Habanero Resources Inc.

Habanero Resources Inc.

December 17, 2009 03:01 ET

Habanero Receives Approval for Silver Project in the Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2009) - Habanero Resources Inc. ("Habanero") (TSX VENTURE:HAO)(PINK SHEETS:HBNRF)(FRANKFURT:HRJ) wishes to announce that it has received regulatory approval for an option agreement to acquire 100% of the Haldane Silver Prospect located in Yukon, Canada. The Haldane Property consists of 99 contiguous quartz mineral claims comprising approximately 1950 ha. (4818 ac.)

The Haldane Silver Prospect is structurally controlled, silver vein mineralization located within the Keno Hill silver district in the central Yukon. 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 at the Haldane property 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 are not necessarily representative of this prospect itself. Habanero plans to file a 43-101 report once completed.

Jason Gigliotti, President of Habanero stated, "Management is pleased to receive approval on the Haldane prospect. The board feels that this prospect has the potential to have the largest impact on Habanero's corporate growth in 2010 and we look forward to developing this prospect. The geologists that brought this acquisition to Habanero will work directly with Habanero to advance this prospect, providing valuable insight as the drill program commences. 2010 is shaping up to be a very active year for Habanero as multiple prospects that were staked or acquired in 2009 will have work commence on them in 2010."

Qualified Person Statement

This news release has been reviewed and approved for technical content by Murray Jones, P. Geo. Mr. Jones is a Qualified Person as defined under the terms of National Instrument 43- 101.

Habanero is a diversified junior company with the following prospects: acreage in the Alberta Oilsands; land in the Yukon, bordering Underworld; a sizable land holder within the land prospective for lithium in Alberta; two prospects in the Stewart Mining Region of BC, one bordering Canasia's Clone Prospect and the other in the vicinity of the recent discovery made by Decade Resources Ltd.; land in the Barkerville Gold Camp of BC bordering International Wayside Gold Mines Ltd, and now the Haldane Silver Prospect in the Yukon.

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Habanero Resources Inc.

"Jason Gigliotti"
Jason Gigliotti, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Habanero Resources Inc.
    Jason Gigliotti
    (604) 646-6900