New Hana Announces Appointment of Highly Experienced and Successful Consultant to Assist Exploration Program at the Kuke Proj...
September 21 2011 - 7:00AM
Marketwired
New Hana Copper Mining Ltd., ("HML" or the "Company") (TSX VENTURE:
HML) is pleased to announce that it has appointed Mr. Fouche
("Sas") du Plessis Burgers as a consultant to the Kuke
Copper-Silver Project. Mr. Burgers is also the Chief Geologist at
Hana Mining Ltd. (TSX VENTURE: HMG).
Mr. Burgers, Hons. B.Sc., is a professional mining and
exploration geologist and a certified rock mechanics engineer. He
has more than 30 years' experience in exploration, underground and
open pit mining operations in South Africa, Mozambique, Ghana and
the Democratic Republic of the Congo ("DRC"). He held multiple high
level management positions including Chief Mining and Exploration
Geologist, Consulting Geologist, Technical Services Manager, Ore
Resource Manager and Business Unit Leader (Mine Manager). Mr.
Burgers is member of the Geological Society of South Africa. He is
also registered as a Natural Scientist (Pri, Sci, Nat) with the
South African Council for Natural Scientific Professions.
From March 2009 until recently, Mr. Burgers worked for Metorex
Ltd. as the Ore Resource Manager at Ruashi, a stratiform copper
mine in the DRC where he was instrumental in their dramatic
resource increase. He was also the Competent Person at the mine and
responsible for signing off the mine's Resource Model and Competent
Persons Report (CPR) to Metorex. His managerial involvement
includes defining, modeling and expanding the ore body according to
the SAMREC code of compliancy. He also managed the Exploration
geology, Mining geology, Survey, Geo-hydrology, Mine planning and
Geo-technical departments assisted by various consultants. His
department was also responsible for the life of mine modeling, the
increase in the ore reserve and the 2-year operational plan. Mr.
Burgers' most recent position with Metorex was as the Regional
Geologist DRC to expand the base metal interest of Metorex within
the DRC.
Mr. Burgers has been granted 150,000 incentive stock options
exercisable at a price of $0.50 per share expiring on August 12,
2016. All securities issued upon exercise of the Options are
subject to a hold period expiring four (4) months after the date of
grant. The subject Options will vest upon the successful completion
of certain project and corporate objectives. The Options are
subject to the terms and conditions of the Company's Stock Option
Plan.
The company also announces that it has agreed to settle an
aggregate debt of $50,000 owned to certain creditors by the
issuance of 142,855 of its common shares at a deemed price of $0.35
per share. All shares to be issued in connection with the proposed
debt settlement will be subject to a four-month resale
restriction.
New Hana Mining's new geological consultant, Sas Burgers,
commented as follows:
"I am truly excited to have the opportunity to work the Kuke
Project, which I believe has the potential to host billions of
pounds of copper mineralization. I look forward to collaborating
with the rest of the New Hana management team on this exciting
opportunity to unlock the value of our outstanding asset."
New Hana Mining's CEO and Chairman, Marek Kreczmer, commented as
follows:
"I look forward to seeing both Sas and our current Project
Manager, Jacques Janse van Rensburg, who was instrumental in
considerably expanding the resources at Hana Mining Ltd.'s Ghanzi
Project, collaborate together on the Company's 10,500 square
kilometre Kuke Project. I believe that the addition of Sas to our
already successful technical team considerably enhances the chances
of exploration success at Kuke."
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