Hecla Announces Acquisition of Significant Gold
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Hecla Announces Acquisition of Significant Gold District in Venezuela
Monday January 10, 8:01 am ET
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Jan. 10, 2005--Hecla Mining Company (NYSE:HL) has signed a letter of intent to acquire the Guariche gold project, which would more than double the company's land position in Venezuela. Hecla is the largest gold producer in Venezuela, with significant land holdings in the El Callao and El Dorado gold districts. With the acquisition of the Guariche property, the company will have some of the most prospective gold targets in three separate gold districts in the country. To obtain the property, Hecla will acquire the shares of the subsidiary corporations of Triumph Gold Corp., which collectively control the concessions. The transaction is subject to approval of Hecla's board of directors, as well as the shareholders of Triumph. Triumph's board of directors has already given authorization to proceed with the transaction.
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