As Hana Mining (HMG-V) continues to drive towards getting the world’s next significant copper mine built at its Ghanzi property in Botswana, the company is still hitting significant grades of copper and silver in the Banana Zone.
The latest results from the property come out of eight infill diamond drill holes and were highlighted by: 1.46% copper and 33 grams silver over 9 metres within a wider mineralized interval of 0.87% copper and 18 grams silver over 18.2 metres in hole; 0.57% copper and 4 grams silver over 20.4 metres; and 0.51% copper and 9 grams silver over 23.3 metres.
Those three holes were drilled on the northern limb of the zone, which has demonstrated robust mineralization all along its fruit shaped perimeter.
Indeed the latest results merely confirm what past drilling at the zone has: mainly that the entire Banana zone exhibits continuous copper and silver mineralization over consistent widths.
The company says the latest drilling success will help ensure it achieves its aim of converting a substantial amount of inferred resources in to the indicated category.
Hana also updated its progress on other aspects of the project as it said it was establishing the terms of an Environmental Impact Assessment with the government.
The company is also continuing to do work on the metallurgy of the oxide material at the
Banana while at the same time it does regional soil geochemistry at the Baby Banana and Peeled Banana Zones.
Ghanzi sits in the center of the Kalahari Copper Belt in northwestern Botswana and covers 2,149 sq km.
The property hosts sediment-hosted copper-silver deposits over a strike length, which has thus far, been delineated over 70 km.
The project currently has indicated resources of 37.4 million tonnes grading of 0.93% copper and 13.4 grams silver for 762 million lbs of copper and 16 million oz. of silver.
While all of the Indicated resources are from the Banana Zone, inferred resources of 5.6 billion lbs of copper and 85.4 million ounces of silver from 423.9 million tonnes comes from both the Banana Zone and the Chalcocite Zone.
In Toronto on July 26, Hana shares were off 19¢ or 8% to $2.21 on 156,350 shares traded.
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