Hana Mining RC drilling intersects 1.10% Cu and 21.2 g/t Ag over 4 metres in South Limb of Banana Zo
(firmenpresse) - Hana Mining RC drilling intersects 1.10% Cu and 21.2 g/t Ag over 4 metres in South Limb of Banana Zone; discovers mineralization in new area of Banana Zone; extends mineralized strike 1600 metres.
November 24, 2009 (Vancouver, British Columbia). Hana Mining Ltd., (“HMG” or the “Company”) - (TSX-V: HMG) (Frankfurt: 4LH) is pleased to announce completion of 14 new RC drill holes at its Ghanzi sediment-host copper-silver project in Botswana. Results extend total mineralization by 1600 metres along strike for two sections in the Banana Zone (9% total zone increase), specifically the South Limb, located in section 65,000 (see Figure 1), and a new section with initial RC hole results, known as the Southwest Fold Closure (“SW Fold”), located in section 40,000 (see Figure 1).
Highlights of recent drilling results:
•These 14 step-out holes increase the mineralized strike length in the Banana Zone by 1600 metres, to a total 18.8 km, now 21% (3,300 metres) greater than the strike length reflected in the current NI 43-101 resource estimate.
oFour new holes in the South Limb (section 65,000) extend mineralized strike length by 600 metres, to 1.8 km, and
oTen new holes in the SW Fold (section 40,000) represent new mineralized strike length of 1000 metres in an area never tested by any type of drilling, located 10 km from the nearest mineralized drill hole in the Banana Zone.
•These most recent assay results are positive in both areas of the Banana Zone.
oResults in the South Limb show continuation of mineable grade copper/silver mineralization trending south from previously released results, and
oFirst results from the SW Fold drill campaign show lower grade, near-surface mineralization over large widths (16 to 48 metres), and at shallow dip.
oMain copper minerals in the SW Fold are malachite and chalcocite, unlike other areas which are predominantly bornite and chalcopyrite.
•Three RC drills continue working high priority targets in the Banana Zone: one rig continues work in the South Limb, a second rig continues in the new SW Fold area and a third rig is filling in gaps in diamond drill holes on the North Limb (section 10,000). Additional drill results on the South Limb (5 holes) and the SW Fold (15 holes) are pending and expected soon.
To view the news including tables and maps, please follow the link:
http://www.irw-press.com/dokumente/HanaMining241109_ENGLISH.pdf
Hana Mining’s CEO and Chairman, Marek Kreczmer, commented as follows:
“This third batch of RC drill results from the northern end of the South Limb continues to extend strike length and demonstrate this area to be well mineralized for both copper and silver. The next batch of results (5 holes) will reflect a bigger step-out, 3 km south of these holes, giving us an indication of just how persistent this mineralized section will be on its southern leg. The mineralization results from the SW Fold are different from what we have seen elsewhere, in terms of grade and ore type, but the considerably thicker mineral intercepts, at shallow depth and gentle dip do suggest a potential resource. Our work in this area is really just beginning. We expect to have considerably more assay and intercept information in the near future, with which to put this southern-most section of the Banana Zone into context with the rest of the resource. All of the potential mineralization in both of these areas represents new strike and tonnes we can consider in our next 43-101 resource estimate.”
Qualified Person and Quality Assurance/Quality Control
Joseph Arengi, M. Sc., P. Geo., Vice President of Exploration for Hana Mining is the qualified person as defined in NI 43-101 and has reviewed the technical information in this press release.
The Company has implemented an industry-standard QA/QC program. A 35-40 kilogram sample is collected from the cyclone discharge at 1 meter intervals. The sample is then split 75/25; 75% of the sample is archived and the other 25% provides material for analysis. All samples are double bagged, sealed and transported in secured wooden crates and shipped to Scientific Services Laboratory in Cape Town, South Africa. Standards, duplicates and blanks are inserted into the sample stream. The analytical method for the total Cu, Ag, Pb, and Zn is acid digestion and Atomic Absorption Spectroscopy (“AAS”). The analytical method for soluble Cu is 5% sulfuric acid cold leach followed by AAS. The analytical method for Mo assays is XRF (full matrix correction).
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 2,200 sq. km., and contains sediment-hosted copper-silver deposits with a demonstrated cumulative mineralized strike length of 23.3 kilometres. This favourable geology extends over the entire strike length of 600 kilometres Hana Mining recently released results of it’s first NI 43-101 resource estimate for the Ghanzi Project (see press release dated June 1, 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%), and is the current focus of the Company’s drilling efforts and development focus for 2009 and 2010.
The Banana Zone exhibits certain areas of high grade Cu and Ag mineralization, particularly in 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 +2% Cu 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 & Chairman
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
" alt="ZIMTU CAPITAL CORP. ANNOUNCES PRIVATE PLACEMENTDatum: 25.11.2009 - 17:54 Uhr
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