Proactiveinvestors recommends

Red Sky Energy sees upside potential as New South Wales decision on Talma CSG pilot draws near
Xceed Resources: Cash backed and developing coal production and cash flows from Moabsvelden
Oro Verde on the exploration trail of gold and copper in Chile, commences trading today

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	HNR
Latest Price:	0.11 (-8.33% )
52-week High:	0.28
52-week Low:	0.10
Market Cap:	14.48M

1 year chart

1 day chart

Hannans Reward

Hannans Reward (ASX: HNR) is an explorer focused on prospecting for gold and base metals within Western Australia.

Hannans Reward strengthens Forrestania nickel sulphide project

Thursday, February 25, 2010

Western Australian minerals explorer Hannans Reward (ASX:HNR) believes its Forrestania nickel sulphide project continues to be strengthened with the involvement of additional key experienced technical professionals, access to increasingly prospective exploration acreage and a balance sheet that enables a methodical exploration process to be employed without short term capital raising requirements.

During the afternoon trade, shares in the Perth-based company increased 1c to 21.5c.

Since commencing with Hannans in early 2010 the expanded technical team has worked towards improving the geological understanding of the Forrestania Project, reviewing the exploration data sets compiled by Hannans and previous explorers and planning the future exploration strategy.

This has resulted in a significantly improved geological understanding of= the Project, which is well located within the world-class Forrestania nickel sulphide belt.

The next phase of reverse circulation drill testing of priority geological/geochemical/geophysical targets scheduled to commence in March, pending Government approvals - approximately 20 holes for 5,000 metres.

The drilling to occur within the interpreted northern extension of the western ultramafic unit that hosts the high grade Flying Fox nickel sulphide mine is approximately 7km to the south.

Geological and geochemical review has identified several previously unidentified ultramafic units increasing prospectivity of the wider Forrestania Project.

Ground electromagnetic surveys designed to refine VTEM anomalies will be completed this week.

Meanwhile, geophysical interpretation and modelling of VTEM, moving loop EM and fixed loop EM continues to generate additional areas of interest within Stormbreaker corridor.

Multiple co-ordinated field programs will continue throughout 2010.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.