Updates announced for Lalor, Chisel mines

Waterton files suit against Hudbay

New information has come in regarding a number of Hudbay projects near Snow Lake.

Analysts and investors visited the Lalor mine site near Snow Lake April 15-16, along with the company announcing updates to its Manitoba operations. Information regarding the 777 mine in Flin Flon was nowhere to be found, but Hudbay provided updates on several Snow Lake-area facilities, including Lalor mine, the 1901 zone near Chisel North and the Stall concentrator.

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Throughput at Lalor mine increased to 4,500 tonnes per day in February, boosting the mine’s productivity toit’s highest quarterly production yet, according to information supplied to The Reminder. Record production was also mentioned for the Stall concentrator, coming after improvements to ongoing operating and maintenance work.

Drilling at the 1901 project is ongoing, with Hudbay reporting that a 100-metre drill hole found a six-metre intersection of 12.68 per cent zinc, .18 per cent copper, .79 grams per tonne of gold and 89.9 grams per tonne of silver.

Other holes, according the company, have confirmed that the project extends northwest, showing intersections with levels of zinc, copper, gold and silver.

Hudbay is currently planning to develop an underground exploration platform from the Chisel/Lalor ramp so the 1901 zone can be drilled further. Infrastructure built during exploration could allow for a quick transition to production if the 1901 zone is deemed worth mine production.

 “We are also very pleased with the recent results from our exploration activities, including further drilling in our newly discovered 1901 Zone, which demonstrates the substantial value creation potential of our Manitoba business,” said Hudbay president and CEO Alan Hair in a press release.

Waterton

The ongoing grudge match between Hudbay and upstart investor Waterton Global Resource Management went to new heights April 16, with Hudbay announcing that Waterton had filed suit against the company,

According to a news release issued by Hudbay, Waterton had commenced a legal proceeding in Ontario Superior Court against the company, alleging that Hudbay’s upcoming May 7 annual and special shareholders meeting contains “misrepresentations”.

“Hudbay believes that the litigation is frivolous and will vigorously defend itself. The company will seek to recover its legal costs from Waterton and will provide further updates on this matter as developments warrant,” reads the release.

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