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HRL Hansa Resources Limited

0.06
0.00 (0.00%)
24 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 Resources Limited/Storkullen Project Sweden: Final Agreement Signed and Work Plan Update

27/05/2008 2:01pm

Marketwired Canada


Hansa Resources Ltd. ("Hansa") (TSX VENTURE:HRL)(FRANKFURT:3F2). Mr. Jeff Gale,
President, is pleased to announce that a final agreement was signed today with
the vendors of the Storkullen high grade base metal-gold project. Hansa acquired
the Storkullen project over winter via a competitive tender.


Storkullen is located in the Jamtland province of central Sweden, approximately
360 kilometres northwest of Stockholm. The exposed bedrock includes a 2.5 metre
wide interval of high grade zinc-rich massive sulphide adjacent to a pyritic and
siliceous felsic gneiss. The northeastern contact of the zinc-rich massive
sulphide is exposed in the outcrop, where it lies adjacent to the siliceous
gneiss. In addition to the very high zinc grades, high grade gold was analysed
from the siliceous gneiss, emphasizing the precious metal potential of the
mineralized outcrop and surrounding claims. The massive sulphide mineralization
is open on the southwestern, northwestern and southeastern contacts, where
mineralization passes under thin soil cover.


Hansa has recently submitted applications to Sweden's County Administration
Board (Lansstyrelsen) for work programs at Storkullen. These applications
include trenching within 200 metres of the discovery outcrop and diamond
drilling to test mineralization along strike and at depth. Hansa expects to have
field crews at site soon, to commence surface geochemical sampling. The Company
is also in the process of arranging contracts for geophysical surveys and
drilling at Storkullen which are slated to commence in June 2008 and September
2008 respectively.


Mr. Gale states, "We look forward to advancing our knowledge of the Storkullen
project with this planned phase of exploration work, the first that has ever
been completed at the site. Our geochemical programs, geophysics and drilling
within the next 4 months will shine a new light on the potential of this highly
prospective and untested region."


The qualified person as defined by National Instrument 43-101 is Damian Brett,
Vice-President of Exploration for Hansa Resources and a member of the
Australasian Institute of Geoscientists. Mr. Brett has reviewed and verified the
contents of this release.


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


On behalf of the Board,

Jeffrey Gale, President

Forward Looking Statements. This Company press 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.


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