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Habanero Commences Drill Program In Keno Hill Silver District of the Yukon


Published on 2010-06-10 01:00:33 - Market Wire
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2010) - Habanero Resources Inc. ("Habanero") (TSX VENTURE:HAO)(PINK SHEETS:HBNRF)(FRANKFURT:HRJ) wishes to announce the drill program on the Haldane Silver Prospect in the Keno Hill Silver district of the Yukon has now commenced. Historic data indicated production of 24.7 tonnes of sorted ore grading 3101.7 g/t silver on the Middlecoff Zone (1919) with later drilling returning 2,790.8 g/t over 1.2 metres. On the Johnson Adit, historic data states production of 2.1 tonnes of sorted ore grading 4602.1 g/t silver (1926-27), and a 2008 surface float sample assayed 955 g/t silver, 16 g/t gold. Other historic showings throughout the property had anomalous rock samples up to 6,208.3 g/t silver. The historic data was compiled pre NI 43-101 reporting, therefore they cannot be relied upon.

Jason Gigliotti, President of Habanero stated, "This is a very exciting time for Habanero. This is Habanero's first drill program in over three years in one of the largest historic silver producing regions in the world. Based on the historic data from the the Haldane Property, management is optimistic that similar results may be obtained from the current drill program. According to government officials from the Yukon, they expect this year to be one of the most active drill seasons in many years. Habanero has two projects located in two of the most focused upon regions in the Yukon. The Haldane Silver Project is located near Alexco Resources Corp. and Silver Wheaton Corp.'s Bellekeno mine, which is expected to go into production later this year. The other Yukon prospect borders Underworld Resources Inc. and is the closest property to their actual discovery. Recently, Underworld agreed to a friendly takeover from Kinross Gold Corporation. Our White Gold Prospect also lies directly north of the recent discovery made by Kaminak Gold Corp., who just announced 17.1 grams per tonne over 15.5 metres. Clearly this is one of the most influential times in the last few years in terms of potential corporate growth for Habanero and managment looks forward to the results from the current drill program."

The first phase of the 2010 drill program is designed to test the Mt Haldane vein System on the north side of Bighorn Creek where up to 5 parallel, mineralized structures are indicated by surface trenching and underground workings. This will be achieved by a fence of two drill holes on the Johnson Adit section for a total of approximately 500 metres drilling. On the south side of Bighorn Creek, drilling will test for down dip extensions of the vein and breccia mineralization in the adits on the Middlecoff Showing. This will be done with one focused drill hole of approximately 125-150 metres.

Permitting is in progress to open road access to the property to facilitate the next phase of drilling. The first phase is anticipated to take between 10 to 14 days.

The Haldane Property is a structurally controlled, silver vein prospect 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 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 NI 43-101 report once completed. Haldane Silver Prospect is approximately 7,150 contiguous acres.

This news release has been reviewed and approved for technical content by Henry Awmack, P.Eng., 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; the Haldane Silver Prospect in the Yukon; a sizable land holder within the land prospective for lithium in Alberta; two prospects in the Stewart Mining Region of BC, one bordering Canasia Industries Corporation's Clone Prospect and the other in the vicinity of the discovery made by Decade Resources Ltd.; land in the Barkerville Gold Camp of BC bordering Barkerville Gold Mines Ltd., and property in the Red Chris Mining Region of BC near Imperial Metals Corp.

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.

To view maps of these projects please go to [ http://www.habaneroresources.com ].

Habanero Resources Inc.

Jason Gigliotti, President


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