New Hana Provides Exploration Update for the Kuke Project
2011年9月12日 - 8:30PM
Marketwired
New Hana Copper Mining Ltd. ("HML" or the "Company") (TSX VENTURE:
HML) is pleased to provide an update on the exploration activities
at its 100%-owned Kuke copper-silver project, located in
northwestern Botswana.
The following exploration activities are ongoing to fulfill the
goal of the discovery of copper-silver mineralization at the Kuke
Project:
-- A total of 15,583 soil samples from the Kuke Project, representing
approximately 363 line kilometres have been submitted to the laboratory
for geochemical analysis.
-- Of the 15,583 soil samples submitted, results for 13,224 samples,
representing 305 line kilometres have been received and are currently
being reviewed. Results are still outstanding for 2,359 samples,
representing 58 line kilometres.
-- A number of large broad copper-silver anomalies have been identified on
the property and the Company has carried out 11.5 line kilometres of
auger sampling to ascertain the sources of these anomalies. Once the
Company has received all of the geochemical results from the auger
sampling, it intends to commence drilling at Kuke.
-- The Company is also carrying out ground horizontal loop electromagnetic
surveys to follow up and further constrain the source of these broad
geochemical anomalies. The results of these surveys will assist the
Company's geologists in identifying drilling targets.
-- The Company remains well financed with Cdn$4.4 million in cash on hand.
-- Please visit the Company's website at www.newhanamining.com for
additional details on the Company and the Kuke Project.
New Hana Copper Mining's President and CEO, Mr. Marek Kreczmer,
commented as follows:
"The plan for the Kuke Project is to take a thorough and
methodical approach to understanding the geology and mineralization
at the Kuke property and having every piece of possible information
in front us before we commence drilling, which is the most
expensive part of any exploration program. While we have found
numerous indications of copper-silver mineralization at the
property, we want to fully assess the entire 10,654 square
kilometre property in order to property prioritize our drilling
targets. That being said, we are very optimistic that the Kuke
Property will host significant copper-silver resources."
About New Hana Copper's Kuke Copper-Silver Project in
Botswana:
The exploration-stage Kuke Project is located in the center of
the Kalahari Copper Belt in northwestern Botswana. The Kuke
property covers 10,654 square kilometres and is adjacent and along
strike to Hana Mining Ltd.'s ("Hana") Ghanzi Copper Silver Project.
On December 20, 2011 Hana released results of its most recent NI
43-101 compliant resource estimate for the Ghanzi Project
announcing an Indicated mineral resource of 762 million pounds of
copper and 16 million ounces of silver from 37.4 million tonnes at
a grade of 0.93% copper and 13.4 g/t silver. All of the Indicated
resources are from the Banana Zone. There are also Inferred
resources of 5.6 billion pounds of copper and 85.4 million ounces
of silver from 423.9 million tonnes. This Inferred mineral resource
estimate consists of 225.4 million tonnes grading 0.64% Cu and 8.1
g/t Ag in the Banana Zone, 20.7 million tonnes grading 1.23% Cu and
8.7 g/t Ag in Zone 5, 16.7 million tonnes grading 0.86% Cu and 4.0
g/t Ag in Zone 6, and 161.1 million tonnes grading 0.45% Cu and 3.6
g/t Ag in the Chalcocite Zone; all at a cut-off grade of 0.30%
Cu.
The Kuke project will benefit from proposed rail and power
infrastructure expansions, along with proximity to local population
centers and workforce. A feasibility study was recently completed
(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 has begun on the 600MW expansion of the
government-owned Moropule Power Plant, having secured US$825
million project funding in May 2010. The Kuke Copper- Silver
Project is currently accessed by the paved Trans-Kalahari highway,
which passes within 5 km of the property.
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: New Hana Copper Mining Ltd. Investor Relations (604)
682-4262 (778) 370-0146 (FAX) info@newhanamining.com
www.newhanamining.com
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