HANA MINING LTD 
By
News Releases
2012September 24, 2012Hana
Mining Finds Strong Copper-Silver Mineralization from New
Drill Program at Zone 6September 24, 2012 (Vancouver,
British Columbia). Hana Mining Ltd. ("Hana" or the
"Company") - (TSX-V: HMG) (Frankfurt: 4LH) (BSE:
HANA) is pleased to announce strong results from the
completed initial exploration drilling program of Zone 6 at
the Ghanzi sediment hosted Copper-Silver Project in
Botswana.
The exploration drilling at Zone 6 is part of an investigation to identify the potential for higher-grade areas within Hana's licenses beyond the Banana Zone. While previous drilling at Zone 6 took place in 2008, the results reported today include 24 all new diamond core holes (5175.37m) that have been drilled since March 2012. Zone 6 has a one-kilometer strike length of high-grade copper and silver. Mineralization begins near surface, just below the Kalahari sand cover. Drilling to date has exhibited high-grade intervals averaging 1.7% copper over an average width of 6 metres.
Highlights of drilling results from Zone 6:
(2) These and other assay results from Zone 6 are listed in Table 1 at the end of this news release,
Hana Mining's CEO and Chairman, Marek Kreczmer, commented as follows:
"As our geological model of the Ghanzi project evolves, we have gone back to Zone 6 which has returned some promising but inconsistent drill results in 2008. We now know that Zone 6 mineralization is predominantly confined to a siltstone unit just above the D'Kar and Ngwako Pan contact. Mineralization within this unit is proving to be consistent over the one kilometre strike length. Its continuous high-grade nature makes Zone 6 a good potential target to consider for further deep drilling.
We are pleased to be able to confirm the trend of higher grade copper and silver which follows through our properties. We are currently continuing work to understand the nature of the geology and continue to discover more mineralization."
Figure 1: Location of Zone 6 Drilling Results at the Ghanzi Project
*Please note all figures are now showing section grid lines that are referenced in the result tables.
Figure 2: Drill Hole Location for Zone 6, includes sites of drill holes reported July 17 and November 24, 2008
Figure 3: Cross-section through section N154000
Figure 4: Long Section showing CuEq over width
Qualified Person and Quality Assurance/Quality Control
The drilling program and results are reviewed and approved by Marek Kreczmer, Chief Executive Officer 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 labeled bags, closed and packed into sealed bags that are shipped to Scientific Services Laboratory in Cape Town, 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.
On May 14, 2012 Hana Mining released results of its most recent NI 43-101 compliant Preliminary Economic Assessment ("PEA") for the Ghanzi Project. The PEA details a 10,000 tonne per day open-pit mining and milling operation at the Banana Zone and Zone 5 at an initial capital expenditure of US$285.5 million. This operation is expected to produce approximately 66.4 million pounds of copper and 878,000 ounces of silver annually over a minimum 13-year mine life.
The project will benefit from proposed rail and power infrastructure expansions, along with proximity to local population centers and workforce. A feasibility study was carried out (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 is well advanced 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 40 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
Table 1: Drill Results from Zone 6, Sections HA1530-D -- HA579-D. Interval indicates down hole interval lengths
Copper equivalent calculated using US$3.00/lb Cu, US$30/oz Ag
and is not adjusted for metallurgical recoveries. The formula
used is as follows: CuEq = Cu% + (Ag g/t x 0.01458).
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.
You can view the Previous News Releases item: Tue Sep 18, 2012, Hana Mining Welcomes Two New Board Members page, or press the Back button on your browser.
The exploration drilling at Zone 6 is part of an investigation to identify the potential for higher-grade areas within Hana's licenses beyond the Banana Zone. While previous drilling at Zone 6 took place in 2008, the results reported today include 24 all new diamond core holes (5175.37m) that have been drilled since March 2012. Zone 6 has a one-kilometer strike length of high-grade copper and silver. Mineralization begins near surface, just below the Kalahari sand cover. Drilling to date has exhibited high-grade intervals averaging 1.7% copper over an average width of 6 metres.
Highlights of drilling results from Zone 6:
- 2.33% CuEq(1) (2.12% Cu and 14.0 g/t Ag) over 8.57 metres in hole HA-533a-D,
- 2.18% CuEq(1) (1.98% Cu and 14.0 g/t Ag) over 7.19 metres within a wider mineralized interval of 1.14% CuEq(1) (1.02% Cu and 8.0 g/t Ag) over 15.29 metres in hole HA-533b-D,
- 15.07% CuEq(1) (13.72% Cu and 92.4 g/t Ag) over 0.27 metres and 2.02% CuEq(1) (1.85% Cu and 12.0 g/t Ag) over 8.99 metres within a wider mineralized interval of 1.12% CuEq(1) (1.02% Cu and 7.0 g/t Ag) over 17.64 metres in hole HA-535-D,
- 1.52% CuEq(1) (1.32% Cu and 14.0 g/t Ag) over 14.66 metres within a wider mineralized interval of 1.11% CuEq(1) (0.97% Cu and 10.0 g/t Ag) over 20.96 metres in hole HA-572-D,
- 1.57% CuEq(1) (1.41% Cu and 11.0 g/t Ag) over 12.21 metres within a wider mineralized interval of 1.04% CuEq(1) (0.94% Cu and 7.0 g/t Ag) over 21.03 metres in hole HA-575-D,
(2) These and other assay results from Zone 6 are listed in Table 1 at the end of this news release,
Hana Mining's CEO and Chairman, Marek Kreczmer, commented as follows:
"As our geological model of the Ghanzi project evolves, we have gone back to Zone 6 which has returned some promising but inconsistent drill results in 2008. We now know that Zone 6 mineralization is predominantly confined to a siltstone unit just above the D'Kar and Ngwako Pan contact. Mineralization within this unit is proving to be consistent over the one kilometre strike length. Its continuous high-grade nature makes Zone 6 a good potential target to consider for further deep drilling.
We are pleased to be able to confirm the trend of higher grade copper and silver which follows through our properties. We are currently continuing work to understand the nature of the geology and continue to discover more mineralization."
Figure 1: Location of Zone 6 Drilling Results at the Ghanzi Project
*Please note all figures are now showing section grid lines that are referenced in the result tables.
Figure 2: Drill Hole Location for Zone 6, includes sites of drill holes reported July 17 and November 24, 2008
Figure 3: Cross-section through section N154000
Figure 4: Long Section showing CuEq over width
Qualified Person and Quality Assurance/Quality Control
The drilling program and results are reviewed and approved by Marek Kreczmer, Chief Executive Officer 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 labeled bags, closed and packed into sealed bags that are shipped to Scientific Services Laboratory in Cape Town, 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.
On May 14, 2012 Hana Mining released results of its most recent NI 43-101 compliant Preliminary Economic Assessment ("PEA") for the Ghanzi Project. The PEA details a 10,000 tonne per day open-pit mining and milling operation at the Banana Zone and Zone 5 at an initial capital expenditure of US$285.5 million. This operation is expected to produce approximately 66.4 million pounds of copper and 878,000 ounces of silver annually over a minimum 13-year mine life.
The project will benefit from proposed rail and power infrastructure expansions, along with proximity to local population centers and workforce. A feasibility study was carried out (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 is well advanced 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 40 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
Table 1: Drill Results from Zone 6, Sections HA1530-D -- HA579-D. Interval indicates down hole interval lengths
| Hole # | Section |
Mineralized Zone |
From (m) |
To (m) |
Interval (m) |
Est. True Width (m) | CuEq (%) | Cu (%) | Ag (g/t) | ||||||||||
| Zone 6 Diamond Drilling | |||||||||||||||||||
| HA-530a-D | N153675 | Zone 6 | 222.66 | 230.00 | 7.34 | 7.34 | 1.83 | 1.70 | 9.0 | ||||||||||
| HA-530b-D | N153675 | Zone 6 | 223.00 | 231.57 | 8.57 | 8.57 | 1.70 | 1.54 | 11.0 | ||||||||||
| HA-531-D | N153800 | Zone 6 | 222.00 | 222.90 | 0.90 | 0.86 | 1.47 | 1.35 | 8.0 | ||||||||||
| 232.00 | 235.00 | 3.00 | 2.85 | 0.76 | 0.73 | 2.0 | |||||||||||||
| HA-532-D | N153800 | Zone 6 | 111.49 | 113.45 | 1.96 | 1.96 | 0.56 | 0.54 | 1.0 | ||||||||||
| 122.63 | 131.00 | 8.37 | 8.37 | 2.03 | 1.86 | 12.0 | |||||||||||||
| HA-533a-D | N153575 | Zone 6 | 221.00 | 229.57 | 8.57 | 8.57 | 2.33 | 2.12 | 14.0 | ||||||||||
| HA-533b-D | N153575 | Zone 6 | 220.94 | 236.70 | 15.76 | 15.29 | 1.14 | 1.02 | 8.0 | ||||||||||
| includes | 220.94 | 228.35 | 7.41 | 7.19 | 2.18 | 1.98 | 14.0 | ||||||||||||
| HA-534-D | N153575 | Zone 6 | 154.57 | 169.66 | 15.09 | 14.64 | 0.34 | 0.31 | 2.0 | ||||||||||
| includes | 159.00 | 161.56 | 2.56 | 2.48 | 0.87 | 0.81 | 4.0 | ||||||||||||
| HA-535-D | N153475 | Zone 6 | 209.81 | 228.00 | 18.19 | 17.64 | 1.12 | 1.02 | 7.0 | ||||||||||
| includes | 212.50 | 221.77 | 9.27 | 8.99 | 2.02 | 1.85 | 12.0 | ||||||||||||
| includes | 214.95 | 215.23 | 0.28 | 0.27 | 15.07 | 13.72 | 92.4 | ||||||||||||
| HA-536-D | N153475 | Zone 6 | 142.00 | 146.61 | 4.61 | 4.47 | 1.45 | 1.34 | 7.0 | ||||||||||
| includes | 142.42 | 144.59 | 2.17 | 2.10 | 2.26 | 2.06 | 14.0 | ||||||||||||
| HA-537-D | N153375 | Zone 6 | 193.57 | 196.57 | 3.00 | 2.85 | 0.38 | 0.35 | 2.00 | ||||||||||
| HA-537-D | 203.45 | 215.19 | 11.74 | 11.39 | 1.25 | 1.13 | 8.0 | ||||||||||||
| includes | 203.45 | 206.54 | 3.09 | 3.00 | 2.46 | 2.27 | 13.0 | ||||||||||||
| HA-538-D | N153375 | Zone 6 | 121.00 | 125.00 | 4.00 | 3.80 | 1.41 | 1.30 | 8.00 | ||||||||||
| 131.62 | 139.57 | 7.95 | 7.55 | 2.02 | 1.85 | 12.00 | |||||||||||||
| HA-539-D | N153275 | Zone 6 | 237.90 | 248.00 | 10.10 | 9.80 | 0.30 | 0.26 | 3.0 | ||||||||||
| HA-540-D | N153275 | Zone 6 | 171.30 | 175.77 | 4.47 | 4.25 | 1.02 | 0.91 | 7.00 | ||||||||||
| 181.94 | 185.00 | 3.06 | 2.91 | 1.03 | 0.93 | 7.00 | |||||||||||||
| HA-571-D | N153900 | Zone 6 | 270.50 | 272.50 | 2.00 | 1.90 | 0.50 | 0.46 | 3.00 | ||||||||||
| 279.00 | 283.79 | 4.79 | 4.55 | 1.32 | 1.24 | 5.00 | |||||||||||||
| HA-572-D | N154000 | Zone 6 | 208.63 | 230.69 | 22.06 | 20.96 | 1.11 | 0.97 | 10.0 | ||||||||||
| includes | 208.63 | 224.06 | 15.43 | 14.66 | 1.52 | 1.32 | 14.0 | ||||||||||||
| HA-573-D | N154000 | Zone 6 | 145.51 | 161.32 | 15.81 | 15.02 | 1.12 | 1.02 | 7.00 | ||||||||||
| includes | 145.51 | 154.52 | 9.01 | 8.56 | 1.77 | 1.62 | 10.00 | ||||||||||||
| HA-574b-D | N154100 | Zone 6 | 216.00 | 234.50 | 18.50 | 17.58 | 0.86 | 0.78 | 5.0 | ||||||||||
| includes | 221.62 | 234.50 | 12.88 | 12.24 | 1.08 | 0.98 | 7.0 | ||||||||||||
| HA-575-D | N154200 | Zone 6 | 206.86 | 229.00 | 22.14 | 21.03 | 1.04 | 0.94 | 7.0 | ||||||||||
| includes | 215.49 | 228.34 | 12.85 | 12.21 | 1.57 | 1.41 | 11.0 | ||||||||||||
| HA-576-D | N154200 | Zone 6 | 132.00 | 142.47 | 10.47 | 9.95 | 0.61 | 0.55 | 4.0 | ||||||||||
| includes | 132.00 | 134.00 | 2.00 | 1.90 | 2.33 | 2.08 | 17.0 | ||||||||||||
| HA-577-D | N154200 | Zone 6 | 276.00 | 277.02 | 1.02 | 0.99 | 2.05 | 1.86 | 13.0 | ||||||||||
| includes | 276.31 | 276.61 | 0.30 | 0.29 | 6.04 | 5.52 | 36.0 | ||||||||||||
| HA-577-D | 300.00 | 304.57 | 4.57 | 4.43 | 0.42 | 0.36 | 4.0 | ||||||||||||
| includes | 300.00 | 301.14 | 1.14 | 1.11 | 0.83 | 0.74 | 6.0 | ||||||||||||
| HA-578b-D | N153100 | Zone 6 | 212.36 | 215.34 | 2.98 | 2.89 | 0.69 | 0.62 | 5.0 | ||||||||||
| includes | 213.22 | 213.53 | 0.31 | 0.30 | 5.25 | 4.71 | 37.0 | ||||||||||||
| HA-579-D | N152350 | Zone 6 | 246.90 | 249.60 | 2.70 | 2.62 | 0.33 | 0.28 | 3.0 | ||||||||||
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.
You can view the Previous News Releases item: Tue Sep 18, 2012, Hana Mining Welcomes Two New Board Members page, or press the Back button on your browser.
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