Reed Copper Project
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Category Tonnes Au (g/t) Ag (g/t) Cu (%) Zn (%)
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Indicated 2,550,000 0.64 7.86 4.52 0.91
Inferred 170,000 0.38 4.55 4.26 0.52
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ANI 43-101 compliant resource was announced today for the Reed copper project, which will allow HudBay to complete a prefeasibility study. The project, in which HudBay has a 70% joint venture interest, is a high-grade near surface copper deposit that could be accessed via a ramp with the ore trucked to the Flin Flon concentrator. Permitting and pre-feasibility efforts will be conducted throughout 2011 with the expectation of a construction decision by year-end.
Exploration at and around the Reed property will continue with efforts in the immediate future concentrated on near deposit geophysical anomalies as well as on completing required exploration on the adjacent option properties, which HudBay is earning into from its joint venture partner VMS Ventures Inc.
