Great News Release Today
posted on Dec 19, 2011 03:31PM
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VANCOUVER, BRITISH COLUMBIA, Dec 19, 2011 (MARKETWIRE via COMTEX) -- Hana Mining Ltd. ("Hana" or the "Company") /quotes/zigman/3106122 CA:HMG 0.00% (frankfurt:4LH) is pleased to announce its most recent drilling results from the completion of 10 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 South Limb (between sections 56625 to 58500 at South Limb South; 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 Indicated and Inferred mineral resource calculation (see Table 1 at the end of this press release for the results from all 10 drill holes). The mineralization remains open at depth.
Highlights of recent drilling results:
-- The latest results continue to confirm the continuity of copper- silver mineralization at the South Limb South area of the Banana Zone. -- Core lengths intercepts of -- 2.96% CuEq(1), (2.42% Cu and 37.0 g/t Ag) over 2.5 metres within a wider mineralized interval of 0.98% CuEq (0.80% Cu and 12.0 g/t Ag) over 10.2 metres in hole HA-382-D, -- 2.39% CuEq(1), (1.98% Cu and 28.0 g/t Ag) over 3.0 metres within a wider mineralized interval of 0.85% CuEq (0.72% Cu and 9.0 g/t Ag) over 10.0 metres in hole HA-384-D, -- 2.18% CuEq(1), (1.82% Cu and 25.0 g/t Ag) over 1.7 metres within a wider mineralized interval of 0.77% CuEq (0.63% Cu and 10.0 g/t Ag) over 9.0 metres in hole HA-383-D, and -- 1.75% CuEq(1), (1.43% Cu and 22.0 g/t Ag) over 1.6 metres within a wider mineralized interval of 1.11% CuEq (0.93% Cu and 12.0 g/t Ag) over 3.1 metres in hole HA-379-D. 1. 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).
Discussion of Results:
The infill drilling program at the South Limb again confirms that high-grade copper-silver mineralization is continuous along strike along the South Limb (Figure 3). This drilling will allow for the conversion of more mineral resources from the Inferred category into the Indicated category.