Hudbay reaches exploration deal for two Peru satellite properties

The Maria Reyna and Caballito are located close to the processing of facilities of the Constancia mine. Photo: Hudbay Minerals

Hudbay Minerals announces that the Uchucarcco community has formally approved an exploration agreement with Hudbay granting surface rights to the Maria Reyna and Caballito satellite properties located near Hudbay’s Constancia mine in Peru. These satellite properties consist of a large, contiguous block of mineral rights held by Hudbay and have the potential to host mineral deposits within trucking distance of the Constancia processing facilities.

“We are very pleased to have reached an exploration agreement with the Uchucarcco community on these highly prospective properties,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “Historic drilling at Maria Reyna indicates attractive grades over wide intersections starting at surface and the past-producing Caballito property has the potential to add higher grade copper mineralization to our Constancia operations. This exploration agreement demonstrates our commitment to partnering with the local communities and we look forward to continuing to work harmoniously with the communities to add value to our long-life operation in Peru.”

The company expects to commence early field exploration activities in August and finalization of the Uchucarcco agreement is anticipated to increase community investment costs in the second half of 2022.