Huakan International Mining Inc

Published : February 27th, 2011

Huakan Drills 5.50 metres grading 7.0 g/t Au, 57.02 g/t Ag, 1.70% Pb and 6.26% Zn at J&L

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

 

Huakan Drills 5.50 metres grading 7.0 g/t Au, 57.02 g/t Ag, 1.70% Pb and 6.26% Zn at J&L  

 

February 22, 2011 � Vancouver, British Columbia. Huakan International Mining Inc. (TSX-V: HK) (the �Company�) releases results for eight holes of an underground drilling program on its 100% owned gold-silver-lead-zinc J&L property, located near Revelstoke, B.C. The Company has now completed the Phase I drill program with 60 holes in 7,897 metres. Results for holes MM10-01 to MM10-18 were released on January 13th (News Release 11-01) and January 19th (News Release 11-02); assays for the remaining 36 holes are expected in March. The program is aimed at verifying the historic drilling and expanding the limits of the Main Zone mineralization, in order to complete a National Instrument 43-101 resource estimate in the spring of 2011. 

 

The Phase 1 drill program consistently intercepted Main Zone type mineralization of alternating bands of massive sulphide mineralization, stringer sulphide mineralization, and lesser mineralized sections hosted in phyllite and limestone. Latest results include: 5.50 metres (true thickness estimated) grading 7.00 g/t Au, 57.02 g/t Ag, 1.70% Pb and 6.26% Zn; 4.94 metres (true thickness estimated) grading 4.79 g/t Au, 53.42 g/t Ag, 2.14% Pb and 4.45% Zn; and 16.70 metres (true thickness estimated) grading 3.61 g/t Au, 37.22 g/t Ag, 0.98% Pb and 0.65% Zn.  Highlights from holes MM10-19 to MM10-26 are tabled below.

 

Highlights

Hole ID

From (m)

To

(m)

Length (m)

Est. True Thickness (m)

Au

(g/t)

Ag

(g/t)

Pb

(%)

Zn

(%)

MM10-19

83.58

84.58

1.00

0.98

14.15

118.05

3.55

4.35

MM10-20

107.43

108.77

1.34

0.71

0.13

63.64

4.09

10.93

 

119.29

150.80

31.51

16.70

3.61

37.22

0.98

0.65

including

119.29

124.32

5.03

2.67

4.88

72.31

4.16

2.60

including

125.07

134.09

9.02

4.78

2.87

18.53

0.12

0.01

including

140.98

150.80

9.82

5.20

6.05

59.81

0.86

0.72

MM10-21

84.45

87.48

3.03

2.88

7.26

63.49

1.11

1.24

MM10-22

121.45

132.45

11.00

5.50

7.00

57.02

1.70

6.26

including

121.45

122.25

0.80

0.40

13.25

76.81

3.10

3.39

including

126.45

132.45

6.00

3.00

10.95

93.13

2.67

11.02

MM10-23

163.75

165.82

2.07

1.04

10.67

32.92

1.15

1.19

 

171.67

176.17

4.50

2.25

7.01

136.67

4.67

5.61

MM10-24

77.29

81.33

4.04

3.18

3.29

54.07

2.01

3.50

MM10-25

96.00

109.25

13.25

9.37

3.23

23.68

0.98

2.15

including

96.00

96.50

0.50

0.35

8.83

82.40

3.95

2.70

including

99.50

101.90

2.40

1.70

6.34

42.81

2.45

7.75

including

103.60

109.25

5.65

4.00

3.91

28.56

0.85

1.41

MM10-26

150.33

162.96

12.63

4.94

4.79

53.42

2.14

4.45

including

150.33

151.84

1.51

0.59

11.73

28.18

1.31

10.11

including

158.03

162.96

4.93

1.93

6.91

123.01

5.01

8.23


 

The J&L property is one of the largest undeveloped polymetallic deposits in British Columbia. The 2,325 hectare property hosts the significant precious metal and polymetallic Main Zone deposit. The Main Zone is a stratiform, structurally deformed massive sulphide deposit. Surface exploration has traced the Main Zone for 3 kilometres and historic drilling has identified the Main Zone for 1.4 kilometres in strike length and a down dip extent of 800 metres. The Main Zone averages 2.5 metres thick. A high density drill pattern (approx. 30 m drill centers) defines the Main Zone on longitudinal section over an area of 800 metres long by 200 metres down dip. The deposit is open along strike and both up dip and down dip.

 

For the holes reported in this release, holes MM10-20, 22, 23 and 26 extend the Main Zone down dip over a longitudinal surface area of 140 metres by 50 metres. Holes MM10-19, 21, 25 and 25 were drilled approximately 320 metres to the southeast and over a longitudinal surface area of 120 metres by 140 metres

 

The Phase 1 drill program was under the supervision of Paul Cowley, P.Geo., the Company�s Qualified Person and VP Exploration. BQTW-sized core samples have been cut in half and sent to Eco Tech Laboratory Ltd. (Stewart Group) in Kamloops, BC. Samples are assayed for gold by fire assay (50 gram charge) as well as assayed for silver, lead and zinc. The Company inserted standards, blanks and duplicate samples throughout the sample sequence as quality control checks.

 

Assays on the remaining drill holes are pending.

 

For further information please contact:

Paul Cowley, P.Geo. or Jeffrey Ren, Chief Financial Officer, at (604) 694-2344

 

 

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING INFORMATION

 

Certain of the statements made and information contained herein may contain forward-looking statements or forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or forward-looking information include, but are not limited to, statements concerning: the results of the Company�s drill program at the J&L project and the Company�s exploration plans.    Forward-looking statements or information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as �plans�, �expects�, �is expected�, �budget�, �scheduled�, �estimates�, �forecasts�, �intends�, �anticipates�, or �believes&r! dquo; or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results �may�, �could�, �would�, �might� or �will� be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. 

 

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: completion of announced transactions, history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; limited history of production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment; labour disputes; supply problems; commodity price fluctuations; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; lega! l and regulatory proceedings and community actions; title matters; regulatory restrictions; permitting and licensing; volatility of the market price of common shares; insurance; competition; hedging activities; currency fluctuations; and loss of key employees. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company�s business contained in the Company�s reports filed with the securities regulatory authorities in Canada.

http://www.huakanmining.com/cwnfn_mailGen/dummy_img?action=unsubscribe&id_schedule=71&mail=newsrelease@24hgold.com&code=e6445bbcc3924ca48fa9d803f617b6c5

.

Huakan International Mining Inc

PRODUCER
CODE : HK.V
ISIN : CA 58988R1047
CUSIP : 58988R104
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Huakan International is a nickel and zinc producing company based in Canada.

Huakan International produces nickel, zinc, gold in Canada, develops copper, gold, lead, silver and zinc in Canada, and holds various exploration projects in Canada.

Its main asset in production is BOUNDARY - CARAMELIA in Canada, its main assets in development are J & L - YELLOW JACKET, GREENWOOD - LONE STAR, GREENWOOD - LEXINGTON GRENOBLE, J & L and GREENWOOD - GOLDEN CROWN in Canada and its main exploration properties are WELBAR, BOUNDARY - MIDWAY, BOUNDARY - OLD NICK, PROMISE and MYRTLE-PROSERPINE in Canada.

Huakan International is listed in Canada. Its market capitalisation is CA$ 23.8 millions as of today (US$ 24.4 millions, € 17.6 millions).

Its stock quote reached its lowest recent point on September 18, 2009 at CA$ 0.01, and its highest recent level on May 21, 2010 at CA$ 1.65.

Huakan International has 32 582 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Huakan International Mining Inc
9/15/2011Arranges Non-brokered Private Placement Up to $5,000,000
12/1/2010closes private placement of $3,000,500
8/9/2010Cancels Private Placement
6/29/2010Closes Second Tranche of $15.5 million Private Placement
6/25/2010Announces Update to Non-Brokered Private Placement
5/7/2008Closes First Tranche of Private Placement...
4/18/2008Closes Final Tranche of Flow-Through Private Placement
3/12/2008Reports First Closing of Flow-Through Private Placement
2/26/2008Arranges $3.5 Million Flow-Through Private Placement
Option Grants of Huakan International Mining Inc
10/15/2012Engages TMX Equicom for Investor Relations Services
Nominations of Huakan International Mining Inc
4/25/2013Appoints David Bo to Its Board of Directors
8/24/2011Appoints New CEO and VP Acquisitions and Extends Closing Dat...
6/30/2010reports on AGM and appoints Chairman
12/22/2009Appoints New Director
Project news of Huakan International Mining Inc
4/24/2012Receives Positive Preliminary Economic Assessment for its J&...
9/12/2011Extends Closing Date Of Sale of Greenwood Gold Project Asset...
5/13/2011(Myrtle-proserpine)Sells Myrtle-Proserpine and Promise Properties
5/13/2011(Promise)Sells Myrtle-Proserpine and Promise Properties
3/29/2011(Greenwood - Lone Star)Announces Sale of Greenwood Gold Project Assets
3/29/2011(Greenwood - Golden Crown)Announces Sale of Greenwood Gold Project Assets
3/29/2011(Greenwood - Lexington Grenoble)Announces Sale of Greenwood Gold Project Assets
3/25/2011(J & L)Drills 11.07 Metres Grading 5.25 g/t Au, 31.55 g/t Ag, 0.80%...
2/27/2011(J & L)Huakan Drills 5.50 metres grading 7.0 g/t Au, 57.02 g/t Ag, ...
8/11/2010(J & L)completes 100% acquisition of J&L Property
6/2/2008(Greenwood - Lone Star)Greenwood Mill Reaches Commercial Production
5/9/2008(Greenwood - Lone Star)Receives Mine and Mill Operating Permits
4/23/2008(Greenwood - Lone Star)Continues to Expand the Lexington-Grenoble Deposit
3/4/2008(Greenwood - Lone Star) Commissions its Greenwood Gold Project Mill
2/28/2008(Greenwood - Lexington Grenoble) Reports 6.1 Metre Intercept Grading 50.62 gpt Au from Golde...
Corporate news of Huakan International Mining Inc
10/8/2013. Announces Entering into Forbearance Agreement in Respect o...
8/19/2013. Initiates Legal Action to Enforce Security in Respect of t...
7/31/2013. Intends to Enforce Security in Respect of the Greenwood Go...
6/11/2013. Reports on Default of Purchasers Under the Amended and Res...
6/11/2013. Reports on Default of Purchasers Under the Amended and Res...
6/11/2013. Reports on Default of Purchasers Under the Amended and Res...
2/18/2013. Provides Update on the Net Smelter Returns Royalty Buyout ...
1/17/2013. Provides Update on J&L Metallurgical Testwork
1/9/2013. Receives $530,000 Relating to the Net Smelter Returns Roya...
11/6/2012. Announces Additional Amendments to the Agreement Relating ...
10/9/2012. Announces an Amendment to the Agreement Relating to the Ne...
9/26/2012. Grants Stock Options
9/18/2012.: Updated Mineral Resource Doubles Indicated Tonnes on Main...
12/3/2011Closes Sale of Greenwood Gold Assets And Serves Notice of Re...
6/16/2011. Extends Closing Date of Sale of Greenwood Gold Project Ass...
6/7/2011(Myrtle-proserpine)Closes the Sale of its Myrtle-Proserpine, Promise Propertie...
5/25/2010NR 10-06
5/12/2010Makes J&L Option Payment
12/23/2009Signs Memorandum of Understanding
12/22/2009Director Ronald MacArthur Passes Away
12/3/2009Shares for Debt Proposal to Debentureholders Rejected
10/20/2009Shares for Debt Proposal to Debentureholders Rejected
9/11/2009to Consolidate its Shares
2/17/2009granted extension for filing proposal under the BIA
1/2/2009NR 09-01
12/5/2008temporary layoff notices to its employees at its Greenwood G...
12/4/2008Files Notice of Intention to Make a Proposal Under the Bankr...
10/2/2008Arranges Convertible Debenture of Up to $5.0 Million
8/18/2008expects positive cash flow by late 2008
8/15/2008Announces Final Closing of Convertible Debentures
7/22/2008Reports on First Closing of Convertible Debenture Offering
6/25/2008arranges Convertible Debenture
5/12/2008and Osoyoos Indian Band Sign Landmark Impacts and Benefits A...
5/9/2008. is Not a Delinquent Filer
4/1/2008Reports Drill Results from J&L Property
2/19/2008Merit Mining Signs Concentrate Off-Take Agreement with Glenc...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (HK.V)
0.7300
TSX-V
Prev close Open
Low High
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  - -100.00%
Volume 1 month var.
-100.00%
Produces Gold
Develops Copper - Gold - Lead - Silver - Zinc
Explores for Cobalt - Copper - Gold - Nickel
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/7/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.52+0.47%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.05+2.47%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-0.92%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.64+1.93%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.84+4.55%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20-4.76%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.87+4.47%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 50.86+0.63%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :