Hecla Announces First Quarter 2022 Production

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COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company (NYSE: HL) today announced preliminary silver and gold production for the first quarter of 2022.1

STRONG POINTS

  • Silver production of 3.3 million ounces, a 3% increase from the fourth quarter of 2021 due to higher grades mined at Greens Creek.

  • Gold production of 41,642 ounces.

  • Lead and zinc production was in line with the previous quarter.

  • Silver equivalent production of 9.7 million ounces, gold equivalent production of 123,537 ounces.2

“Hecla, the largest silver producer in the United States with the largest reserves in the country, had strong production at all three operations,” said Hecla President and CEO Phillips S. Baker. , Jr. “Greens Creek production increased due to slightly higher grades. Lucky Friday production has now had six quarters with production exceeding 830,000 ounces, positioning production to reach over one million ounces per quarter for the remainder of the year. At Casa Berardi, production went according to plan, with the plant processing over 160 pit materials.

“Hecla is on track to increase its silver production this year and for each of the next two years, while also being the third largest zinc producer in the United States. Zinc, like silver, is an essential mineral in the energy transition and is approaching its record price set 15 years ago.

OPERATIONS

greens creek

Greens Creek produced 2.4 million ounces of silver and 11,402 ounces of gold compared to 2.3 million ounces of silver and 10,229 ounces of gold in the prior quarter. The increase in production is mainly due to higher grades. The plant was operating at an average of 2,352 tonnes per day (tpd).

Casa Berardi

Casa Berardi produced 30,240 ounces versus 37,266 ounces in the prior quarter. The expected drop in production was expected since surface tons are of lower quality. The increase in surface tonnes comes from pit 160, which began ore production in the fourth quarter of 2021. The plant operated at an average of 4,291 tpd, compared to an average of 4,207 tpd in the previous quarter.

lucky friday

At the Lucky Friday mine, 888,000 ounces of silver were produced, compared to 955,000 ounces in the previous quarter. Fewer tonnes and lower silver grades were mined due to equipment delays which affected mine sequencing. The equipment is received this quarter. The plant was operating at an average of 864 tpd.

(1)

See the disclaimer regarding opening statements at the end of this release.

(2)

Calculation of the silver and gold equivalent based on the average actual prices of each metal in the first quarter as follows: $23.94 for Ag, $1,873.63 for Au, $1.06 for Pb and $1.70 for Zn.

MANUFACTURING SUMMARY

Quarter ended

March 31, 2022

December 31, 2021

% Increase decrease)

PRODUCTION

Silver (oz)

3,324,709

3,226,927

3%

Gold (oz)

41,642

47,977

(13)%

Lead (tons)

10,863

10,863

0%

Zinc (tonnes)

14,947

14,754

1%

Greens Creek – Silver (oz)

2,429,782

2,262,635

7%

Greens Creek – Gold (oz)

11,402

10,229

11%

Lucky Friday – Silver (oz)

887 858

955 401

(7)%

Casa Berardi – Gold (oz)

30 240

37,266

(19)%

Nevada Operations – Gold (oz) 1

– –

482

n / A

(1)

At the Nevada operations, stockpiled ore was crushed in 2021.

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, Idaho and Quebec, Canada, the Company has a number of exploration and pre-development projects in world-class silver and gold mining districts in across North America.

Cautions Regarding Estimates and Forward-Looking Statements

All measures of the Company’s first quarter 2022 operating results contained in this release are preliminary and reflect the Company’s expected results as of the date of this release. Actual results reported for the first quarter of 2022 are subject to final management review as well as review by the Company’s independent accounting firm and may differ materially from current expectations due to a number of factors, including, without limitation, additional or revised disclosures and changes in accounting standards or policies or the manner in which those standards are applied.

Statements made or information provided in this press 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. movables. Words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “believe”, “estimate”, “target”, “anticipate” and similar expressions are used to identify these forward-looking statements. Forward-looking statements in this press release may include, but are not limited to, Lucky Friday silver production which could reach more than one million ounces per quarter for the remainder of the year, and the company is on track to increase silver production this year and for each of the next two years. Important factors or assumptions used in making such forward-looking statements or information include that the Company’s development and production plans will proceed as planned and will not require revision due to risks or uncertainties, whether they are known, unknown or unforeseen. , to which the operations of the Company 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, metal price volatility, metal production and cost volatility, litigation, regulatory and environmental risks, operating risks, development risks projects, political risks, labor issues, ability to raise financing and exploration risks. and results. Refer to the Company’s 2021 Form 10-K filed February 22, 2022 for a more detailed discussion of factors that may affect expected future results. The Company undertakes no obligation and does not intend to update any forward-looking statements other than as required by law.

Category: Press release


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