View News Release in PDF Format
May 30, 2011 (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 27
infill diamond drill holes in the Banana Zone at its Ghanzi sediment hosted Copper-Silver Project in
Botswana.
Infill drilling was carried out on the North Limb area (between
sections 63925 to 65750 at North Limb North; Figures 1 and 2) to
convert a substantial amount of the NI 43-101 compliant resources
within this area into the Indicated category from the Inferred
category.
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 at the end of this press release for the
results from all 27 drill holes). The mineralization remains open at
depth.
Highlights of recent drilling results:
- Drilling is progressing as scheduled.
Total drilling to date is approximately 12,297 metres
(core and reverse circulation).
- These latest results confirm the
continuity of copper-silver mineralization along the North Limb of
the Banana Zone.
- Intercepts of 0.56% Cu and 11.0 g/t Ag
over 27.9 metres (including 3.49% Cu and
69.0 g/t Ag over 1.5 metres) in hole
HA-265-D, 0.47% Cu and 3.0 g/t Ag over 27.6 metres
(including 1.24% Cu and 7.0 g/t Ag over 7.9 metres)
in hole HA-273-D, 0.61% Cu and 11.0 g/t Ag over 16.8 metres (including 1.02% Cu and 21.0 g/t Ag
over 8.6 metres) in hole HA-267-D and
0.54% Cu and 9.0 g/t Ag over 21.4 metres
(including 0.89% Cu and 13.0 g/t Ag over 8.5 metres)
in hole HA-260-D.
Discussion of
Results:
The infill drilling program at North Limb North has confirmed that
copper-silver mineralization is continuous and has consistent widths
and in some sections it bifurcates into two high-grade zones within a
very wide, lower grade, mineralized envelope (Figure 3). This drilling
will allow for the conversion more mineral resources from the Inferred
category into the Indicated category.
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 63925 to 65750
Click to Enlarge
Figure 3: Cross-section through section 64675 (North Limb)
Click to Enlarge
Development Update
The following engineering and consultation activities are ongoing:
- Drilling is continuing at the Banana Zone
(five core drills) with another drill expected to be mobilized to
site within the next couple of weeks.
- The Terms of Reference ("ToR") meeting was held recently with the
Botswana Department of Environmental Affairs. The ToR will dictate the parameters of the
Environmental Impact Assessment.
Hana Mining's CEO and Chairman, Marek Kreczmer, commented as follows:
"The infill drilling program continues to show that copper-silver
mineralization at the Banana Zone is thick and has good continuity. We
continue to be pleased with the results from the infill drilling
program at the Banana Zone which will allow for the conversion of a
substantial amount of Inferred Resources into the Indicated
category."
Qualified Person and Quality Assurance/Quality Control
The drilling program and results are reviewed and approved by Fred Stahlbush., VP Engineering for Hana.
He 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 2,149 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 December
20, 2010, announcing an Indicated mineral resource of 762 million
pounds of copper and 16 million ounces of silver from 37.4 million tonnes at a grade of 0.93% copper and 13.4 g/t
silver. All of the Indicated resources are from the Banana Zone. There
are also Inferred resources of 5.6 billion pounds of copper and 85.4
million ounces of silver from 423.9 million tonnes.
This Inferred mineral resource estimate consists of 225.4 million tonnes grading 0.64% Cu and 8.1 g/t Ag in the
Banana Zone, 20.7 million tonnes grading
1.23% Cu and 8.7 g/t Ag in Zone 5, 16.7 million tonnes
grading 0.86% Cu and 4.0 g/t Ag in Zone 6, and 161.1 million tonnes grading 0.45% Cu and 3.6 g/t Ag in the Chalcocite Zone; all at a cut-off grade of 0.30%
Cu.
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 limbs, 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 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 is one of Africa's
premier future copper-silver resources.
For Further Information, contact:
Marek Kreczmer
Chief Executive Officer
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, Banana Zone, Sections 63925 to
65750 - Interval indicates down hole interval
Hole #
|
Section
|
Mineralized
Zone
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Ag
(g/t)
|
HA-257-D
|
NL63925
|
North Limb North
|
91.00
|
116.00
|
25.00
|
0.43
|
12.0
|
includes
|
|
|
103.00
|
108.00
|
5.00
|
1.51
|
42.0
|
includes
|
|
|
106.00
|
108.00
|
2.00
|
2.97
|
81.0
|
HA-258-D
|
NL63925
|
North Limb North
|
136.47
|
147.80
|
11.33
|
0.36
|
8.0
|
includes
|
|
|
136.47
|
146.38
|
9.91
|
0.40
|
9.0
|
HA-258-D
|
|
|
154.00
|
157.88
|
3.88
|
0.54
|
14.0
|
includes
|
|
|
156.00
|
157.00
|
1.00
|
1.35
|
34.0
|
HA-259-D
|
NL63925
|
North Limb North
|
53.00
|
70.00
|
17.00
|
0.29
|
4.0
|
includes
|
|
|
62.00
|
67.00
|
5.00
|
0.64
|
7.0
|
HA-260-D
|
NL64775
|
North Limb North
|
83.70
|
105.10
|
21.40
|
0.54
|
9.0
|
includes
|
|
|
84.50
|
93.00
|
8.50
|
0.89
|
13.0
|
includes
|
|
|
102.00
|
103.00
|
1.00
|
1.06
|
26.0
|
HA-261-D
|
NL64675
|
North Limb North
|
25.00
|
44.00
|
19.00
|
0.47
|
4.0
|
includes
|
|
|
29.00
|
33.00
|
4.00
|
1.78
|
10.0
|
includes
|
|
|
29.00
|
31.82
|
2.82
|
2.30
|
7.0
|
HA-262-D
|
N64875
|
North Limb North
|
27.00
|
48.00
|
21.00
|
0.31
|
3.0
|
includes
|
|
|
35.24
|
38.15
|
2.91
|
1.46
|
11.0
|
includes
|
|
|
35.24
|
37.28
|
2.04
|
1.70
|
8.0
|
HA-263-D
|
NL64675
|
North Limb North
|
48.00
|
73.00
|
25.00
|
0.45
|
7.0
|
includes
|
|
|
51.40
|
56.00
|
4.60
|
0.81
|
4.0
|
includes
|
|
|
53.00
|
54.00
|
1.00
|
1.18
|
5.0
|
includes
|
|
|
69.02
|
72.00
|
2.98
|
1.11
|
30.0
|
includes
|
|
|
70.50
|
71.10
|
0.60
|
3.75
|
101.0
|
HA-264-D
|
NL64875
|
North Limb North
|
65.25
|
90.50
|
25.25
|
0.31
|
5.0
|
includes
|
|
|
65.68
|
67.45
|
1.77
|
0.63
|
3.0
|
includes
|
|
|
79.61
|
82.00
|
2.39
|
1.06
|
21.0
|
includes
|
|
|
79.61
|
81.37
|
1.76
|
1.11
|
22.0
|
HA-265-D
|
N64675
|
North Limb North
|
100.47
|
128.36
|
27.89
|
0.56
|
11.0
|
includes
|
|
|
100.47
|
120.00
|
19.53
|
0.72
|
14.0
|
includes
|
|
|
101.00
|
102.50
|
1.50
|
1.09
|
4.0
|
includes
|
|
|
106.50
|
106.75
|
0.25
|
4.42
|
87.0
|
includes
|
|
|
111.89
|
112.14
|
0.25
|
1.45
|
32.0
|
includes
|
|
|
116.67
|
118.20
|
1.53
|
3.49
|
69.0
|
HA-266-D
|
N65075
|
North Limb North
|
28.00
|
49.00
|
21.00
|
0.31
|
3.0
|
includes
|
|
|
38.30
|
42.00
|
3.70
|
0.79
|
11.0
|
HA-267-D
|
N65075
|
North Limb North
|
63.84
|
80.65
|
16.81
|
0.61
|
11.0
|
includes
|
|
|
71.41
|
80.04
|
8.63
|
1.02
|
21.0
|
includes
|
|
|
71.41
|
72.00
|
0.59
|
3.81
|
87.0
|
includes
|
|
|
74.20
|
74.46
|
0.26
|
2.20
|
52.0
|
includes
|
|
|
77.68
|
78.40
|
0.72
|
2.86
|
54.0
|
HA-268-D
|
N65175
|
North Limb North
|
34.00
|
59.00
|
25.00
|
0.37
|
4.0
|
includes
|
|
|
42.83
|
47.27
|
4.44
|
1.47
|
14.0
|
includes
|
|
|
42.83
|
46.25
|
3.42
|
1.66
|
13.0
|
HA-269-D
|
NL65275
|
North Limb North
|
64.00
|
80.70
|
16.70
|
0.31
|
5.0
|
includes
|
|
|
76.96
|
78.78
|
1.82
|
1.76
|
35.0
|
HA-270-D
|
NL65075
|
North Limb North
|
104.65
|
129.28
|
24.63
|
0.52
|
11.0
|
includes
|
|
|
110.92
|
111.37
|
0.45
|
2.85
|
47.0
|
includes
|
|
|
116.92
|
118.47
|
1.55
|
2.23
|
44.0
|
includes
|
|
|
117.54
|
118.47
|
0.93
|
3.13
|
62.0
|
includes
|
|
|
127.97
|
129.28
|
1.31
|
3.77
|
96.0
|
HA-271-D
|
N64875
|
North Limb North
|
113.23
|
136.00
|
22.77
|
0.55
|
8.0
|
includes
|
|
|
113.80
|
129.35
|
15.55
|
0.73
|
11.0
|
includes
|
|
|
113.80
|
116.00
|
2.20
|
1.27
|
4.0
|
includes
|
|
|
121.38
|
121.63
|
0.25
|
6.91
|
98.0
|
includes
|
|
|
125.87
|
129.35
|
3.48
|
1.30
|
26.0
|
HA-272-D
|
N65275
|
North Limb North
|
111.70
|
136.47
|
24.77
|
0.23
|
3.0
|
includes
|
|
|
118.24
|
121.85
|
3.61
|
0.86
|
13.0
|
includes
|
|
|
119.98
|
121.85
|
1.87
|
1.15
|
19.0
|
HA-273-D
|
N65475
|
North Limb North
|
23.00
|
50.60
|
27.60
|
0.47
|
3.0
|
includes
|
|
|
33.20
|
41.12
|
7.92
|
1.24
|
7.0
|
includes
|
|
|
33.80
|
36.72
|
2.92
|
2.57
|
8.0
|
includes
|
|
|
40.82
|
41.12
|
0.30
|
1.20
|
2.0
|
HA-274-D
|
N65575
|
North Limb North
|
82.00
|
105.00
|
23.00
|
0.18
|
4.0
|
includes
|
|
|
97.17
|
99.88
|
2.71
|
0.53
|
12.0
|
HA-275-D
|
N65275
|
North Limb North
|
151.90
|
153.50
|
1.60
|
0.40
|
2.0
|
HA-275-D
|
|
|
160.41
|
172.00
|
11.59
|
0.41
|
7.0
|
includes
|
|
|
160.41
|
162.80
|
2.39
|
1.51
|
26.0
|
includes
|
|
|
161.30
|
162.80
|
1.50
|
1.99
|
40.0
|
HA-276-D
|
N65475
|
North Limb North
|
72.00
|
91.00
|
19.00
|
0.41
|
7.0
|
includes
|
|
|
76.17
|
79.30
|
3.13
|
1.76
|
37.0
|
includes
|
|
|
77.91
|
79.30
|
1.39
|
2.94
|
63.0
|
HA-277-D
|
N65475
|
North Limb North
|
104.48
|
132.00
|
27.52
|
0.21
|
3.0
|
includes
|
|
|
118.55
|
124.00
|
5.45
|
0.57
|
11.0
|
includes
|
|
|
118.55
|
118.97
|
0.42
|
1.65
|
27.0
|
includes
|
|
|
120.15
|
120.72
|
0.57
|
1.65
|
32.0
|
HA-278-D
|
NL65750
|
North Limb North
|
72.60
|
90.50
|
17.90
|
0.72
|
14.0
|
includes
|
|
|
72.60
|
74.32
|
1.72
|
1.57
|
10.0
|
includes
|
|
|
80.00
|
80.27
|
0.27
|
1.06
|
26.0
|
includes
|
|
|
82.47
|
87.50
|
5.03
|
1.20
|
29.0
|
HA-279-D
|
NL65275
|
North Limb North
|
38.90
|
63.00
|
24.10
|
0.33
|
3.0
|
includes
|
|
|
50.20
|
53.91
|
3.71
|
1.01
|
10.0
|
includes
|
|
|
52.15
|
53.91
|
1.76
|
1.67
|
19.0
|
HA-280-D
|
N65675
|
North Limb North
|
20.00
|
43.62
|
23.62
|
0.37
|
3.0
|
includes
|
|
|
28.79
|
31.50
|
2.71
|
1.51
|
6.0
|
includes
|
|
|
28.79
|
30.74
|
1.95
|
1.89
|
8.0
|
includes
|
|
|
42.79
|
43.20
|
0.41
|
1.87
|
8.0
|
HA-281-D
|
NL65675
|
North Limb North
|
60.06
|
83.00
|
22.94
|
0.36
|
6.0
|
includes
|
|
|
70.00
|
82.00
|
12.00
|
0.59
|
11.0
|
includes
|
|
|
73.00
|
73.74
|
0.74
|
2.04
|
43.0
|
includes
|
|
|
73.00
|
75.10
|
2.10
|
1.17
|
24.0
|
includes
|
|
|
78.72
|
79.10
|
0.38
|
1.77
|
42.0
|
includes
|
|
|
81.00
|
82.00
|
1.00
|
1.22
|
25.0
|
HA-282-D
|
NL65375
|
North Limb North
|
38.57
|
60.05
|
21.48
|
0.54
|
7.0
|
includes
|
|
|
51.63
|
58.00
|
6.37
|
1.24
|
20.0
|
includes
|
|
|
52.28
|
55.23
|
2.95
|
2.29
|
38.0
|
HA-286-D
|
NL65675
|
North Limb North
|
116.70
|
130.00
|
13.30
|
0.28
|
4.0
|
includes
|
|
|
116.70
|
121.47
|
4.77
|
0.58
|
10.0
|
includes
|
|
|
118.92
|
119.32
|
0.40
|
2.63
|
56.0
|
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.