HudBay Minerals updates on Nickel Grade at Fenix Project

HudBay Minerals Inc. (TSX:HBM) reported a new National Instrument 43-101 compliant mineral resource estimate for the Fenix project in eastern Guatemala.

The press release is quoted as saying:

This new resource estimate replaces the previously reported 41.4 million tonnes at 1.63% nickel in the Proven and Probable reserve category, as contained in the technical report on Fenix filed by HudBay in November 2008. The previous reserve was calculated from saprolite Measured and Indicated resources of 61.45 million tonnes at 1.49% nickel.

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