Commodity-TV

The whole world of commodities in one App!

Watch Management & Expert Interviews, Site-Visit-Videos, News Shows and receive top and up to date Mining Information on your mobile device worldwide!

Download our unique App for free!
Commodity-TV Play Store
Commodity-TV App Store
Commodity-TV

Social Media


HANNAN EXTENDS MINERALIZATION BY 3 KILOMETRES STRIKE AT SAN MARTIN, PERU CHANNEL SAMPLES 0.4 METRES @ 10.8% COPPER AND 124 g/t SILVER

Receive up-to-date information about the company directly via push notification

Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK: HANNF - https://www.commodity-tv.com/ondemand/companies/profil/hannan-metals-ltd/)is pleased to report Hannan has doubled the number of systematic channel samples collected at the Tabalosos East prospect within the San Martin JOGMEC Joint Venture (“JV”) sediment-hosted copper-silver project in Peru (Figure 1).  Results continue to demonstrate high grades with continuity.

Highlights:

  • Definition of a new zone of mineralization at Renaco that extends mineralization 3 kilometres further south than previously recognized, where a total of 17 channels average 1.1 metres @ 2.1% copper and 29 g/t silver.  Highlights at Renaco include some of the highest grades seen on the project to date (Figure 2):
    • CH3927: 0.4 metres @ 10.8% copper and 124 g/t silver
    • CH243: 2.5 metres @ 2.7% copper and 61 g/t silver
    • CH22317: 0.9 metres @ 4.4% copper and 76 g/t silver
  • Systematic surface channel sampling of the mineralized copper shale at surface has been conducted over 5 separate areas within a 9-kilometre-long by 1-kilometre-wide area that is interpreted to extend with shallow dips to the west for between 2-4 kilometres, with a target depth ranging from surface to 500 metres (Figures 2 and 3). New channel results include (Table 1):
    • CH4321: 3.0 metres @ 3.4% copper and 36 g/t silver
    • CH22330: 1.4 metres @ 5.5% copper and 68 g/t silver
    • CH3917: 2.8 metres @ 1.9% copper and 34 g/t silver
    • Across Tabalosos East, which represents only 1% of Hannan’s 656 sq km of tenure at the San Martin JV area, a total of 91 channels average1.0 metre @ 1.9% copper and 28 g/t silver using a lower cut of 0.5% copper over 0.2 metres and range from 3.0 metres @ 3.4% copper and 36 g/t silver to 0.2 metres @ 0.6% copper and 2 g/t silver.
    • Widths and grades remain consistent with the drill discovery of the Kupferschiefer copper-silver deposits in 1957.
  • A geophysical trial induced-polarization pole-dipole survey will commence in February at Tabalosos East with the aim to map mineralization to depth.
  • A public participation meeting with all stakeholders, to conclude the DIA drill permitting field work component, is expected to be held in February when recently implemented Peruvian COVID-19 capacity restrictions are lifted.
 

 

Michael Hudson, CEO, states “Comprehensive channel sampling provides further excitement, with average widths and grades continuing to show context with drill numbers found during the discovery of the vast Kupferschiefer copper-silver deposits. We have also extended mineralization via channel sampling a further 3 kilometres south into the Renaco area with some of the highest grades we have seen on the project to date including channeling 0.4 metres @ 10.8% copper and 124 g/t silver. With social and geophysical programs planned for February we highly anticipate moving toward our maiden drill program in this expanding mineral system around the middle of the year”.

At San Martin outcrop is extremely poor with <1% exposed rock in the area.  Individual outcrops were located with the aid of soil samples and LiDAR surveying.  Nevertheless, Hannan’s detailed geological facies analysis across the project has identified the economic geological implications for high-grade stratabound sediment hosted copper mineralization that may have significant lateral continuity.

Copper mineralization is located at the base of a transition between the Sarayaquillo Formation and the Cushabatay Formation. This transition has previously been recognized in the district in academic literature, but is not well documented. The mineralized zone is located in the transition between fluvial-aeolian sediments and the onset of marine sedimentation. Copper mineralization is hosted in well-sorted sediments with the main reductant consisting of carbonized plant fragments varying in size from silt to several decimetres, at the top of a red-bed unit. Furthermore, initial observations suggest that the mineralization is mineralogically very simple with the dominant hypogene copper minerals being chalcocite and minor cuprite. Overall, the mineralization is extremely sulfur poor and very little sulfides can be observed in hand specimens. Leaching of the copper mineralization by supergene processes has been observed by Hannan geologists in some zones of Tabalosos and it is possible that the mineralization will show higher grades at depth due to the absence of surface leaching.

Context with the discovery of the Kupferschiefer 

Sediment-hosted stratiform copper-silver deposits are among the two most important copper sources in the world, the other being copper porphyries. They are also a major producer of silver. KGHM Polska Miedz’s (“KGHM”) three copper-silver sediment-hosted mines in Poland (the “Kupferschiefer”) were the leading silver producer in the world and seventh largest global copper miner in 2020. Quoted resources in 2019 for KGHM were 1,518 Mt @ 1.86% copper and 55 g/t silver from a mineralized zone that averages 0.4 metres to 5.5 metres thickness.

To provide context, Hannan’s widths and grade (0.9 metre @ 1.9 % copper and 27 g/t silver) from 105 channel surface samples reported here at San Martin (lower cut 0.5% copper), within an area about 9 kilometres long and 1 kilometre wide, compare with those found during the initial modern-day drill discovery of the Kupferschiefer copper-silver deposits.

  • In 1957 the discovery drillhole (Sieroszowice IG 1) intersected 2.0 metres @ 1.5% copper at the depth of 657 metres.
  • In 1959 the Lubin-Sieroszowice deposit, based on the results from 24 drillholes contained 1,365 Mt @ 1.4% copper and 26 g/t silver in indicated resources, with a thickness ranging between 0.2–13.1 metres in an area about 28 kilometres long and 6 kilometres wide between 400 metres and 1,000 metres depth.

Hannan’s sampling, to date, has been confined to surface channel sampling, although mineralization at Tabalosos East is interpreted to extend with shallow dips to the west for between 2-4 kilometres, with a target depth ranging from surface to 500 metres (Figure 3).

Technical Background

All samples were collected by Hannan geologists. Rock and sediment samples were transported to ALS in Lima via third party services using traceable parcels.   At the laboratory, rock samples were prepared and analyzed by standard methods. The sample preparation involved crushing 70% to less than 2mm, 250g riffle split, pulverize split to better than 85% passing 75 microns. The crushers and pulverizes were cleaned with barren material after every sample. Samples were analyzed by method ME-MS61, a four acid digest preformed on 0.25g of the sample to quantitatively dissolve most geological materials. Analysis is via ICP-MS.

Channel samples are considered representative of the in-situ mineralization samples and sample widths quoted approximate the true width of mineralization, while grab samples are selective by nature and are unlikely to represent average grades on the property.

About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)          

Hannan Metals Limited is a natural resources and exploration company developing sustainable resources of metal needed to meet the transition to a low carbon economy. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Europe and Peru. Hannan is a top ten in-country explorer by tenured area in Peru.

Mr. Michael Hudson FAusIMM, Hannan’s Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

 

 

On behalf of the Board,

 

 

"Michael Hudson"                 

Michael Hudson, Chairman & CEO

Further Information

www.hannanmetals.com

1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7

Mariana Bermudez, Corporate Secretary,
+1 (604) 685 9316, [email protected]

 

In Europe:

Swiss Resource Capital AG

Jochen Staiger

[email protected]

www.resource-capital.ch

 

Forward Looking Statements.  Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.  These risks and uncertainties include but are not limited to:  the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations.  Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news.

 

   

 

 

 

 

 

Table 1: Results from 91 channel samples from Tabalosos East reported through August 2021 to current date.  Lower cut >0.5 % copper over 0.2 metres. Channel samples average of 1.0 metres @ 1.9% copper and 28 g/t silver. Grid projection WGS84 Zone 54 South ESPG:32718.

Hole

UTME

UTMN

From (m)

To (m)

Width (m)

Cu%

Ag ppm

Reported date

CH4321

315191

9291943

1.1

4.1

3.0

3.4

36

here

CH23760

313990

9291964

0.0

2.0

2.0

4.9

62

9-Aug-21

CH3860

312531

9294550

0.0

2.8

2.8

3.3

49

20-Sep-21

CH22330

314051

9293379

0.0

1.4

1.4

5.5

68

here

CH243

315635

9290654

0.7

3.2

2.5

2.7

61

here

CH23999

314038

9293412

0.0

1.2

1.2

5.4

62

9-Aug-21

CH3917

312980

9294375

0.2

3.0

2.8

1.9

34

here

CH207

313998

9291961

1.2

2.1

0.9

5.6

51

here

CH3891

314038

9293411

0.0

1.6

1.6

3.0

34

30-Nov-21

CH3927

312083

9295880

0.8

1.2

0.4

10.8

124

here

CH3803

314047

9293404

0.0

0.7

0.7

5.9

70

9-Aug-21

CH22317

315691

9290491

2.5

3.4

0.9

4.4

76

here

CH211

313994

9291957

4.1

5.3

1.2

3.3

34

here

CH22309

316025

9289377

0.0

1.5

1.5

2.6

29

here

CH3824

313911

9291977

0.0

0.6

0.6

5.0

139

9-Aug-21

CH23764

314341

9291977

0.0

0.4

0.4

7.2

163

9-Aug-21

CH4520

315795

9290211

0.0

2.3

2.3

1.2

14

here

CH49

313984

9291968

0.5

1.5

1.0

2.8

45

here

CH23763

314355

9291977

0.0

0.4

0.4

6.3

152

9-Aug-21

CH101

313553

9295172

0.0

3.1

3.1

0.8

10

20-Sep-21

CH23640

312515

9294485

0.0

2.7

2.7

0.9

17

here

CH4310

314136

9291859

0.5

1.4

0.9

2.7

39

30-Nov-21

CH22331

314108

9293297

0.7

1.9

1.2

2.1

24

here

CH22301

313979

9291959

1.5

4.7

3.2

0.7

11

here

CH3862

312531

9294540

0.0

2.0

2.0

1.1

14

20-Sep-21

CH62

314169

9291861

0.7

2.1

1.4

1.5

30

here

CH43

313967

9291968

1.0

2.5

1.5

1.4

21

here

CH23992

313967

9291967

0.0

2.0

2.0

1.0

19

9-Mar-21

CH4313

314296

9291961

3.5

5.2

1.7

1.2

27

30-Nov-21

CH226

315493

9290591

0.7

2.0

1.3

1.6

20

here

CH3888

315286

9291745

0.0

0.8

0.8

2.3

24

30-Nov-21

CH3818

313955

9291907

0.0

1.1

1.1

1.6

28

9-Aug-21

CH3896

314034

9293427

1.8

2.8

1.0

1.7

19

30-Nov-21

CH4336

315384

9290598

0.2

1.3

1.1

1.5

27

here

CH215

314070

9291932

2.6

4.2

1.6

1.0

17

here

CH3823

313910

9291978

0.0

0.7

0.7

2.3

40

9-Aug-21

CH23758

313984

9291966

0.0

1.3

1.3

1.2

18

9-Aug-21

CH23778

312936

9294177

1.4

1.6

0.2

6.9

89

20-Sep-21

CH4309

314126

9291862

0.0

0.4

0.4

3.4

30

30-Nov-21

CH58

314092

9291845

1.1

2.7

1.6

0.8

17

here

CH114

312053

9295650

0.5

1.1

0.6

2.2

43

30-Nov-21

CH15

315794

9290237

2.0

2.8

0.8

1.7

19

here

CH3821

313970

9291966

0.0

1.8

1.8

0.7

12

9-Aug-21

CH14

314414

9291977

0.0

0.3

0.3

4.3

56

20-Sep-21

CH23781

312937

9294175

0.0

0.2

0.2

6.0

63

20-Sep-21

CH201

313987

9291952

0.7

2.6

1.9

0.6

7

here

CH237

315525

9290801

0.6

2.5

1.9

0.6

16

here

CH3903

313184

9295770

1.5

1.9

0.4

2.7

35

here

CH23784

313497

9295279

0.0

0.6

0.6

1.8

30

30-Nov-21

CH23993

313968

9291903

0.0

0.5

0.5

2.0

35

9-Mar-21

CH24

315808

9290283

0.8

1.3

0.5

1.9

10

here

CH23787

312982

9294376

0.0

0.7

0.7

1.3

13

30-Nov-21

CH3908

313566

9295040

1.0

2.5

1.5

0.6

6

here

CH3806

314093

9293333

0.0

1.0

1.0

0.9

9

9-Aug-21

CH22321

315657

9290599

3.0

4.3

1.3

0.7

12

here

CH3846

313402

9295437

0.0

1.0

1.0

0.9

10

20-Sep-21

CH4507

315796

9290245

0.0

0.4

0.4

2.1

29

30-Nov-21

CH3803

314047

9293404

1.6

2.2

0.6

1.4

18

9-Aug-21

CH222

314346

9291976

0.7

1.8

1.1

0.8

23

here

CH4326

315289

9291745

1.9

2.3

0.5

1.8

20

here

CH109

312250

9295604

0.6

0.8

0.2

4.0

36

30-Nov-21

CH3891

314038

9293411

2.5

3.4

0.9

0.9

10

30-Nov-21

CH75

315304

9291243

0.3

0.9

0.6

1.2

15

here

CH23998

314033

9293426

0.0

0.7

0.7

1.0

11

9-Aug-21

CH49

313984

9291968

2.0

3.0

1.1

0.6

9

here

CH23991

313966

9291966

0.0

1.2

1.2

0.5

7

9-Mar-21

CH229

315533

9290795

0.8

1.1

0.3

1.9

30

here

CH3814

314335

9291976

0.0

0.8

0.8

0.7

16

9-Aug-21

CH22326

314019

9293454

0.7

1.4

0.7

0.7

8

here

CH4508

314415

9291978

0.0

0.5

0.5

1.0

10

30-Nov-21

CH23791

312307

9295506

2.4

2.6

0.2

2.3

21

30-Nov-21

CH3858

312937

9294178

0.0

0.2

0.2

2.2

27

20-Sep-21

CH23775

312531

9294540

0.0

0.3

0.3

1.5

20

20-Sep-21

CH3814

314335

9291976

2.0

2.4

0.4

1.1

16

9-Aug-21

CH233

315548

9290777

0.6

1.0

0.4

1.1

12

here

CH23786

313355

9295498

0.0

0.5

0.5

0.8

9

30-Nov-21

CH23790

312310

9295500

2.2

2.8

0.7

0.5

4

30-Nov-21

CH4333

315204

9291896

0.0

0.5

0.5

0.7

3

here

CH23776

312940

9294179

0.0

0.5

0.5

0.6

8

20-Sep-21

CH2

313354

9295495

2.9

3.4

0.5

0.6

8

20-Sep-21

CH123

312737

9294437

3.2

3.5

0.3

0.9

11

here

CH252

315586

9290719

1.0

1.3

0.3

0.9

13

here

CH23778

312936

9294177

0.0

0.2

0.2

1.2

12

20-Sep-21

CH23762

314415

9291976

0.0

0.4

0.4

0.6

7

9-Aug-21

CH3853

315387

9290592

0.0

0.4

0.4

0.5

8

20-Sep-21

CH4542

313401

9295438

0.3

0.7

0.4

0.5

7

here

CH129

311979

9296031

0.5

0.7

0.2

1.0

8

here

CH22312

314432

9291983

0.5

0.7

0.3

0.8

11

here

CH219

314092

9291926

1.0

1.2

0.2

0.9

6

here

CH123

312737

9294437

1.9

2.2

0.3

0.5

6

here

CH106

312988

9294371

0.0

0.2

0.2

0.8

18

20-Sep-21

 

 

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required
SRC Mining & Special Situations ZertifikatSRC Mining & Special Situations Zertifikat