Bradford Cooke, CEO and Director, commented, “Our mining operations group is to be commended for delivering another solid year of production in 2015. Guanaceví continued to perform better than plan and the completion of the Phase 2 mine expansion from 1,500 tpd to 2,200 tpd at El Cubo was a significant achievement, offsetting the planned lower production from Bolañitos.
Despite a difficult metals market, Heclas production continues to grow, setting the 2nd consecutive annual silver production record, said Phillips S. Baker, Jr., Heclas President and CEO. All three mines exceeded guidance and San Sebastian has begun production. We are continuing to see results from our strategy of investing in production growth, causing our silver equivalent production to be the most in our 125-year history. This growth, along with cost controls and focused investment, puts Hecla in a good position now and when metals prices rebound.
This wide and high grade silver vein at San Ramon Deeps Zone was discovered in 2014 and now provides 40% of total production tonnage. To date this vein has been exposed in mine workings on Levels 16.5, 18, 19 and 20 over a minimum length of 180 meters where it continues to be open for expansion and has true widths of two to seventeen meters. The drill holes in this news release outlined the vein to a vertical distance of 10 to 55 meters below the current mine workings.
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