Hana Mining Announces New Board Member
(firmenpresse) -
Hana Mining Announces New Board Member
July 15, 2010 (Vancouver, British Columbia). Hana Mining Ltd., (“HMG” or the “Company”) - (TSX-V: HMG) (Frankfurt: 4LH) is pleased to announce the appointment of Mr. David Kong to the Board of Directors of the Company effective immediately. In addition, Mr. Kong has been appointed Chairman of the Company’s Audit Committee and has served on the Company’s Advisory Board since March 19, 2010.
Mr. Kong was born in Malaysia where he completed his high school education. He earned his Bachelor degree in Business Administration in Taiwan and spent two years working in Singapore for South East Asia Iron & Steel Institute, a United Nations sponsored organization.
David immigrated to Canada in the early 1970’s where he studied marketing in the University of British Columbia’s MBA program. Mr. Kong then earned his Chartered Accountant designation in British Columbia and was a partner of Ellis Foster Chartered Accountants, the largest independent accounting firm in British Columbia, between 1981 and 2004. Ellis Foster merged with Ernst & Young LLP in 2005 and retained David as a partner of Ernst & Young LLP from 2005 to 2010 where he led its Chinese market practice in Canada and focused on servicing Canadian public companies doing business in China and Chinese public companies listed on the North American stock exchanges.
Hana Mining’s CEO, Marek Kreczmer, commented as follows:
“It has been an asset having David on our Advisory Board and I am thrilled that he has consented to join our Board of Directors and Chair our audit committee. His business, financial and regulatory knowledge will be invaluable as we continue our development.”
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 49.2 kilometres. This favourable geology extends over an estimated strike length of 600 kilometres. Hana Mining released results of its most recent NI 43-101 compliant resource estimate for the Ghanzi Project on April 21, 2010, announcing an inferred resource of 3.9 billion lbs of copper and 62.1 million oz of silver from 177 million tonnes. This resource estimate consists of 73.5 million tonnes grading 1.5% Cu and 19 g/t Ag in the Banana Zone, 13.4 million tonnes grading 1.7% Cu and 12 g/t Ag in Zone 5, 6.3 million tonnes grading 1.5% Cu and 7 g/t Ag in Zone 6; all at a cut-off grade of 0.75% Cu. Also included is 83.6 million tonnes grading 0.46% Cu and 3.6 g/t Ag at a cut-off grade of 0.30% in the Chalcocite Zone.
The Banana Zone exhibits certain areas of higher grade Cu and Ag mineralization, particularly in the Sectors 5000, 20000 and 65000 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 proposed rail and 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. Construction has begun on the 600MW expansion of the government-owned Moropule Power Plant, having secured US$825 million project funding in May 2009. The Ghanzi Copper- Silver Project is currently accessed by the paved Trans-Kalahari highway, which passes within 15 km of the property.
The Ghanzi property is 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
The TSX Venture Exchange has not reviewed and does not 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
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Datum: 16.07.2010 - 11:31 Uhr
Sprache: Deutsch
News-ID 24034
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