Lucky Friday | #4 shaft project
The #4 Shaft project, an internal shaft at the Lucky Friday mine, is expected, upon its completion, to provide deeper access in order to increase the mine's production and operational life. The #4 Shaft project, as currently designed, is expected to involve development down to the 8800-foot level. Hecla commenced engineering and construction activities on the #4 Shaft in late 2008, and the Board of Directors gave its final approval of the project in August 2011.
The #4 Shaft Project is a key growth project that is currently excavated to the 7835 level. The #4 Shaft Project is 85% completed, and is expected to be finished in the fourth quarter of 2016, allowing access to higher-grade zones beginning in 2018 once the associated development is concluded. The #4 Shaft Project is expected to cost approximately $225 million, with about $41 million left to be spent over the next two years.
In addition, an optimization study is under way at the Lucky Friday to evaluate throughput increases at the mine. Production is limited by mill capacity; therefore, this study will determine the mine's capacity and the economics of increasing mill capacity.
A study of optimal production levels for the Lucky Friday unit has been completed. This study identified opportunities for increasing mine production throughout the mine life which will be pursued at a feasibility level to refine the associated costs and develop an assessment of the economic viability of these opportunities.
|Lucky Friday mine orebody and #4 Shaft development|