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04.06.2010
Hana Mining Expands Chalcocite Zone at Ghanzi Copper/ Silver Project
Hana Mining Expands Chalcocite Zone at Ghanzi Copper/ Silver Project
New Drilling Increases Strike Length of Chalcocite Zone by 1 Km
Vancouver, BC – June 3, 2010 – Hana Mining Ltd. (TSX-V: HMG)(Frankfurt – 4LH) (the “Company”) is pleased to announce its most recent drilling results based on the completion of 10 new RC holes drilled in the Chalcocite Zone at its Ghanzi copper-silver project in Botswana. These 10 new holes extend the mineralized strike-length of the Chalcocite Zone by 1,000 metres. No results from any of the new holes were used in the most recent NI 43-101 compliant inferred resource calculation provided in a press release dated April 21, 2010. The mineralization is open along strike and down dip. Hole locations are shown in Figures 1 and 2 and results are summarized in the accompanying table.
Highlights of recent drilling results:
 Strike length for the Chalcocite Zone has been increased by 1 kilometer. The Chalcocite Zone, the Company’s newly delineated and separate resource, currently contains over 0.85 billion lbs of copper.
 None of these holes were used in the (April 21, 2010) NI 43-101 compliant inferred resource calculation.
 All of the 10 completed RC holes returned significant mineralization, including step out holes:
 HA 194-R: 37 metres of 0.39% Cu and 3.3 g/t Ag
HA 195-R: 58 metres of 0.39% Cu and 3.2 g/t Ag
HA 202-R: 35 metres of 0.40% Cu and 3.7 g/t Ag
HA 207-R: 27 metres of 0.41% Cu and 0.4 g/t Ag
HA 209-R: 33 metres of 0.47% Cu and 4.0 g/t Ag
HA 211-R 30 metres of 0.43% Cu and 3.9 g/t Ag
Hana Mining’s CEO and Chairman, Marek Kreczmer, commented: “We are very excited with the results from the new drilling program on the Chalcocite Zone. The addition of 1,000 metres to the thick portion of the chalcocite mineralization significantly increases the size, and therefore the economic potential, of this bulk mine-able, and potentially leach-able, zone. The Chalcocite Zone is becoming an increasingly more significant component of the resources at the Ghanzi project while also providing Hana with production choices.An approximately 2000 metre drill program is planned later in the year to delineate the Chalcocite Zone resource to vertical depth of 200 metres.”
Please find the tables and the figures under the following link: http://www.irw-press.com/dokumente/NRGhanziUpdateJun310.pdf
Discussion of Results:
The Chalcocite Zone, though it abuts the southern end of the Banana Zone, is viewed as a newly delineated, and separate, resource because of its markedly different style, and shape, of mineralization. The Chalcocite Zone is primarily chalcocite and malachite, as opposed to the bornite and chalcopyrite as found elsewhere on the Ghanzi property. The mineralization is also much shallower, flatter, and thicker (up to 80m) and may be amenable to bulk mining methods with low strip ratio and lower cost processing techniques. The chalcocite/ malachite mineralogy also offers the potential for treatment by proven, low cost copper leaching methods, reducing capital costs compared to conventional milling/ flotation facilities. The resource remains open to the southwest, along strike and down dip, and currently is estimated at 850 million lbs of copper and 9.6 million oz. silver from 83.6 Mt, based on a 0.3% cut-off grade, averaging 0.46% Cu and 3.58 g/t Ag. Metallurgical work is currently underway.
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. For diamond drill samples, core is logged, split by sawing, and sampled by Company staff at site. For RC drill samples, a 35-40 kilogram sample is collected from the cyclone discharge at 1 metre intervals. RC samples are then split 75/25; 75% of the sample is archived and the other 25% provides material for analysis. All samples (both core and RC) 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 2,169 sq. km., and contains sediment-hosted copper-silver deposits with a demonstrated cumulative tested strike length of 37.2 kilometres. This favourable geology extends over the entire 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 is based on a 0.75% Cu cutoff grade, and averages 1.50% Cu and 18 g/t Ag from the Banana Zone and a 0.30% Cu cutoff grade, and averages of 0.46% Cu and 3.58 g/t Ag from the new Chalcocite Zone.
The Banana Zone exhibits certain areas of higher grade Cu and Ag mineralization, particularly in the Sectors 10000, 20000 and 65000 shown on Figure 2 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 proposed rail and underway 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 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@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.
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New Drilling Increases Strike Length of Chalcocite Zone by 1 Km
Vancouver, BC – June 3, 2010 – Hana Mining Ltd. (TSX-V: HMG)(Frankfurt – 4LH) (the “Company”) is pleased to announce its most recent drilling results based on the completion of 10 new RC holes drilled in the Chalcocite Zone at its Ghanzi copper-silver project in Botswana. These 10 new holes extend the mineralized strike-length of the Chalcocite Zone by 1,000 metres. No results from any of the new holes were used in the most recent NI 43-101 compliant inferred resource calculation provided in a press release dated April 21, 2010. The mineralization is open along strike and down dip. Hole locations are shown in Figures 1 and 2 and results are summarized in the accompanying table.
Highlights of recent drilling results:
 Strike length for the Chalcocite Zone has been increased by 1 kilometer. The Chalcocite Zone, the Company’s newly delineated and separate resource, currently contains over 0.85 billion lbs of copper.
 None of these holes were used in the (April 21, 2010) NI 43-101 compliant inferred resource calculation.
 All of the 10 completed RC holes returned significant mineralization, including step out holes:
 HA 194-R: 37 metres of 0.39% Cu and 3.3 g/t Ag
HA 195-R: 58 metres of 0.39% Cu and 3.2 g/t Ag
HA 202-R: 35 metres of 0.40% Cu and 3.7 g/t Ag
HA 207-R: 27 metres of 0.41% Cu and 0.4 g/t Ag
HA 209-R: 33 metres of 0.47% Cu and 4.0 g/t Ag
HA 211-R 30 metres of 0.43% Cu and 3.9 g/t Ag
Hana Mining’s CEO and Chairman, Marek Kreczmer, commented: “We are very excited with the results from the new drilling program on the Chalcocite Zone. The addition of 1,000 metres to the thick portion of the chalcocite mineralization significantly increases the size, and therefore the economic potential, of this bulk mine-able, and potentially leach-able, zone. The Chalcocite Zone is becoming an increasingly more significant component of the resources at the Ghanzi project while also providing Hana with production choices.An approximately 2000 metre drill program is planned later in the year to delineate the Chalcocite Zone resource to vertical depth of 200 metres.”
Please find the tables and the figures under the following link: http://www.irw-press.com/dokumente/NRGhanziUpdateJun310.pdf
Discussion of Results:
The Chalcocite Zone, though it abuts the southern end of the Banana Zone, is viewed as a newly delineated, and separate, resource because of its markedly different style, and shape, of mineralization. The Chalcocite Zone is primarily chalcocite and malachite, as opposed to the bornite and chalcopyrite as found elsewhere on the Ghanzi property. The mineralization is also much shallower, flatter, and thicker (up to 80m) and may be amenable to bulk mining methods with low strip ratio and lower cost processing techniques. The chalcocite/ malachite mineralogy also offers the potential for treatment by proven, low cost copper leaching methods, reducing capital costs compared to conventional milling/ flotation facilities. The resource remains open to the southwest, along strike and down dip, and currently is estimated at 850 million lbs of copper and 9.6 million oz. silver from 83.6 Mt, based on a 0.3% cut-off grade, averaging 0.46% Cu and 3.58 g/t Ag. Metallurgical work is currently underway.
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. For diamond drill samples, core is logged, split by sawing, and sampled by Company staff at site. For RC drill samples, a 35-40 kilogram sample is collected from the cyclone discharge at 1 metre intervals. RC samples are then split 75/25; 75% of the sample is archived and the other 25% provides material for analysis. All samples (both core and RC) 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 2,169 sq. km., and contains sediment-hosted copper-silver deposits with a demonstrated cumulative tested strike length of 37.2 kilometres. This favourable geology extends over the entire 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 is based on a 0.75% Cu cutoff grade, and averages 1.50% Cu and 18 g/t Ag from the Banana Zone and a 0.30% Cu cutoff grade, and averages of 0.46% Cu and 3.58 g/t Ag from the new Chalcocite Zone.
The Banana Zone exhibits certain areas of higher grade Cu and Ag mineralization, particularly in the Sectors 10000, 20000 and 65000 shown on Figure 2 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 proposed rail and underway 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 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@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.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA4096391012">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA4096391012</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.