New Hana Provides Exploration Update for the Kuke Project
November 28 2011 - 6:00AM
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 22,593 soil samples from the Kuke Project, representing
approximately 575 line kilometres have been submitted to the laboratory
for geochemical analysis.
-- Of the 22,593 soil samples submitted, results for 18,593 samples have
been received and are currently being reviewed. Results are still
outstanding for 3,638 samples.
-- A number of large broad copper-silver anomalies have been identified on
the property and the Company and the company is preparing to mobilize a
reverse circulation drill to the property. The company expects to
commence drilling at these anomalies early in 2012.
-- The Company also recently completed ground horizontal loop
electromagnetic surveys at the northern block of the Kuke property.
These geophysical surveys have identified a number of weak conductors
which have been interpreted to be possible mineralized hanging wall-
footwall contacts. The Company will be following up on these conductors
with extensive soil geochemistry sampling in early 2012.
The Company remains well financed with Cdn$4.0 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:
"We will continue with our strategy of using relatively
inexpensive remote sensing methods (soil geochemistry and
geophysics) which have been extremely successful in the past at
Hana Mining Ltd's Ghanzi Project, which is adjacent to the Kuke
Project, to identity any potential copper-silver anomalies at Kuke.
I believe by taking the prudent patient approach to exploring the
Kuke property, which is in excess of 10,000 square kilometers, will
yield significant returns for our shareholders."
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 585 million pounds of
copper and 12 million ounces of silver from 19.7 million tonnes at
a grade of 1.35% copper and 19.7 g/t silver. All of the Indicated
resources are from the Banana Zone. There are also Inferred
resources of 2.4 billion pounds of copper and 40.6 million ounces
of silver from 91.2 million tonnes. This Inferred mineral resource
estimate consists of 69.9 million tonnes grading 1.10% Cu and 14.98
g/t Ag in the Banana Zone, 13.4 million tonnes grading 1.66% Cu and
12.11 g/t Ag in Zone 5, 6.3 million tonnes grading 1.5% Cu and 6.7
g/t Ag in Zone 6, and 1.6 million tonnes grading 0.85% Cu and 6.4
g/t Ag in the Chalcocite Zone; all at a cut-off grade of 0.75%
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.comwww.newhanamining.com
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