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HECLA MINING, AMERICAN BARRICK SIGN OPTION FOR YELLOW PINE DEPOSIT

HECLA MINING, AMERICAN BARRICK SIGN OPTION FOR YELLOW PINE DEPOSIT
 COEUR D'ALENE, Idaho, June 10 /PRNewswire/ -- Hecla Mining Co. (NYSE: HL; PSE) and Barrick Gold Exploration Inc., a subsidiary of American Barrick Resources Corp. (NYSE: ABX), have signed a letter of intent for the exploration and development of Hecla's Yellow Pine gold deposit in central Idaho, Hecla said today.
 Currently this mineral resource is estimated to contain about 20 million tons of refractory sulfide material, or approximately 2 to 4 million ounces of gold.
 Under the proposal, Hecla will grant to Barrick the option to earn a 70-percent interest in the project. To earn this interest, Barrick will make $7 million in scheduled option payments and complete a feasibility report on the project by the end of 1997. If the feasibility report recommends commercial production, Hecla will have the option to continue as a 30-percent joint venture partner in the project.
 Hecla Chairman and Chief Executive Officer Arthur Brown said, "The potential to become partners with American Barrick on this promising project is a good opportunity for Hecla. Barrick has valuable experience in the treatment of refractory ores, and we are pleased to be working with them."
 Hecla is completing an oxide gold heap leach operation at its Yellow Pine Unit, located adjacent to the mineralization covered by the letter of intent. The oxide deposit was mined out during 1991, and reclamation and neutralization of the heap are under way. The Yellow Pine mine produced about 80,000 ounces of gold during its three-year life.
 Hecla Mining Co. is headquartered in Coeur d'Alene. During its 100-year history, Hecla has been a leading U.S. producer of silver and lead, and more recently a major supplier of gold and industrial minerals.
 -0- 6/10/92
 /CONTACT: Vicki Kok of Hecla Mining, 208-769-4100/
 (HL ABX) CO: Hecla Mining Co.; American Barrick Resources Corp.; Barrick Gold
 Exploration Inc. ST: Idaho IN: MNG SU: JVN


LM-SC -- SE001 -- 8658 06/10/92 08:31 EDT
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Publication:PR Newswire
Date:Jun 10, 1992
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