Categories: Base Metals
Topics: General Base Metals

Hannan Metals (TSX-V: HAN) CEO Michael Hudson on the Doubled Land Position & Upcoming Field Work at the San Martin Copper Project in Peru

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the Chairman and CEO of Hannan Metals (TSX-V: HAN)(OTC: HANNF), Mr. Michael Hudson. Mike, how are you this afternoon?

Michael Hudson: I'm pretty well. Sounds like you had a hard night there. A bit scratchy in the throat, Gerardo.

Gerardo Del Real: It's allergies. The only downside to Austin are the allergies. It's that and a lot of talking today. It's been a busy day.

Michael Hudson: Very good.

Gerardo Del Real: A good busy though, productive busy. It's good to see the explorers getting back out there and exploring. Copper is on fire again. We're flirting with $3 a pound. You had a very timely release for Hannan, which as we know is drilling in Ireland. But you also just doubled your land position claim applications at the San Martin Copper Project in Peru. You have a district-scale exploration play that now covers over 50 kilometers of strike is the way that I understand it. Can you provide some clarity there for me, Mike?

Michael Hudson: Sure, Gerardo. This is a new discovery. We announced late last year that that first claim we put in where we'd gone and explored in over 15 kilometers and we'd found the boulders that were shedding from outcropping, a copper horizon over 15 kilometers. The average of those samples was something just under 3% copper and about an ounce silver. But more importantly the context of the samples, they look really interesting in terms of the style is sediment-hosted copper style that produces, in terms of style of copper, the second most amount of copper in the world. These things can be become quite big. This is a new basin, a new discovery.

We've extended the ground by another 25 kilometers. So, basically the 25 plus 25 is the 50 kilometers. But there's multiple horizons within the ground that we see multiple limbs on anticlines, multiple anticlines. There's way over 100 kilometers of strike that we've got at the moment. Like I said, a very new basin. A new discovery in a pretty mature country that produces a great degree of the world's copper.

Gerardo Del Real: Now, the Hannan team is very experienced in Peru. A lot of people may not be aware because the flagship up until now is based out of Ireland. Can you talk a bit about that experience and what led you to Peru?

Michael Hudson: Yeah, youth and enthusiasm basically. About quarter of a century ago I ended up in Peru in the '90s and spent many years living there looking for zinc at the time, actually. And then that company that I was working for and my colleague at the time, Mark Saxon, went into liquidation in the late '90s. So, Mark and I bought the data package of that major company and that data package today still stands as one of the better publicly available data packages. We sold it off to maybe 30 or 40 companies in the day. But importantly, we kept the IP behind that data and have had various forays into Peru.

Probably the most famous discovery that's coming out of that work is the Tinka Ayawilca Project, Colquipucro Ayawilca. That’s our last discovery there if you like. Tinka went on and made that discovery themselves, but we've handed them that project very early days from that database. We love being back in Peru. We love Peru.

Gerardo Del Real: Excellent. Field work will start mid-March of this year, correct?

Michael Hudson: It will, just in another few weeks.

Gerardo Del Real: Excellent. What can we expect for the rest of the year out of Peru? It's a humongous land package. You obviously have to be excited exploring in an area that has all the indications of a major copper-silver district. What can we expect out of that field work?

Michael Hudson: Yes, first mover advantage here, Gerardo. We will do lots of field work. We'll put multiple teams on the ground. This is first principles exploration. You don't find very many high-grade copper discoveries in good jurisdictions these days at surface. What we're going to do is put lots of geologists and our sampling teams up these creeks looking for float that has literally rolled down the hills into the creeks. And then bash our way up the hills and find the outcropping mineralization if we can. And then map that rock, chip it, and then map it along strike to see where the thickest zones are, the highest grade zones and really get some idea of the copper distribution across that vast area.

Gerardo Del Real: True exploration. Getting out there and doing it the right way. Mike, anything else that you'd like to add?

Michael Hudson: No, we will have some updates on our drilling in Ireland at the Kilmurry Project that we've been drilling and that's where I've just been looking at the rocks today. I'm in Ireland as I speak. We look forward to updating the market on that drilling very soon.

Gerardo Del Real: I look forward to the update. Mike, thank you as always for your time.

Michael Hudson: Thanks, Gerardo.