- San Sebastian continues to expand high-grade, polymetallic zones similar to the Hugh Zone on the Middle and Francine veins.
- Casa Berardi has expanded and refined resources that could increase the size of the proposed Principal and current East Mine Crown Pillar (EMCP) open pits and discovered mineralization that could lead to new pits in the west part of the mine at the West Mine Pillar and NW-SW zones.
- Drilling of the 118 and 123 zones at Casa Berardi has discovered high-grade mineralization at depth and to the west.
- Greens Creek exploration continues to expand the resource by drilling on known mineralized trends.
Drilling continues to expand resources and evaluate polymetallic targets along the Middle and Francine veins and the plan is to also evaluate near-surface, oxide mineralization at the Provessor, North and Esperanza veins.More complete drill assay highlights from San Sebastian can be found in Table A 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-Q4-2017ExplorationUpdate.pdf Casa Berardi - Quebec During the fourth quarter, six underground drills were used to refine stope designs, expand reserves and resources in the 118, 123, and 124 zones and confirm further potential at depth, to the west and in some cases to the east. Up to four drills on surface completed in-fill and exploration drilling that could expand the proposed Principal Pit and the current EMCP pit and discover new mineralization that could lead to pits in the west part of the mine. At the Lower 118 Zone, drilling has confirmed the continuity of multiple mineralized lenses that extend over 1,600 feet down-plunge and remain open to depth and to the east and west of the current resources. Drilling near the bottom of the mine returned 0.90 oz/ton gold over 21.9 feet and 0.38 oz/ton gold over 37.8 feet and suggests there is good potential to extent high-grade resources to the west and to depth near the Casa Berardi Fault and below the current mine infrastructure. Drilling of stacked, high-grade lenses of the 123 Zone is defining the connection of multiple mineralized lenses for over 1,600 feet of strike length and over 3,000 feet down-dip below the 1010 level. Drilling on the western extreme of the lower 123 Zone intersected 0.32 oz/ton gold over 37.1 feet, confirming the continuation of multiple lenses. Also, to the east there was an intersection grading 0.22 oz/ton gold over 24.0 feet. Drilling below the mine infrastructure intersected 0.41 oz/ton gold over 10.7 feet and 0.35 oz/ton gold over 11.5 feet. Drilling of the lower 123 Zone at the bottom of the mine confirmed vein continuity and shows that it is open at depth and to the east and west of the current resources. Intersections from drilling on the upper part of the 124 Zone include 0.91 oz/ton gold over 4.6 feet and 0.42 oz/ton gold over 17.7 feet, suggesting mineralization continues down from surface and is open at depth and to the west. Drilling in this area has also confirmed the high-grade nature of the crown pillar below the proposed Principal Pit. Surface and shallow underground drilling have identified extensions of potential pits that are being evaluated for production. Drilling along the northeast extension of the proposed Principal Pit area confirmed 1,200 feet of continuity to the northeast and includes an intersection of 0.11 oz/ton gold over 7.2 feet. Drilling targeting the shallow eastern extension of the 124 Zone intersected strong mineralization including 0.14 oz/ton gold over 9.7 feet. Underground drilling of this target is planned to evaluate deeper extensions of the high-grade shoots. Drilling on the west extension of the current EMCP pit has returned 0.09 oz/ton gold over 27.8 feet and 0.07 oz/ton gold over 50.7 feet to define an extension over 700 feet to the west of the current pit outline. Drilling of the West Mine Surface Pillar within 800 feet of surface to the west of the west shaft intersected a broad mineralized zone of 0.04 oz/ton gold over 78.7 feet that contains an interval of 0.12 oz/ton gold over 13.8 feet. In-fill drilling in 2018 may convert a large portion of those resources to indicated category with the eventual incorporation into the life of mine plan. Aggressive surface drilling programs are planned through 2018 at the 124 Zone (Principal area), 146/EMCP, West Mine Surface Pillar and South West zones to define a possible series of open pits along the Casa Berardi Fault. Underground drilling is expected to continue to expand and refine the lower 118, 121 and 123 zones lower in the mine.
More complete drill assay highlights from Casa Berardi can be found in Table A 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-Q4-2017ExplorationUpdate.pdfGreens Creek - Alaska At Greens Creek, drilling in the fourth quarter, targeting the East Ore, Deep 200 South, Gallagher, Deep Southwest and West zones, upgraded and expanded the known resources. Strong assay results were also received from previous drilling on the East Ore, Gallagher and Deep 200 South zones. In the East Ore Zone intersections from definition drilling, including 32.3 oz/ton silver, 0.18 oz/ton gold, 9.0% zinc and 4.8% lead over 19.8 feet, compare favorably to previously modeled resource estimates, particularly at higher elevations. Step-out drilling, including an intersection of 54.2 oz/ton silver, 0.43 oz/ton gold, 4.25% zinc and 1.34% lead over 19.0 feet, suggest strong mineralization continues beyond the resource to the south and at depth. Aggressive drilling of the East Ore Zone is planned to continue well into 2018 with the goal of confirming reserves and expanding the known resource. Definition drilling of the southern portion of the Deep 200 South Zone, including 40.1 oz/ton silver, 0.03 oz/ton gold, 6.0% zinc and 4.2% lead over 18.9 feet, improved the high-grades and upgraded it to indicated resource. Exploration drilling south of the current resource has extended 200 South Bench mineralization another 300 feet with an intersection of 23.6 oz/ton silver, 0.06 oz/ton gold, 2.5% zinc and 1.3% lead over 19.5 feet. Recent exploration drilling further south suggests the bench mineralization remains robust. Drilling of the Gallagher Zone confirmed modeled thicknesses and may have increased the resource by defining mineralization further to the west and east beyond the current resource. Intersections from this program include 25.3 oz/ton silver, 0.01 oz/ton gold, 0.7% zinc and 0.3% lead over 9.4 feet and 8.4 oz/ton silver, 0.03 oz/ton gold, 11.8% zinc and 6.4% lead over 11.2 feet. Underground drilling for the remainder of the year is planned to focus on the East Ore, Upper Plate, Deep 200 South, and Gallagher zones.
More complete drill assay highlights from Greens Creek can be found in Table A 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-Q4-2017ExplorationUpdate.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 an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in seven world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. 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. 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 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 ResourcesReporting 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). 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 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. 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 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.
Qualified Person (QP) Pursuant to Canadian National Instrument 43-101Dean McDonald, PhD. P.Geo., Senior Vice President - Exploration of Hecla Mining Company, who serves as a Qualified Person under National Instrument 43-101, supervised the preparation of the scientific and technical information concerning Hecla's mineral projects in this news release. 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 Greens Creek Mine are contained in a technical report prepared for Hecla titled "Technical Report for the Greens Creek Mine, Juneau, Alaska, USA" effective date March 28, 2013, and for the Lucky Friday Mine are contained in a technical report prepared for Hecla titled "Technical Report on the Lucky Friday Mine Shoshone County, Idaho, USA" effective date April 2, 2014, for the Casa Berardi Mine are contained in a technical report prepared for Hecla titled "Technical Report on the Mineral Resource and Mineral Reserve Estimate for the Casa Berardi Mine, Northwestern Quebec, Canada" effective date March 31, 2014 (the "Casa Berardi Technical Report"), and for the San Sebastian Mine 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 three 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. Copies of these technical reports are available under Hecla's profile on SEDAR at www.sedar.com. Table A - Assay Results - Q4 2017 San Sebastian (Mexico)
|Zone||Drill Hole Number||Sample From (ft)||Sample To (ft)||Width (feet)||True Width (feet)||Gold (oz/ton)||Silver (oz/ton)||Zinc (%)||Lead (%)||Copper (%)|
|Zone||Drill Hole Number||Drill Hole Section||Drill Hole Azm/Dip||Sample From||Sample To||True Width (feet)||Gold (oz/ton)||Depth From Mine Surface (feet)|
|Lower 118 - 990 Area||CBP-0990-033||12137||341/-14||187.0||229.7||37.8||0.38||-3286.6|
|Lower 123 - 870-990 Area||CBP-0870-123||12212||193/-4||152.9||190.3||37.1||0.32||-2822.1|
|Upper Principal 124 - 210 area||CBP-0210-032||12420||359/28||150.3||170.6||17.7||0.42||-606.9|
|Explo Surface Principal Area||CBS-17-803||13075||360/-45||721.8||755.6||26.2||0.02||-519.6|
|Surface EMCP pit||CBF-148-049||14621||360/-60||426.5||465.9||27.8||0.09||-389.8|
|Surface - NW-SW Area||CBS-17-777||10561||1/-44||472.4||502.0||23.0||0.05||-358.2|
|Zone||Drill Hole Number||Drillhole Azm/Dip||Sample From||Sample To||True Width (feet)||Silver (oz/ton)||Gold (oz/ton)||Zinc (%)||Lead (%)||Depth From Mine Portal (feet)|
|East Ore Definition||GC4672||63/30||466.50||476.50||9.0||12.33||0.09||18.28||4.02||772|
|Deep 200 South Definition||GC4727||63/-87||236.00||248.50||12.1||15.25||0.00||7.83||4.30||-1513|
|Deep 200 South Exploration||GC4671||63/-87||409.00||411.00||2.0||34.06||0.06||1.03||0.47||-1691|