New Hana Provides Exploration Update for the Kuke Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/28/11 -- New Hana Copper Mining Ltd. ("HML" or the "Company") (TSX VENTURE: HML) is pleased to provide an update on the exploration activities at its 100%-owned Kuke copper-silver project, located in northwestern Botswana.
The following exploration activities are ongoing to fulfill the goal of the discovery of copper-silver mineralization at the Kuke Project:
The Company remains well financed with Cdn$4.0 million in cash on hand.
Please visit the Company's website at for additional details on the Company and the Kuke Project.
New Hana Copper Mining's President and CEO, Mr. Marek Kreczmer, commented as follows:
"We will continue with our strategy of using relatively inexpensive remote sensing methods (soil geochemistry and geophysics) which have been extremely successful in the past at Hana Mining Ltd's Ghanzi Project, which is adjacent to the Kuke Project, to identity any potential copper-silver anomalies at Kuke. I believe by taking the prudent patient approach to exploring the Kuke property, which is in excess of 10,000 square kilometers, will yield significant returns for our shareholders."
About New Hana Copper's Kuke Copper-Silver Project in Botswana:
The exploration-stage Kuke Project is located in the center of the Kalahari Copper Belt in northwestern Botswana. The Kuke property covers 10,654 square kilometres and is adjacent and along strike to Hana Mining Ltd.'s ("Hana") Ghanzi Copper Silver Project. On December 20, 2011 Hana released results of its most recent NI 43-101 compliant resource estimate for the Ghanzi Project announcing an Indicated mineral resource of 585 million pounds of copper and 12 million ounces of silver from 19.7 million tonnes at a grade of 1.35% copper and 19.7 g/t silver. All of the Indicated resources are from the Banana Zone. There are also Inferred resources of 2.4 billion pounds of copper and 40.6 million ounces of silver from 91.2 million tonnes. This Inferred mineral resource estimate consists of 69.9 million tonnes grading 1.10% Cu and 14.98 g/t Ag in the Banana Zone, 13.4 million tonnes grading 1.66% Cu and 12.11 g/t Ag in Zone 5, 6.3 million tonnes grading 1.5% Cu and 6.7 g/t Ag in Zone 6, and 1.6 million tonnes grading 0.85% Cu and 6.4 g/t Ag in the Chalcocite Zone; all at a cut-off grade of 0.75% Cu.
The Kuke project will benefit from proposed rail and power infrastructure expansions, along with proximity to local population centers and workforce. A feasibility study was recently completed (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 2010. The Kuke Copper- Silver Project is currently accessed by the paved Trans-Kalahari highway, which passes within 5 km of the property.
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
New Hana Copper Mining Ltd.
Investor Relations
(604) 682-4262
(778) 370-0146 (FAX)
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Datum: 28.11.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 91329
Anzahl Zeichen: 3172
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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