Lalor Mine
Mineral Reserve and Resource Estimates1,2,3,4
|
Tonnes
|
Cu Grade
(%)
|
Zn Grade
(%)
|
Au Grade
(g/t)
|
Ag Grade
(g/t)
|
|
Base Metal Zone Reserves
|
| Proven |
7,276,000 |
0.57 |
6.27 |
2.42 |
29 |
| Probable |
1,739,000 |
0.60 |
4.15 |
3.83 |
31 |
| Gold Zone Reserves |
| Proven |
1,748,000 |
1.37 |
1.11 |
6.70 |
24 |
| Probable |
4,251,000 |
0.83 |
0.42 |
6.21 |
27 |
|
Total proven and probable
|
15,015,000
|
0.74
|
3.77
|
4.16
|
28
|
|
Base Metal Zone Resources
|
| Inferred |
454,000 |
0.34 |
7.32 |
2.16 |
21 |
|
Gold Zone Resources
|
| Inferred |
3,945,000 |
1.31 |
0.31 |
4.69 |
26 |
|
Total inferred
|
4,399,000
|
1.21
|
1.03
|
4.43
|
26
|
Note: totals may not add up correctly due to rounding.
1 Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability.
2 Mineral reserves and resources calculated using metal prices of $1.17 per pound zinc (includes premium), $1,375 per ounce gold, $3.10 per pound copper, $17.00 per ounce of silver.
3 Mineral reserves are estimated at an NSR cut-off of $101 per tonne for waste filled mining areas and a minimum of $113 per tonne for paste filled mining areas.
4 Mineral resources are estimated at a minimum NSR cut-off of $101 per tonne.
Note: totals may not add up correctly due to rounding.
1 WIM mineral reserves are estimated at a minimum net smelter return (“NSR”) cut-off of C$150 per tonne, assuming processing recoveries of 98% for copper, 88% for gold and 70% for silver, and using long-term prices of $3.10 per pound copper, $1,375 per ounce gold and $17.00 per ounce silver. 3 Zone mineral reserves are estimated at a minimum NSR cut-off of C$150 per tonne, assuming processing recoveries of 85% for gold, and using a long-term price of $1,375 per ounce gold.
2 Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability. New Britannia mineral resource estimates have been reported at a minimum true width of 1.5 metres and with a cut-off grade varying from 2 grams per tonne (at the lower part of New Britannia) to 3.5 grams per tonne (at the upper part of New Britannia).
Note: totals may not add up correctly due to rounding.
1 Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability. 1901 mineral resources are estimated at a minimum NSR cut-off of $170 per tonne, assuming processing recoveries of 73% for copper, 94% for zinc, 48% for gold and 47% for silver, and using long-term prices of $3.10 per pound copper, $1,260 per ounce gold, $1.10 per pound zinc and $18.00 per ounce silver. Watts mineral resources are estimated at a minimum NSR cut-off of $150 per tonne, assuming processing recoveries of 87% for copper, 80% for zinc, 65% for gold and 64% for silver, and using long-term prices of $3.10 per pound copper, $1,375 per ounce gold, $1.10 per pound zinc and $17.00 per ounce silver. Pen II mineral resources are estimated at a minimum NSR cut-off of $75 per tonne and assume that the Pen II mineral resources would be amenable to processing at the Stall mill.
777 Mine
Mineral Reserve and Resource Estimates1
|
Tonnes
|
Cu Grade
(%)
|
Zn Grade
(%)
|
Au Grade
(g/t)
|
Ag Grade
(g/t)
|
|
Mineral Reserves
|
| Proven |
2,122,000 |
1.44 |
4.55 |
2.01 |
27 |
| Probable |
459,000 |
1.11 |
4.11 |
1.75 |
26 |
| Total proven and probable |
2,581,000 |
1.38 |
4.47 |
1.96 |
27 |
|
Mineral Resources
|
| Measured |
370,000 |
2.02 |
3.69 |
1.97 |
25 |
| Indicated |
140,000 |
1.02 |
3.85 |
1.57 |
26 |
| Total Measured and Indicated |
510,000 |
1.75 |
3.74 |
1.86 |
26 |
| Inferred |
210,000 |
1.48 |
5.22 |
3.11 |
40 |
Note: totals may not add up correctly due to rounding.
1 Mineral resources are exclusive of mineral reserves and do not have demonstrated economic
viability. Mineral reserves and resources calculated using life-of-mine (2020-2022) average metal prices
of $2.92 per pound copper, $1.11 per pound zinc (includes premium), $1,392 per ounce gold, $16.33 per
ounce silver and using a C$/US$ exchange rate of 1.30.
Constancia Mine
Mineral Reserve and Resource
Estimates1
|
Tonnes
|
Cu Grade
(%)
|
Mo Grade
(g/t)
|
Au Grade
(g/t)
|
Ag Grade
(g/t)
|
|
Constancia Reserves
|
| Proven |
408,800,000 |
0.28 |
85 |
0.035 |
2.76 |
| Probable |
77,500,000 |
0.27 |
70 |
0.044 |
3.58 |
|
Total proven and probable - Constancia
|
486,300,000
|
0.28
|
83
|
0.036
|
2.89
|
|
Pampacancha Reserves
|
| Proven |
32,400,000 |
0.59 |
178 |
0.368 |
4.48 |
| Probable |
7,500,000 |
0.62 |
173 |
0.325 |
5.75 |
| Total proven and probable - Pampacancha |
39,900,000 |
0.60 |
177 |
0.360 |
4.72 |
|
Total proven and probable
|
526,600,000
|
0.30
|
90
|
0.061
|
3.03
|
|
Constancia Resources
|
| Measured |
122,700,000 |
0.18 |
55 |
0.028 |
1.77 |
| Indicated |
154,300,000 |
0.20 |
65 |
0.033 |
1.87 |
| Inferred |
83,100,000 |
0.18 |
43 |
0.036 |
3.39 |
|
Pampacancha Resources
|
| Measured |
11,400,000 |
0.41 |
101 |
0.245 |
4.95 |
| Indicated |
6,000,000 |
0.35 |
84 |
0.285 |
5.16 |
| Inferred |
10,100,000 |
0.14 |
143 |
0.233 |
3.86 |
|
Total measured and indicated
|
294,400,000
|
0.20
|
63
|
0.045
|
2.01
|
|
Total inferred
|
93,200,000
|
0.18
|
54
|
0.057
|
3.44
|
Note: totals may not add up correctly due to rounding.
1 Mineral resources are exclusive of mineral reserves and do not have demonstrated economic viability. Mineral reserves and resources calculated using metal prices of $3.10 per pound copper, $11.00 per pound molybdenum, $17.00 per ounce silver and $1,375 per ounce gold. The Constancia and Pampacancha reserve pits consist of operational pits of proven and probable reserves and are based on metal prices noted, metallurgical recoveries applied by ore type (between 84.4% to 90.5%), and processing costs of $4.54 per tonne milled, general and administrative costs of $1.60 per tonne milled and mining costs of $1.30 and $1.35 per tonne moved (waste and ore, respectively).
Rosemont Project
Mineral Reserve Estimates(1)(2)(3)
|
Tonnes
|
Cu
(%)
|
Mo
(%)
|
Ag
(g/t)
|
| Proven |
426,100,000 |
0.48 |
0.012 |
4.96 |
| Probable |
111,000,000 |
0.31 |
0.010 |
3.09 |
| Total proven and probable |
537,100,000 |
0.45 |
0.012 |
4.58 |
Note: totals may not add up correctly due to rounding.
1 Blocks were classified as Proven or Probable in accordance with CIM Definition Standards 2014
2 Mineral resources are constrained within a computer generated pit using the Lerchs-Grossman algorithm. Metal prices of
US$3.15 per pound copper, US$11.00 per pound molybdenum and US$18.00 per ounce of silver were used. Metallurgical
recoveries of 90% copper, 63% molybdenum and 75.5% silver were applied. No metallurgical recovery of molybdenum and silver
from oxide ore is projected.
3 Based on 100% ownership of the Rosemont project.
|
Mineral Resource Estimates(1)(2)(3)
|
Tonnes
|
Cu
(%)
|
Mo
(%)
|
Ag
(g/t)
|
| Measured |
161,300,000 |
0.38 |
0.009 |
2.72 |
| Indicated |
374,900,000 |
0.25 |
0.011 |
2.60 |
| Total Measured & Indicated |
536,200,000 |
0.29 |
0.011 |
2.64 |
| Total Inferred |
62,300,000 |
0.30 |
0.010 |
1.58 |
1 Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Schedule A
“Glossary of Mining Terms” in our Annual Information form dated March 29, 2020.
2 Mineral resources are constrained within a computer generated pit using the Lerchs-Grossman algorithm. Estimates of mineral
resources are based on the following long-term metals prices: $3.15 per pound of copper; $11.00 per pound of molybdenum; and
$18.00 per ounce of silver. Metallurgical recoveries of 85% copper, 60% molybdenum and 75% silver were applied to sulfide
material. Metallurgical recoveries of 40% copper, 30% molybdenum and 40% silver were applied to mixed material. A
metallurgical recovery of 65% for copper was applied to oxide material. NSR was calculated for every model block and is an
estimate of recovered economic value of copper, molybdenum, and silver combined. Cut-off grades were set in terms of NSR
based on current estimates of process recoveries, total processing and general and administrative operating costs of $5.70 per
ton for oxide, mixed and sulfide material.
3 Based on 100% ownership of the Rosemont project.
Mason Project
Mineral Resource Estimates(1)(2)
|
Tonnes
|
Cu
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
Mo
(%)
|
| Measured & Indicated |
1,400,000,000 |
0.32 |
0.03 |
0.65 |
0.006 |
| Inferred |
623,000,000 |
0.29 |
0.03 |
0.66 |
0.007 |
1 Mineral resources that are not mineral reserves do not have demonstrated economic viability.
2 For additional details relating to the estimates of mineral resources at the Mason project, refer to the technical report dated
March 3, 2017 and filed on SEDAR by Mason Resources Corp.
Qualified Person
The technical and scientific information contained on this website related to the Constancia mine and Rosemont
project has been approved by Cashel Meagher, P. Geo, Hudbay’s Senior Vice President and Chief Operating Officer.
The technical and scientific information related to the company’s other material mineral projects contained on
this website has been approved by Olivier Tavchandjian, P. Geo, Hudbay’s Vice-President Exploration and Geology.
Messrs. Meagher and Tavchandjian are qualified persons pursuant to NI 43 101. For a description of the key
assumptions, parameters and methods used to estimate mineral reserves and resources at Hudbay’s material
properties, as well as data verification procedures and a general discussion of the extent to which the
estimates of scientific and technical information may be affected by any known environmental, permitting, legal
title, taxation, sociopolitical, marketing or other relevant factors, please see the technical reports for the
company’s material properties as filed by Hudbay on SEDAR at www.sedar.com.