Keno Hill

Yukon Territory, Canada

The Keno Hill Silver District in Canada’s Yukon Territory is a large, high-grade silver property in a top 10 rated jurisdiction by the Fraser Institute. It has the potential to become the largest Canadian silver producer.

Underground

Mine Type

100%

Ownership

2.8 Moz

Silver

2.9 Ktons

Lead

1.5 Ktons

Zinc

***All metals reflect 2024 production

Description & History

Hecla acquired Alexco Resource Corp. on July 5, 2022 and the deal was finalized on September 7, 2022.

The Company owns 100% of the Keno Hill Silver Project which is located within the Keno Hill Silver District in Canada’s Yukon Territory. Keno Hill, one of the highest-grade silver districts in the world, is situated 350 kilometers north of Whitehorse, and lies within the traditional territory of the First Nation of Na-Cho Nyak Dun. It comprises 242 square kilometers (km2) with numerous mineral deposits and more than 35 historical past-producing mine sites. In 2024, Keno Hill produced 2.8 million ounces of silver.

View the S-K 1300 Technical Report Summary for Keno Hill.

Community Partner

Business Agreements are in place with First Nation of Na-Cho Nyak Dun Development (FNNND) Corporation

Keno Hill produces silver, lead and zinc concentrates and includes five deposits–Bellekeno, Lucky Queen, Flame & Moth, Onek, and Bermingham. This is a fully permitted property with infrastructure that includes a 400 tonne per day mill, on-site camp facility, all-season highway access from Whitehorse, and connection to the Yukon Energy hydropower grid.

Reserves & Resources

Keno Hill – Mineral Reserves & Resources
(As of December 31, 2024 unless otherwise noted)
Tons
(000)
Silver
(oz/ton)
Gold
(oz/ton)
Lead
(%)
Zinc
(%)
Silver
(000 oz)
Gold
(000 oz)
Lead
(Tons)
Zinc
(Tons)
Proven Reserves (2, 6)
13

28.1

3.0

3.0

364

380

200

Probable Reserves (26)

 
2,630

24.3

0.01

2.4

2.4

63,914

17

63,914

62,790

Proven & Probable Reserves (26)

 

2,643

24.3

0.01

2.4

2.4

64,278

17

64,278

62,990

Measured Resources  (1216)

Indicated Resources (1216)
1,050
13.7
0.01
1.1
2.1
14,431
12
11,610
22,460
Measure & Indicated Resources (1216)

1,050

13.7

0.01

1.1

2.1

14,431

12

11,610
22,460
Inferred Resources (1216)

1,300

14.8

0.005

1.3

2.7

19,270

6

16,450

34,940

Totals may not represent the sum of parts due to rounding.

(2) Mineral reserves are based on $22/oz silver, $1,900/oz gold, $0.90/lb lead, $1.15/lb zinc, unless otherwise stated. All Mineral Reserves are reported in-situ with estimates of mining dilution and mining loss.
(6) The reserve NSR cut-off value at Keno Hill is $235.20/ton (CAD$350/tonne), Metallurgical recovery (actual 2024): 97% for silver, 95% for lead, 87% for zinc; US$/CAD$ exchange rate: 1:1.35.

Note: All estimates are in-situ except for the proven reserves at Greens Creek which are in surface stockpiles. Mineral resources are exclusive of reserves.

(12) Mineral resources are based on $2,000/oz gold, $24/oz silver, $1.15/lb lead, $1.35/lb zinc and $4/lb copper, unless otherwise stated.
(16) The resource NSR cut-off value at Keno Hill is $134.40/ton (CAD$200/tonne); using minimum width of 4.9 feet (1.5m); metallurgical recovery (actual 2024): 97% for silver, 95% for lead, 87% for zinc;US$/CAD$ exchange rate: 1:1.35

Operational Highlights

Between 1913 and 1989, Keno Hill produced over 200 Moz of silver with average grades of 44 oz/t, making it the second-largest historical silver producer in Canada. Today, it boasts significant Mineral Resources at grades far higher than most of the world’s primary silver producers.

Production

years ended December 31

2023
2024

Silver (ounces)

1,502,5772,773,873

Lead (tons)

1,2252,930

Zinc (tons)

1,3391,507

Keno Hill Exploration (27% of exploration budget)

  • Primary Focus: Three surface diamond drills testing a high-potential vein intersection northeast of the Deep Bermingham ore body, building on significant silver intercepts from 2023-2024
  • Recent Discoveries: The Flame & Moth and Bermingham deposits discovered since 2006 demonstrate the district’s exceptional discovery potential
  • Underground Expansion: Continued resource conversion and expansion in the Bermingham Bear Zone concurrent with infrastructure development
  • District Potential: Multiple Bermingham-scale deposit opportunities across our land holdings
  • Structural Refinement: 2025 targets result from refined structural modeling that has identified prospective vein intersections
Keno Hill Future Plans site
Keno Hill Exploration site

Geology and Mining

The Keno Hill Silver District is in the central Yukon, which is characterized by subarctic continental climate with cold winters and warm summers. Annual precipitation averages 28 cm and half of this falls as snow, which starts to accumulate in October and remains until May or June. The landscape of the District is characterized by rolling hills and mountains with a relief of up to 1,600 m, the highest of which is Keno Hill at 1,975 m.

Mineralization in the District is of the polymetallic silver-lead-zinc vein type where multiple pulses of hydrothermal fluids or fluid boiling, probably related to repeated reactivation and breccia formation along the host fault structures, have formed a series of vein stages with differing mineral assemblages and textures. Supergene alteration may have further changed the nature of the mineralogy in the veins. Much of the supergene zone may have been removed due to glacial erosion. In general, common gangue minerals include (manganiferous) siderite and, to a lesser extent, quartz, and calcite. Silver predominantly occurs in argentiferous galena and argentiferous tetrahedrite (freibergite).

In some assemblages, silver is also found as native silver, in polybasite, stephanite, and pyrargyrite. Lead occurs in galena and zinc in sphalerite, which can be either an iron-rich or iron-poor variety. Other sulphides include pyrite, pyrrhotite, arsenopyrite, and chalcopyrite. The Keno Hill mining camp has long been recognized as a polymetallic silver-lead-zinc vein district with characteristics similar to other well-known mining districts in the world.

Keno Hill Social
& Economic Benefit

Hecla’s Keno Hill mine is located in Canada’s Yukon Territory and within the territory of the First Nation of Na-Cho Nyäk Dun (FNNND). In 2024, Keno Hill had a local impact of more than $179 million, including $23 million in wages, $18 million in taxes and fees, and $137 million in purchases from vendors.