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Infill Drilling Continues to Encounter Thick Intersections of Copper-Silver Mineralization along the North Limb of the Banana Zone


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
http://www.hanamining.com/i/maps/2011-05-30_NRM1sm.jpg

*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
http://www.hanamining.com/i/maps/2011-05-30_NRM2sm.jpg


Figure 3: Cross-section through section 64675 (North Limb)
Click to Enlarge
http://www.hanamining.com/i/maps/2011-05-30_NRM3sm.jpg


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.


 

 

Data and Statistics for these countries : Botswana | Namibia | South Africa | All
Gold and Silver Prices for these countries : Botswana | Namibia | South Africa | All
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TSX-V (HMG.V)FRANKFURT (4LH.F)
0.810+0.00%0.144+132.26%
TSX-V
CA$ 0.810
02/19 16:59 -
0%
Prev close Open
0.810 0.810
Low High
0.810 0.810
Year l/h YTD var.
0.740 -  0.810 1.25%
52 week l/h 52 week var.
0.330 -  0.860 97.56%
Volume 1 month var.
61,000 -%
24hGold TrendPower© : 27
Produces
Develops
Explores for Copper - Silver
 
 
 
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Annual variation
DateVariationHighLow
201365.31%
2012-64.23%2.250.30