Habanero Resources Inc.: Phase One of Haldane Silver Prospect Completed Resulting in Selected Samples as High as 2520 g/t Sil...
23 August 2011 - 5:01PM
Marketwired
Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE:
HAO)(PINK SHEETS: HBNRF)(FRANKFURT: HRJ) wishes to announce that it
has completed the first phase of work on the Haldane Prospect.
According to the Qualified Person for the prospect, "Phase 1 of the
program on the Haldane property consisted of completing the road
access to the property, collecting 42 rock samples and 274 grid
soil samples, as well as completing geological mapping to detail
structural controls on the mineralization of the extensive
vein-fault system.
Rock sampling was done to confirm historic values in the area of
trenching, underground workings, and to investigate new areas on
the property. At the Johnson Adit, a select sample of strongly
oxidized, breccia mineralization from the underground rock dump
returned 2,520 g/t Ag 1.6 g/t Au and greater than 20% Pb. A
similarly oxidized sample from the Middlecoff Zone rock dump
returned 1,220 g/t Ag, 0.97 g/t Au, 6.5% Pb and 0.44%Zn. This
sample contained 5-8% remnant galena.
At the Main Zone, 1,100 metres north of the Middlecoff Zone and
550 metres north of the Johnson Zone, there are scattered outcrops
of intensely brecciated quartzite cemented by manganese and iron
oxides over approximately 200 metres of strike. The zone is not
exposed on the hanging wall side but ranges from several metres to
15 metres wide where observed. A grab sample at the footwall
contact of this zone returned 633 g/t Ag and a 3.6 metre (true
width) chip sample returned 223 g/t Ag. 0.12 g/t Au, 0.62% Pb and
1.17% Zn across an outcrop located several metres structurally
above the footwall contact. Significantly, there was no sulphide
mineralization in these rocks, only oxides.
The soil sample survey has identified a significant Zn-Pb-Ag-Mn
soil anomaly 2 kilometres south of and along strike from the
Middlecoff underground workings, covering an area of 200 by 100
metres. This anomaly occurs where the prospective Keno Hill
quartzite host rocks are exposed near the base of the mountainside.
Elsewhere, soil results confirm the presence of multiple
mineralized structures along the trend of the main Mt. Haldane Vein
system between the Middlecoff and Main zones.
The upcoming drill program will focus on testing the Main Zone
and the Middlecoff Zone at depth below the depth of oxidation and
leaching, targeting higher silver grades associated with the
presence of sulphides in samples from underground. As well, the
drilling will test possible structural controls on mineralization
determined by recent geological mapping."
Drilling on the Haldane Prospect is expected to commence in the
coming days. Recently, Habanero substantially increased its land
position in the Keno Hill Silver Region of the Yukon by staking 289
claims for approximately 14,000 additional acres. This now brings
the total acreage for the Haldane Silver Prospect to approximately
21,000 contiguous acres, which borders Alexco Resources Corp.'s
Bellekeno Property. The Yukon Government's published Minfile
database states that between 1913 and 1989, the Keno Hill Silver
District produced more than 217 million ounces of silver (5.37
million tons) with average grades of 40.52 oz/ton silver, 5.62%
lead and 3.14% zinc, making it the second-largest historical silver
producer in Canada.
The work program on the White Gold Prospect in the Yukon has
also just commenced. Equity Exploration Consultants has been
contracted to perform the work. The White Gold Prospect is directly
bordering the Kinross' Golden Saddle Discovery which was acquired
from Underworld Resources Inc. in June 2010.
President Jason Gigliotti stated, "We are pleased about the
findings so far from the Haldane Silver Prospect that borders
Alexco's Bellekeno property. We have now narrowed down our highest
priority drill targets, we anticipate commencing the drill program
in the coming days and are optimistic about what we may uncover. We
have also now commenced operations on our 'White Gold' Prospect,
which borders the Kinross 'Golden Saddle' property and in fact is
the closest property to the actual discovery zone. We also
anticipate starting operations on the Quebec prospect. When you
couple the near all time highs on commodity prices, it is a great
time to commence our primary drill program and to work on our other
properties."
Habanero is a diversified junior company with the following
prospects; the White Gold Prospect in the White Gold Region Yukon,
bordering Kinross' Golden Saddle discovery; the Haldane Silver
Prospect in the Keno Hill Silver Region of the Yukon bordering
Alexco Resources Corp's Bellekeno property; a sizable land holder
within land prospective for lithium in Alberta; significant acreage
in Quebec bordering Beaufield Resources Inc.; and holdings in the
Alberta Oilsands.
If you would like to be added to Habanero's email updates list,
please send an email to ir@habaneroresources.com requesting to be
added.
The technical information in this news release was provided by
and has been reviewed and approved for content by Murray Jones,
P.Geo., of Equity Exploration Consultants Ltd., a qualified person
as defined under the terms of National Instrument 43-101.
To view maps of these projects please go to
http://www.habaneroresources.com.
Habanero Resources Inc.
Jason Gigliotti, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Habanero Resources Inc. Jason Gigliotti President 604
646 6900 www.habaneroresources.com
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