Hansa Resources – Gold and Base Metals in Sweden

Tue, Jun 9, 2009
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Post by Melissa, Gold Reporter
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Overview

Hansa Resources Limited is a TSX-V and Frankfurt, listed Canadian mineral exploration company engaged in the acquisition, exploration and development of base and precious metal properties in Scandinavia. The Company has spread exploration risk by holding both resource stage gold projects in traditional mining camps, and being a “first mover” in testing massive sulphide mineralization discovered in under explored areas. During 2009, Hansa will focus on drill testing and development of the Storkullen (Zn-Au), Vargbacken (Au), Middagsberget (Au) and Puolaki (Au) projects.

What we Like about Hansa

Storkullen discovery won the Geological Survey of Sweden annual “Mineral Hunt Prize” in November 2007
First drilling at Storkullen now underway
Well established mining industry in politically stable country

Chief Properties

STORKULLEN Property

The property was first discovered on August 21 , 2007 by two amateur prospectors, Harriet Svensson, 64 and her best friend Siv Wiik, 69, while exploring along a recently constructed forestry road. The Geological Survey of Sweden and local authorities sponsor the annual “Mineral Hunt Prize” and in November 2007 the winners were Harriet and Siv who won 80,000 kroner ($12,000). Swedish media (See Youtube Video) have described the discovery as “one of the most exciting finds ever by amateur prospectors.”

Rock chip samples taken from the outcrop by the Swedish Geological Survey and Hansa have returned:

Sample Number	Au g/t	Ag g/t	Pb %	Zn %
1	0.05	11	0.5	33.0
2	0.05	17	0.7	27.9
3	23.0	77	0.2	0.33
4	0.2	59	2.2	0.63

An IP survey undertaken in 2008 defined two elongate chargeable features that together cover 570m of strike length. 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. A drill program annouced May, 2009 will test two anomalies along strike with a total strike length of 570 metres, including the massive sulphide outcrop which led to the discovery of the Storkullen project.

VARGBACKEN Property

The property is located in the Skelleftea Gold Line, Vasterbotten County, Northern Sweden, SW of Mala. The Vargbacken gold mineralized body was investigated by diamond drilling (DD) under the direction of North Atlantic Natural Resources AB (NAN). Visible gold in scout drilling coupled with geophysical anomalies extend the target zone to greater than 1 km in strike. Outcrop is sparse and mineralization subcrops against <3m veneer of glacial till overburden. Higher grade gold mineralization has been drill delineated over 300m strike and from surface to the extent of RC drilling at 160m depth. Scout drilling, soil and rock chip sampling has identified gold mineralization over a 1.5 kilometre trend to the north and south of Vargbacken. Vargbacken is covered by a 25 year mining license granted in October 2003. The current NI 43-101 CIM-compliant resource at a 0.5 g/t cut off stands at:

Indicated Resource of 1.74 Mt @ 1.16 g/t gold (65.0 Koz of gold)
Inferred Resource of 0.81 Mt @ 1.42 g/t gold (37.1 Koz of gold)

Hansa intends completing a test pit to verify the gold grade of this nuggetty gold project within the next 12 months.

Middagsberget Property

The property is located on the Skelleftea Gold Line, Vasterbotten County, Northern Sweden, SW of Mala and 4 kilometres from Vargbacken. The property was first explored by the Swedish Geological Survey in the 1970′2 and 1980’s following the discovery of gold mineralized boulders and outcrops. The property is a mesothermal gold project with free gold and gold-sulphide mineralization identified under cover over an area of 300m x 100m, to the extent of drilling at 80m depth. Hansa has re-logged historic core, mapped, prospected and completed 19 RC drill holes plus additional scout drilling. The best RC drill results when applying a 0.5 g/t gold lower cut off grade include:

RC01 11m at 2.05 g/t gold from 32m
RC02 3m at 2.42 g/t gold from 26m
RC04 6m at 2.07 g/t gold from 34m
RC07 4m at 5.79 g/t gold from 42m
RC08 29m at 1.37 g/t gold from 52m
RC09 5m at 3.5 g/t gold from 20m
RC12 1m at 12.9 g/t gold from 57m
RC13 2m at 4.1 g/t gold from 34m
RC14 4m at 1.5 g/t gold from 63m
RC15 2m at 3.0 g/t gold from 42m
RC20 6m at 1.1 g/t gold from 25m

At Middagsberget North, 550m north-west along strike from Middagsberget, surface sampling has discovered a 250m long bonanza-grade gold mineralized boulder train. Individual grab samples from large, locally sourced and angular boulders average 19.7 g/t gold with values ranging from 0.01 g/t gold to 60.8 g/t gold.

Bedrock drilling is proposed to extend the mineralized system and to explore for higher grade mineralization in the vicinity of the mineralization discovered to date.

PUOLALAKI Property

The property is located on the Skelleftea Gold Line, Vasterbotten County, Northern Sweden, 40 km SW of Mala and only 4 kilometres from Vargbacken. Sampling of sulphide material by LKAB in 1985 discovered high grade gold mineralization at Puolalaki. In 1988, basal till sampling and boulder hunting discovered gold to 35 g/t. The main mineralized area was drill tested by LKAB with 28 holes, which returned many mineralized intersections including 3.4m @ 11.5 g/t gold, 0.5m @ 34.1 g/t gold, 1.7m @ 9.0 g/t gold, 1m @ 7.2 g/t gold and 2m @ 3.5 g/t gold, all within 70m of surface.

The Puolalaki project was recently acquired by Hansa, and work to date is limited to compilation of historic work. Bedrock drilling is proposed to extend the mineralized system. Should results be successful, drilling between the north and south bodies of mineralization shall be planed. Potential to calculate a 43-101 compliant resource is being considered based on exisiting data.

Management

Damien Reynolds, President, CEO, Director. Mr. Reynolds has been involved in the junior resource sector for over twenty years. He has gained industry knowledge through founding, investing in and serving on the Boards of a number of public exploration companies. Mr. Reynolds has an impressive track record with projects of merit around the world and also for his ability to raise capital for junior companies. Mr. Reynolds is also the founder of Kyoto Planet Group Inc. — a private global company focused on reducing climate impact through investment, education and media, and serves as Chairman of Kyoto Planet Asset Management.
Nick DeMare, Chief Financial Officer, Secretary, Director. Nick DeMare has been a director and officer of many publicly listed companies in the resource sector since 1986 providing accounting, management, securities regulatory compliance and corporate secretarial services. He graduated from the University of British Columbia in 1977 with a Bachelor of Commerce.
John Nugent, Chairman. Mr. Nugent practiced corporate and commercial law in Toronto prior to becoming an investment banker with Midland Doherty Ltd. After a period in senior management at Midland, John became president of Gardiner Group Stock Brokers Inc. that was sold to the Toronto Dominion Bank. Mr. Nugent was a co-founder and president of Romanex Limited a mineral exploration company that acquired and developed properties in South America and Africa that were sold to Sutton Resources Ltd. which was itself acquired by Barrick. He then became president of International Barytex Resources Ltd., a public mineral exploration company doing business in Canada and Tanzania. Mr. Nugent is presently a director of a number of public mineral exploration companies.
Robert G. Atkinson, Director . Mr. Atkinson has been in the investment industry for over 30 years. He is former President and CEO of Loewen Ondaatje McCutcheon & Co Ltd., one of Canada’s most respected investment dealers. He now serves as Director of Trimin Capital Inc., Quest Capital Corp. and a number of other public companies. Mr. Atkinson received a B.Comm. degree from the University of British Columbia.
William P. Armstrong, Director . Mr. Armstrong earned his Bachelors and Masters degrees in Geological Engineering from the University of British Columbia and has more than 45 years experience in the mining industry. Bill recently retired from Teck Cominco Ltd. where he was general Manager, Resource Evaluations responsible for the evaluation of potential acquisitions and divestitures. He was also responsible for the company’s mineral reserves and resources. During his career with Cominco Ltd. and Teck Cominco Ltd., Bill was involved in feasibility studies, construction and operation of a large number of mines, including coal deposits, underground and open pit base metal mines and precious metal mines.

Search for Hansa Resources News

STORKULLEN Property on YouTube!

News piece on the discovery of the STORKULLEN in 2007

Share Information

Share Structure

Shares Outstanding:

Warrants:

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Fully Diluted:

Stock Exchange:

52,393,317

9,540,000

3,600,000

65,443,317

TSX-V: HRL, Frankfurt: 3F2

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