VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 25, 2009) - Hana Mining Ltd.,("HMG" or the "Company") - (TSX VENTURE:HMG) (FRANKFURT:4LH) is pleasedto report drill results for 4 new RC drill holes at it'ssediment-hosted Ghanzi Copper-Silver Project in Botswana.These most recent drill results confirm mineralization along thewestern section (section 25,000 on map, figure 1 below) of the NorthLimb of the Banana Zone-an area we also refer to as 'New Discovery'.
Highlights of recent drilling results:
- This RC drill hole data assayed at significantly improved grade over the
percussion hole assays (RC locations twinned existing percussion holes)
that were included in the current 43-101 resource estimate (see press
release dated June 1, 2009),
- Two of the four holes produced significant high grade sections, with
5-17 metre core sections showing Cu grades of 1.36% to 2.53% and Ag
grades of 5.1 g/t to 32 g/t. One section also showed a 4 metre intercept
grading 4.49% Cu and 42.5 g/t Ag,
- The assay results on these latest holes are consistent with regard to
average resource mineralization thickness, and show mineralization at
open pit depth, and
- Assays indicate bornite is the dominant copper mineral, with minor
chalcocite.
The results of the new holes are as follows:
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Core
Project Hole From To Length Cu Grade Ag Grade
Zone Number (meter depth)(meter depth) (metres) (%) (g/t)----------------------------------------------------------------------------Banana HA-54-R
56 73 17 2.53 32.0
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including 57 73 16 2.64 33.8
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including 59 61 2 3.52 64.6
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including 66 70 4 4.49 42.5
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86 91 5 0.87 10.3
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including 88 89 1 2.71 36.2
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93 98 5 0.75 8.3
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including 96 98 2 1.11 11.6
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Banana HA-53-R 29 44 15 1.36 5.1
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including 29 38 9 1.71 7.8
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including 33 38 5 2.39 13.3
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46 49 3 0.81 7.5
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Banana HA-52-R 97 134 37 0.32 6.1
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including 97 99 2 0.56 12.3
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including 97 98 1 0.82 17.1
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including 107 110 3 0.57 12.0
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including 107 108 1 0.63 15.3
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including 109 110 1 0.93 18.7
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including 114 115 1 1.01 20.2
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including 117 119 2 1.00 20.3
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including 117 118 1 1.10 23.4
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including 124 125 1 0.46 7.1
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including 129 132 3 0.46 7.8
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including 131 132 1 0.77 14.2----------------------------------------------------------------------------Banana HA-51-R 109 130 21 0.29 4.8----------------------------------------------------------------------------
including 111 112 1 0.57 8.4
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including 123 126 3 0.59 9.0
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including 128 129 1 0.51 6.4----------------------------------------------------------------------------
All intercepts reported are intersection length and are estimated to represent better than 80% of true thickness.
To view Figure 1, please visit the following link: https://media3.marketwire.com/docs/HM1.pdf
To view Figure 2, please visit the following link: https://media3.marketwire.com/docs/HM2.pdf
Qualified Person and Quality Assurance/Quality Control
Joseph Arengi, M. Sc., P. Geo., Vice President of Exploration for Hana Mining is the qualified person as defined in NI 43-101 and has reviewed the technical information in this press release.
TheCompany has implemented an industry-standard QA/QC program. Drill coreis 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. Theanalytical method for the Cu, Ag, Pb, and Zn assays is acid digestionand Atomic Absorption Spectroscopy ("AAS"). The analytical method forMo assays is XRF (full matrix correction).
Hana Mining's CEO,Marek Kreczmer, commented as follows:
"Whilethese RC holes don't represent new resource for the project, they doimprove significantly on the grades we assumed for this area and theycontain some very strong copper and silver assays that encourage us toseek another high grade starter pit opportunity, as we have seen occurelsewhere in Banana Zone. These grades continue to demonstrate theattractiveness of the Ghanzi resource, and they are similar to Cugrades on other sediment-hosted deposits in Zambia."
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 country of Botswanais considered by the Fraser Institute Annual Survey of Mining Companies2009 country ranking study to offer the most attractive mineralexploration and investment climate in Africa.The Ghanzi property covers 2,200 sq. km., and contains sediment-hostedcopper-silver deposits with a demonstrated cumulative mineralizedstrike length of over 13 kilometres. This favourable geology extendsover the entire strike length of 600 kilometres Hana Mining recently released results of it's first NI 43-101 resource estimate for the Ghanzi Project (see press release dated June 1, 2009),announcing an inferred resource of 2.0 Billion lb. of copper and 34.9Million oz. of silver from 60.4 million tonnes. This resource estimateis based on a 0.75% Cu cutoff grade, and averages 1.51% Cu and 17.98g/t Ag. The Banana Zone represents 40.7 million tonnes of this totalresource (67%), and is the current focus of the Company's drillingefforts and development focus for 2009 and 2010.
The BananaZone exhibits certain areas of high grade Cu and Ag mineralization,particularly in the fold nose at the northern end of the zone, whichrepresent an opportunity to locate starter pits and mine initialtonnages at higher than average grades. These +2% Cu pockets tend to bewell within open pit depth parameters and represent opportunities toimprove early cash flow and overall returns in development.
Theproject will benefit from contemplated rail/power infrastructureexpansions, along with proximity to local population centers andworkforce. 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 planned 600MW expansion of the government-owned Moropule Power Plant continues to advance, with US$825 million project funding secured in May 2009,and key supply contracts awarded. Currently, our project is served bythe paved trans-Kalahari highway, which passes within 15 km of theproperty.
Hana Mining is focused on demonstrating that the Ghanzi property represents one of Africa's premier future copper-silver resources.
Statementsin this press release, other than purely historical information,including statements relating to the Company's future plans andobjectives or expected results, may include forward-looking statements.Forward-looking statements are based on numerous assumptions and aresubject to all of the risks and uncertainties inherent in resourceexploration and development. As a result, actual results may varymaterially from those described in the forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Hana Mining Ltd.
Peter G. Wilson
President & Director
(604) 676-0824
info@hanamining.com
www.hanamining.com
Source: Hana Mining Ltd.