- Published: 11 November 2009
- Written by Editor
Hana Mining RC Drilling Intersects 2.07% Cu and 30.7 g/t Ag Over 9 m (Including 2.98% Cu Plus 48.1 g/t Ag Over 5 m) in South Limb of Banana Zone, and Extends Mineralized Strike 1000 m
Hana Mining Ltd., ("HMG" or the "Company") - (TSX VENTURE: HMG) (FRANKFURT: 4LH) is pleased to announce completion of 7 new RC drill holes at its Ghanzi sediment-host copper-silver project in Botswana. Results extend total mineralization by 1000 metres along strike for a new section in the Banana Zone (6% total zone increase), specifically the northeastern section (section 65,000, Figure 1) of the South Limb.
Highlights of recent drilling results:
- These seven holes increase the mineralized strike length for the Banana Zone by 1000 metres, to a total 17.2 km, now 11% (1,700 metres) greater than the strike length reflected in the current NI 43-101 resource estimate,
- Three RC drills are now working the Banana Zone (one in the South Limb) and we are expecting assay results on another 4 completed holes in the South Limb soon. The other two drill rigs are working other sections of Banana Zone, targeting high priority new resource areas between prior drill programs,
- Higher grade mineralized zones with mineable thicknesses were evident in three of the seven holes in this section of the South Limb, continuing to support the possibility of a high-grade starter pit in this section, similar to other sections in Banana Zone, and
- Copper and silver assay results in this area of the South Limb continue to show significant mineralization, good thickness, and consistency along strike, down to a maximum vertical depth of 150 metres.
The results of the seven new holes in section 65,000 (South Limb) are as follows:
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Area From To Intercept Copper Silver
Hole & Grid Hole (metre (metre Length Grade Grade
Number Reference Type depth) depth) (metres) (%) (g/t)
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HA-69-R South Limb Step-Out 145 154 9 2.07 30.7
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65,000 including 148 154 6 2.58 41.4
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including 149 154 5 2.98 48.1
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HA-68-R South Limb Step-Out 113 121 8 1.41 18.7
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65,000 including 115 121 6 1.83 24.3
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including 117 121 4 2.42 32.0
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HA-73-R South Limb Step-Out 137 145 8 1.35 23.1
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65,000 including 141 145 4 2.43 39.6
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including 142 145 3 3.07 50.0
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HA-72-R South Limb Step-Out 93 100 7 1.27 13.6
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65,000 including 97 100 3 1.96 22.3
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including 98 100 2 2.50 30.1
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HA-71-R South Limb Step-Out 110 115 5 1.29 13.0
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65,000 including 113 114 1 3.24 38.3
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HA-70-R South Limb Step-Out 150 156 6 1.09 11.5
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65,000 including 151 152 1 1.77 19.8
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including 151 155 4 1.55 16.7
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including 153 154 1 3.24 35.2
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HA-67-R South Limb Step-Out 60 63 3 1.05 13.0
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65,000 including 62 63 1 1.61 17.0
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All intercepts reported are intersection length, estimated to represent greater than 80% of true thickness.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/hmg1111fig1.pdf
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/hmg1111fig2.pdf
Hana Mining's CEO and Chairman, Marek Kreczmer, commented as follows:
"This second batch of drill results in the northern end of the South Limb continues to demonstrate this area to be well mineralized for both copper and silver and generally consistent as to grade and thickness, down to the 150 metre vertical depth maximum we have generally applied to the Ghanzi property. We now have announced assay results on 10 of the 14 RC holes we have planned for this area, and we couldn't be more pleased with the consistent and positive result. The drill rig working this area has now moved 3 km south of the current mineralized sections and will begin working additional new targets. All of the potential mineralization in this area (60,000 to 65,000, see Fig. 1) will represent new strike and tonnes we can consider in our next 43-101 resource estimate. Mineralization remains open both north and south along strike from these ten RC holes, as well as down dip, and again we see significantly higher than average grade (+2% Cu) copper and silver intercepts that will potentially locate starter pits and enhance early project returns in development."
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 21.7 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 country of Botswana is considered by the Fraser Institute Annual Survey of Mining Companies 2009 country ranking study to offer the most attractive mineral exploration and investment climate in Africa. On October 16th, the voters returned President Ian Kama and the governing Botswana Democratic Party (BDP) to power for another 5 year term. This is the 10th general election since the country achieved independence in 1966. The BDP received 53.7% (+3%) of the popular vote, won 45 (+1) of 57 Parliamentary seats, and was given a mandate by voters to pursue its election platform of focusing on creating jobs, diversifying the economy, and strengthening the mining-dominated (40%) sector (particularly copper) through investment in transport, energy, and water infrastructure.
Hana Mining is focused on demonstrating that the Ghanzi property represents one of Africa's premier future copper-silver resources.
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: Hana Mining Ltd. Marek Kreczmer CEO & Chairman (604) 676-0824 This email address is being protected from spambots. You need JavaScript enabled to view it. www.hanamining.com
SOURCE: Hana Mining Ltd.
mailto:This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.hanamining.com
