View this News Release in PDF Format
December 6, 2010 (Vancouver, British Columbia). Hana Mining Ltd.,
("Hana" or the "Company") - (TSX-V: HMG)
(Frankfurt: 4LH) is pleased to announce its most recent drilling
results from the completion of 12 diamond drill holes from the Banana
Zone at its Ghanzi sediment hosted Copper-Silver Project in Botswana.
Diamond drilling was carried out within the New Discovery area (between
sections 50125 to 51250 on the North Limb (Figure 1) to test the down
dip extensions of copper-silver mineralization.
These results are from new holes and are in addition to those used in
the most recent NI 43-101 compliant Inferred mineral resource
calculation (see Table 1). The mineralization remains open along strike
and at depth.
Highlights of recent drilling results:
- Drilling
is progressing as scheduled. Total drilling on the Banana Zone to
date is approximately 68,700 metres.
- These
latest results extend the down dip extension of mineralization by
approximately 50 metres at the New Discovery area.
- Wide
intercepts of 0.95% Cu and 20.0 g/t Ag over 32.0 metres (including
1.55% Cu and 34.0 g/t Ag over 16.8 metres) in hole HA-238-D, 0.59%
Cu and 10.0 g/t Ag over 36.4 metres (including 2.30% Cu and 41.0
g/t Ag over 5.5 metres) in hole HA-237-D, 0.58% Cu and 13.0 g/t Ag
over 32.3 metres (including 1.49% Cu and 42.0 g/t Ag over 8.0
metres) in hole HA-241-D, and 0.49% Cu and 6.0 g/t Ag over 39.3
metres (including 1.13% Cu and 11.0 g/t Ag over 8.0 metres) in
hole HA-244-D.
Discussion of Results:
Hana is currently working on an exploration drilling program at the New
Discovery area of the Banana Zone. The drilling program is being
carried out to delineate the down-dip extensions of copper-silver
mineralization. The first fence of 12 drill holes is detailed in this
press release (Figure 2).
At New Discovery, all 12 drill holes intersected significant
copper-silver mineralization at depths ranging between 177-254 metres
(Figure 3). On average copper-silver mineralization was extended along
dip by a distance of approximately 50 metres.
The mineralization remains open along strike and at depth.
Figure 1: Location of Most Recent Drilling Results at the Banana Zone
Click to Enlarge
*Please note all figures are now showing section grid lines that are
referenced in the result tables.
Figure 2: Drill Hole Location of North Limb, Sections 50125 to 51250
Click to Enlarge
Figure 3: Cross-section through section 50250 (North Limb)
Click to Enlarge
Development Update:
The following engineering and consultation activities are ongoing to
fulfill the goal of completion of a PEA by Q1 2011:
- Preliminary
mine open pit modeling has been carried out using the April 2010
resource as a basis to define the parameters to be used. A revised
model will be completed after the 2010 drilling has been
incorporated;
- Resource
modeling is progressing as expected;
- Metallurgical
(column leaching) work, which is being carried out by Metcon
Research in Tucson, Arizona, on the Chalcocite Zone is ongoing.
Results are expected to be available by the end of the year;
- Field
work for water exploration is ongoing;
- Stefanutti
Stocks Mining Services of Johannesburg South Africa have been
engaged by Hana to provide the preliminary tailing impoundment
designs for the project;
- Further
details on the Ghanzi Project can be found on Hana's updated
website (www.hanamining.com).
Hana Mining's CEO and Chairman, Marek
Kreczmer, commented as follows:
"While we have drilled the entire 64 kilometre strike length of
the Banana Zone, we are only now beginning to test the down dip
mineralized extensions of this zone which have the potential to add
significant amount of copper and silver to our resource base. The first
fence of drill holes 50 metres below known mineralization met our
expectations. We fully expect that with deeper drilling that we will
continue to encounter similarly thick intersects of high-grade
copper-silver mineralization."
Qualified Person and Quality Assurance/Quality Control
The drilling program and results are reviewed and approved by Vivian
Park, P.Geo., Senior Geologist/Database Manager for Hana. She is the
qualified person as defined in NI 43-101 and has reviewed the technical
information in this press release.
Drill core is logged and photographed. Mineralized intervals are split
in half by sawing, and sampled at site. The remainder of the core is
kept as a permanent record. Samples are placed into labelled bags,
closed and packed into sealed bags that are shipped to ALS Chemex
Laboratory in Johannesburg, South Africa. Hana has implemented an
industry-standard QA/QC program that includes the blind insertion of
certified standards, duplicates and blanks into the sample stream.
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 square
kilometres, and contains sediment-hosted copper-silver deposits with a
demonstrated cumulative tested strike length of 70 kilometres. This
favorable geology extends over an estimated 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 mineral resource of 3.9 billion pounds of copper
and 62.1 million ounces of silver from 177 million tonnes.
This mineral resource estimate consists of 73.5 million tonnes grading
1.5% Cu and 19 g/t Ag in the Banana Zone, 13.4 million tonnes grading
1.7% Cu and 12 g/t Ag in Zone 5, 6.3 million tonnes grading 1.5% Cu and
7 g/t Ag in Zone 6; all at a cut-off grade of 0.75% Cu. Also included
is 83.6 million tonnes grading 0.46% Cu and 3.6 g/t Ag at a cut-off
grade of 0.30% in the Chalcocite Zone.
The Banana Zone exhibits certain areas of higher grade Cu and Ag
mineralization, particularly between sections 49700 to 52000 on the
North limb and sections 63000 to 71000 on both the North and South
limb, 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 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 2010. 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 is 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
Patrick Donnelly
VP -- Corporate Development
Hana Mining Ltd.
Tel: (604) 676-0824
Email: patrick@hanamining.com
Website: www.hanamining.com
Table 1: Drill Results from North Limb, Sections 50125 to 51250 -
Interval indicates down hole interval
Hole #
|
Section
|
Mineralized
Zone
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Ag
(g/t)
|
New
Discovery Deep Drilling
|
HA-236-D
|
50125
|
New Discovery
|
210.00
|
221.00
|
11.00
|
0.58
|
2.0
|
includes
|
|
|
211.00
|
214.15
|
3.15
|
1.53
|
5.0
|
includes
|
|
|
211.00
|
212.00
|
1.00
|
3.45
|
10.0
|
|
|
|
235.00
|
244.18
|
9.18
|
0.39
|
6.0
|
includes
|
|
|
239.00
|
243.00
|
4.00
|
0.52
|
9.0
|
HA-237-D
|
50250
|
New Discovery
|
221.00
|
257.43
|
36.43
|
0.59
|
10.0
|
includes
|
|
|
224.46
|
238.32
|
13.86
|
1.20
|
21.0
|
includes
|
|
|
224.46
|
230.00
|
5.54
|
2.30
|
41.0
|
includes
|
|
|
253.00
|
257.43
|
4.43
|
0.38
|
7.0
|
HA-238-D
|
50425
|
New Discovery
|
156.00
|
188.00
|
32.00
|
0.95
|
20.0
|
includes
|
|
|
161.20
|
178.00
|
16.80
|
1.55
|
34.0
|
includes
|
|
|
186.00
|
188.00
|
2.00
|
0.87
|
12.0
|
HA-239-D
|
50525
|
New Discovery
|
208.33
|
236.12
|
27.79
|
0.61
|
11.0
|
includes
|
|
|
208.33
|
220.26
|
11.93
|
1.14
|
21.0
|
includes
|
|
|
209.50
|
216.38
|
6.88
|
1.63
|
32.0
|
includes
|
|
|
233.00
|
235.30
|
2.30
|
0.79
|
11.0
|
HA-240b-D
|
50625
|
New Discovery
|
226.00
|
236.00
|
10.00
|
0.56
|
12.0
|
includes
|
|
|
227.00
|
229.00
|
2.00
|
1.21
|
28.0
|
includes
|
|
|
227.00
|
235.00
|
8.00
|
0.66
|
14.0
|
HA-240b-D
|
|
|
242.00
|
253.68
|
11.68
|
0.30
|
4.0
|
includes
|
|
|
250.00
|
253.68
|
3.68
|
0.53
|
6.0
|
HA-241-D
|
50725
|
New Discovery
|
214.00
|
246.30
|
32.30
|
0.58
|
13.0
|
includes
|
|
|
218.83
|
228.00
|
9.17
|
1.41
|
38.0
|
includes
|
|
|
220.00
|
228.00
|
8.00
|
1.49
|
42.0
|
includes
|
|
|
240.00
|
246.30
|
6.30
|
0.60
|
8.0
|
HA-242-D
|
50850
|
New Discovery
|
254.00
|
282.00
|
28.00
|
0.37
|
4.0
|
includes
|
|
|
254.00
|
264.00
|
10.00
|
0.44
|
4.0
|
includes
|
|
|
277.00
|
281.40
|
4.40
|
0.68
|
7.0
|
Hole #
|
Section
|
Mineralized
Zone
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Ag
(g/t)
|
New
Discovery Deep Drilling
|
HA-243-D
|
50950
|
New Discovery
|
192.22
|
223.20
|
30.98
|
0.53
|
7.0
|
includes
|
|
|
193.00
|
209.00
|
16.00
|
0.68
|
9.0
|
includes
|
|
|
195.00
|
199.70
|
4.70
|
1.20
|
7.0
|
includes
|
|
|
208.00
|
209.00
|
1.00
|
1.63
|
29.0
|
includes
|
|
|
218.79
|
223.20
|
4.41
|
0.58
|
7.0
|
HA-244-D
|
51050
|
New Discovery
|
189.72
|
229.00
|
39.28
|
0.49
|
6.0
|
includes
|
|
|
196.00
|
206.00
|
10.00
|
1.05
|
11.0
|
includes
|
|
|
197.00
|
205.00
|
8.00
|
1.13
|
11.0
|
includes
|
|
|
212.00
|
214.00
|
2.00
|
0.57
|
13.0
|
includes
|
|
|
226.00
|
228.00
|
2.00
|
1.12
|
13.0
|
includes
|
|
|
227.40
|
228.00
|
0.60
|
2.55
|
30.0
|
HA-245-D
|
51125
|
New Discovery
|
177.00
|
189.62
|
12.62
|
0.15
|
2.0
|
HA-245-D
|
|
|
196.34
|
230.81
|
34.47
|
0.40
|
6.0
|
includes
|
|
|
198.00
|
200.66
|
2.66
|
0.81
|
6.0
|
includes
|
|
|
199.00
|
200.00
|
1.00
|
1.12
|
8.0
|
HA-245-D
|
|
|
211.00
|
215.00
|
4.00
|
0.65
|
14.0
|
includes
|
|
|
211.00
|
212.00
|
1.00
|
1.13
|
22.0
|
HA-245-D
|
|
|
227.00
|
229.97
|
2.97
|
1.40
|
17.0
|
HA-246-D
|
51225
|
New Discovery
|
185.80
|
187.00
|
1.20
|
0.26
|
4.0
|
HA-246-D
|
|
|
209.38
|
211.60
|
2.22
|
0.74
|
4.0
|
HA-246-D
|
|
|
219.00
|
240.55
|
21.55
|
0.40
|
5.0
|
includes
|
|
|
231.00
|
240.55
|
9.55
|
0.75
|
10.0
|
includes
|
|
|
238.00
|
240.55
|
2.55
|
1.61
|
19.0
|
HA-247-D
|
51250
|
New Discovery
|
227.00
|
242.00
|
15.00
|
0.36
|
6.0
|
includes
|
|
|
239.00
|
242.00
|
3.00
|
0.93
|
13.0
|
includes
|
|
|
241.22
|
242.00
|
0.78
|
1.41
|
20.0
|
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.