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Operational Overview

Hecla is the largest U.S silver miner and produces more than 45% 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 (2022)

3

Operating Mines in North America

14.2

Million Ounces of Silver Produced

175,807

Ounces of Gold Produced

49,000

Tons of Lead Produced

65,000

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 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 for low corruption. (Canada has a ranking of 14 and the U.S. ranking is 24).
An aerial view of a mine.

Hecla’s Operations

Greens Creek

Alaska, USA

Underground
Workforce: 463 Employees
Small Footprint: Acres Affected 365

2022 Production
9.7 Moz (Ag)
48.2 Koz (Au)
19.4  Ktons (Pb)
52.3  Ktons (Zn)

P&P Reserves 
116.8 Moz (Ag)
935 Koz (Au)

P&P Reserves 
264.7 Ktons (Pb)
695.1.Ktons (Zn)

M&I Reserves 
108.7 Moz (Ag)
810 Koz (Au)

245.9 Ktons (Pb)
675.4 Ktons (Zn)

Lucky Friday

Idaho, USA

Underground
Workforce: 352 Employees
Small Footprint: Acres Affected 149

2022 Production
4.4 Moz (Ag)
29.2 Ktons (Pb)
12.4 Ktons (Zn)

P&P Reserves

74.6 Moz (Ag)
476.6 Ktons (Pb)
199.5 Ktons (Zn)

M&I Reserves

58.1 Moz (Ag)
224.6 Ktons (Pb)
84.7 Ktons (Zn)

Casa Berardi

Quebec, Canada

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

2022 Production
127.6 Koz (Au)
28.3 Moz (Ag)

P&P Reserves
261 Koz (Au)–Underground

1.3 Koz (Au)–Open Pit

M&I Resources
1.2 Koz (Au)–Underground

67 b Koz (Au)–Open Pit

Keno Hill

Yukon Territory, Canada

Underground 
Workforce: 290 Employees

2022 P&P Reserves

49.4 Moz (Ag)
13 Koz (Au)
52.5  Ktons (Pb)
49.3  Ktons (Zn)

M&I Resources

32.2 Moz (Ag)
29 Koz (Au)
39.5  Ktons (Pb)
163.1  Ktons (Zn)

Reserves and Resources

(As of December 31, 2022 unless otherwise noted)

Proven Reserves (1)
Probable Reserves (7)
Proven & Probable Reserves
Measured Resources (9)
Indicated Resources (10)
Measured & Indicated Reserves ()
Inferred Resources (11)
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)

7

16.1

0.07

2.3

5.4

–

106

0.4150

360

–

Lucky Friday (2,4)

4,734

13.8

–

8.6

3.7

–

64,638

–

404,160

174,510

–

Casa Berardi – Open Pit (2,5)

4,410

–

0.17

–

–

–

–

417

–

–

–

Casa Berardi – Underground (2,5)

552

–

.09

–

–

–

–

95

–

–

–

Keno Hill (2, 6)

–

–

–

–

–

–

–

–

–

–

–

Total

9,703

64,746

512

404,310

174,870

Probable Reserves (7)

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)

10,668

10.9

0.09

2.5

6.5

–

116,748

935

264,600

694,800

–

Lucky Friday (2,4)

840

12.8

–

8.1

3.2

–

9,978

–

63,510

25,030

–

Casa Berardi – Open Pit (2,5)

12,434

–

0.08

–

–

–

–

936

–

–

–

Casa Berardi – Underground (2,5)

989

–

0.17

–

–

–

–

166

–

–

–

Keno Hill (2,6)

2,197

22.5

0.01

2.4

2.2

49,473

13

52,520

49,320

–

Total

27,128

176,199

2,050

380,630

769,150

Proven & Probable Reserves

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)

10,675

10.9

0.09

2.5

6.5

–

116,856

935

264,750

695,160

–

Lucky Friday (2,4)

5,574

13.4

–

8.4

3.6

–

74,616

–

467,670

199,530

–

Casa Berardi Open Pit (2,5)

16,844

–

0.06

–

–

–

–

1,353

–

–

–

Casa Berardi Underground (2,5)

1,541

–

0.17

–

–

–

–

261

–

–

–

Keno Hill (2,6)

2,197

22.5

0.01

2.4

2.2

–

49,473

13

52,520

49,320

–

Total

36,829

240,945

2,562

784,940

944,020

Measured Resources (9)

Mineral Resources (8)

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 (12, 13)

–

–

–

–

–

–

–

–

–

–

–

Lucky Friday (12,14)

6,237

7.8

–

5.4

2.6

–

48,551

–

335,850

161,000

–

Casa Berardi – Underground (12, 15)

2,440

–

0.22

–

–

–

–

530

–

–

–

Casa Berardi – Open Pit (12, 15)

483

–

0.04

–

–

–

–

20

–

–

–

Keno Hill (12, 16)

–

–

–

–

–

–

–

–

–

–

–

San Sebastian – Oxide (17)

–

–

–

–

–

–

–

–

–

–

San Sebastian – Sulfide (17)

–

–

–

–

–

–

–

–

–

–

Fire Creek (18,19)

–

–

–

–

–

–

–

–

–

–

–

Hollister ((18,20)

18

4.9

0.59

–

–

–

–

–

–

–

–

Midas (18,21)

2

7.6

0.68

–

–

–

87

10

–

–

–

Heva (22)

–

–

–

–

–

–

14

1

–

–

–

Hosco (22)

–

–

–

–

–

–

–

–

–

–

–

Star (12,23)

–

–

–

–

–

–

–

–

–

–

–

Total

9,180

48,652

561

335,850

161,000

–

Indicated Resources (10)

Mineral Resources (8)

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 (12, 13)

8,421

12.9

0.10

2.9

8.0

–

108,717

810

245,990

675,740

–

Lucky Friday (12, 14)

1,194

8.0

–

5.4

2.2

–

9,581

–

64,390

26,200

–

Casa Berardi – Underground (12, 15)

3,870

–

0.17

–

–

–

–

660

–

–

–

Casa Berardi – Open Pit (12, 15)

1,323

–

0.04

–

–

–

–

48

–

–

–

Keno Hill (12,16)

4,061

8.0

0.007

1.0

4.0

–

32,288

29

39,540

163,130

–

San Sebastian – Oxide (17)

1,453

6.5

0.09

–

–

–

9,430

135

–

–

–

San Sebastian – Sulfide (17)

1,187

5.5

0.01

1.9

2.9

1.2

6,579

16

22,420

34,100

14,650

Fire Creek (18,19)

112

1.0

0.53

–

–

–

122

59

–

–

–

Hollister (18,20)

70

1.9

0.58

–

–

–

130

40

–

–

–

Midas (18,21)

76

5.7

0.42

–

–

–

430

32

–

–

–

Heva (22)

1,266

–

0.06

–

–

–

–

76

–

–

–

Hosco (22)

29,287

–

0.04

–

–

–

–

1,201

–

–

–

Star (12,23)

1,068

3.0

–

6.4

7.7

–

3,177

–

67,970

82,040

–

Total

53,388

170,454

3,107

440,310

981,210

14,650

Measured & Indicated Reserves ()

Mineral Resources (8)

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 (12, 13)

8,421

12.9

0.10

2.9

8.0

–

108,717

810

245,990

675,740

–

Lucky Friday (12,14)

7,431

7.8

–

5.4

2.5

–

58,132

–

400,240

187,200

–

Casa Berardi – Underground (12, 15)

6,310

–

0.19

–

–

–

–

1,190

–

–

–

Casa Berardi – Open Pit (12, 15)

1,806

–

0.04

–

–

–

–

67

–

–

–

Keno Hill (12, 16)

4,061

8.0

0.007

1.0

4.0

–

32,288

29

39,540

163,130

–

San Sebastian – Oxide (17)

1,453

6.5

0.09

–

–

–

9,430

135

–

–

–

San Sebastian – Sulfide (17)

1,187

5.5

0.01

1.9

2.9

1.2

6,579

16

22,420

34,100

14,650

Fire Creek (18,19)

112

1.1

0.53

–

–

–

122

59

–

–

–

Hollister (18,20)

88

2.5

0.58

–

–

–

217

51

–

–

–

Midas (18,21)

78

5.7

0.43

–

–

–

444

33

–

–

–

Heva (22)

1,266

–

0.06

–

–

–

–

76

–

–

–

Hosco (22)

29,287

–

0.04

–

–

–

–

1,202

–

–

–

Star (12,23)

1,068

3.0

–

6.4

7.7

–

3,177

–

67,970

82,040

–

Total

62,568

219,106

3,668

776,160

1,142,210

14,650

Inferred Resources (11)

Mineral Resources (8)

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 (12,13)

2,383

12.1

0.07

2.8

6.9

–

28,949

178

67,400

146,080

–

Lucky Friday (12,14)

3,592

8.7

–

6.3

2.4

–

31,264

–

224,670

84,700

–

Casa Berardi – Underground (12, 15)

2,221

–

0.19

–

–

–

–

430

–

–

–

Casa Berardi – Open Pit (12, 15)

7,828

–

0.05

–

–

–

–

389

–

–

–
Keno Hill (12,16)

2,441

10.4

0.003

0.9

2.1

–

25,478

8

22,380

51,000

San Sebastian – Oxide (17)

3,490

6.4

0.05

–

–

–

22,353

182

–

–

–

San Sebastian – Sulfide (17)

385

4.2

0.01

1.6

2.3

0.9

1,606

5

6,070

8,830

3,330

Fire Creek (18, 19)

765

0.5

0.51

–

–

–

394

392

–

–

–

Fire Creek Open Pit (24)

74,584

0.1

0.03

–

–

–

5,232

2,178

–

–

–

Hollister (18,20)

642

3.0

0.42

–

–

–

1,916

273

–

–

–

Midas (18,21)

1,232

6.3

0.50

–

–

–

7,723

615

–

–

–

Heva (22)

2,787

–

0.08

–

–

–

–

216

–

–

–

Hosco (22)

17,726

–

0.04

–

–

–

–

663

–

–

–

Star(12,23)

2,851

3.1

–

5.9

5.9

–

8,795

–

168,180

166,930

–

San Juan Silver (12,25)

2,570

11.3

0.01

1.4

1.1

–

38,203

34

49,400

39,850

–

Monte Cristo (26)

913

0.3

0.14

–

–

–

271

131

–

–

–

Rock Creek (12,27)

100,086

1.5

–

–

–

0.7

148,736

–

–

–

658,680

Montanore (12,28)

112,185

1.6

–

–

–

0.7

183,346

–

–

–

759,420

Total

338,681

504,266

5,694

538,100

515,390

1,421,430

Note: All estimates are in-situ except for the proven reserves at Greens Creek which are in surface stockpiles. Mineral resources are exclusive of reserves.

(1) The term “reserve” means an estimate of tonnage and grade or quality of indicated and measured mineral resources that, in the opinion of the qualified person, can be the basis of an economically viable project. More specifically, it is the economically mineable part of a measured or indicated mineral resource, which includes diluting materials and allowances for losses that may occur when the material is mined or extracted. The term ‘proven reserves’ means the economically mineable part of a measured mineral resource and can only result from conversion of a measured mineral resource. See footnotes 8 and 9 below.  

(2) ꧅Mineral reserves are based on $17/oz silver, $1600/oz gold, $0.90/lb lead, $1.15/lb zinc, unless otherwise stated.  All Mineral Reserves are reported in-situ with estimates of mining dilution and mining loss. 

(3)🅷 The reserve NSR cut-off values for Greens Creek are $210/ton for all zones except the Gallagher Zone at $215/ton; metallurgical recoveries (actual 2022): 81% for silver, 72% for gold, 82% for lead, and 89% for zinc.  

(4) 🐲The reserve NSR cut-off values for Lucky Friday are $241.34/ton for the 30 Vein and $268.67/ton for the Intermediate Veins; metallurgical recoveries (actual 2022): 95% for silver, 95% for lead, and 88% for zinc. .

(5)❀ The average reserve cut-off grades at Casa Berardi are 0.12 oz/ton gold underground and 0.04 oz/ton gold for open pit. Metallurgical recovery (actual 2022): 87% for gold; US$/CAN$ exchange rate: 1:1.3.

(6)🐼 The reserve NSR cut-off value at Keno Hill is $244.24/ton (CAN$350/tonne), Metallurgical recovery: 93% for silver, 25% for gold, 93% for lead, 72% for zinc, US$/CAN$ exchange rate: 1:1.3.

(7) The term ‘probable reserves’ means the economically mineable part of an indicated and, in some cases, a measured mineral resource. See footnotes 9 and 10 below. 

(8) The term ‘mineral resources’ means a concentration or occurrence of material of economic interest in or on the Earth’s crust in such form, grade or quality, and quantity that these are reasonable prospects for economic extraction. A mineral resource is a reasonable estimate of mineralization, taking into account relevant factors such as cut-off grade, likely mining dimensions, location or continuity, that, with the assumed and justifiable technical and economic conditions, is likely to, in whole or in part, become economically extractable. It is not merely an inventory of all mineralization drilled or sampled.

(9) The term ‘measured resources’ means that part of a mineral resource for which quantity and grade or quality are estimated on the basis of conclusive geological evidence and sampling. The level of geological certainty associated with a measured mineral resource is sufficient to allow a qualified person to apply modifying factors in sufficient detail to support detailed mine planning and final evaluation of the economic viability of the deposit. Because a measured mineral resource has a higher level of confidence than the level of confidence of either an indicated mineral resource or an inferred mineral resource, a measured mineral resource may be converted to a proven mineral reserve or to a probably mineral resource. 

(10) The term “indicated resources” means that part of a mineral resource for which quantity and grade or quality are estimated on the basis of adequate geological evidence and sampling. The level of geological certainty associated with an indicated mineral resource is sufficient to allow a qualified person to apply modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Because an indicated mineral resource has a lower level of confidence than the level of confidence of a measured mineral resource, an indicated mineral resource may only be converted to a probable mineral reserve.

(11) The term “inferred resources” means that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Because an inferred mineral resource has the lowest level of geological confidence of all mineral resources, which prevents the application of the modifying factors in a manner useful for evaluation of economic viability, an inferred mineral resource may not be considered when assessing the economic viability of a mining project, and may not be converted to a mineral reserve.

(12)🍸 Mineral resources are based on $1700/oz gold, $21/oz silver, $1.15/lb lead, $1.35/lb zinc and $3.00/lb copper, unless otherwise stated.

(13)🌃 The resource NSR cut-off values for Greens Creek are $210/ton for all zones except the Gallagher Zone at $215/ton; metallurgical recoveries (actual 2022): 81% for silver, 72% for gold, 82% for lead, and 89% for zinc.

(14)🌠 The resource NSR cut-off values for Lucky Friday are $200.57/ton for the 30 Vein, $227.90/ton for the Intermediate Veins and $198.48/ton for the Lucky Friday Veins; metallurgical recoveries (actual 2022): 95% for silver, 95% for lead, and 88% for zinc.

(15)🌺 The average resource cut-off grades at Casa Berardi are 0.11 oz/ton gold for underground and 0.034 oz/ton gold for open pit; metallurgical recovery (actual 2022): 87% for gold; US$/CAN$ exchange rate: 1:1.3.

(16)꧂ The resource NSR cut-off value at Keno Hill is $129.10/ton (CAN$185/tonne); using minimum width of 4.9 feet (1.5m); metallurgical recovery: 93% for silver, 25% for gold, 93% for lead, 72% for zinc; US$/CAN$ exchange rate: 1:1.3.

(17)🌠  Indicated resources for most zones at San Sebastian based on $1500/oz gold, $21/oz silver, $1.15/lb lead, $1.35/lb zinc and $3.00/lb copper using a cut-off grade of $90.72/ton ($100/tonne); $1700/oz gold used for Toro, Bronco, and Tigre zones. Metallurgical recoveries based on grade dependent recovery curves: recoveries at the mean resource grade average 89% for silver and 84% for gold for oxide material and 85% for silver, 83% for gold, 81% for lead, 86% for zinc, and 83% for copper for sulfide material. Resources reported at a minimum mining width of 8.2 feet (2.5m) for Middle Vein, North Vein, and East Francine, 6.5ft (1.98m) for El Toro, El Bronco, and El Tigre, and 4.9 feet (1.5 m) for Hugh Zone and Andrea.

(18)𒁃 Mineral resources for Fire Creek, Hollister and Midas are reported using $1500/oz gold and $21/oz silver prices, unless otherwise noted. A minimum mining width is defined as four feet or the vein true thickness plus two feet, whichever is greater. 

(19) 🍌Fire Creek mineral resources are reported at a gold equivalent cut-off grade of 0.283 oz/ton. Metallurgical recoveries: 90% for gold and 70% for silver. 

(20)🍬 Hollister mineral resources, including the Hatter Graben are reported at a gold equivalent cut-off grade of 0.238 oz/ton. Metallurgical recoveries: 88% for gold and 66% for silver. 

(21)💯 Midas mineral resources are reported at a gold equivalent cut-off grade of 0.237 oz/ton. Metallurgical recoveries: 90% for gold and 70% for silver. A gold-equivalent cut-off grade of 0.1 oz/ton and a gold price of $1700/oz used for Sinter Zone with resources undiluted. 

(22)🦩 Measured, indicated and inferred resources at Heva and Hosco are based on $1,500/oz gold. Resources are without dilution or material loss at a gold cut-off grade of 0.01 oz/ton for open pit and 0.088 oz/ton for underground. Metallurgical recovery: Heva: 95% for gold, Hosco: 87.7% for gold.

(23)💯 Indicated and Inferred resources at the Star property are reported using a minimum mining width of 4.3 feet and an NSR cut-off value of $150/ton; Metallurgical recovery: 93% for silver, 93% for lead, and 87% for zinc. 

(24)🦂 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. 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. 

(25)🌞 Inferred resources reported at a minimum mining width of 6.0 feet for Bulldog and an NSR cut-off value of $175/ton and 5.0 feet for Equity and North Amethyst veins at an NSR cut-off value of $100/ton; Metallurgical recoveries based on grade dependent recovery curves; metal recoveries at the mean resource grade average 89% silver, 74% lead, and 81% zinc for the Bulldog and a constant 85% gold and 85% silver for North Amethyst and Equity. 

(26)🧸 Inferred resource at Monte Cristo reported at a minimum mining width of 5.0 feet; resources based on $1400 Au, $26.50 Ag using a 0.06 oz/ton gold cut-off grade. Metallurgical recovery: 90% for gold and 90% silver. 

(27) Inferred resource at Rock Creek reported at a minimum thickness of 15 feet and an NSR cut-off value of $24.50/ton; Metallurgical recoveries: 88% for silver and 92% for 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.

(28) Inferred resource at Montanore reported at a minimum thickness of 15 feet and an NSR cut-off value of $24.50/ton NSR; Metallurgical recoveries: 88% for silver and 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.
Reserves & Resources PDF