Hecla Mining provides update on Lucky Friday mine

Hecla Mining announced an update regarding the Lucky Friday mine on the previously reported fire in the mine’s secondary egress, the #2 shaft. The fire has been extinguished, normal ventilation has been established, and the workforce has been recalled. The company is bringing the mine back into production by developing a new secondary egress to bypass the damaged portion of the shaft. The new egress will extend an existing ramp 1,600 feet and install a 290-foot-long manway raise. It is anticipated this work will suspend production for the remainder of 2023. The mine has produced 3 million ounces of silver as of the end of July 2023. Currently, the company does not expect a material change to 2024 consolidated silver production guidance. The company has property insurance with an underground sub-limit of $50M and believes this policy will cover most of the property damage and business interruption, less the deductible.