Operational Overview

Hecla is the largest U.S silver miner and produces more than 40% of all silver in the U.S. We are the third largest lead and zinc producer, and we also mine gold. Hecla owns the only primary silver producer in Canada and we have exploration properties in world-class silver and gold mining districts throughout North America.

Hecla by the Numbers (2021)

3

Operating Mines in North America

12.9

Million Ounces of Silver Produced

201,327

Ounces of Gold Produced

43,011

Tons of Lead Produced

63,617

Tons of Zinc Produced

Operational Strategy: Long-Lived Mines in Safe Jurisdictions

Hecla invests in long-lived assets. This allows us to operate with maximum efficiency while also building deep ties to the communities in which we operate.

Our mines are located in North America, primarily in the U.S. These jurisdictions have established transparent regulatory frameworks for environmental compliance, health and safety protections, community engagement, corporate governance, and adherence to human rights. This ensures our operations run efficiently, our workers are protected, and our investors get exposure to silver without taking on the political and currency risks of other countries. Our site locations are also highly rated by the Fraser Institute’s annual survey of mineral and mining companies for investor attractiveness and a region’s policy climate.

  • For investment attractiveness, Hecla operates in 4 of the top 10 regions globally (Alaska 4, Quebec 6, Idaho 7, Yukon 9).
  • For Policy Perception, we operate in 1 of the top 10 globally (Quebec 5), with 4 in the top 25 (Alaska 13, Idaho 15, Yukon 23).

Hecla operates in jurisdictions rated by the Transparency International’s Corruption Perception Index for low corruption. (Canada has a ranking of 13 and the U.S. ranking is 27).

An aerial view of a mine.

Hecla’s Operations

Greens Creek

Alaska, USA

Underground
Workforce: 463 Employees
Small Footprint: Acres Affected 365

2021 Production
9.2 Moz (Ag)
46.1 Koz (Au)
19.9  Ktons (Pb)
53.6  Ktons (Zn)

P&P Reserves 
125.2 Moz (Ag)
946 Koz (Au)

M&I Reserves 
106.7 Moz (Ag)
836 Koz (Au)

Lucky Friday

Idaho, USA

Underground
Workforce: 352 Employees
Small Footprint: Acres Affected 149

2021 Production
3.6 Moz (Ag)
23.1 Ktons (Pb)
10.0 Ktons (Zn)

P&P Reserves
74.7 Moz (Ag)

M&I Reserves
79.8 Moz (Ag)

Casa Berardi

Quebec, Canada

Underground
Workforce: 678 Employees
Small Footprint: Acres Affected 1,645

2021 Production
134.5 Koz (Au)
33.6 Moz (Ag)

P&P Reserves
1.8 Koz (Au)

M&I Resources
1.1 Koz (Au)

Keno Hill

Yukon Territory, Canada

Underground 
Workforce: 190 Employees June 2022 investor presentation)

2021 Production
621.6 Moz (Ag)
2.4 Ktons (Pb)
.8 Ktons (Zn)

P&P Reserves
37.2 Moz (Ag)

M&I Resources
50.5 Moz (Ag)

*Indicated Resources (Exclusive of Reserve)

Reserves and Resources

(As of December 31, 2021 unless otherwise noted)

Proven Reserves (1)
Probable Reserves (6)
Proven & Probable Reserves (1)
Measured Resources (8)
Indicated Resources (9)
Measured
& Indicated Resources
Inferred Resources (10)
Proven Reserves (1)

Mineral Reserves (1)

Tons(000)Silver(oz/ton)Gold(oz/ton)Lead(%)Zinc(%)Copper(%)Silver(000 oz)Gold(000 oz)Lead(Tons)Zinc(Tons)Copper(Tons)

Greens Creek (2,3)

2

9.6

0.08

1.7

4.5

18

0.1

30

80

Lucky Friday (2,4)

4,691

13.9

8.4

3.4

65,313

395,290

159,440

Casa Berardi – Open Pit (2,5)

4,763

0.10

453

Casa Berardi – Underground (2,5)

923

.16

143

Total

10,378

65,331

596

395,320

159,440

Probable Reserves (6)

Mineral Reserves (1)

Tons(000)Silver(oz/ton)Gold(oz/ton)Lead(%)Zinc(%)Copper(%)Silver(000 oz)Gold(000 oz)Lead(Tons)Zinc(Tons)Copper(Tons)

Greens Creek (2,3)

11,074

11.3

0.09

2.5

6.6

125,201

946

282,220

725,830

Lucky Friday (2,4)

765

12.3

7.5

2.8

9,386

57,160

21,650

Casa Berardi – Open Pit (2,5)

13,371

0.07

928

Casa Berardi – Underground (2,5)

1,695

0.15

259

Total

26,905

 

134,587

2,133

339,380

747,480

Proven & Probable Reserves (1)

Mineral Reserves (1)

Tons(000)Silver(oz/ton)Gold(oz/ton)Lead(%)Zinc(%)Copper(%)Silver(000 oz)Gold(000 oz)Lead(Tons)Zinc(Tons)Copper(Tons)
Greens Creek (2,3)

11,076

11.3

0.09

2.5

6.6

125,219

946

282,250

725,920

Lucky Friday (2,4)

5,456

12.3

7.5

2.8

74,699

452,440

181,020

Casa Berardi Open Pit (2,5)

18,134

0.07

1,381

Casa Berardi Underground (2,5)

2,618

0.15

403

Total

37,283

199,918

2,730

734,690

906,940

Measured Resources (8)

Mineral Resources (7)

Tons(000)Silver(oz/ton)Gold(oz/ton)Lead(%)Zinc(%)Copper(%)Silver(000 oz)Gold(000 oz)Lead(Tons)Zinc(Tons)Copper(Tons)

Greens Creek (11, 12)

Lucky Friday (11,13)

8,652

7.6

4.9

2.5

65,752

425,100

213,480

Casa Berardi – Open Pit (11, 14)

96

0.04

4

Casa Berardi – Underground (11, 14)

2,272

0.15

351

San Sebastian – Oxide (15)

San Sebastian – Sulfide (15)

Fire Creek (16,17)

20

0.7

0.50

14

10

Hollister (16,18)

18

4.9

0.59

87

10

Midas (16,19)

2

7.6

0.68

14

1

Heva (20)

Hosco (20)

Star (21)

Total

11,060

65,867

377

425,100

213,480

Indicated Resources (9)

Mineral Resources (7)

Tons(000)Silver(oz/ton)Gold(oz/ton)Lead(%)Zinc(%)Copper(%)Silver(000 oz)Gold(000 oz)Lead(Tons)Zinc(Tons)Copper(Tons)

Greens Creek (11, 12)

8,355

12.8

0.10

3.0

8.4

106,670

836

250,040

701,520

Lucky Friday (11,13)

1,841

7.6

5.1

2.4

14,010

93,140

44,120

Casa Berardi – Open Pit (11, 14)

420

0.03

14

Casa Berardi – Underground (11, 14)

4,976

0.14

685

San Sebastian – Oxide (15)

1,453

6.5

0.09

9,430

135

San Sebastian – Sulfide (15)

1,187

5.5

0.01

1.9

2.9

1.2

6,579

16

22,420

34,100

14,650

Fire Creek (16,17)

113

1.0

0.45

114

51

Hollister (16,18)

70

1.9

0.58

130

40

Midas (16,19)

76

5.7

0.42

430

32

Heva (20)

1,266

0.06

76

Hosco (20)

29,287

0.04

1,201

Star (21)

1,126

2.9

6.2

7.4

3,301

69,900

83,410

Total

50,168

140,663

3,088

435,500

863,150

14,650

Measured
& Indicated Resources

Mineral Resources (7)

Tons (000)Silver(oz/ton)Gold(oz/ton)Lead(%)Zinc(%)Copper(%)Silver(000 oz)Gold(000 oz)Lead(Tons)Zinc(Tons)Copper(Tons)

Greens Creek (11, 12)

8,355

12.8

0.10

3.0

8.4

106,670

836

250,040

701,520

Lucky Friday (11,13)

10,493

7.6

4.9

2.5

79,762

518,240

257,600

Casa Berardi – Open Pit (11, 14)

516

0.03

18

Casa Berardi – Underground (11, 14)

7,248

0.14

1,036

San Sebastian – Oxide (15)

1,453

6.5

0.09

9,430

135

San Sebastian – Sulfide (15)

1,187

5.5

0.01

1.9

2.9

1.2

6,579

16

22,420

34,100

14,650

Fire Creek (16,17)

134

1.0

0.46

128

61

Hollister (16,18)

88

2.5

0.58

217

51

Midas (16,19)

78

5.7

0.43

444

33

Heva (20)

1,266

0.06

76

Hosco (20)

29,287

0.04

1,201

Star (21)

1,126

2.9

6.2

7.4

3,301

69,900

83,410

Total

61,229

206,530

3,464

860,600

1,076,630

14,650

Inferred Resources (10)

Mineral Resources (7)

Tons(000)Silver(oz/ton)Gold(oz/ton)Lead(%)Zinc(%)Copper(%)Silver(000 oz)Gold(000 oz)Lead(Tons)Zinc(Tons)Copper(Tons)

Greens Creek (11, 12)

2,152

12.8

0.08

2.8

6.8

27,508

164

60,140

146,020

Lucky Friday (11,13)

5,377

7.8

5.8

2.4

41,872

311,850

129,600

Casa Berardi – Open Pit (11, 14)

7,886

0.06

383

Casa Berardi – Underground (11, 14)

2,239

0.18

408

San Sebastian – Oxide (15)

3,490

6.4

0.05

22,353

182

San Sebastian – Sulfide (15)

385

4.2

0.01

1.6

2.3

0.9

1,606

5

6,070

8,830

3,330

Fire Creek (16, 17)

765

0.5

0.51

394

392

Fire Creek Open Pit (22)

74,584

0.1

0.03

5,232

2,178

Hollister (16,18)

642

3.0

0.42

1,916

273

Midas (16,19)

1,232

6.3

0.50

7,723

615

Heva (20)

2,787

0.08

216

Hosco (20)

17,726

0.04

663

Star (21)

3,157

2.9

5.6

5.5

9,432

178,670

174,450

San Juan Silver (23)

3,594

11.3

0.01

1.4

1.1

40,716

36

51,750

40,800

Monte Cristo (24)

913

0.3

0.14

271

131

Rock Creek (25)

100,086

1.5

0.7

148,736

658,680

Montanore (26)

112,185

1.6

0.7

183,346

759,420

Total

339,200

491,103

5,644

608,480

499,700

1,421,430

Note: All estimates are in-situ except for the proven reserves at Greens Creek and San Sebastian which are in surface stockpiles. Resources are exclusive of reserves.

(1) The term “reserve” means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term “economically,” as used in the definition of reserve, means that profitable extraction or production has been established or analytically demonstrated to be viable and justifiable under reasonable investment and market assumptions.  The term “legally,” as used in the definition of reserve, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Hecla must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Hecla’s current mine plans.

(2) Mineral reserves are based on $1300 gold, $16.00 silver, $0.90 lead, $1.15 zinc, unless otherwise stated.  The NSR cut-off grades are $205/ton for Greens Creek, $216.19 for the 30 Vein and $230.98 for the Intermediate Veins at Lucky Friday.

(3) Mineral reserves are based on $1300 gold and a US$/CAN$ exchange rate of 1:1.35. Reserve diluted to an average of 18% or 23% depending on mining method. The average cut-off grades at Casa Berardi are 0.100 oz/ton gold (3.46 g/tonne) for underground mineral reserves and 0.025 oz/ton gold (0.85 g/tonne) for open pit mineral reserves.

(4) Fire Creek mineral reserves are based on a cut-off grade of 0.482  gold equivalent oz/ton and incremental cut-off grade of 0.106 gold equivalent oz/ton. Unplanned dilution of 10% to 17% included depending on mining method.

(5) Mineral resources are based on $1500 gold, $21 silver, $1.15 lead, $1.35 zinc and $3.00 copper, unless otherwise stated.  Cut-off grades are as above unless otherwise stated.

(6) Measured and indicated resources from Gold Hunter and Lucky Friday vein systems are diluted and factored for expected mining recovery using NSR cut-off grades of $170.18 for the 30 Vein, $184.97 for the Intermediate Veins and $207.15 for the Lucky Friday Vein.

(7) Measured, indicated and inferred resources are based on $1,500 gold and a US$/CAN$ exchange rate of 1:1.35.  Underground resources are reported at a minimum mining width of 6.6 to 9.8 feet (2 m to 3 m).  The average cut-off grades at Casa Berardi are 0.087 oz/ton gold (3.0 g/tonne) for underground mineral resources and 0.025 oz/ton gold (0.85 g/tonne) for open pit mineral resources.

(8) Indicated resources reported at a minimum mining width of 5.9 feet (1.8 m) for Hugh Zone, Middle Vein,  North Vein, and  East Francine Vein and 4.9 feet (1.5 m) for Andrea Vein using a cut-off grade of $90.72/ton ($100/tonne).

San Sebastian lead, zinc and copper grades are for 1,187,000 tons of indicated resource within the Middle Vein and the Hugh Zone of the Francine Vein.

(9) Fire Creek mineral resources are reported at a gold equivalent cut-off grade of 0.238 oz/ton. The minimum mining width is defined as four feet or the vein true thickness plus two feet, whichever is greater.

(10) Hollister mineral resources, including the Hatter Graben,  are reported at a gold equivalent cut-off grade of 0.238 oz/ton. The minimum mining width is defined as four feet or the vein true thickness plus two feet, whichever is greater.

(11) Midas mineral resources are reported at a gold equivalent cut-off grade of 0.237 oz/ton. The minimum mining width is defined as four feet or the vein true thickness plus two feet, whichever is greater.

(12) Measured, indicated and inferred resources are based on $1,500 gold. The resources are in-situ without dilution and material loss at a cut-off grade of 0.01 oz/ton gold (0.33 g/tonne) for open pit and 0.088 oz/ton gold (3.0 g/tonne) for underground.

(13) Indicated resources reported at a minimum mining width of 6.0 feet for Bulldog; resources based on $26.5 Ag, $0.85 Pb, and $0.85 Zn and a cut-off grade of 6.0 silver equivalent oz/ton.

(14) Indicated and Inferred resources reported using $21 silver, $0.95 lead, $1.10 lead minimum mining width of 4.3 feet and a cut-off grade of $100/ton.

(15) Inferred resources reported at a minimum mining width of 5.9 feet (1.8 m) for Hugh Zone, Middle Vein, North Vein, and East Francine Vein and 4.9 feet (1.5 m) for Andrea Vein using a cut-off grade of $90.72/ton ($100/tonne).

San Sebastian lead, zinc and copper grades are for 385,000 tons of inferred resource within the Middle Vein and the Hugh Zone of the Francine Vein.

(16) Inferred open-pit resources for Fire Creek calculated November 30, 2017 using gold and silver recoveries of 65% and 30% for oxide material and 60% and 25% for mixed oxide-sulfide material.  Indicated Resources reclassified as Inferred for 2019.

Open pit resources are calculated at $1400 gold and $19.83 silver and cut-off grade of 0.01 Au Equivalent oz/ton and is inclusive of 10% mining dilution and 5% ore loss.  Open pit mineral resources exclusive of underground mineral resources.

NI43-101 Technical Report for the Fire Creek Project, Lander County, Nevada; Effective Date March 31, 2018; prepared by Practical Mining LLC, Mark Odell, P.E. for Hecla Mining Company, June28, 2018

(17)  Inferred resources reported at a minimum mining width of 6.0 feet for Bulldog and a cut-off grade of 6.0 equivalent oz/ton silver and 5.0 feet for Equity and North Amethyst vein at a cut-off grade of $50/ton and $100/ton; based on $1400 Au, $26.5 Ag, $0.85 Pb, and $0.85 Zn.

(18) Inferred resource reported at a minimum mining width of 5.0 feet; resources based on $1400 Au, $26.5 Ag using a 0.06 oz/ton gold cut-off grade.

(19) Inferred resource at Rock Creek reported at a minimum thickness of 15 feet and a cut-off grade of $24.50/ton NSR and adjusted given mining restrictions as defined by U.S. Forest Service, Kootenai National Forest in the June 2003 ‘Record of Decision, Rock Creek Project’.

(20) Inferred resource at Montanore reported at a minimum thickness of 15 feet and a cut-off grade of $24.50/ton NSR and adjusted given mining restrictions defined by U.S. Forest Service, Kootenai National Forest, Montana DEQ in December 2015 ‘Joint Final EIS, Montanore Project’.

(21) Indicated and Inferred resources at the Star property are reported using $21 silver, $0.95 lead, $1.10 lead, a minimum mining width of 4.3 feet and a cut-off grade of $100/ton; Metallurgical recovery: 93.38% silver, 93.33% lead, 86.96% zinc.

(22) Inferred open-pit resources for Fire Creek calculated November 30, 2017, using gold and silver recoveries of 65% and 30% for oxide material and 60% and 25% for mixed oxide-sulfide material. Indicated Resources reclassified as Inferred in 2019. Open pit resources are calculated at $1400 gold and $19.83 silver and cut-off grade of 0.01 Au Equivalent oz/ton and is inclusive of 10% mining dilution and 5% ore loss. Open pit mineral resources exclusive of underground mineral resources.

(23) Inferred resources reported at a minimum mining width of 6.0 feet for Bulldog and a cut-off grade of 6.0 equivalent oz/ton silver and 5.0 feet for Equity and North Amethyst vein at a cut-off grade of $50/ton and $100/ton; based on $1400 Au, $26.5 Ag, $0.85 Pb, and $0.85 Zn. Metallurgical recoveries based on grade dependent recovery curves: recoveries at the mean resource grade average 88% silver and 74% lead for the Bulldog and a constant 85% gold and 85% silver for North Amethyst and Equity.

(24) Inferred resource at Monte Cristo reported at a minimum mining width of 5.0 feet; resources based on $1400 Au, $26.5 Ag using a 0.06 oz/ton gold cut-off grade. Metallurgical recovery: 90% gold, 90% silver.

(25) Inferred resource at Rock Creek reported at a minimum thickness of 15 feet and a cut-off grade of $24.50/ton NSR; Metallurgical recoveries: 88% silver, 92% copper. Resources adjusted based on mining restrictions as defined by U.S. Forest Service, Kootenai National Forest in the June 2003 ‘Record of Decision, Rock Creek Project’.

(26) Inferred resource at Montanore reported at a minimum thickness of 15 feet and a cut-off grade of $24.50/ton NSR; Metallurgical recoveries: 88% silver, 92% copper. Resources adjusted based on mining restrictions as defined by U.S. Forest Service, Kootenai National Forest, Montana DEQ in December 2015 ‘Joint Final EIS, Montanore Project’ and the February 2016 U.S Forest Service – Kootenai National Forest ‘Record of Decision, Montanore Project’.

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