The latest results from Hana Mining‘s (HMG-V) Ghanzi copper and silver project in Botswana returned high grades, but failed to catch the market’s attention in a down copper and silver market.
Highlights from drilling in the sediment-hosted mineralized zones included: Hole 54-P returning 18 metres grading 2.32% copper and 35.1 grams per tonne silver, and hole 50-P returning 9 metres grading 1.05% copper and 17.7 grams silver per tonne.
The company estimates that intersection widths and length are 60% or more of true width.
The results came from a series of four cyclone-percussion holes that were drilled along two fences of holes, spaced 2 km apart on the south limb of what the company calls the Banana zone.
The fences test a strike length of 6 km in an area where there was no previous work.
Eight other percussion holes tested low order copper-in-soil geochemical anomalies south of the Banana Zone but only geochemically anomalous values were obtained.
The company says results are pending for other other holes.
Hana Mining has the right to acquire a 70% controlling interest in the project which is made up of five license blocks covering 2,200 sq. km
In Toronto on March 9 the company’s shares were trading for 8¢ and they have moved between 64¢ and 5.5¢ over the last 52 week period. The company has 73 million shares outstanding.
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