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.
(HBM-G)
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 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
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
Email: brad.woods@hbms.ca
Website: www.hudbayminerals.com
Copyright (C) 2007 Marketwire. All rights reserved.
News Provided by COMTEX