Hecla mines a series of open pits at the Casa Berardi gold mine in Quebec. (Image: Hecla Mining Co.)
QUEBEC – Hecla Mining Co., headquartered in Coeur d’Alene, Idaho, has filed an updated resource estimate for the Casa Berardi gold mine 95 km north of La Sarre, in the Abitibi region.
Using a gold price of US$1,200 per ounce, Hecla estimates the Casa Berardi reserves contain 1.9 million oz. of gold. The largest increases occurred in the proposed West mine crown pillar and Principal pits.
Proven and probable reserves at Casa Berardi now stand at 21.5 million tonnes grading 2.74 g/t gold for 1.9 million contained oz. Measured and indicated resources are 11.6 million tonnes grading 3.09 g/t gold for 1.2 million contained oz. The smaller inferred resource is 5.6 million tonnes at 3.43 g/t gold for 652,000 contained oz.
Based on only reserves, Hecla says the Casa Berardi mine will contribute 35% to its revenues. The mine should generate US$335 million free cash flow over its life with an after tax net present value of US$325 million at a 5% discount rate.
Hecla has a 128-year history of operations. Watch the video at www.Hecla-Mining.com.