This junior was an active play in Tar Sands in the hey days in Canada. Will it reinvent itself with its new move into Lithium, Gold and Silver projects? Lithium part of this story is not even close to the
International Lithium - our top pick in this sector - but other properties in addition to Lithium flavor are interesting and liquidity in the market suggest that we can see some follow up on this company among investors once the Risk play will be back.
Habanero Resources Inc. is a diversified junior company with multiple projects in Gold, Silver, Lithium and the Alberta Oil Sands.
Habanero has the Haldane Silver Prospect in the Keno Hill Silver district of the Yukon. This prospect is in the vicinity of the "Rau" discovery of ATAC Resources Ltd (ATC-TSX.V) and Alexco Resources' (AXR-TSX) Bellekeno Mine.
Habanero is also well situated in the Yukon with the "White Gold" and Haldane Silver Prospect. The White Gold property is directly bordering Underworld Resources' (subsequently taken over by Kinross) "Golden Saddle" discovery and lies directly north of Kaminak Gold Corp's - (KAM: TSX-V) discovery at their 'Coffee' Prospect.
Habanero has recently announced the acquisition of 8,303 additional contiguous acres bordering Beaufield Resources Inc.'s (BFD - TSX.V) Tortigny prospect, approximately 125 kilometres northwest of Chibougamau, Habanero now holds 55,100 acres bordering Beaufield Resources Tortigny prospect.
Habanero has land holdings prospective for lithium in Alberta and has significant acreage in the Alberta Oil sands as well as minority ownership in Andora Energy, an early stage Oilsand Project.
The Haldane is a structurally controlled, silver vein prospect located within the same geological formation as all the other major silver discoveries in the Keno Hill Silver District in central Yukon.
The Haldane Silver Prospect consists of 143 contiguous quartz mineral claims, covering over 7,100 contiguous acres, in one of the most prolific silver producing regions in Canada.
Between 1921 and 1988, the Keno Hill silver district produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6 per cent lead and 3.1 per cent zinc (Yukon government's Minfile database).
The historical production grades would rank Keno Hill in the top 3 per cent by grade of today's global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada. The Haldane property is well situated about 25 kilometres west of the main Keno Hill deposits. Mineralization is controlled by northerly trending structures, and consists of galena, sphalerite and tetrahedrite-tennantite in quart-siderite gangue. The best mineralization found to date occurs where the mineralized structures cut the Keno Hill quartzite unit, below the Robert Service Thrust. This is almost identical to the setting for mineralization at the main Keno Hill deposits. Any historical data presented here is not necessarily representative of this prospect itself. Habanero plans to file a 43-101 report once completed.
Jason Gigliotti, President of Habanero stated, "This project offers Habanero an opportunity to enter into one of the most prolific silver producing regions in Canada. Silver prices are currently near historic highs and management is optimistic regarding what this prospect may mean for Habanero in the future."
"US Dollar Collapse: Inside Job: S&P Downgrades US Long Term Debt to AA+, Outlook Negative. Once the panic settles we will see flight to the Real assets, China will not be able to diversify all 1.2 Trillion holdings in US Treasuries, but the gradual transition will be in place - new world currency will be the Hard one based on Gold, Silver, Copper and access to strategic commodities like Oil, Lithium and REE. We are expecting that first the gold Majors will properly reflect the Gold valuation in their market caps and after that liquidity will go downstream into the Gold and Silver Juniors. Copper juniors will be at the mercy of the M&A consolidation game again and Lithium will show its truly strategic status with every uptick in the Oil price again."
August 23, 2011
Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE: HAO.V) 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.
Tel: 604 646 6900
"Jason Gigliotti"
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"
Jim Rickards
