Hudbay has announced increased mineral reserves and resources for its Lalor Mine and nearby satellite deposits and a new mine plan that includes the processing of gold and copper-gold ore at their New Britannia Mill which is expected to be in production in 2022.  Hudbay President Alan Hair says at Lalor there will be an increase in gold production.  He reports Lalor’s annual gold production is expected to more than double from current levels once the New Britannia mill is refurbished with annual production of approximately 140 thousand ounces during the first five years at a sustaining cash cost net of byproduct credits of 450 dollars per ounce and that will make Lalor one of the lowest cost gold mines in Canada.

Hair adds the updated resource model at Lalor includes 5.9 million tonnes of inferred mineral resources which has the potential to extend the mine life beyond ten years while feeding both Stall and New Britannia mills and their extensive land package in the Chisel Basin and around Snow Lake provides significant additional upside for further gold and base metals exploration.