Hudbay Minerals (TSX: HBM) is providing insight on exploration and resource estimates at its Llaguen project in Peru. Initial estimates include 271 million tonnes of indicated resources at 0.42% copper-equivalent and 83 million tonnes of inferred resources at 0.30% copper-equivalent.
High-grade core within the Llaguen mineral resource includes 113 million tonnes of indicated resources at 0.60% copper-equivalent and 16 million tonnes of inferred resources at 0.52% copper equivalent.
Llaguen is a wholly owned copper-molybdenum porphyry deposit located close to the city of Trujillo in the La Libertad region in Peru, at moderate altitude and close to existing infrastructure, water and power supply. Early exploration activities at the Maria Reyna and Caballito properties, located within trucking distance of the Constancia mine in Peru, confirm the occurrence of sulphide and oxide rich copper mineralization at surface.
“The initial mineral resource estimate for our Llaguen project has confirmed the presence of a significant copper-molybdenum porphyry deposit at a higher level of geological confidence than we expected at this stage due to the continuous nature of the mineralization,” said Andre Lauzon, senior VP and COO.
“The mineral resources include a significant higher-grade component located near surface, with a low 0.9 strip ratio and the potential to be mined in the initial years of production to maximize the economics for the project,” Luzon said.