TSX- and NYSE-listed Hudbay has discovered a deposit with 35.6 m of high-grade mineralisation that has both zinc-rich massive sulphides and gold, between the old Chisel North mine and the producing Lalor mine, in Canada, both of which Hudbay owns.
At a downhole depth between 540 m and 576 m, the company intersected 35.6 m grading 5.21% zinc, 0.33% copper, 1.37 g/t gold and 15.7 g/t silver, including 4.6 m of 20.76% zinc and 6.2 m of 6.34 g/t gold.
The company will continue two drills in the immediate vicinity of this initial discovery to further confirm the continuity of the mineralisation and its lateral extent.
“These zinc-rich and gold-rich intersections highlight the ever prospective nature of the Flin Flon greenstone belt and demonstrate the value of our Manitoba assets. The discovery of these new zones within close proximity to our existing infrastructure and at shallow depth aligns very well with our Manitoba strategy and is another example of leveraging our exploration expertise to realize additional value.
“We look forward to continuing to drill this new discovery, while advancing exploration activities in the gold and copper-gold zones at Lalor and in the broader Snow Lake camp as we pursue our strategy over the next several years to maximize the value of our Manitoba assets and extend both base metal and gold production at Lalor beyond its current mine life,” said Hudbay president and CEO Alan Hair.