Huckleberry Mine

Huckleberry Mine is located 86 kilometres south of the District of Houston.

About This Project

The board of directors of Huckleberry Mines Ltd. (HML) has formally approved the Main Zone Optimization (MZO) plan(1) to extend the life of Huckleberry mine to 2021.

This seven year extension will preserve 230 full time and 30 contract positions on site. In addition, about 70 new positions will be created. Over the life of this mine expansion, HML is expected to spend approximately $254.4 million on wages and benefits (excluding contractors), $119.0 million on new acquisitions, and $82.0 million on dam construction.

The MZO plan is estimated to have a net present value of $150.0 million, at a discount rate of 8% based on US$3.40 per pound copper for 2012, and a price of US$3.14 per pound copper from 2013 to 2021 with the US/Cdn exchange rate at par. The MZO plan is based on the development of a mineral reserve (beneath the original Main zone pit) of 39.7 million tonnes grading 0.343% copper. The strip ratio for the MZO plan, including the Main Zone extension pit, is 1.46 to 1.0.

Project Status

Estimated Project Start Date

Estimated Completion Date

Northern Development Initiative Trust

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