Mike Fagan,
Editor
Dec. 12, 2024
Hannan Metals Ltd. (TSX-V: HAN)(OTC: HANNF) — currently trading around C$0.80 per share — has identified a 2.4-km-long IP anomaly at the Vista Alegre prospect at its co-flagship, 100%-owned Valiente copper-gold project, Peru.
The Vista Alegre epithermal target — which is sandwiched in between the Ricardo Herrera and Sortilegio porphyry copper-gold prospects — is drill-ready with 12 drill platforms approved as part of a recently-granted DIA permit.
The permit covers a total of 40 drill platforms within the larger Belen prospect area, which spans the Vista Alegre, Ricardo Herrera, and Sortilegio prospects at the 1,000-sq-km-plus Valiente project.
Drilling is anticipated to commence in Q2 2025 and will mark the first-ever drill program at Valiente.
Hannan Metals CEO Michael Hudson commented on the IP results via press release:
“The identification of large scale and coherent IP geophysical anomaly at Vista Alegre represents another significant milestone in the development of the Valiente Project. The correlation between the geophysical anomaly, surface mineralization, and soil geochemistry provides us with compelling and de-risked drill targets. With our recently approved DIA permit including 12 drill platforms at Vista Alegre, we are well-positioned to test this extensive epithermal system in Q2 2025.”
Hannan has wrapped the first stage of its 79-line-km IP survey covering both the Belen and Previsto prospects [total of 8 intrusion-related porphyry / epithermal-skarn targets identified to-date] supported by an extensive mapping and sampling program, which has now confirmed a 6 km x 6 km copper-gold porphyry and epithermal gold mineral system.
At the Belen prospect’s Vista Alegre target, the newly-identified, 2.4-km-long IP anomaly comprises a high-chargeability / low-resistivity zone coupled with a high-chargeability / high-resistivity zone suggesting sulphide and epithermal-style mineralization, respectively.
HAN is awaiting additional IP results / data interpretation from the Belen prospect’s Ricardo Herrera and Sortilegio porphyry copper-gold prospects where the first set of high-priority drill targets from those two areas are being delineated.
At the Previsto prospect (situated to the northeast of Belen and where groundwork is underway), the Hannan team is moving forward with the evaluation of 7 high-priority targets for drill permitting: Two porphyry targets within a 5 km long and up to 1 km wide intrusive trend – and five epithermal targets correlated with extensive gold in soil anomalies.
Hannan’s next steps at Valiente include a reapplication for CIRA (Certificate of non-existence of archaeological remains) from the Peruvian Ministry of Culture followed by a permit application to initiate activities at the Belen prospect, which should have HAN on-track to begin mobilizing the drills in Q2 2025 right at the onset of Peru’s dry season.
The planned phase-one program at Valiente will be the first-ever drilling in an area Hannan’s geologic team believes represents a potential new metallogenic (porphyry copper-gold) province in the Andean back arc.
With both metals looking technically strong heading into 2025, now is an excellent time to be taking a closer look at this well-positioned, sub-C$100M market cap junior explorer.
For additional information on Vancouver-based Hannan Metals, be sure to contact Ms. Mariana Bermudez at the company’s IR department at 604-685-9316 or via email at info@hannanmetals.com.
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Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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