Mike Fagan,
Editor
April 17, 2023
Hannan Metals Ltd. (TSX-V: HAN)(OTC: HANNF) — currently trading around C$0.26 per share — has commenced drilling at the Kilmurry zinc-silver-lead target at its 100%-owned Clare Zn-Pb-Ag-Cu project, Ireland.
The drill program is being deployed to target a seismic anomaly interpreted to represent massive sulphides at 700 meters of vertical depth.
Hannan Metals CEO Michael Hudson — whom you’re about to hear from directly in our exclusive interview — commented via press release:
“While awaiting drill permits on our vast and extensive Peruvian and Chilean copper targets, we look forward to drill testing what we believe to be one of the best grassroots zinc-silver-lead exploration targets developed in Ireland over the last decades. The target represents a rare opportunity in Europe's premier zinc province to leverage the benefit of our past application of seismic technology in hard rock exploration. This has allowed us to both constrain the geological model and drill test a high amplitude seismic anomaly, which is interpreted to be massive sulfides at 700 m depth. Drill testing has started and will be completed by the end of May…”
The Hannan team, in 2018, identified a unit of high seismic impedance at Kilmurry, which has subsequently been interpreted to potentially represent massive zinc-silver-lead sulphides. And prior historical work by Lundin Mining in the main footwall area outlined a potential mineralizing system, which, altogether, has the Hannan team excited to finally have the drills turning at the 185 sq km project.
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View ReportsTurning to Hannan’s flagships in Peru, final drill permitting is expected within the next quarter at the San Martin copper-silver JV project with JOGMEC (Japan Oil, Gas and Metals National Corporation). JOGMEC has the option to earn up to a 75% interest in the project by spending up to US$35 million leading to the production of a Feasibility Study.
The San Martin project comprises a brand-new basin-scale, high-grade sediment-hosted copper-silver system — spanning ~120 km of combined strike — situated along the foreland region of the eastern Andes Mountains.
A phase-one drill program is planned for San Martin pending approval of the company’s Environmental Impact Statement (or “DIA” in Peru), which was submitted in Q2 2022.
The drill permitting process is also advancing at Hannan’s 100%-owned Valiente copper-gold project, Peru. Situated approximately 250 km south of the company’s San Martin project, the property spans 1,164 sq km and is prospective for back-arc porphyry copper-gold systems.
The Hannan field team, which includes six geologists and a full support crew onsite, has identified over a dozen intrusion-related porphyry/epithermal/skarn targets of which the Belen target is the most advanced.
Fieldwork is well underway at three primary Belen targets: Ricardo Herrera, Vista Alegre, and Sortilegio:
- Ricardo Herrera: a newly-identified leached copper-gold porphyry with well-developed quartz veining.
- Vista Alegre: a 1.8-km-long gold-bearing epithermal target area characterized by large gold mineralized boulders of quartz-pyrite and iron oxides.
- Sortilegio: an emerging copper-gold porphyry target located 7 km northwest of Ricardo Herrera.
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View PublicationsWith 1,600-plus samples taken to-date, the program has identified four linked mineral systems, including the first bona fide bedrock find at Valiente.
Hannan is also in the process of acquiring 100% of the Cerro Rolando Copper Porphyry Project located in northern Chile. The project consists of 16 contiguous exploration concessions covering a total of 48 sq km.
Hannan plans to mobilize geophysical ground crews in the coming weeks to validate historical magnetic and electro-magnetic anomalies over the Cerro Rolando copper-porphyry target to define drill targets. Should these surveys prove successful, the Hannan team anticipates about a 3 to 4 month window for completion of the drill permitting process.
In all, based on current and upcoming drill programs, Hannan Metals has developed a series of concurrent drill tests of large-scale critical metals projects in multiple countries, starting now at Kilmurry in Ireland and extending over the coming years at the co-flagships in Peru (San Martin and Valiente) and at Cerro Rolando in Chile.
Hannan is, thereby, entering a critical development phase where speculators can reasonably expect a steady stream of news flow with which to potentially move the needle higher on positive results from the field.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Hannan Metals CEO Michael Hudson to go over the start of drilling in Ireland and much, much more. 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 and sign up to receive updates directly from the company here.
Mike Fagan
Editor, Resource Stock Digest