The UCB is an innovative, patent- pending method designed to control the release of seismic energy to improve miner safety and increases productivity in deep narrow vein mining. “Hecla is honored to receive this prestigious award for our invention of this new mining method,” said Hecla President and CEO Phil Baker in a keynote speech to SME members. “For 132 years, Hecla has been known for innovations such as the UCB method because of our long-term mindset, commitment to an ever-learning team, and the relentless drive to improve safety.”

Baker continued, “Using the UCB at the Lucky Friday Mine has dramatically increased both safety and productivity at this 80-year-old mine achieving safety and production records in 2022. With the mine’s increasing grades combined with higher production and improved safety, I am convinced the best decade of the Lucky Friday is ahead of it.”

In related news, Hecla recently reported the highest silver reserves in its more than 130-year history and provided an update on its exploration activity. The company’s year-end 2022 silver reserves increased to more than 240 million oz with the addition of Keno Hill’s almost 50 million oz of silver. “Hecla’s silver reserves are at an alltime high,” Baker said. “In the past 15 years, we have replaced the 213 million oz mined and yet have almost five times the reserves we had at the start of 2008. That is over 400 million oz of silver that we have replaced and grown. We now have a half dozen silver properties to explore, primarily in the US and Canada, the most recent addition being the 88 square mile Keno Hill project in the Yukon.”

Drill testing of new targets at the Silver King, Coral-Wigwam, and Hector- Calumet confirmed the occurrence of favorable vein structures and high-grade silver mineralization in all three areas at Keno Hill. Exploration and definition drilling at Greens Creek in Alaska defined and expanded mineralization on strike with strong assay results from the Southwest Bench, 200 South, East, West, and Upper Plate ore zones.

“Keno Hill’s 2022 exploration results are particularly remarkable, with only three targets drilled that all resulted in three meaningful, high-grade discoveries,” Baker said. “This reflects the quality of the land position and the knowledge of the long-standing team who have taken their experience at Bermingham and applied it to the new targets. These initial results exceed our already high expectations for the exploration potential of the district.”

On a consolidated basis, Hecla replaced the 14 million oz of silver produced during the year and increased proven and probable reserves by 21%, or 41 million oz over 2021. The increase was primarily due to the acquisition of Keno Hill. The company’s gold production of more than 180,000 oz was not replaced and proven and probable reserves declined 6% to 2.6 million oz due to cost increases, which increased the cut-off grade at Casa Berardi in Quebec. Zinc production was replaced, and reserves increased 4% to 944,000 tons. Lead production of 55,000 tons was replaced with an increase of 7% to 785,000 tons of reserves.