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HRL Hansa Resources Limited

0.06
0.00 (0.00%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hansa Resources Limited TSXV:HRL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.06 0.06 0.125 0 01:00:00

Hansa Discovers IP Anomalies Associated With High Grade Zinc-Gold Mineralization at Storkullen, Sweden

26/08/2008 2:00pm

Marketwired Canada


Hansa Resources Ltd. ("Hansa") (TSX VENTURE:HRL)(FRANKFURT:3F2) - 

Mr. John Nugent, President, announces that a dipole-dipole induced polarization
(IP) survey recently completed at the Storkullen zinc project in central Sweden
has been highly successful, defining chargeable anomalies below and along strike
from the outcrop of high-grade zinc-gold mineralization. The completed survey
consisted of 10 parallel lines at 100m line spacing for a total of 7.9 line kms
that tested 900m strike of the prospective horizon.


Two elongate chargeable features have been outlined by the survey that together
cover 570m of strike length as shown in the attached Figure 1. The southern IP
anomaly corresponds with the Storkullen massive sulphide outcrop, and is modeled
from surface to a depth of greater than 100m. Data from adjacent IP lines allows
the strike extent of the chargeable feature to be estimated at approximately
320m. Furthermore, the survey discovered a second area of anomalous
chargeability beneath thin soil cover. This northern IP anomaly lies along
strike from the southern IP anomaly and is centered 500m northwest of the
discovery outcrop. This northern anomaly is of higher magnitude and greater
modeled thickness than the southern anomaly, shows geophysical character similar
to the southern anomaly, and has an interpreted strike extent of 250m. Modeling
shows the anomaly extends from surface to greater than 100m depth.


Storkullen is located in the Jamtland province of central Sweden, approximately
360 kms northwest of Stockholm. The exposed bedrock includes a 2.5m wide
interval of high grade zinc-rich massive sulphide adjacent to a pyritic and
siliceous felsic gneiss. In addition to the high grade zinc, gold to 23 g/t was
discovered in the adjacent siliceous gneiss, emphasizing the precious metal
potential of the mineralized outcrop and surrounding claims. The Storkullen
project has never been drill tested.


Mr. Nugent states, "We are certainly excited about the results of this
geophysical survey, for the first time giving us a view of what lies beneath the
thin soil cover away from the massive sulphide outcrop. The strike and depth
extent of the anomalies associated with the discovery outcrop is encouraging,
while the anomaly to the north opens the door for discovering multiple zones of
mineralization in the district. We look forward to drill testing these targets
soon and to apply this successful geophysical technique to other targets within
our large landholding in this highly prospective and untested region."


The qualified person as defined by National Instrument 43-101 is Mark Saxon, a
member of the Australasian Institute of Mining and Metallurgy. Mr. Saxon has
reviewed and verified the contents of this release.


Hansa Resources Ltd. is engaged in the acquisition, exploration and development
of base and precious metal properties in Sweden and Angola.


To view Figure 1 please click on the following link:
http://media3.marketwire.com/docs/hrl825.pdf


On behalf of the Board,

John Nugent, President

Forward Looking Statement. This news release contains certain "forward-looking"
statements and information relating to the Company that are based on the beliefs
of the Company's management as well as assumptions made by and information
currently available to the Company's management. Such statements reflect the
current risks, uncertainties and assumptions related to certain factors
including, without limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors and strategic
partners, the interest rate environment, governmental regulation and
supervision, seasonality, technological change, changes in industry practices,
and one-time events. Should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein. Neither the TSX Venture
Exchange nor the Frankfurt Stock Exchange have reviewed the information
contained herein and, therefore, do not accept responsibility for the adequacy
or accuracy of this news release.


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