In their second quarter 2020 update Hudbay reported on their recent 1901 discovery near Snow Lake. President Peter Kukielski says drilling has continued to define the extent and geometry of the deposit which is located between the former Chisel North Mine and the Lalor Mine. He explains the 2020 drill program was successful in defining an initial inferred resource estimate for the gold zone of 500 thousand tonnes at 6.8 grams per tonne gold. Total gold resources have significantly increased with 122 thousand ounces in measured and indicated and 137 thousand ounces in inferred compared to a total of 58 thousand ounces previously which continues to demonstrate the gold potential of the Snow Lake camp.
Kukielski adds the company is engaged in engineering activities to develop a viable mine plan for the 1901 deposit expecting to complete a feasibility study in the first half of 2021.