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Hannan Metals (TSX-V: HAN)(OTC: HANNF) CEO Michael Hudson on Derisking Copper-Gold Target at Ricardo Herrera
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of my largest personal holding. I'm talking of course about Michael Hudson from Hannan Metals. Mike, happy shareholder, another day, another large-scale IP geophysical anomaly. This time at the Ricardo Herrera Copper-Gold porphyry target/project in Valiente, of course, the Valiente Project in Peru. Listen, every time we speak, we talk about how much more de-risked the several targets or the several projects have become. I could not be more excited to get into 2025 and get to that maiden drill program because I think it's going to be fireworks. The reason I say that, and I don't want to oversell it, but the reason I'm so enthusiastic and confident that we're going to have a phenomenal 2025 and multiple potential company making and discoveries, is because of the quality of the field work that's gone on.
For better or worse, you've had extra time and years and years of being able to collect the soil samples, do the geophysics, just get really intimately familiar with targets and projects that now have district scale potential. When I hear you start identifying these targets as significantly de-risked and start talking about soil anomalies as bullseye soil anomalies, that gets my simple self excited a little bit more. So Mike, I say all that to say provide the context on this one. Because anytime I hear major discovery in 3D IP survey results and I start reading through it, I get excited.
Michael Hudson: Very good, Gerardo. Well, these results from Ricardo really support all the geochemistry and geology and alteration mapping that we've done over the last few years on this project. And this was the final step to essentially ... Well, not essentially, definitely, define drill targets. And as you alluded to, if everything goes well in Peru ... And so far so good, we got a very quick decision on the DIA this year. 11 months for the main drill permit, which was taking up to three years only a couple of years ago in general in Peru. So Peru seems to be improving. We've got a few smaller steps that we've announced through the release to do post-DIA to get the drilling, and we believe we'll be doing that in Q2 at this whole Belen area of which Ricardo Herrera is basically a third of.
So we've got Ricardo Herrera and Sortilegio, the two porphyries and sandwiched in between a multi-kilometer long epithermal gold system. So what we saw here at Ricardo Herrera does make us smile, because it was the final stage and we needed to see what we saw. There's lots of compelling drill targets and we just can't wait to get drill rigs in there.
Gerardo Del Real: No. Listen, I've long been an advocate of something that you've done with several projects in the past, and that's outlining an exploration target. Now that you have all of the different datasets, are you any closer to being able to do that with any kind of confidence? Or is that something that you'd rather just let the drill bit go define for you when you start drilling here? Hopefully, in April-ish of 2025.
Michael Hudson: Well, we haven't put the exploration targets in. We like to quote exploration targets with a little bit more information. So I think the 3D aspect is important. But here, we have a substantial chargeable anomaly over at Ricardo Herrera alone, a third of this whole Belen area. It's a kilometer by 250 meters down to 350 meters depth, and it won't stop at 350 meters. It's just the limit of the survey. So if you take that volume of sulfides ... And it doesn't mean it's all going to be copper or gold bearing, but there's a strong linkage between sulfide contents and economic metals in these systems. We have a huge target here. It's a company maker by itself if it has the grade. And that's really what we ... Really, the question we need to answer here. The grades are certainly at surface in a leached way because when you get the weathering, that tends to take away the metal.
But we know that the leach zone is running pretty good numbers for a leach zone, and it will be upgraded as we get below that weathered zone. But you just never know until you drill these things and where the best parts of the system are. So there's no doubt Ricardo is a substantial target. Vista Alegre by itself is incredibly interesting, and we can't wait to get drill holes into that. That's a gold system, and maybe one that we focus on eventually because gold is a much easier ask for juniors than porphyries in isolation. And then Sortilegio, you'll see more information come out around that shortly. Those three projects are only 4% of our larger area. We've got 18 other porphyry epithelial systems that no time to talk about, but this is a brand new copper-gold system in the world, and these are just incredibly valuable targets in their own right, but a very small part of the bigger system as well.
Gerardo Del Real: No, listen. And to me, Vista Alegre is a multi-million ounce gold target. I don't think I'm out of line for saying it's target. I'm not saying it's there right now. We'll find out when the drill bit starts turning, but that clearly to me, the length of the mineralization, the depth, the system, the way it presents, screams multi-million ounce gold target to me. If that's one-third of Belen and Belen is 4% of the holdings, then you can start to extrapolate potential valuations. Once the drill bit gets to turning, we start proving whether these things hold up or not. I suspect they will. I suspect we have multiple potential company making discoveries to be made, and we haven't even got, again, to the five by five-kilometer Previsto project that we all call the monster. I'm sure there's more news to come from that, but I think it's going to be a phenomenal couple of years. Anything to add to that, Mike?
Michael Hudson: That was a great summary, and this is going to be a defining year without a doubt. We've always said that Hannan had some amazing targets and it was one to buy and put in your back pocket and wait for Peru to permit. These things we're very, very, very close and got the main permits, and the geology just continues to exceed on the upside. So yeah, very, very few companies worldwide have this exposure. Now, it's for us to execute, get those final steps of permitting and execute and find the best parts of the system early on.
Gerardo Del Real: Let's get to it. Looking forward to it. Appreciate it, Mike.
Michael Hudson: Thank you.
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