Categories: Precious Metals / Mining Stocks
Topics: Gold Stocks / Copper Stocks

Hannan Metals (TSX-V: HAN)(OTC: HANNF) Exploration Manager Zac Turschwell on Active Drilling at Newly-Acquired Stavaträsk Gold Project, Sweden, and Continued Advancement of District-Scale Previsto Gold-Copper Discovery, Peru

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the brand-new — at least from a front-facing standpoint, and we'll talk about that — Exploration Manager for Hannan Metals Ltd. (TSX-V: HAN)(OTC: HANNF), Mr. Zac Turschwell. Zac, it took a little bit to get you on here, but I'm glad you're here. How are you today?

Zac Turschwell: Hello, Gerardo. Nice to finally meet you. I'm doing well.

Gerardo Del Real: I mentioned that you are technically the new front-facing Exploration Manager for Hannan but you've been doing a lot of work behind the scenes. You've been behind the scenes for quite a bit now.

I'm a longtime shareholder since 2016. We started in Ireland where the name Hannan came from, and then we pivoted. Now we have this amazing trophy asset in what is shaping up to be a district-scale gold-copper-silver monster at Previsto in Peru. We're going through the permitting process, and we know the prize is going to be worth the wait, but we also know there is going to be a bit of a wait while we work through that process.

So when I spoke with Michael Hudson and the team, and it was announced that you're now going to be focusing on these high-grade gold projects in Sweden and drilling them — they're drill ready — the drill is turning while simultaneously permitting the flagship, which is still Previsto, and doing the surface work there, I could not have been happier as a shareholder.

So I wanted to have you on, first off, so you can provide some context as to the program that has commenced in Sweden. Then, let’s talk about how that fits together with what's going on in Peru and these other projects in Sweden because it looks like we're finally going to have a full rest of the year of drilling news to be excited about.

Zac Turschwell: Yes, that is absolutely right. It's very exciting to get these projects onto the Hannan roster. What's key is that the drilling and exploration work in Sweden is going to be happening in parallel with our surface work and permitting at Previsto. 

Like we've said, Previsto remains the jewel in the crown of Hannan, and we are just utilizing our time and resources as best we can to get some nice runs on the board while we wait for that permitting process to come through.

So, like we say, it is all happening in tandem. The Previsto project still has six geologists on the ground every month, and they are constantly advancing the discovery, increasing our understanding of the geological model, and expanding the footprint of mineralization.

Like we've seen in the last two or three press releases, we have returned to Previsto Central with the intention of increasing our sample density, and we could not be more impressed with the results. We're getting entire campaigns where every single channel sample returns mineralization, which is pretty remarkable for such an early-stage project.

That continues to advance while we also move the permits forward. They remain on track to be submitted this month. So within the next week or two, we'll be submitting our DIA Amanecer application for the Previsto project.

And then, as we're speaking about today and as announced in the news release issued on Monday the 22nd, we have mobilized a drill rig to Stavaträsk, which is one of the three high-grade gold projects in Sweden.

Stavaträsk is a very interesting project. From the surface expression, it looks like a Boliden analog. Boliden was one of Europe's richest gold mines — four million ounces at 15 grams per tonne gold — and it is only 20 kilometers south of Stavaträsk. It also sits on the same major regional-scale shear structure. So it appears to share the same plumbing system as Boliden, and what we see at surface is pretty exciting.

There are two mineralized zones at surface. The first is an outcrop that has returned up to 93 grams per tonne gold in silica and pyrite-rich material. It's a very visual orebody-style target at surface.

The second zone, about 50 meters to the southeast, consists of boulders that we believe are quite close to their source and haven't traveled very far at all. Those boulders have returned around 11 grams per tonne gold, with values up to 150 grams per tonne gold and a couple percent copper as well. So it has a geochemical signature similar to what Boliden has.

The plan for this first pass of drilling is very simple: test that surface mineralization with a series of short holes, generally less than 200 meters in length, targeting near-surface mineralization and testing both zones across a 650-meter strike length.

The rig was mobilized this week. The drill is turning, and we are very excited to get some results out to the market.

Gerardo Del Real: It's a high-grade gold project. It's a project the team is intimately familiar with. It's a project that has seen drilling in the past.

What are you hoping and wanting to see out of the initial 1,000 meters? The way I understand it, it's up to 2,000 meters for this first phase, but obviously the second 1,000-meter program is going to be contingent on the first 1,000 meters proving what to you and the team?

Zac Turschwell: Yeah, that's right. With this first 1,000 meters, I'm hoping to see at least the same textures and ideally the same tenor of mineralization that we're seeing at surface, just to confirm that continuity down to about 100 meters vertically. Once we have that in hand, if the results are favorable, then that second 1,000 meters will be used to continue testing along strike and ideally with a few holes down dip as well.

So we want to test the shallow surface expression and see what the footprint actually looks like, and then follow up on the best results from that first 1,000 meters. We'll likely have this first 1,000 meters completed within a few weeks. The drillers are moving relatively quickly, and we'll have rush assays processed, so hopefully we'll get a quick turnaround on those results as well.

If we see something in the realm of the grades we're seeing at surface, then I'll be very happy.

Gerardo Del Real: So there's the potential for having assays and drill results sometime in late July. Is that accurate?

Zac Turschwell: Sometime in late July, yes. I'd say July to August is when we should start seeing some drill results.

Gerardo Del Real: Well, listen, that's exciting stuff. I know there are a few other projects, but I want to keep the focus and attention on this one for the time being. We can definitely talk about the other projects when the time comes. I couldn't be more excited. The last six months of the year look like drilling, drilling, and a lot more work at Previsto.

Zac Turschwell: That's exactly right. You'll see a lot of news flow coming out of Hannan. We'll have drill results from Sweden and continued surface results from Previsto. Like we've said before, there are six geologists on the ground and 12 to 14 days of field work per month at Previsto. 

They are working very hard to increase our understanding of the mineralization there so that when we do mobilize a drill rig at Previsto, we'll be in the best possible position to drill the best holes we can. So we're really excited. There is a lot happening.

Gerardo Del Real: Well, congrats on — I don't want to call it a pivot — but congrats on bringing in some exciting near-term catalysts for the rest of the year. Obviously, I couldn't be more excited to continue watching the district-scale Previsto project grow. Every time we get results, they continue to impress in terms of continuity, scale, and grade.

I know you've only explored something like 4% to 5% of that land package, so I can't wait to see what else it holds. I also like that the team has refocused on getting back to Previsto Central and really concentrating on expanding that high-grade core portion of the system, which I think gives us the best shot at a significant discovery right off the bat when the drill finally turns.

Zac Turschwell: Yes, absolutely. I couldn't agree more. Returning to Previsto Central has proven to be a very rewarding exercise. As you've seen in the last one or two press releases, we're sampling across that principal channel in the east-west direction and at high angles to it.

We're continuing to see more mineralization, and it does appear to be developing into a larger bulk-tonnage-style system. We're seeing grade in multiple directions, and the mineralization remains open in all directions, limited only by the extent of our sampling so far.

As you know, we're working in the jungle, so there is a lot of vegetation to deal with, and our field geologists are doing a fantastic job collecting the channel samples they are getting.

Gerardo Del Real: Zac, it has been an absolute pleasure having you on. Looking forward to getting you back on here in a few weeks. As I mentioned, I couldn't be more excited. Thank you again for your time. I appreciate it.

Zac Turschwell: Thank you, Gerardo. I'm looking forward to the next one too. Cheers.

Gerardo Del Real: Alright, cheers.

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