Huldra files Thule report, increases April production at Treasure Mountain

Huldra Silver Inc. has filed a technical report titled “Technical Report on the Thule Copper-Iron Property, Southern British Columbia, Canada” for the Thule copper project. The company is also pleased to announce that concentrate shipments in April have increased by 42 per cent for lead/silver and 18 per cent for zinc/silver over the previous month.

The Thule copper project, located 14 kilometres northwest of Merritt, B.C., includes the former Craigmont copper-iron mine, 20 contiguous mineral claims, 10 contiguous mineral leases and seven freehold properties covering a total area of 8,272 hectares. The claims are owned 100 per cent by Huldra Properties Inc., a wholly owned subsidiary of the company.

The former Craigmont copper-iron mine was operated by Craigmont Mines Ltd. from 1961 until 1982 when Placer, the company’s majority shareholder, was forced to cease activity due to falling copper prices. During its operation, 34 million tonnes of ore were mined, grading approximately 1.28 per cent copper. Magnetite stockpile and tailings recovery operations continued from 1982 to 2012.

In 2012, Huldra completed a helicopter aeromagnetic gradient and spectrometer survey over the entire property. A total of 903 line kilometres of magnetic data was collected. From this data package, six magnetic targets were identified along strike of the past-producing Craigmont copper-iron mine. An additional six other exploration targets were identified during the data compilation and review process.

Huldra continues to experience significant monthly increases in production and shipments of concentrates. In April, a total of 233.2 dry tonnes of lead/silver concentrate and 199.3 dry tonnes of zinc/silver concentrate were shipped to the smelter, representing 42-per-cent and 18-per-cent increases, respectively. The total smelter invoices, representing 85-per-cent provisional payments in the month of April, were $1,662,497 (U.S.) plus GST. All payments are made pursuant to the previously announced concentrate purchase agreements. Provisional payments are based on the best available information at the time of invoicing. Final payments are subject to adjustment based on independent assay results and metal prices.