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Resource Clips


Posts tagged ‘Hana Mining Ltd (HMG)’

Week in review

October 26th, 2012

A mining and exploration retrospect for October 20 to 26, 2012

by Greg Klein
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B.C. avalanche kills mining contractor

A surveyor working for Seabridge Gold TSX:SEA lost his life in northwestern British Columbia on Tuesday. According to a company statement, “Two experienced surveyors were working on a slope near the camp located at Sulphurets Creek when the avalanche occurred. One was able to get to safety; the other was swept into a gully and did not survive. A trained emergency rescue team was at the site of the accident within minutes.”

A mountainous, isolated but busy mining and exploration region east of the Alaska Panhandle, B.C.’s Golden Triangle is subject to heavy snow. Media reports, however, said the avalanche came unusually early in the season.

The B.C. Coroners Service identified the victim as 50-year-old Pat Lawrence Desmarais of Telkwa, B.C.

Cautious optimism about South Africa

A somewhat reassuring tone accompanied news from South Africa this week. On Thursday Bloomberg reported that “gold producers represented by the Chamber of Mines signed an agreement with labour unions over changes to pay and job categories today. Members have ‘overwhelmingly’ accepted the offer which, when added to a [previous] two-year deal, will see wages increase by as much as 20.8%.” Media accounts imply that as gold miners return to work, other miners will follow.

A mining and exploration retrospect

Also on Thursday, Reuters said the strikes caused Finance Minister Pravin Gordhan to cut his 2012 GDP forecast from 2.7% to 2.5%. He emphasized more time is needed to determine the strikes’ full impact but “we will take that knock, recover from it and move on because life doesn’t end now or next week. Life moves on.”

On Friday Kitco.com provided another weekly summary of how major companies are faring in South Africa.

Dehua debacle drags on

Mandarin is no longer a requirement for Canadian miners who want to work for Canadian Dehua International’s Canadian projects. But it’s “definitely an asset.”

The company ignited controversy earlier this month over its plan to import thousands of Chinese to work in four proposed coal mines in northeastern B.C. The federal and provincial governments support the plan, partly because the company said recruitment efforts within Canada failed. The United Steelworkers union then revealed that the company, along with HD Mining International (40% held by Canadian Dehua and 55% by Huiyong Holdings), had made Mandarin-language skills essential for at least 70 positions advertised in Canada.

Now the company has downgraded that requirement to “definitely an asset.” On Wednesday the Vancouver Province reported eight such ads on the Mining Association of British Columbia’s Web site. By Friday four were still in place, for a civil engineer, electrical engineer, mechanical engineer and mining engineer.

A Wednesday Vancouver Sun story reported that Canada’s New Democratic Party (NDP) urged the federal government to suspend the Chinese miners’ work permits “until an investigation determines whether Canadians were given an adequate chance to show they can fill the jobs.”

The outrage is hardly limited to Canada. On Friday Taiwanese animators Next Media Animation presented their take in a video. With admirable consideration for Canadians, they even provided an English-language version.

Read more about Canadian Dehua’s personnel policy here and here.

Central banks move in mysterious ways

Gold resumed its unsteady rise above $1,700 after dropping to Wednesday’s $1,698.70, the lowest price since September 7, Bloomberg reported. “More and more central banks are getting involved in the gold market,” the news agency quoted David Meger of Vision Financial Markets in Chicago. In an article re-posted by MarketWatch on Saturday, 24/7 Wall St. compared central bank gold reserves with their corresponding countries’ GDP and other economic highlights. There were some surprises.

The Netherlands ranks 63rd in the world for population and 17th for GDP, but ninth for gold reserves (612.5 tonnes). Like some other European countries, the Netherlands hasn’t yet sold all the gold required under the Central Bank Gold Agreement, 24/7 Wall St. stated. “It may need that gold to protect itself if the euro comes unravelled.”

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Hana reports Botswana Assays up to 1.45% Copper, 15 g/t Silver over 26.2m

August 20th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningHana Mining Ltd TSXV:HMG announced assays from Zone 5 of its Ghanzi Copper-Silver Project in Botswana. Highlights include

2 grams per tonne silver, 0.48% copper over 38.52 metres
15 g/t silver, 1.45% copper over 26.24 metres
2 g/t silver, 0.63% copper over 32.12 metres
(including 2 g/t silver and 1.03% copper over 16 metres)
10 g/t silver, 1.24% copper over 16.29 metres
8 g/t silver, 0.95% copper over 26.37 metres
11 g/t silver, 1.25% copper over 30.07 metres
(including 20 g/t silver, 2.52% copper over 12.25 metres)
8 g/t silver, 1.02 % copper over 49.63 metres

CEO/Chairman Marek Kreczmer stated, “The drill success continues to support confidence in the continuity and mineability of high-grade copper mineralization at Zone 5. As well, we are pleased that the exploration drilling below the current modeled view of the deposit has intercepted what could be a continuation of this same strong mineralization. The results support our view that the deposit could be suitable for underground mining. With further successful results like these, the overall resource size and head grade could increase, which would improve the economics of the PEA study.”

View Company Profile

Marek Kreczmer
Chairman/CEO
604.676.0824

by Kevin Michael Grace

Hana reports Botswana Results of 15 g/t Silver, 0.85% Copper over 53m

February 21st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningHana Mining Ltd TSXV:HMG announced assays from the Banana Zone of its Ghanzi Copper-Silver Project in Botswana. Highlights include

15 g/t silver and 0.85% copper over 53 metres
(including 206 g/t silver and 11.22% copper over 2.9 metres)
11 g/t silver and 0.95% copper over 62.7 metres
(including 80 g/t silver and 5.45% copper over 3.6 metres)
17 g/t silver and 1.21% copper over 24.2 metres
(including 48 g/t silver and 3.32% copper over 8.1 metres)
8 g/t silver and 1.03% copper over 33 metres
(including 38 g/t silver and 2.46% copper over 2.9 metres)
5 g/t silver and 0.49% copper over 27 metres
(including 23 g/t silver and 1.36% copper over 3.3 metres)

CEO/Chairman Marek Kreczmer stated, “Several months ago our geologists were tasked to formulate a new geological model which would allow us to identify areas within the Banana Zone and other parts of the Ghanzi Project that may host high-grade copper-silver mineralization. After a concerted core re-logging campaign involving over 300 drill holes and interpretation, our geological team was able to identify additional stratigraphic and structural parameters which may contribute to the deposition of high-grade copper-silver mineralization. This hypothesis is currently being currently tested with tremendous success in the Northeast Fold area. Later we will test this geological model elsewhere at the Banana Zone and other areas of the Ghanzi Project. Because of time constraints not all of these drill holes will be included in the upcoming preliminary economic assessment, but they will be included in the forthcoming feasibility study.”

View Company Profile

Contact:
Marek Kreczmer
CEO
Patrick Donnelly
VP of Corporate Development
604.676.0824

by Greg Klein

Hana reports Botswana Assays of 5.11% Copper, 172 g/t Silver over 5.3m

January 24th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningHana Mining Ltd TSXV:HMG announced assays from the Banana zone of its Ghanzi copper-silver project in Botswana. Results include

2.71% copper and 73 g/t silver over 14.6 metres
(including 5.11% copper and 172 g/t silver over 5.3 metres)
1.14% copper and 18 g/t silver over 16 metres
(including 4.02% copper and 85 g/t silver over 2.3 metres)
4.86% copper over 2.5 metres
1.52% copper over 6.6 metres
3.53% copper and 32 g/t silver over 2.8 metres
1.62% copper and 18 g/t silver over 12.9 metres

Chairman/CEO Marek Kreczmer stated, “The discovery of high-grade shoots of mineralization in the footwall sandstones is the result of our geologists having a good understanding of the structural controls on mineralization at the Banana Zone which will result in further discoveries within the Banana Zone. The above results represent probably some the best intersections of copper-silver mineralization yet at the Banana Zone. Not only are we hitting exceptionally high grades, but we are also getting significant widths of mineralization. I was also pleasantly surprised with the discovery of high-grade copper-silver mineralization at depth as this represents a new mineralized setting which we will continue to investigate.”

View Company Profile

Contact:
Marek Kreczmer
CEO
604.676.0824

or Patrick Donnelly
VP Corporate Communications
604.676.0824

by Ted Niles

Hana reports Botswana Results of 0.8% Copper, 12 g/t Silver over 12m

December 19th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningHana Mining Ltd TSXV:HMG announced assays from the Banana Zone of its Ghanzi Copper-Silver Project in Botswana. Results include

0.8% copper and 12 g/t silver over 12 metres
(including 2.42% copper and 37 g/t silver over 3 metres)
0.93% copper and 12 g/t silver over 3.7 metres
(including 1.43% copper and 22 g/t silver over 1.9 metres)
0.72% copper and 11 g/t silver over 10 metres
(including 1.03% copper and 17 g/t silver over 6.2 metres)
0.72% copper and 9 g/t silver over 11.8 metres
(including 1.98% copper and 28 g/t silver over 3.5 metres)

CEO/Chairman Marek Kreczmer stated, “I am very pleased with the success of the 2011 infill drilling campaign, which has met its target of 40,000 metres at the Banana Zone. I expect the results from this drilling program to translate into a more robust resource estimate, which will be completed in the second quarter of 2012. Given the success of the 2011 drilling program, the company will resume infill drilling at the Banana Zone in January 2012. We will also commence regional exploration drilling in 2012. Our Chief Geologist, Sas Burgers, has already identified a number of compelling targets outside of the Banana Zone that may host high-grade copper-silver mineralization.”

View Company Profile

Contact:
Marek Kreczmer
CEO/Chairman
604.676.0824

Patrick Donnelly
VP of Corporate Development
604.676.0824

by Greg Klein