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Hanna Capital Corp. - Jasper Property

Hanna Capital Corp.
·3 min read

Figure 1 - Jasper Property Location:

Jasper Property Location
Jasper Property Location
Jasper Property Location

Figure 2 - Claim Location:

Claim Location
Claim Location
Claim Location

TORONTO, March 04, 2021 (GLOBE NEWSWIRE) -- Hanna Capital Corp. (the “Company”), a publicly traded company focused on raising capital for exploration mainly in the base metal and resource sectors. The Company is focused on providing investors with long-term capital growth by investing in a portfolio of undervalued companies and assets.

One such asset is the Jasper Property which is wholly owned by the Company. The property is located in west-central Vancouver Island, British Columbia, and consists of 4 mineral claims covering 3978 hectares.

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Previous work done on the property included soil and rock sampling, geological mapping, drilling and limited geophysical work. This work confirmed the presence of lower Jurassic Bonanza Group, which comprises predominantly tuffaceous volcanic rocks.

Mineralization discovered in outcrop over a 2.5 by 0.5 km area on the property consists of 15 sulphide zones. The results include:

  • Outcrop sampling included: zinc: 0.01% to 15.00%, copper: 0.09% to 8.38%, lead: 0.01% to 20.07%, gold: 0.019 g/t to 0.214 g/t and silver: 3.04g/t to 61.45g/t

  • Drilling results showed zinc: 0.146% to 11.570%, copper: 0.011% to 0.871%, lead: 0.003% to 6.330%, gold 0,006g/t to 0,05g/t and silver: 2.50g/t to 61.45g/t

The model given at the time was hydrothermally remobilized base metal mineralization related to either one of the following:

  • Polymetallic Veins Ag-Pb-Zn+/-Au.

  • Epithermal Au-Ag-Cu High Sulphidation.

  • Cu+/-Ag Quartz Veins.

  • Noranda/ Kuroko massive Cu-Pb-Zn.

  • Porphyry Cu-Mo-Au.

Either one of this type of geological settings may point to geological occurrences conducive to mineralization worthy of evaluation, by way of a drill program. Considerable technical re-evaluation is currently underway to take the geophysical interpretations into consideration. The results will be released once available.

“The recent surge in copper price is quite encouraging for the future outlook of the Company. Every major economy in the world is preparing for an infrastructure boom which should be favorable for all base metal producers. The Company is well positioned to fully exploit this potential base metals boom and to bring value to its shareholders,” said Herb Brugh, President of the Company. “The Company is looking forward to the results of the re-evaluation becoming available.”

The Qualified Person for the Jasper Property is Jacques Houle, B.A.Sc., University of Toronto – Geological Engineering – Min. Ex. Option P.Eng. since 1989 Association of Professional Engineers and Geoscientists of B.C.

Corporation contact:

Herb Brugh
President and Director
Tel: 416.945.6630

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Hanna is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Hanna cannot assure investors that actual results will be consistent with these forward-looking statements and Hanna assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/5e99d604-e00c-480d-88d2-6ef55a5393fd

https://www.globenewswire.com/NewsRoom/AttachmentNg/4c4beb61-be60-44d7-9410-8624adc3b0cf