The US Forest Service has issued the final decision notice and finding of no significant impact for NYSE-listed Hecla Mining Company’s 100%-owned Libby copper/silver exploration project in Lincoln County, Montana.

This significant milestone advances the exploration phase of the copper and silver deposit located southwest of Libby, the company points out.

It says the project represents an important step in unlocking the potential of high-grade copper and silver production in northwest Montana.

 As of December 31, 2024, the Libby project had an inferred resource of 112.2-million tonnes grading 0.7% copper and 1.6 oz/t silver, for contained metal of over 1.5-billion pounds of copper and 183-million ounces of silver.

Mineralisation remains open down dip and to the north, offering potential for further resource expansion.

The Rock Lake fault is thought to limit mineralisation extension to the west; however, the dip of the fault was previously interpreted to be dipping east, whereas new interpretations indicate it may be dipping to the west which would offer the potential to extend mineralisation in that direction as well, Hecla explains.

“We are pleased to see the US Forest Service advance the Libby project and we are grateful the FAST-41 process helped move this important project forward efficiently,” says Hecla president and CEO Rob Krcmarov.

“This approval represents years of collaboration among federal agencies, local and state officials and other stakeholders. The Libby project exemplifies our commitment to responsibly developing critical minerals in the US delivering long-term economic benefits to our communities and maintaining rigorous environmental stewardship,” he adds.

The Libby project’s exploration phase offers Hecla the opportunity to gather essential geological, hydrological and environmental data necessary to evaluate the full potential of the deposit.

The company says it intends to continue to work closely with federal and state agencies and local communities as the project advances.

Hecla says it is open to partnering with a strategic partner who could participate in the exploration phase and beyond, while maintaining the company’s economic exposure to the significant silver resources associated with the project.