
Lower Inter Zone
Including
5735.1
5736.7
1.0
0.40
4857
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230214005412/en/
Anvita M. Patil Vice President – Investor Relations and
Treasurer
Cheryl Turner Communications Coordinator
800-HECLA91 (800-432-5291) Investor Relations Email:
hmc-info@hecla-mining.com Website: www.hecla-mining.com
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