Business
Hudbay Minerals Announces Significant New Discovery at its Copper World Properties Adjacent to Rosemont
Drill hole #035A intersected 500 feet of 0.82% copper starting at surface Drill hole #012 intersected 246 feet of 0.70% copper starting at surface Drill hole #0
About this update from Hudbay Minerals Inc
[{"type":"text","content":" Drill hole #035A intersected 500 feet of 0.82% copper starting at surface Drill hole #012 intersected 246 feet of 0.70% copper starting at surface Drill hole #011 intersected 440 feet of 1.38% copper All new intersections are on Hudbay’s wholly-owned private land TORONTO, March 29, 2021 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today announced the intersection of high-grade copper sulphide and oxide mineralization at shallow depth on its wholly-owned patented mining claims located within seven kilometres of its Rosemont copper project in Arizona. The drill program was initiated in 2020 to confirm historical drilling in this past-producing copper region formerly known as Helvetia. After receiving encouraging initial results, the company launched a larger drill program in early 2021 and has since doubled the number of drill rigs at site to six to further test the four known deposits at Copper World and the potential for additional mineralization. “This new discovery on our private land in Arizona demonstrates our team’s strong expertise in exploration,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “They saw an opportunity to consolidate mineralization in the region and we are excited to continue to explore Copper World while remaining committed to advancing Rosemont through the appeals process.” Regional View of Copper World The Copper World deposits are located adjacent to the Rosemont deposit as shown in the plan view in Figure 1. To date, four deposits have been identified with a combined strike length of over five kilometres with opportunities to discover additional mineralization between the deposits. The mineralization occurs at shallower depths than at Rosemont as shown in Figure 2. “We are very encouraged by the results from the recent drill program at Copper World, where we have intersected copper mineralization that contains higher grades closer to surface than at Rosemont,” said Cashel Meagher, Hudbay’s Senior Vice President and Chief Operating Officer. “Copper World has the potential to host at least four economic deposits with a relatively low strip ratio and may prove to be a viable open-pit operation that is either separate from or additive to our Rosemont project.” The Copper World region has a rich history of mining from 1874 to 1969, during whi...