COPPER DEVELOPMENT: HudBay, VMS break ground for Reed mine

MANITOBA – HudBay Minerals (70%) of Toronto and VMS Ventures (30%) of Vancouver broke ground on Aug. 14, 2012, for the new Reed copper mine 50 km southwest of Snow Lake. Initial production is expected by Q3 2013 and full production shortly thereafter.

The Reed deposit is a stratabound massive sulphide deposit containing 2.1 million tonnes of probable reserves grading 3.83% Cu, 0.59% Zn, 6.02 g/t Ag and 0.48 g/t Au. The preliminary economic assessment outlined an underground 1,300-t/d mine accessible by decline. The ore will be treated at one of HudBay’s existing mills.

Visit HudBayMinerals.com for more information about the Reed project.