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North Limb of Banana Zone extended 800 meters
along strike, total strike length now 3,000 meters
Vancouver, BC
– April 14, 2009 – Hana Mining Ltd. (TSX-V: HMG) (Frankfurt –
4LH) (the “Company��) is pleased to report new results at its
sediment-hosted Ghanzi Copper-Silver Project in Botswana. Nine
diamond drill holes, HA-72-D to HA-80-D, were drilled along the north
limb of the Banana Zone. Eight of these holes intersected
copper-silver mineralization and the strike length along the north limb
has been extended an additional 800 meters. In total, drilling by
Hana has now extended mineralization along a 3,000 meter strike
length.
Highlights of results for the new
holes are as follows:
|
Hole Number
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
TCu
(%)
|
SCu
(%)
|
Ag
(g/t)
|
|
HA-75-D
|
122
|
138
|
16
|
1.09
|
0.09
|
24.7
|
|
including
|
128
|
138
|
10
|
1.47
|
0.14
|
36.5
|
|
and
|
129
|
130.4
|
1.4
|
1.49
|
0.19
|
31.0
|
|
and
|
134
|
137
|
3
|
3.07
|
0.73
|
75.9
|
|
HA-72-D
|
60
|
67
|
7
|
0.78
|
0.29
|
11.7
|
|
including
|
62
|
65
|
3
|
1.08
|
0.29
|
17.2
|
|
and
|
63
|
64
|
1
|
1.60
|
0.47
|
28.1
|
|
HA-73-D
|
112.6
|
117.1
|
4.5
|
1.73
|
0.20
|
28.6
|
|
HA-74-D
|
124.5
|
127
|
2.5
|
0.93
|
0.08
|
11.8
|
|
including
|
124.5
|
126
|
1.5
|
1.31
|
0.11
|
16.3
|
|
and
|
124.5
|
125
|
0.5
|
2.34
|
0.17
|
28.4
|
|
Hole Number
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
TCu
(%)
|
SCu
(%)
|
Ag
(g/t)
|
|
HA-77-D
|
90
|
94
|
4
|
0.95
|
0.14
|
24.1
|
|
including
|
92
|
93
|
1
|
1.86
|
0.26
|
53.5
|
|
and
|
92
|
94
|
2
|
1.32
|
0.19
|
35.7
|
|
HA-78-D
|
150
|
156
|
6
|
0.66
|
0.06
|
10.4
|
|
including
|
158
|
160
|
2
|
1.11
|
0.10
|
27.3
|
|
and
|
159
|
160
|
1
|
1.47
|
0.13
|
38.8
|
|
HA-79-D
|
147
|
165
|
18
|
0.44
|
0.04
|
5.1
|
|
including
|
147
|
148
|
1
|
1.27
|
0.01
|
5.5
|
|
and
|
156
|
158
|
2
|
1.16
|
0.11
|
17.2
|
|
and
|
157
|
158
|
1
|
1.54
|
0.14
|
24.1
|
|
and
|
164
|
165
|
1
|
1.08
|
0.18
|
20.1
|
|
HA-80-D
|
85
|
91
|
6
|
0.70
|
0.09
|
8.8
|
|
including
|
86
|
87
|
1
|
1.21
|
0.16
|
19.2
|
|
and
|
90
|
91
|
1
|
1.60
|
0.18
|
17.1
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Intercepts reported are intersection length and are estimated to
be 80% or more of true width. Drill
sections and a 3D model can be viewed at the following link
http://www.corebox.net/properties/ghanzi/ or by visiting the Company's website at www.hanamining.com.
Holes HA-72, 73 and 76-D were designed to fill
in a gap along the north limb of the Banana Zone. Holes HA-72 and 73-D
were drilled on the same section and HA-76-D was collared 200 meters
along strike to the southwest. The latter was drilled along a well
oxidized barren fault zone. Holes HA-74, 75 and 77-to 80-D were
designed to test strike continuity to the southwest at 200 meter
intervals. Drilling by Hana has demonstrated continuity in
mineralization along a 3,000 meter continuous strike length in this
part of the north limb at the Banana Zone. Drilling by Anglo American
in the early 1990’s delineated mineralization along an additional 300
meters to the northeast for a total mineralized strike length of 3,300
meters. Results for 7 more holes drilled along an additional 1,800
meter strike length along the north limb are pending. With these
results the north limb will have been explored over a 5,100 meter
strike length.
The north and south limbs of the Banana Zone
are each 30 kilometers in length. To date Hana has tested 9.1
kilometers along the north limb and 4.8 kilometers along the south
limb. All mineralization intersected to date is open along strike
and down dip. A total of 46 kilometers remain untested at the Banana
Zone.
Property
The 5 original license blocks have been reduced by 50% as
required by Botswana law and are in good standing for two years. The
new area now comprises 2,200 km2 and is illustrated in the
figure above. The retained area includes all of the zones described previously
as well as more than 600 kilometers of potential strike length while
the relinquished ground represents barren footwall sandstones with
little exploration value.
Quality Assurance/Quality Control
Hana has implemented an industry-standard QA/QC program.
Drill core is logged, split by sawing and sampled at site. Samples are
bagged, labeled, sealed and packed in sealed containers and shipped to
Scientific Services Laboratory in Cape Town, South Africa. Standards
and blanks are inserted into the sample stream.
For details on current drilling
activities refer to attached maps and links http://www.hanamining.com/s/Ghanzi.asp?ReportID=303741).
Other Business
The Company also announces that it has agreed to settle an
aggregate debt of $12,500 owed to certain creditors by the issuance of
52,085 of its common shares at a deemed price of $0.24 per share
on a post-share consolidation basis, being the closing price of the
Company’s shares on March 31, 2009. All shares to be issued in
connection with the proposed debt settlement will be subject to a 24
month resale restriction.
The proposed debt settlement is subject to the
approval of the TSX Venture Exchange.
About Hana Mining
Hana Mining is a junior exploration company seeking to acquire,
explore and develop highly prospective precious, base metal and other
mineral projects worldwide with emphasis in southern Africa. The
Company has the right to acquire a 70% controlling interest in the
Ghanzi Copper-Silver Project. The property consists of five license
blocks covering 2,200 square kilometers that contain widespread
sediment-hosted copper-silver mineralization.
Joseph Arengi, M. Sc., P. Geo., Vice President of Exploration
for Hana Mining is the qualified person as defined in NI 43-101.
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.
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