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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 | 00:00:00 |
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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