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SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
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FORM 8-K
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported): December 21, 1994
Hecla Mining Company
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-8491 82-0126240
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(Commission File Number) (IRS Employer Identification No.)
6500 Mineral Drive
Coeur d'Alene, Idaho 83814-8788
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(Address of principal executive offices) (Zip Code)
(208) 769-4100
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(Registrant's Telephone Number)
Page 1 of 4 Pages
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Item 5. Other Events.
On December 21, 1994, the Registrant issued the press release
attached hereto as Exhibit A, which is incorporated herein by this reference.
Item 7. Financial Statements, Proforma Financial Information and Exhibits.
Exhibit A - Press Release dated July 28, 1994.
SIGNATURE
Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
HECLA MINING COMPANY
By: /s/ Nathaniel K. Adams
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Name: Nathaniel K. Adams
Title: Corporate Counsel and
Assistant Secretary
Dated: December 22, 1994
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[HECLA LETTERHEAD] Exhibit A
FOR IMMEDIATE RELEASE
December 21, 1994
HECLA AND GREAT LAKES ANNOUNCE
FIRST GOLD POUR AT GROUSE CREEK
CHALLIS, Idaho -- Hecla Mining Company (HL & HL-B:NYSE) and Great
Lakes Minerals Inc. (GKM:TSE) are pleased to announce that the new Grouse Creek
gold and silver mine in the historic Yankee Fork Mining District of central
Idaho held its first gold pour yesterday.
"This signals the start of an important and long-term operation for
our company and for our joint-venture participant," said Arthur Brown, Hecla's
chairman and chief executive officer. Hecla owns 80 percent and is operator of
the Grouse Creek Unit located near Challis, Idaho.
The other 20 percent is owned by Great Lakes Minerals Inc. of Toronto.
Great Lakes also has an option to purchase an additional 10 percent of the
operation. "This first pour represents a significant milestone for Great Lakes
and forms the base for future growth," said John McBride, Great Lakes' chairman
and chief executive officer.
Mining and stockpiling of the underground high-grade ore and Sunbeam
open-pit ore have been under way since midyear. The mill commenced operation
in late October. The ore is crushed and processed through a conventional gold
recovery mill using gravity and carbon-in-pulp concentration methods. Gold and
silver are recovered from solution using the Merrill Crowe refining process and
poured into dore bars on site. Mill production is projected to average 6,000
tons of ore per day. While 1994 production
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will be nominal, the project is expected to produce 130,000 ounces of gold in
1995 on a 100-percent basis. The mine also is expected to produce nearly a
million ounces of silver in 1995. The currently estimated eight-year mine life
of Grouse Creek is derived from proven and probable reserves of 839,000 ounces
of gold and more than 16 million ounces of silver. However, future exploration
efforts on the 28-square-mile property have the potential to extend the mine
life well beyond current forecasts.
The Grouse Creek project was developed to protect and, in certain
cases, enhance the quality of the environment. During development of the mine,
80 acres of sedge wetlands were created or enhanced and 10 acres of historic
gold dredge tailings were replaced with riparian wetlands and salmon habitat.
The planned design of the facility will have a lasting positive impact on the
surrounding area by reducing sedimentation to streams through an extensive
stormwater runoff control system. In addition, all process water is stored in
a double-lined tailings pond and recycled through the mill with none being
discharged to the environment.
Hecla is a 103-year-old mining company with operations principally in
the United States and Mexico. The company is a well-known silver producer
with a growing gold profile and a major supplier of ball clay, kaolin and
feldspar. The common and preferred shares of Hecla are traded on the New York
Stock Exchange under the symbols HL and HL-B, respectively.
-HL-
Contact:
April R. Boughton, director of public relations
office 208/769-4144
home 208/762-2376
pager 208/769-3756