|
Vancouver, BC June 24, 2009 � Hana Mining Ltd. (TSX-V:
HMG) (Frankfurt 4LH) (the Company) is pleased to
announce that further to the Company�s news release dated June 1, 2009,
the independent National Instrument 43-101 compliant inferred resource
estimate for its Ghanzi Copper-Silver deposit
in Botswana has been filed on SEDAR. The estimate for the global
resource is 2.9 billion pounds of copper and 51.5 million ounces of
silver from 163.5 million tonnes. The
resource is based on a 0.30% Cu cutoff and averages 0.82% Cu and 9.8
g/t Ag. At a cutoff of 0.75% Cu, the resource totals 60.4 million tonnes containing 2.0 billion pounds copper and
34.9 million ounces silver with an average grade of 1.51% Cu and 17.68
g/t Ag. No adjustments have been made for mining recoveries or
production yields. This resource estimate is based largely on a 15
month drilling program that included 98 core holes totaling 15,000 metres and 50 RC holes totaling 6,600 metres. Results of the resource estimate are shown
in Table 1, below.
TABLE
1
|
NI 43-101 Inferred Resource Details
at 150 Metre Depth
& Various Cut-Off Grades
|
|
Copper
Cut-Off Grade
(%)
|
Resource
Tonnes
(metric)
|
Copper
|
Silver
|
|
PPM
|
Grade
(%)
|
Pounds *
|
Grade (g/t)
|
Ounces *
|
|
|
|
|
|
|
|
|
|
0.30
|
163,544,571
|
8,226
|
0.82
|
2,965,865,108
|
9.81
|
51,561,367
|
|
0.40
|
107,325,774
|
10,774
|
1.08
|
2,549,128,435
|
12.65
|
43,657,362
|
|
0.50
|
82,980,580
|
12,620
|
1.26
|
2,308,736,868
|
14.86
|
39,634,579
|
|
0.75
|
60,381,070
|
15,149
|
1.51
|
2,016,533,032
|
17.98
|
34,912,312
|
|
*Note: Metal estimates are in-situ, and are not adjusted
for mining losses or production yields.
|
About the Ghanzi Copper-Silver Project in Botswana
The Ghanzi Project is located in northwestern Botswana.
The property consists of five license blocks covering 2,200 square
kilometers and is host to widespread sediment-hosted copper-silver
mineral-ization. The property has been
explored intermittently since 1962 by numerous companies when copper
prices were low and regional infrastructure was not as advanced. Power
is available from the town of Maun (population of 50,000), situated on
the northern end of the property; and the paved trans-Kalahari highway,
which runs from Namibia to South Africa, passes within 10 km of the
north end of the property.
About Hana Mining
Hana Mining is a junior exploration company
developing the highly prospective Ghanzi
Copper Silver Project in Botswana, Africa. The property consists of
five license blocks covering 2,200 square kilometers that contain
widespread sediment-hosted copper-silver mineralization. The Company
has the right to acquire a 70% controlling interest in the Ghanzi Copper-Silver Project.
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.
FURTHER
INFORMATION
Contact :
Peter G. Wilson
President & Director
Hana Mining Ltd.
Tel: (604) 676-0824
Email: info@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.
|