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Hannan Metals (TSX-V: HAN)(OTC: HANNF) CEO Michael Hudson on Permitting Momentum Ahead of Maiden Drill Program at Flagship Valiente Copper-Gold Project, Peru

 

Geraldo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the executive chairman & CEO of my largest personal holding; I’m talking, of course, about Michael Hudson from Hannan Metals (TSX-V: HAN)(OTC: HANNF). Mike, how are you today, sir?

Michael Hudson: Very well, thanks, Gerardo. Lovely to be back with you.

Geraldo Del Real: Well, listen, exciting times. We're getting closer to what's probably going to be my Super Bowl in 2025, right? I'm, of course, talking about drilling for the first time on what has to be a coup of land tenure in Peru, right? I say that in the best possible way with this 1,000-sq-km-plus basin-scale play called Valiente. 

And now, we just received a permit update for drilling at the Belen prospect. This comes right after the news on February 6th that you sampled 69.1 meters at 2.4 grams per tonne gold, including 26 meters at 5.4 grams per tonne gold from another part of this very prospective belt. I'm talking of course about The Monster in Previsto Central. 

But this update for drilling is for the Belen prospect, which has three potential company-making projects that will soon see a drill bit assuming everything continues to move the way it's moved thus far.

I want to commend the authorities and the Peruvian government because I've heard from many, many teams that there's been a step-change in permitting and transparency and structure there in the last 6 to 12 months. And I think, thus far, Hannan has been a good example of that.

Michael Hudson: Yes, without a doubt. Previously, it was just such a long time to get permits. And there was that lack of transparency where bureaucracy had taken over. But that has changed now. And I'm, of course, very happy, and we are working very hard with the Peruvian leadership to bring it back on course. 

I've seen it progress very closely, and it's a great outcome. Now, Belen is located 20 km to the southwest of that Previsto discovery, which was those channel samples; the 26 meters at 5.4 g/t gold, etc. So we're 20 kilometers to the southwest. 

Belen is 4% of the larger land package, which is that 1,000-sq-km-plus area you spoke about earlier, Gerardo. What we have are three different projects over about an 8-km-long trend with 40 platforms approved. 

We received our DIA, Declaracion de Impacto Ambiental, permit back in late November of last year. We’ve now received our Initiate Activities permit. And this is a systematic and rigorous process that we're going through that's very well-defined and that everyone has to go through in Peru. So that's another wonderful step forward. 

Now, there are just a few procedural things that we need to do before we can start drilling, which we’re aiming for Q2 of this year; we very much expect that to be around the beginning of April. And those steps that we have to take are defined in the permits.

We need to set up an archeological monitoring program for any trees that we need to cut down that are greater than 10 cm in diameter. So we just need to go through that process, and we have a field visit coming up with the authorities later this month. We also need to submit and obtain approval for an archeological monitoring program. 

We had the CIRA, which is the archeological certificate, previously obtained. But now, we just need to make sure we don't go in there and damage anything that may be found while we’re cutting tracks, etc.

We’re actually in a position to start within the bounds of those two limitations; the access and the platform construction. But it's almost there, Gerardo; just procedural stuff and a lot of detail for an interview. 

But we're taking this on rigorously and with the care that it needs and working very closely with all of the stakeholders, etc. We're very excited, no doubt, to start drilling imminently.

Geraldo Del Real: Well, listen, I couldn't be happier as a shareholder. And it's not just that we're at this stage. It's how we got to this stage. And I've seen it firsthand when I visited the projects. I saw the social license work that was being done. 

I got to speak with stakeholders. I was able to talk with several of the prominent local leaders. And the enthusiasm for having Hannan come in and work with the integrity that the company has worked with, obviously, made that trip, by itself, worthwhile for me because that's important as a shareholder and as an investor.

When I look at the scale of the projects, and I look at how methodical you've been about de-risking them, it adds a deep, deep layer of confidence that we might not just hit at Ricardo Herrera or Vista Alegre or Sortilegio. We might hit at all three of those, and each one has company-making potential. 

To hit potentially on three would make for a very, very Merry Christmas. Any thoughts there, Mike?

Michael Hudson: It might even be before Christmas if it goes the way you are outlining there, Gerardo. They're very good targets. We've done everything to de-risk them technically. We've done all of the mapping, all of the soils, all of the IP work. And now, we're just ranking all of the targets. 

We have, basically, between 12 to 15 platforms on each one of those different targets. And, really, the rigor is now moving to how to drill each target appropriately and which one to drill first, second, and third, and how many holes to put into each one to give it its best chance of success. 

And we’re not focusing too much on detail initially because they're such large systems. It's all what we know and how to do; without a doubt, that's our expertise. But it is a bounty of riches in terms of what targets we have to play with.

Geraldo Del Real: Well, listen, I have to congratulate you. I saw that you were recently nominated for Kitco CEO of the Year for Southern Cross Gold Consolidated; obviously, a part of that world-class Sunday Creek gold discovery. 

I don't know if they allow for repeats but you might have a good case to make at the end of 2025 depending on what Mother Nature has left behind to go back-to-back, this time, for Hannan Metals. 

Any last words there, Mike? Anything to add to that?

Michael Hudson: Well, yes, I should say that you're only as good as the people you work with and the quality of the people… and reminding everybody from a Hannan perspective that I've been working in Peru since the mid-90s so I have very long and strong relationships there. And then, also the technical leadership from Lars Dahlenborg who's been working with me for 16 or 17 years. 

And then, down in Peru, we have Katty Vargas and Fernando Alva who are very serious, rigorous, and very trustworthy and highly credible people who are doing all of that work on the ground. So they certainly are the secret behind this company. I may be the one talking about it but they're the ones doing all of the hard work. So I think calling out the team is very important.

Geraldo Del Real: I couldn't agree with you more. Very well said… classy as always Señor Hudson. I’m looking forward to chatting again soon. I cannot wait to get the next steps taken care of, and I cannot wait to see what the exploration plan looks like. I suspect we'll have that here sooner rather than later. Thanks again for your time, sir.

Michael Hudson: Thanks, Gerardo.

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