Hudbay Announces Significant New Discovery at its Copper World Properties Adjacent to Rosemont
Hudbay Minerals announced significant copper intersections at its Copper World project in Arizona. Key drill results include 500 feet of 0.82% copper from hole #035A and 440 feet of 1.38% copper from hole #011. The company has increased its drilling efforts to a total of six rigs to further explore four known deposits. The project demonstrates potential for economic open-pit operations due to shallow mineralization and favorable grades. Hudbay's 2021 exploration budget for Arizona is approximately $10 million.
- Drill hole #035A intersected 500 feet of 0.82% copper from surface.
- Drill hole #011 intersected 440 feet of 1.38% copper, including 70 feet of 4.2% copper.
- High-grade copper mineralization found at shallow depths, enhancing economic potential.
- Increased drill rigs to six to further explore Copper World deposits.
- None.
- 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 which time more than 20 small underground mines produced a total of approximately 440,000 tons at an average copper grade of
A three-dimensional visualization of the Copper World drill results can be found at the link noted below. This visual shows the location of the Copper World targets, the historical mine sites in the area, the historical drilling coverage (the results of which are under review and will be reported once the data is validated by Hudbay in accordance with NI 43-101), as well as drill hole intercepts from Hudbay’s 2020 drill campaign.
https://vrify.com/embed/decks/Hudbay-PR-Deck-03-29
Copper World 2020 Drill Program
Hudbay’s 2020 exploration work began by compiling and validating all historical data on its private land claims and refining the geological model. This initial review included the discovery of records of historical drilling results for which assay results cannot be disclosed until the data is validated by Hudbay in accordance with NI 43-101. However, this review suggested the potential for both copper sulphide and oxide mineralization in skarns and porphyries near surface in several areas. In September 2020, the company initiated a 15,000-foot drill program which was quickly expanded to a 40,000-foot drill program after early encouraging intersections of mineralization. During this initial program, three drill rigs focused on testing the Broad Top Butte, Copper World, Peach and Elgin targets (referred to collectively as the “Copper World deposits”).
Hudbay has recently received the assay results from the 2020 drill program and the results have exceeded Hudbay’s expectations. The program confirmed the discovery of four new deposits based on significant volumes of high-grade copper sulphide and oxide mineralization starting, in most cases, near surface or at shallow depth.
Broad Top Butte Targets
- Drill hole #011 intersected 440 feet of
1.38% copper, including 70 feet of4.2% copper - Drill hole #012 intersected 246 feet of
0.70% copper starting at surface - Drill hole #023 intersected 300 feet of
0.91% copper
The 2020 drilling at Broad Top Butte confirmed the occurrence of significant shallow copper oxide and sulphide mineralization. Sulphide mineralization was found in a quartz-monzonite porphyry intrusive and in surrounding skarns at the contact with carbonate units in a similar geological setting as Rosemont. Drill hole #011 intersected a very strong mineralized zone of 440 feet of
Peach and Elgin Targets
- Drill hole #035A intersected 500 feet of
0.82% copper starting at surface - Drill hole #037 intersected 600 feet of
0.40% copper starting at surface - Drill hole #048 intersected 280 feet of
0.46% copper starting at surface - Drill hole #051 intersected 140 feet of
1.01% copper starting at surface - Drill hole #062 intersected 300 feet of
0.64% copper starting at surface
All of the 2020 drill holes at the Peach target included at least one significant mineralized intercept. Many included high-grade thick intercepts starting at or very near surface, with significant copper oxide in the upper portion of the profile. Drill hole #035A intersected 500 feet of
At the Elgin target, shallow mineralization also starts at surface in most cases. Drill hole #051 intersected 140 feet of
Next Steps
Given the very positive results from last year’s drill program, Hudbay initiated a second phase of exploration drilling in 2021 with a 70,000 foot follow-up drill program and has doubled the number of drill rigs operating at site to six. The 2021 program will focus on developing an understanding of the full extent of the mineralization at the Copper World deposits and potentially defining initial mineral resource estimates. Mineralogical studies and metallurgical testing have also been initiated and are expected to continue in the coming months. Geophysical surveys are underway to assist in generating further targets in this prolific region. Hudbay has a current exploration budget of approximately
Copper World Detailed Assay Results
Broad Top Butte - Copper World
| Hole ID# | From (ft) | To (ft) | Length (ft) | Length (m) | Cu1 (%) | Ag1 (g/t) | CuSS1,2 (%) | Mo1 (g/t) | Location |
| 002 | No significant mineralization | Broad Top | |||||||
| 005 | 15 | 48 | 33 | 10 | 0.75 | 19.2 | 0.53 | 121 | Broad Top |
| 005 | 48 | 133 | 85 | 26 | 1.43 | 8.7 | 0.05 | 206 | Broad Top |
| 006 | 0 | 340 | 340 | 104 | 0.43 | 3.0 | pending | 173 | Broad Top |
| 007 | 0 | 121 | 121 | 37 | 0.19 | 1.2 | 0.11 | 13 | Broad Top |
| 007 | 121 | 415 | 294 | 90 | 0.52 | 2.8 | 0.06 | 198 | Broad Top |
| 008 | No significant mineralization | Broad Top | |||||||
| 009 | No significant mineralization | Broad Top | |||||||
| 010 | 0 | 180 | 180 | 55 | 0.20 | 1.5 | 0.13 | 83 | Broad Top |
| 011 | 365 | 805 | 440 | 134 | 1.38 | 6.2 | 0.04 | 33 | Broad Top |
| 014 | No significant mineralization | Broad Top | |||||||
| 015 | 0 | 290 | 290 | 88 | 0.28 | 1.2 | 0.16 | 105 | Broad Top |
| 016 | 0 | 280 | 280 | 85 | 0.71 | 3.7 | 0.29 | 149 | Broad Top |
| 017 | 55 | 425 | 370 | 113 | 0.30 | 1.1 | 0.22 | 151 | Broad Top |
| 018 | 0 | 524 | 524 | 160 | 0.30 | 2.3 | 0.01 | 97 | Broad Top |
| 019 | 0 | 675 | 675 | 206 | 0.44 | 1.7 | 0.12 | 190 | Broad Top |
| 020 | 0 | 357 | 357 | 109 | 0.59 | 3.6 | 0.23 | 161 | Broad Top |
| 023 | 100 | 400 | 300 | 91 | 0.91 | 2.7 | 0.48 | 196 | Broad Top |
| 024A | 130 | 500 | 370 | 113 | 0.33 | 1.1 | 0.25 | 184 | Broad Top |
| 027 | 310 | 450 | 140 | 43 | 0.39 | 2.4 | 0.10 | 64 | Broad Top |
| 032 | No significant mineralization | Broad Top | |||||||
| 012 | 0 | 246 | 246 | 75 | 0.70 | 3.3 | 0.53 | 42 | Broad Top |
| 013 | 0 | 60 | 60 | 18 | 0.37 | 1.4 | 0.29 | 15 | Broad Top |
| 013 | 190 | 335 | 145 | 44 | 0.38 | 2.2 | 0.17 | 50 | Broad Top |
| 034 | 80 | 195 | 115 | 35 | 0.67 | 4.0 | 0.17 | 53 | Broad Top |
| 001 | No significant mineralization | Copper World | |||||||
| 003 | 6 | 217 | 211 | 64 | 0.38 | 1.4 | 0.04 | 333 | Copper World |
| 004 | 26 | 122 | 96 | 29 | 0.30 | 3.9 | 0.20 | 28 | Copper World |
Note: Assay results are length-weighted because no specific gravity data is available. At this early stage of exploration, Hudbay does not have sufficient knowledge of the geometry of the mineralization to estimate true width.
- All copper, silver and molybdenum values are uncut.
- CuSS shows the average grade of soluble copper in sulfuric acid.
Peach
| Hole ID# | From (ft) | To (ft) | Length (ft) | Length (m) | Cu1 (%) | Ag1 (g/t) | CuSS1,2 (%) | Mo1 (g/t) |
| 021 | 0 | 250 | 250 | 76 | 0.31 | 6.7 | 0.23 | 36 |
| 022 | 0 | 300 | 300 | 91 | 0.32 | 2.0 | 0.14 | 29 |
| 025 | 0 | 150 | 150 | 46 | 0.34 | 2.4 | 0.24 | 119 |
| 025 | 320 | 393 | 73 | 22 | 0.39 | 1.2 | 0.19 | 102 |
| 026 | 0 | 390 | 390 | 119 | 0.35 | 3.2 | 0.21 | 228 |
| 029 | 0 | 370 | 370 | 113 | 0.36 | 2.9 | 0.27 | 15 |
| 031 | 0 | 335 | 335 | 102 | 0.50 | 3.1 | 0.21 | 42 |
| 035A | 0 | 500 | 500 | 152 | 0.82 | 4.3 | 0.33 | 53 |
| 037 | 0 | 600 | 600 | 183 | 0.40 | 2.7 | 0.13 | 60 |
| 039 | 0 | 460 | 460 | 140 | 0.44 | 2.9 | 0.19 | 77 |
| 041 | 260 | 440 | 180 | 55 | 0.29 | 3.7 | 0.02 | 112 |
| 042 | 0 | 160 | 160 | 49 | 0.42 | 4.4 | 0.28 | 63 |
| 045 | 180 | 610 | 430 | 131 | 0.32 | 3.2 | 0.04 | 96 |
| 046 | 0 | 220 | 220 | 67 | 0.37 | 4.8 | 0.27 | 78 |
| 046 | 390 | 490 |
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FAQ
What are the recent drilling results for Hudbay Minerals (HBM) at Copper World?
Hudbay Minerals' recent drilling at Copper World revealed significant results, including 500 feet of 0.82% copper and 440 feet of 1.38% copper.
How much has Hudbay allocated for exploration in Arizona in 2021?
Hudbay Minerals has a current exploration budget of approximately $10 million for its Arizona properties in 2021.
How many drill rigs is Hudbay using for the Copper World project?
Hudbay Minerals has increased its drilling operation to a total of six rigs at the Copper World project.
What is the significance of the copper grades found at Copper World?
The copper grades found at Copper World are significant as they are at shallower depths and indicate the potential for a viable open-pit operation.
Hudbay Minerals Inc.
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