Hana Mining Ltd. ("Hana" or the "Company") (TSX VENTURE:HMG)(FRANKFURT:4LH) is pleased to announce its most recent drilling results from the completion of 13 infill diamond drill holes at the Banana Zone at its Ghanzi sediment hosted 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. Hana Mining released results of its most recent NI 43-101 compliant resource estimate for the Ghanzi Project on December 20, 2010, 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 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.Contact: Joseph Gentile, Esq. SARRAF GENTILE LLP One Pennsylvania Plaza New York, NY 10119 T 212.868.3610 F 212.918.7967
www.sarrafgentile.comAbout Hana Mining's Ghanzi Copper-Silver Project in Botswana:The project will benefit from proposed rail and power infrastructure expansions, along with proximity to local population centers and workforce. 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 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 2009. The Ghanzi Copper-Silver Project is currently accessed by the paved Trans-Kalahari highway, which passes within 15 km of the property.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 labelled bags, closed and packed into sealed bags that are shipped to ALS Chemex Laboratory in Johannesburg, 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.Hana Mining's CEO and Chairman, Marek Kreczmer, commented as follows:
"The South Limb is a very intriguing area given that it is exceptionally continuous and contains some of the highest grade copper-silver mineralization in the Banana Zone. As we keep drilling the South Limb we expect that we will continue to encounter consistent high-grade copper-silver mineralization."To view accompanying Figures 1, 2 and 3, visit the following link: http://media3.marketwire.com/docs/HanaFigure1to3.pdfThese results are from new holes and are in addition to those used in the most recent NI 43-101 compliant Inferred mineral resource calculation (see Table 1 at the end of this press release for the results from all 13 drill holes). The mineralization remains open at depth.Highlights of recent drilling results:The Banana Zone exhibits certain areas of higher grade Cu and Ag mineralization, particularly between sections 49700 to 52000 on the North limb and sections 63000 to 71000 on both the North and South limbs, which represent an opportunity to locate starter pits and mine initial tonnages at higher than average grades. These higher grade pockets tend to be well within open pit depth parameters and represent opportunities to improve early cash flow and overall returns in development.Qualified Person and Quality Assurance/Quality ControlDevelopment UpdateThe action was brought on behalf of purchasers of Magnum stock between July 2, 2008 and April 13, 2010, inclusive. The complaint asserted violations of Sections 10(b) and 20(a) of the Securities Exchange Act, 15 U.S.C. §§ 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder, 17 C.F.R. § 240.10b-5.Infill drilling was carried out on the South Limb South area (between sections 59475 to 60350 at the South Limb; 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.
The Ghanzi property is one of Africa's premier future copper-silver resources.
