Announcement Date: 2022-03-28
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: HudBay Minerals Inc.
Project name: Constancia
Location: Peru
Commodities: Gold,Silver,Copper,Molybdenum
Highlight: Updated Resource and Reserve Estimates for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, March 28, 2022 (GLOBE NEWSWIRE) — Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE:HBM) today released its annual mineral reserve and resource update. All amounts are in U.S. dollars, unless otherwise noted. Mine planning gains and economic re-evaluations have resulted in additional mineral reserves at Constancia which have largely oset 2021 mining depletion. Current mineral reserve estimates at Constancia total 521 million tonnes at 0.31% copper with over 1.6 million tonnes in contained copper. As a result, Constancia’s expected mine life has been extended one year to 2038. The copper contained in inferred mineral resources has also increased in 2022 due to the inclusion of the Constancia Norte underground mineral resource estimates. In 2021, Hudbay completed a positive scoping study which resulted in an inferred mineral resource estimate of 6.5 million tonnes at 1.2% copper in two high grade skarn lenses located below the open pit in the Constancia Norte area. The study concluded these two lenses could be mined by underground methods starting in 2029 to supplement the open pit production. Please refer to Figure 1 for a cross-section of the conceptual underground mine design at Constancia Norte.
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