The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Greens Creek silver reserves grow by 12% to 125.2 million oz North of 60 Mining News – February 18, 2022
Hecla's Greens Creek Mine in Alaska replaced the 9.2 million ounces of silver mined last year and grew reserves by 12%.
Thanks in large part to significant growth at its Greens Creek Mine in Southeast Alaska, Hecla Mining Company reports the second largest silver reserves in its 130-year history.
Going into 2022, Hecla's three currently operating mines – Greens Creek, Lucky Friday (Idaho), and Casa Berardi (Quebec) host a combined 37.3 million tons of reserves containing 200 million ounces of silver, 2.73 million oz of gold, 1.81 billion pounds of zinc, and 1.47 billion lb of lead.
"Since 2008, Hecla has, through exploration, added 239 million silver ounces in reserves, replacing production while also growing resources," said Hecla Mining President and CEO Phillips Baker, Jr. "We see further growth in reserves, resources, and production from our exciting exploration program. With the increasing need for silver to contribute to the transition to cleaner energy, Hecla has both the largest silver reserve and production in the United States which positions us to meet demand long into the future."
The majority of this silver needed for solar panels, electric vehicles, and other low-carbon energy applications is found at Greens Creek. This largest silver producing mine in the United States entered 2022 with 11.08 million tons of proven and probable reserves averaging 11.3 oz per ton (125.2 million oz) silver, 0.09 oz/t (946,000 oz) gold, 6.6% (1.45 billion lb) zinc, and 2.5% (564.5 million lb) lead.
"Hecla's silver reserves are near our all time high with Greens Creek reaching 125 million ounces, that mine's second highest since 2002, and Lucky Friday's 75 million ounces giving it a reserve mine life in excess of 15 years," said Baker.
The exploration carried out at Greens Creek expanded silver reserves by 12% after replacing the 9.2 million oz produced at the Southeast Alaska mine last year. Likewise, the new reserves at this operation contain 14% more gold and 11% more zinc and lead than at the beginning of 2021.
Last year's drilling at Greens Creek focused on resource conversion in the 9A and 200 South zones and exploration in the 200 South and Gallagher Fault Block zones.
Highlights from the 2021 drilling include:
• 2.4 meters averaging 29.2 oz/t silver, 0.39 oz/ton gold, 19% zinc, and 10.6% lead (9A).
• 4.3 meters averaging 19.2 oz/t silver, 0.14 oz/ton gold, 10.5% zinc, and 6.4% lead (9A).
• 1.4 meters averaging 60 oz/t silver, 0.02 oz/ton gold, 8.6% zinc, and 4.1% lead (200 South).
• 1.8 meters averaging 25.7 oz/t silver, 0.23 oz/ton gold, 2% zinc, and 1% lead (200 South).
Hecla says assays remain pending for numerous holes drilled at Greens Creek last year.
For 2022, the underground definition drilling at Greens Creek will focus on upgrading resources in the West, East, Southwest, Gallagher, and 200 South zones.
This year's underground exploration drilling will focus on extending mineralization along strike to the south for the 200 South, Gallagher, and Gallagher Fault Block zones, as well as targeting the westward extension of the East Ore zone and an offset segment of the West zone.
Surface exploration drilling will be focused on advancing the understanding of the geology and discovery of new mineral zones at Lil'Sore, a mineralized trend about three miles northwest of the current mining area at Greens Creek.
Surface drilling will also target trend areas and extend near-mine mineralization at the 5250 and Upper Plate zones.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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