WINNIPEG, MANITOBA--(CCNMatthews - Sept. 27, 2006) - HudBay Minerals
Inc. (TSX:HBM) (HudBay) announces results from its first half 2006
exploration activities in northern Manitoba and Saskatchewan.
Illustrations and previously released data are available at
www.hudbayminerals.com.
Exploration results reported in this
release exclude results from exploration within HudBay operating mines
and exploration at locations other than northern Manitoba and
Saskatchewan.
Exploration, managed by HudBay's Hudson Bay
Exploration and Development Company Limited (HBED) subsidiary, was
funded by flow-through financing that is part of HudBay's planned $30
million, three-year exploration program in the Flin Flon Greenstone Belt
where HudBay's mines and plants are located.
As previously
announced, in addition to this planned $30 million program, which
commenced in 2005, HBED has also entered into separate exploration
option agreements with Halo Resources Ltd. and with Murgor Resources
Inc. (Murgor). Two remaining option agreements contemplated in a letter
of intent (LOI) between Murgor and HBED respecting two large-scale
grassroots projects are in the process of being finalized. These
agreements could increase exploration expenditures in the Flin Flon
Greenstone Belt.
During the first half of 2006, approximately
24,870 meters of diamond drilling from surface, in 78 drill holes, was
completed. The program continued to focus on mineral deposit targets,
structural targets and geophysical anomaly targets.
Commenting on
the results Peter Jones, President and CEO of HudBay, said: "Drilling
of the Bur and Watts deposits are encouraging as they could provide
additional feed to our plants at current metal prices". He also said,
"Two high grade zinc intersections about 100 meters south from our
Chisel North mine may increase the mine life of Chisel North."
To view a copy of the "Flin Flon Greenstone Belt" please click the link below:
http://www.ccnmatthews.com/docs/hudmap.pdf
Mineral Deposit Targets
Drilling
continued to test the Watts River deposit 52 km from the Snow Lake
concentrator and the Bur deposit 22 km from the Snow Lake concentrator.
Watts River Target
In
the first half of 2006, 4,366 meters were drilled in ten drill holes.
Nine drill holes intersected mineralization and one drill hole was
abandoned. Notable main zone intersections were:
- 2.53% Cu, 3.09% Zn over 7.74 meters in drill hole WRS007;
- 1.42% Cu, 0.09% Zn over 4.41 meters in drill hole WRS008;
- 1.66% Cu, 2.29% Zn over 9.46 meters in drill hole WRS009;
- 2.64% Cu, 2.66% Zn over 1.02 meters in drill hole WRS011;
- 1.49% Cu, 4.99% Zn over 4.40 meters in drill hole WRS012;
- 2.11% Cu, 2.16% Zn over 5.66 meters in drill hole WRS013;
- 1.34% Cu, 5.34% Zn over 1.21 meters in drill hole WRS014;
- 0.10% Cu, 12.54% Zn over 0.69 meters in drill hole WRS015;
- 1.83% Cu, 4.50% Zn over 6.17 meters in drill hole WRS016;
Abnormally
warm winter weather prevented access to some drill sites. HudBay
expects to drill 3 holes adjacent to higher grade copper mineralization
in 2007.
HudBay plans to evaluate the possibility of mining the Watts deposit at the current metal prices.
Bur Target
In
the first half of 2006, 2,524 meters in seven complete parent drill
holes and nine wedge cuts were drilled. Mineralization was intersected
in all drill holes. Wedge cuts were for possible future metallurgical
test work and were not assayed. Notable intersections in the parent
drill holes were:
- 3.19% Cu, 6.89% Zn over 2.95 meters in drill hole BZS011;
- 1.98% Cu, 5.78% Zn over 1.85 meters in drill hole BZS012;
- 2.76% Cu, 7.24% Zn over 1.97 meters in drill hole BZS013;
- 2.02% Cu, 8.86% Zn over 1.43 meters in drill hole BZS014;
2005
and 2006 drill results indicate that mineralization above the 600 meter
level is linked with mineralization intersected in deeper drill holes. A
historical resource estimate released March 20, 2006 did not include
intersections from deeper drill holes.
HudBay is evaluating opportunities to mine the Bur deposit at the current metal prices.
Structural Targets
During
the first half of 2006, diamond drilling tested the Trout Mine
stratigraphy with three drill holes located 500, 1,500 and 2,500 meters
northwest of the mine site. These drill holes tested the mine
stratigraphy at depths ranging between 550 and 740 meters. Each drill
hole intersected the volcanic sequence of rocks, including the mine
rhyolite that hosts the Trout Mine ore lenses. Although no significant
mineralization was encountered with the drill program, visible
alteration of the mine rhyolite was noted. Two shorter drill holes were
also drilled to test horizontal loop electromagnetic (HLEM) anomalies
southeast and northwest of drill hole TS0601 that intersected copper and
zinc mineralization at a shallow depth. In both cases, the HLEM
anomalies were explained by barren graphitic horizons. Total drilling
completed in the Trout Lake area totaled 4,258 meters in five drill
holes.
- 2.82% Cu, 0.48% Zn over 0.35 meters in drill hole TS0601;
At
the previously mined Chisel property, 1,271 meters were drilled in one
parent drill hole and one wedge was cut off the parent drill hole to
test an off-hole borehole electromagnetic anomaly detected in an older
drill hole. This anomaly was believed to correlate with mineralization
down-dip of the closed Chisel Lake mine. Massive sulphide mineralization
was intersected in both drill holes.
- 0.14% Cu, 19.92% Zn over 3.49 meters in drill hole CH0601;
- 0.18% Cu, 14.36% Zn over 4.99 meters in drill hole CH0601W1;
The
massive sulphide mineralization has recently been interpreted to
correlate with the currently operating Chisel North mine. HudBay plans
to conduct a drill program, not funded by flow-through financing, to
define the zinc rich massive sulphide mineralization for mining from the
Chisel North mine.
A Quantec Titan 24 deep penetrating
geophysical survey also identified several targets on the Chisel
property that will be drill tested starting in the third quarter.
Three
drill holes (1,043m), one on the Moose Lake property and two on the
Limestone Bay property near Moose Lake, Manitoba were also drilled along
previously tested mineralized structures. No significant mineralization
was intersected in two of the drill holes and one was abandoned due to
poor ice conditions.
Fon Target
The Fon deposit is a
steeply dipping, multi-lens, coarse grained massive sulphide deposit
with extensive associated disseminated and stringer type sulphide
mineralization Drilling consisted of 1,207 meters in two drill holes and
one drill hole deepening. The diamond drilling tested a previous
geological interpretation, which indicated the sulphide horizons were
displaced by barren intrusive bodies, however, mineralization was
intersected in all of the drill holes.
Notable intersections include:
- 7.23% Zn over 0.15 meters in deepening drill hole Fon448;
- 3.36% Cu, 5.79% Zn over 0.37 meters in drill hole Fon457;
In September 2006, as previously released, HBED signed an option agreement with Murgor respecting the Fon property.
Geophysical Targets
10,201
meters were drilled in 38 drill holes east and south of Snow Lake.
Drill hole ROS010, intersected a notable new occurrence of disseminated
to near solid sulphide mineralization with visible sphalerite and
chalcopyrite.
- 0.24% Cu, 2.69% Zn over 0.57 meters in drill hole ROS010;
This occurrence is included in one of the option agreements to be finalized under the LOI with Murgor.
Follow
up drilling of a Crone fixed loop electromagnetic geophysical anomaly
near the Harmin deposit south east of Snow Lake intersected massive
sulphide mineralization in drill hole HAR121. This anomaly was
previously tested by drill hole, NIM040 that intersected sulphide
mineralization that assayed 0.61% Cu, 4.26% Zn over 2.40 meters. A
recent Crone fixed loop electromagnetic survey indicated a potentially
longer strike length target than previously interpreted. Notable assays
in HAR121 were:
- 1.17% Cu, 3.10% Zn over 1.35 meters in drill hole HAR121;
HudBay expects to do further work in the Harmin area.
Second Half 2006 Focus
In addition to work planned at Watts River, Chisel and Harmin, HudBay plans to drill:
- The Talbot Lake copper/zinc deposit.
- Structural targets at the Flin Flon mine property.
- Up to 10 geophysical targets.
2006 HudBay Procedures
Exploration
core drilling was either NQ or BQ size. The core was logged and
mineralized intersections were marked for sampling and assaying, by HBED
employed geologists. The marked intersections or intervals were sawn in
half by a diamond saw and one half of the core was placed in plastic
bags and tagged with unique sample numbers, while the second half was
returned to the core box and stored.
Each bagged core sample was
transported to the Hudson Bay Mining and Smelting Co., Limited's assay
laboratory in Flin Flon, Manitoba where it was dried, crushed and
pulverized and a 250-gram sample was prepared for assaying.
From
each 250 gram sample 0.25 grams was removed and leached in aqua regia
and analyzed by ICP-AES for Ag, Cu, Zn, As, Pb, Ni and Fe. Also from the
250-gram sample, 15 grams was removed for gold determination by fire
assaying with Atomic Absorption finish.
Assaying integrity is
monitored internally with a quality control program, which includes the
use of assay sample standards, blanks, duplicates and repeats and
externally through national and international programs. In addition,
within each group of 20 core samples, one core sample has a second 250
gram split collected for check assaying at Acme Analytical Laboratories
Ltd. in Vancouver, B.C.
News Release and Attachments
The
news release and attached tables provide core lengths and additionally
where indicated, horizontal or vertical lengths of mineralization
intersected. True widths are not provided. Where metal assays are
provided for intersections they are either a single assay of a sample of
the entire intersection length or a composite of assays calculated from
interval weighted assays over the intersection length.
The data
herein and the contents of this news release have been reviewed by Kelly
Gilmore, B.Sc. P. Geo., Chief Exploration Geologist with HBED, who is a
Qualified Person, within the meaning of National Instrument 43-101,
with the ability and authority to verify the authenticity and validity
of the data.
Attached to this news release are tables showing the
first half 2006 drill results. Prior periods and previously undisclosed
drill results for Talbot Lake deposit, Harmin deposit, Watts River
deposit and the Bur deposit together with graphics may be found at the
HudBay web site, www.hudbayminerals.com.
About HudBay Minerals Inc.
HudBay
Minerals Inc. is an integrated mining company that operates mines,
concentrators and a metal production complex in northern Manitoba and
Saskatchewan. The company also owns a zinc oxide production facility in
Ontario, the White Pine Copper Refinery in Michigan and the Balmat zinc
mine in New York state.
HudBay is a member of the S&P/TSX Composite Index.
Forward Looking Information
This
news release contains "forward-looking information" within the meaning
of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with respect to
future exploration expenditures by HudBay and others, future exploration
activities and the success of such activities, the Chisel North mine
life and future production. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as
"plans", "expects", or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"does not anticipate", or "believes" or variations of such words and
phrases or state that certain actions, events or results "may", "could",
"would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level
of activity, performance or achievements of HudBay, to be materially
different from those expressed or implied by such forward-looking
statements, including risks associated with the mining industry such as
economics, future commodity prices, actual results of current
exploration activities, government regulation, environmental and
reclamation risks, the timing and amount of estimated future production,
costs of production, capital expenditures, timely and cost effective
access by HudBay and option holders to sufficient capital from internal
and external sources, costs and timing of the development of new
deposits, permitting time lines, risks related to option agreements,
currency exchange rate fluctuations, title disputes or claims, possible
variations in ore reserves, resources, grade or recovery rates, failure
of plant, equipment or processes to operate as anticipated, accidents,
labour disputes, capital expenditures, conclusions of economic
evaluations, as well as those factors discussed in the section entitled
"Risk Factors" in HudBay's Annual Information Form for the year ended
December 31, 2005, available on www.sedar.com. Although HudBay has
attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. HudBay does not undertake to update any forward-looking
statements, except in accordance with applicable securities laws.
To
view a copy of the "Watts River Mineral Deposit Target (Main Zone)",
"Bur Mineral Deposit Target", and "Structural Target (Chisel area)"
please click the link below:
http://www.ccnmatthews.com/docs/hudcharts.pdf
2006 Drill Hole Locations
Mineral Deposit Targets
-----------------------------------------------------------
-----------------------------------------------------------
Grid(1) Grid(1) Grid(1) Hole Hole Hole
Hole East North Elev. Length Azimuth Dip
meters meters meters meters degrees degrees
-----------------------------------------------------------
-----------------------------------------------------------
Watts River Target
-----------------------------------------------------------
-----------------------------------------------------------
WRS007 2995 70 0 656.0 283 -67.0
-----------------------------------------------------------
WRS008 2840 130 0 515.0 283 -65.0
-----------------------------------------------------------
WRS009 3070 115 0 929.0 283 -80.0
-----------------------------------------------------------
WRS010 3050 -70 0 122.0 283 -67.0
-----------------------------------------------------------
WRS011 3050 -70 0 692.0 283 -67.0
-----------------------------------------------------------
WRS012 2945 -250 0 581.0 283 -67.0
-----------------------------------------------------------
WRS013 2645 -100 0 178.0 283 -50.0
-----------------------------------------------------------
WRS014 2635 -300 0 188.0 283 -50.0
-----------------------------------------------------------
WRS015 2635 -500 0 200.0 283 -50.0
-----------------------------------------------------------
WRS016 2750 -200 0 305.0 283 -55.0
-----------------------------------------------------------
-----------------------------------------------------------
Bur Target
-----------------------------------------------------------
-----------------------------------------------------------
BZS008(2) -503 3370 0 129.0 130 -85.0
-----------------------------------------------------------
BZS009 -671 4115 0 1022.0 130 -84.0
-----------------------------------------------------------
BZS010 -575 635 0 359.0 130 -70.0
-----------------------------------------------------------
BZS011 -374 3292 0 317.0 130 -68.0
-----------------------------------------------------------
BZS011W1 -291 2560 0 35.0 130 -68.0
-----------------------------------------------------------
BZS011W2 -291 2560 0 39.0 130 -68.0
-----------------------------------------------------------
BZS012 -291 2560 0 143.0 130 -70.0
-----------------------------------------------------------
BZS012W1 -291 2560 0 21.0 130 -70.0
-----------------------------------------------------------
BZS012W2 -291 2560 0 27.0 130 -70.0
-----------------------------------------------------------
BZS013 -335 2286 0 167.0 130 -67.0
-----------------------------------------------------------
BZS013W1 -335 2286 0 24.0 130 -67.0
-----------------------------------------------------------
BZS013W2 -335 2286 0 0.0(3) 130 -67.0
-----------------------------------------------------------
BZS013W3 -335 2286 0 43.0 130 -67.0
-----------------------------------------------------------
BZS014 -335 2103 0 143.0 130 -60.0
-----------------------------------------------------------
BZS014W1 -335 2103 0 23.0 130 -60.0
-----------------------------------------------------------
BZS014W2 -335 2103 0 32.0 130 -60.0
-----------------------------------------------------------
-----------------------------------------------------------
(1) The grids for each target area and geophysical anomaly
holes are independent and separately oriented.
(2) Final hole depth for BZS008 was 737m including 129m
drilled in 2006.
(3) Hole abandoned with no meters drilled.
2006 Drill Hole Locations
Structural Targets
-------------------------------------------------------------
-------------------------------------------------------------
Grid(1) Grid(1) Grid(1) Hole Hole
Hole East North Elev. Length Azimuth Hole Dip
meters meters meters meters degrees degrees
-------------------------------------------------------------
-------------------------------------------------------------
Limestone Bay Target
-------------------------------------------------------------
LIM016 -805 365 0 128 294 -60
-------------------------------------------------------------
LIM017 -997 1341 0 358 294 -65
-------------------------------------------------------------
-------------------------------------------------------------
Moose Lake Target
-------------------------------------------------------------
-------------------------------------------------------------
MAW084 1013 800 0 557 288 -52
-------------------------------------------------------------
-------------------------------------------------------------
Fon Target
-------------------------------------------------------------
-------------------------------------------------------------
FON448D(4) 1463 671 0 734 201 -87
-------------------------------------------------------------
FON457 1463 671 0 584 201 -65
-------------------------------------------------------------
FON458 1463 661 0 464 201 -45
-------------------------------------------------------------
-------------------------------------------------------------
Chisel Mine Area
-------------------------------------------------------------
-------------------------------------------------------------
CH0601 48063 21171 0 734 202 -87
-------------------------------------------------------------
CH0601W1 48063 21171 0 406(5) 202 -87
-------------------------------------------------------------
-------------------------------------------------------------
Trout Lake Mine Area
-------------------------------------------------------------
-------------------------------------------------------------
TS0601 -600 497 0 1281 1321 -78
-------------------------------------------------------------
TS0602 -485 631 0 404 444 -65
-------------------------------------------------------------
TS0603 -1371 226 0 1070 1110 -80
-------------------------------------------------------------
TS0604 -851 420 0 404 197 -50
-------------------------------------------------------------
TS0605 -2600 0 0 1039 190 -78
-------------------------------------------------------------
-------------------------------------------------------------
(1) The grids for each target area and geophysical anomaly
holes are independent and separately oriented.
(4) Hole deepening, total depth shown in table. Hole not
included in drill hole count.
(5) Length of the wedge portion - final hole depth was 822m.
2005 Drill Hole Locations
Geophysical Targets
------------------------------------------------------------
------------------------------------------------------------
Grid(1) Grid(1) Grid(1) Hole Hole Hole
Hole East North Elev. Length Azimuth Dip
meters meters meters meters degrees degrees
------------------------------------------------------------
------------------------------------------------------------
Har Area
------------------------------------------------------------
------------------------------------------------------------
HAR111 25 1400 0 458 114 -55
------------------------------------------------------------
HAR112 25 1400 0 494 114 -70
------------------------------------------------------------
HAR113 875 1400 0 363 114 -55
------------------------------------------------------------
HAR114 620 300 0 254 278 -55
------------------------------------------------------------
HAR115 -1050 3700 0 205 90 -55
------------------------------------------------------------
HAR116 709 500 0 233 287 -55
------------------------------------------------------------
HAR117 -1320 600 0 193 92 -55
------------------------------------------------------------
HAR118 840 300 0 422 285 -55
------------------------------------------------------------
HAR119 300 675 0 281 147 -60
------------------------------------------------------------
HAR120 490 400 0 236 125 -55
------------------------------------------------------------
HAR121 2065 400 0 317 294 -55
------------------------------------------------------------
HAR122 645 300 0 308 270 -55
------------------------------------------------------------
HAR123 -1040 800 0 158 292 -55
------------------------------------------------------------
HAR124 630 900 0 239 282 -55
------------------------------------------------------------
HAR125 585 900 0 191 102 -55
------------------------------------------------------------
HAR126 615 410 0 201 294 -55
------------------------------------------------------------
HAR127 1210 300 0 182 114 -55
------------------------------------------------------------
HAR128 995 300 0 227 294 -55
------------------------------------------------------------
HAR129 650 400 0 245 299 -55
------------------------------------------------------------
HAR130 1100 475 0 230 309 -55
------------------------------------------------------------
HAR131 600 200 0 227 285 -55
------------------------------------------------------------
HAR132 532 820 0 317 90 -55
------------------------------------------------------------
HAR133 525 600 0 308 90 -55
------------------------------------------------------------
HAR134 271 560 0 476 75 -55
------------------------------------------------------------
HAR135 -200 475 0 458 153 -55
------------------------------------------------------------
HAR136 970 1400 0 253 290 -55
------------------------------------------------------------
HAR137 425 400 0 223 290 -55
------------------------------------------------------------
HAR138 300 200 0 328 290 -55
------------------------------------------------------------
HAR139(6) -1085 600 0 290 272 -65
------------------------------------------------------------
------------------------------------------------------------
Kus Area
------------------------------------------------------------
------------------------------------------------------------
KUS304 410 300 0 27 92 -55
------------------------------------------------------------
KUS305 409 300 0 200 92 -55
------------------------------------------------------------
KUS306 600 1200 0 200 92 -55
------------------------------------------------------------
------------------------------------------------------------
Maw Area
------------------------------------------------------------
------------------------------------------------------------
MAW083 600 400 0 233 315 -54
------------------------------------------------------------
------------------------------------------------------------
Ros Area
------------------------------------------------------------
------------------------------------------------------------
ROS008 620 200 0 194 298 -55
------------------------------------------------------------
ROS009 525 300 0 218 312 -55
------------------------------------------------------------
ROS010 590 200 0 203 277 -55
------------------------------------------------------------
ROS011 280 600 0 200 214 -55
------------------------------------------------------------
ROS012 630 500 0 200 269 -55
------------------------------------------------------------
ROS013 550 900 0 209 288 -55
------------------------------------------------------------
------------------------------------------------------------
(1) The grids for each target area and geophysical anomaly
holes are independent and separately oriented.
(6) HAR139 was in progress at month (period) end.
2006 Drill Hole Intersection Assay Results (7)
Mineral Deposit Targets
------------------------------------------------------------------------
------------------------------------------------------------------------
Hole Zone From To Core (8) Horiz. (9) Au Ag Cu% Zn%
meters meters Length Width g/t g/t
meters meters
------------------------------------------------------------------------
Watts River Target
------------------------------------------------------------------------
WRS007 East 81.00 84.10 3.10 2.39 0.11 9.54 0.00 0.14
------------------------------------------------------------------------
WRS007 Main 587.16 594.90 7.74 7.16 0.76 28.55 2.53 3.09
------------------------------------------------------------------------
WRS008 Main 405.00 409.41 4.41 3.81 0.11 6.91 1.42 0.09
------------------------------------------------------------------------
WRS009 East 169.82 171.45 1.63 1.08 0.34 37.12 0.51 2.73
------------------------------------------------------------------------
WRS009 Main 802.13 811.59 9.46 8.13 1.23 18.90 1.66 2.29
------------------------------------------------------------------------
------------------------------------------------------------------------
WRS010 Abandoned
------------------------------------------------------------------------
------------------------------------------------------------------------
WRS011 Main 647.30 648.32 1.02 1.05 1.07 37.38 2.64 2.66
------------------------------------------------------------------------
WRS012 Main 526.80 531.20 4.40 3.92 0.37 27.22 1.49 4.99
------------------------------------------------------------------------
WRS013 Main 115.80 121.46 5.66 5.70 0.94 32.03 2.11 2.16
------------------------------------------------------------------------
WRS014 Main 138.49 139.70 1.21 1.18 1.54 33.60 1.34 5.34
------------------------------------------------------------------------
WRS015 Main 146.31 147.00 0.69 0.61 0.10 44.57 0.10 12.54
------------------------------------------------------------------------
WRS016 Main 244.33 250.50 6.17 6.10 0.33 23.71 1.83 4.50
------------------------------------------------------------------------
------------------------------------------------------------------------
Bur Target
------------------------------------------------------------------------
------------------------------------------------------------------------
BZS008 Main 614.54 615.10 0.56 0.49 0.17 7.20 0.23 0.86
------------------------------------------------------------------------
BZS009 Main 921.05 922.14 1.09 0.78 0.05 10.83 0.07 1.39
------------------------------------------------------------------------
BZS010 Main 243.14 244.87 1.73 1.64 0.08 13.95 1.39 1.68
------------------------------------------------------------------------
BZS011 Main 276.37 279.32 2.95 2.58 0.03 20.32 3.19 6.89
------------------------------------------------------------------------
BZS011W1 Main 276.06 278.97 2.91 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
BZS011W2 Main 276.10 278.39 2.29 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
BZS012 Main 108.68 110.53 1.85 1.61 0.00 11.15 1.98 5.78
------------------------------------------------------------------------
BZS012W1 Main 108.62 109.54 0.92 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
BZS012W2 Main 108.41 109.74 1.33 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
BZS013 Main 135.63 137.60 1.97 1.70 0.05 25.66 2.76 7.24
------------------------------------------------------------------------
BZS013W1 Main 135.54 137.42 1.88 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
BZS013W2 Abandoned
------------------------------------------------------------------------
BZS013W3 Main 135.20 136.94 1.74 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
BZS014 Main 115.18 116.61 1.43 1.46 0.03 12.82 2.02 8.86
------------------------------------------------------------------------
BZS014W1 Main 115.00 116.05 1.05 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
BZS014W2 Main 114.96 116.20 1.24 not assayed - drilled for
metallurgical purposes
------------------------------------------------------------------------
------------------------------------------------------------------------
(7) Intersection assays pages 14 through 17 are either a single assay
of a sample of the entire intersection length or a composite of
assays calculated from interval weighted assays over the
intersection length.
(8) Intersection length
(9) Horiz. equals Horizontal
Holes with the suffix W1 to W3 were drilled to obtain a metallurgical
sample of the Bur Main Zone mineralization. Only the parent hole was
assayed.
2005 Drill Hole Intersection Assay Results (7)
Structural Targets
------------------------------------------------------------------------
------------------------------------------------------------------------
Hole Zone From To Core (8) Horiz. (9) Au Ag Cu% Zn%
meters meters Length Width g/t g/t
meters meters
------------------------------------------------------------------------
------------------------------------------------------------------------
Limestone Bay Target
------------------------------------------------------------------------
------------------------------------------------------------------------
LIM016 Main Abandoned
------------------------------------------------------------------------
LIM017 Main 268.00 273.50 5.50 3.40 0.20 2.98 0.80 0.01
------------------------------------------------------------------------
------------------------------------------------------------------------
Moose Lake Target
------------------------------------------------------------------------
------------------------------------------------------------------------
MAW084 Main 495.27 497.85 2.58 1.36 0.16 4.60 0.39 0.31
------------------------------------------------------------------------
------------------------------------------------------------------------
Fon Target
------------------------------------------------------------------------
------------------------------------------------------------------------
FON448D Red 588.00 590.10 2.10 1.80 0.06 1.62 0.12 0.46
------------------------------------------------------------------------
Red FW 632.10 632.25 0.15 0.13 0.24 72.69 0.00 7.23
------------------------------------------------------------------------
FON457 Blue HW 169.07 171.97 2.90 2.03 0.05 8.30 0.02 1.94
------------------------------------------------------------------------
Blue FW 274.52 274.82 0.30 0.26 0.07 0.00 0.00 0.00
------------------------------------------------------------------------
Amber 351.18 393.50 42.32 37.24 0.08 1.70 0.06 0.13
------------------------------------------------------------------------
Incl 351.46 351.84 0.38 0.33 0.10 3.43 0.00 2.30
------------------------------------------------------------------------
Incl 377.50 380.00 2.50 2.20 0.10 11.82 0.76 1.27
------------------------------------------------------------------------
Incl 378.93 379.30 0.37 0.33 0.31 52.46 3.36 5.79
------------------------------------------------------------------------
Red 445.21 446.54 1.33 1.40 0.05 2.12 0.16 0.40
------------------------------------------------------------------------
FON458 Blue HW 123.62 123.84 0.22 0.24 0.03 3.09 0.04 0.03
------------------------------------------------------------------------
Blue FW 262.87 272.67 9.80 10.78 0.05 1.43 0.02 0.35
------------------------------------------------------------------------
Incl 262.87 264.90 2.03 2.23 0.11 6.00 0.10 1.69
------------------------------------------------------------------------
Amber 307.03 322.18 15.15 16.67 0.03 0.36 0.02 0.05
------------------------------------------------------------------------
Incl 322.03 322.18 0.15 0.17 0.03 3.77 0.04 1.60
------------------------------------------------------------------------
Red 381.42 396.09 14.67 16.14 0.12 0.03 0.01 0.03
------------------------------------------------------------------------
------------------------------------------------------------------------
Chisel Mine Target
------------------------------------------------------------------------
------------------------------------------------------------------------
CH0601 Chisel
Horizon 581.20 584.69 3.49 3.20(10) 0.58 70.98 0.14 19.92
------------------------------------------------------------------------
CH0601W1
Chisel
Horizon 591.93 596.92 4.99 4.22(10) 0.27 48.82 0.18 14.36
------------------------------------------------------------------------
------------------------------------------------------------------------
Trout Lake Target
------------------------------------------------------------------------
------------------------------------------------------------------------
TS0601 Trout
Horizon 66.10 66.45 0.35 0.20 1.47 26.06 2.82 0.48
------------------------------------------------------------------------
TS0602 HLEM
anomaly No Significant Values
------------------------------------------------------------------------
TS0603 Trout
Horizon 144.70 145.00 0.30 0.17 0.51 8.23 0.35 0.02
------------------------------------------------------------------------
TS0604 HLEM
anomaly No Significant Values
------------------------------------------------------------------------
TS0605 Trout
Horizon No Significant Values
------------------------------------------------------------------------
(7) Intersection assays pages 14 through 17 are either a single assay of
a sample of the entire intersection length or a composite of assays
calculated from interval weighted assays over the intersection
length.
(8) Intersection length
(9) Horiz. equals Horizontal
(10) Vertical width, not horizontal width
2006 Drill Hole Intersection Assay Results (7)
Geophysical Targets
------------------------------------------------------------------------
------------------------------------------------------------------------
Hole Zone From To Core(8) Horiz.(9) Au Ag Cu% Zn%
meters meters Length Width g/t g/t
meters meters
------------------------------------------------------------------------
------------------------------------------------------------------------
Har Area
------------------------------------------------------------------------
------------------------------------------------------------------------
HAR111 Anomaly 267.60 270.00 2.40 1.39 0.03 6.70 0.04 0.45
------------------------------------------------------------------------
HAR111 Anomaly 269.10 270.00 0.90 0.53 0.07 10.29 0.06 0.86
------------------------------------------------------------------------
HAR111 Anomaly 272.40 273.00 0.60 0.36 0.03 4.80 0.04 0.39
------------------------------------------------------------------------
HAR111 Anomaly 277.60 278.50 0.90 0.54 0.00 3.43 0.03 0.37
------------------------------------------------------------------------
HAR112 Anomaly 403.55 404.30 0.75 0.44 0.00 32.91 0.30 1.77
------------------------------------------------------------------------
HAR112 Anomaly 413.25 414.00 0.75 0.44 0.00 9.94 0.09 0.62
------------------------------------------------------------------------
HAR112 Anomaly 421.00 423.20 2.20 1.32 0.00 7.36 0.05 0.63
------------------------------------------------------------------------
HAR112 Anomaly 425.25 426.55 1.30 1.26 0.05 11.80 0.05 1.27
------------------------------------------------------------------------
HAR112 Anomaly 430.30 431.20 0.90 0.87 0.00 5.49 0.06 1.13
------------------------------------------------------------------------
HAR113 Anomaly No Significant Values
------------------------------------------------------------------------
HAR114 Anomaly No Significant Values
------------------------------------------------------------------------
HAR115 Anomaly No Significant Values
------------------------------------------------------------------------
HAR116 Anomaly No Significant Values
------------------------------------------------------------------------
HAR117 Anomaly No Significant Values
------------------------------------------------------------------------
HAR118 Anomaly No Significant Values
------------------------------------------------------------------------
HAR119 Anomaly 214.20 215.20 1.00 0.76 0.72 0.00 0.00 0.00
------------------------------------------------------------------------
HAR120 Anomaly No Significant Values
------------------------------------------------------------------------
HAR121 Anomaly 188.00 189.00 1.00 0.82 0.03 5.49 0.30 0.04
------------------------------------------------------------------------
HAR121 Anomaly 204.00 204.35 0.35 0.29 0.14 12.34 1.00 3.43
------------------------------------------------------------------------
HAR121 Anomaly 205.00 205.10 0.10 0.08 0.07 48.34 2.19 3.32
------------------------------------------------------------------------
HAR121 Anomaly 207.65 209.00 1.35 1.13 0.25 25.24 1.17 3.10
------------------------------------------------------------------------
HAR122 Anomaly No Significant Values
------------------------------------------------------------------------
HAR123 Anomaly 79.00 79.85 0.85 0.64 0.82 0.00 0.02 0.00
------------------------------------------------------------------------
HAR124 Anomaly No Significant Values
------------------------------------------------------------------------
HAR125 Anomaly No Significant Values
------------------------------------------------------------------------
HAR126 Anomaly No Significant Values
------------------------------------------------------------------------
HAR127 Anomaly No Significant Values
------------------------------------------------------------------------
HAR128 Anomaly No Significant Values
------------------------------------------------------------------------
HAR129 Anomaly No Significant Values
------------------------------------------------------------------------
HAR130 Anomaly No Significant Values
------------------------------------------------------------------------
HAR131 Anomaly No Significant Values
------------------------------------------------------------------------
HAR132 Anomaly No Significant Values
------------------------------------------------------------------------
HAR133 Anomaly No Significant Values
------------------------------------------------------------------------
HAR134 Anomaly No Significant Values
------------------------------------------------------------------------
HAR135 Anomaly No Significant Values
------------------------------------------------------------------------
HAR136 Anomaly No Significant Values
------------------------------------------------------------------------
HAR137 Anomaly 159.97 160.11 0.14 0.11 0.03 0.69 0.30 0.00
------------------------------------------------------------------------
HAR138 Anomaly 243.50 243.90 0.40 0.31 0.07 0.00 0.34 0.02
------------------------------------------------------------------------
HAR138 Anomaly 326.00 327.00 1.00 0.80 0.03 1.37 0.28 0.04
------------------------------------------------------------------------
HAR139 Anomaly No Significant Values
------------------------------------------------------------------------
(7) Intersection assays pages 14 through 17 are either a single assay of
a sample of the entire intersection length or a composite of assays
calculated from interval weighted assays over the intersection
length.
(8) Intersection length
(9) Horiz. equals Horizontal
2006 Drill Hole Intersection Assay Results (7)
Geophysical Targets
------------------------------------------------------------------------
------------------------------------------------------------------------
Hole Zone From To Core(8) Horiz.(9) Au Ag Cu% Zn%
meters meters Length Width g/t g/t
meters meters
------------------------------------------------------------------------
------------------------------------------------------------------------
Kus Area
------------------------------------------------------------------------
------------------------------------------------------------------------
KUS304 Anomaly Abandoned
------------------------------------------------------------------------
KUS305 Anomaly No Significant Values
------------------------------------------------------------------------
KUS306 Anomaly 122.00 123.00 1.00 0.80 3.53 0.00 0.00 0.00
------------------------------------------------------------------------
Maw Area
------------------------------------------------------------------------
MAW083 Anomaly No Significant Assays
------------------------------------------------------------------------
------------------------------------------------------------------------
Ros Area
------------------------------------------------------------------------
------------------------------------------------------------------------
ROS008 Anomaly No Significant Values
------------------------------------------------------------------------
ROS009 Anomaly No Significant Values
------------------------------------------------------------------------
ROS010 Anomaly 176.23 176.80 0.57 0.26 0.17 5.14 0.24 2.69
------------------------------------------------------------------------
ROS011 Anomaly No Significant Values
------------------------------------------------------------------------
ROS012 Anomaly No Significant Values
------------------------------------------------------------------------
ROS013 Anomaly 132.95 134.14 1.19 0.61 3.29 0.00 0.00 0.00
------------------------------------------------------------------------
(7) Intersection assays pages 14 through 17 are either a single assay of
a sample of the entire intersection length or a composite of assays
calculated from interval weighted assays over the intersection
length.
(8) Intersection length
(9) Horiz. equals Horizontal
FOR FURTHER INFORMATION PLEASE CONTACT:
HudBay Minerals Inc.
Don Bain
Director, Investor Relations
(204) 949-4272
(204) 942-8177 (FAX)
don.bain@hbms.ca
www.hudbayminerals.com