HANA FILES NI 43-101
(firmenpresse) -
HANA FILES NI 43-101
May 19, 2010 (Vancouver, British Columbia) Hana Mining Ltd., (“HMG” or the “Company”) - (TSX-V: HMG) (Frankfurt: 4LH) is pleased to announce that further to its news release of April 21, 2010, it has now filed its completed updated independent National Instrument NI 43-101 compliant resource estimate for its Ghanzi sediment-hosted copper-silver project in Botswana with Sedar. The new resource estimate represents a substantial increase in tonnes, at approximately the same copper grades as the previous June 2009 estimate.
The updated resource estimate was prepared by GeoLogix Mineral Resource Consultants (Pty) Ltd. of Potchefstroom, South Africa (“GeoLogix”). This estimate updates the previous resource estimate (HMG news release June 1, 2009) by GeoLogix, reflecting 8 months of drilling exclusively in the Banana Zone, and a new section at the southwestern end of the Banana Zone referred to as the Chalcocite Zone. Zones 5 and 6 were not drilled and consequently the resource estimates remain unchanged.
About Hana Mining’s Ghanzi Copper-Silver Project in Botswana:
The Ghanzi Project is located in the center of the Kalahari copper belt in northwestern Botswana. The Ghanzi property covers 2,169 sq. km., and contains sediment-hosted copper-silver deposits with a demonstrated cumulative tested strike length of 37.6 kilometres. This favourable geology extends over the entire strike length of 600 kilometres Hana Mining released results of it’s first NI 43-101 resource estimate for the Ghanzi Project in June 2009, announcing an inferred resource of 2.0 billion lb of copper and 34.9 million oz of silver from 60.4 million tonnes. This resource estimate is based on a 0.75% Cu cutoff grade, and averages 1.51% Cu and 17.98 g/t Ag. The Banana Zone represents 40.7 million tonnes of this total resource (67%), has been the focus of the Company’s drilling and development efforts for 2009, and will remain the primary focus for 2010.
The Banana Zone exhibits certain areas of high grade Cu and Ag mineralization, particularly in the New Discovery area and the fold nose at the northern end of the zone, which represent an opportunity to locate starter pits and mine initial tonnages at higher than average grades. These higher grade pockets tend to be well within open pit depth parameters and represent opportunities to improve early cash flow and overall returns in development.
The project will benefit from contemplated rail/power infrastructure expansions, along with proximity to local population centers and workforce. A feasibility study is currently underway (funded by the World Bank and the governments of Botswana and Namibia) to support completion of a rail line link that would connect Botswana with the Namibian port of Walvis Bay, on the Atlantic coast. The closest existing railhead (to port) is at Gobabis, in Namibia, approximately 550 km from our property. A planned 600MW expansion of the government-owned Moropule Power Plant continues to advance, with US$825 million project funding secured in May 2009, and key supply contracts awarded. Currently, our project is served by the paved Trans-Kalahari highway, which passes within 15 km of the property.
Hana Mining is focused on demonstrating that the Ghanzi property represents one of Africa’s premier future copper-silver resources.
For Further Information, contact:
Marek Kreczmer, CEO
Hana Mining Ltd.
Tel: (604) 676-0824
Email: info(at)hanamining.com
Website: www.hanamining.com
Neither the TSX Venture Exchange or its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) have reviewed nor do they accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Leseranfragen:
Hana Mining Ltd.
Hana Mining Ltd.
Suite 1620 - 701 West Georgia Street
Vancouver, BC
Canada V7Y 1K8
Telephone: 604-676-0824
Fax: 778-370-0146
Email: info(at)hanamining.com
Datum: 20.05.2010 - 14:07 Uhr
Sprache: Deutsch
News-ID 21228
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