Hana Mining Limited announced that it’s most recent drilling results from the completion of 12 infill diamond drill holes in the Banana Zone at its Ghanzi sediment hosted Copper and Silver Project in Botswana.
Infill and down dip drilling was carried out on the South Limb area to convert a substantial amount of the NI 43-101 compliant resources within this area into the Indicated category from the Inferred category and to extend current Indicated resources down dip.
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. The mineralization remains open at depth.
Highlights of recent drilling results:
1. The latest results continue to confirm the continuity of copper and silver mineralization at the South Limb Definition area of the Banana Zone.
2. Core lengths intercepts of:
(I). 5.18% CuEq over 4.6 meters within a wider mineralized interval of 2.70% CuEq over 9.3 meters in hole HA-444-D,
(II). 4.84% CuEq over 1.9 meters within a wider mineralized interval of 2.26% CuEq over 4.3 meters in hole HA-426-D,
(III). 3.76% CuEq over 2.9 meters within a wider mineralized interval of 1.36% CuEq over 8.9 meters in hole HA-428-D,
(IV). 3.23% CuEq over 2.3 meters within a wider mineralized interval of 1.60% CuEq over 5.0 meters in hole HA-437-D.
The infill drilling program at the South Limb continues to confirm that copper and silver mineralization is relatively high grade and continuous along strike at the South Limb. This drilling will add to the current down dip indicated resource and allow for the conversion of more mineral resources from the Inferred category into the Indicated category.
The following engineering and consultation activities are ongoing:
1. Work on the revised resource estimate for the Banana Zone is continuing as expected and the Company expects to release the results of this resource estimate in the second quarter of 2012.
2. Work continues on the Preliminary Economic Assessment which is also expected to be completed in the second quarter of 2012.
Mr Marek Kreczmer CEO & Chairman of Hana Mining said that "The latest infill drilling results once again demonstrate that high grade copper and silver mineralization is consistent along strike and dip at the South Limb Definition area. Also, as noted in the previous press release we are finding that copper and silver mineralization in this area is steeply dipping and parallel to the stratigraphy. Complex structures, such as local folding and micro faulting have shown some thickening of the mineralization much like that seen in the Northeast Fold area."
Source - Hana Mining Limited
(www.steelguru.com)
