View all news

Hudbay Announces Exploration Drilling in South West Ontario

November 05, 2007

WINNIPEG, MANITOBA, Nov 5, 2007 (Marketwire via COMTEX News Network) -- HudBay Minerals Inc. (TSX:HBM) (HudBay) today announced that it expects to commence drilling on its South Western Ontario zinc mineral properties, in November 2007.

HudBay expects to drill up to four drill holes to a depth in the order of 300 metres each to test coincident geophysical and geochemical anomalies. The holes will be near the communities of Mount Forest and Harriston. HudBay's exploration land holdings in this area comprises approximately 10,900 hectares and is located approximately 70 kilometres, northwest of Kitchener, Ontario.

Exploration in the area began in the 1970's when anomalous zinc and other elements associated with Mississippi Valley Type zinc deposits were identified during survey of ground waters. Anomalous areas identified were followed up with soil geochemical surveys and Quantec Titan 24 geophysical surveys in 2001.

This phase of HudBay's exploration in the area is an early stage exploration project. Drilling was attempted to test one of these targets in 2004 but abandoned due to inclement weather and hole deviation prior to reaching the target depth. No other drilling has been done on the property for mineral exploration.

The exploration area is well developed for agricultural purposes and industrial infrastructure exists nearby. Consistent with HudBay's consultative approach, the company is in the process of meeting with the local communities and agencies to seek input into its exploration plans in the area.

About HudBay Minerals Inc.

HudBay is an integrated mining company operating mines, concentrators and a metal production facility in northern Manitoba and Saskatchewan. HudBay also owns a zinc oxide production facility in Ontario, the White Pine copper refinery in Michigan and the Balmat zinc mine operations in New York state. HudBay is a member of the S&P/TSX Composite Index and a member of the S&P/TSX Global Mining 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 HudBay's future exploration plans. Generally, forward-looking information 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 information is 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 information, including risks associated with the mining industry such as economic factors as they effect exploration, future commodity prices, government regulation, environmental risks, permitting timelines, capital expenditures, changes in project parameters as plans continue to be refined as well as those factors discussed in the section entitled "Risk Factors" in HudBay's Annual Information Form for the year ended December 31, 2006, available on Although HudBay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. HudBay does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE: HudBay Minerals Inc.

HudBay Minerals Inc.
Brad Woods
Director, Investor Relations
(204) 949-4272

Copyright (C) 2007 Marketwire. All rights reserved.

News Provided by COMTEX

Categories: Press Releases
View all news