Mike Fagan,
Editor
Nov. 27, 2024
Hannan Metals Ltd. (TSX-V: HAN)(OTC: HANNF) — currently trading around C$0.58 per share — has been granted environmental approval for its forthcoming inaugural drill program at the Belen prospect at its co-flagship, 100%-owned Valiente copper-gold project, Peru.
In Peru, that Environmental Impact Statement is known as a “DIA” (Declaracion de Impacto Ambiental) and represents the key permit the Hannan team had been awaiting ahead of its planned phase-one drill program at Valiente.
The newly-received permit covers 40 drill platforms within the Belen area, which encompasses the Ricardo Herrera, Vista Alegre, and Sortilegio prospects across an 8 km by 2 km trend (with the DIA covering just 4% of Hannan’s total 1,000-sq-km-plus Valiente landholding).
Hannan Metals CEO Michael Hudson — whom you’re about to hear from directly in our exclusive interview coming right up — commented on the receipt of the DIA via press release:
“The approval of our second DIA in Peru marks a milestone for Hannan's work in the Andean back arc. Our maiden drill program at Belen will deploy up to 40 platforms to test the extensive porphyry copper-gold and epithermal gold mineral systems for the first time across the Ricardo Herrera, Vista Alegre, and Sortilegio prospects, while we continue our groundwork programs at Previsto. We are grateful for our employees’ and external experts’ detailed work, the strong support from local communities during public participation meetings, and the guidance from various government agencies where we have encouragingly seen permitting times in Peru shorten significantly.”
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, which should have HAN on-track to begin mobilizing drill rigs in Q2 2025 right at the onset of Peru’s dry season.
Aiding in the delineation of drill targets for the upcoming program, Hannan recently completed an extensive IP survey at Valiente with preliminary results identifying a minimum of 18 magnetic anomalies of significance property-wide with additional survey data forthcoming.
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.
In terms of the three current highest-priority Belen prospects within the newly-permitted DIA area, Ricardo Herrera and Sortilegio have been identified as porphyry copper-gold with Vista Alegre identified as epithermal gold in between the two porphyries.
For much more on that, our own Gerardo Del Real of Junior Resource Monthly — who recently returned from a site visit to the Valiente project — caught up with Hannan Metals CEO Michael Hudson to go over the newly-received environmental permit and the shot-in-the-arm now created ahead of the highly-anticipated start of drilling at the co-flagship Valiente project. Please enjoy!
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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