Hannan Metals discovers another porphyry gold-copper target at Valiente, Peru
Hannan Metals Ltd.’s [TSXV-HAN; OTCPK-HANNF] surface sampling at the 100%-owned Valiente project in Peru has identified an 1,800 m by 400 m alkalic porphyry-epithermal target. The discovery, named Previsto East, contains anomalously high gold in soil samples, associated with multiple large local copper and gold mineralized boulders, in an area covered by scree and soil cover from 1 m to 5 m thick.
The Previsto East discovery is the eighth significant porphyry and/or epithermal target discovered within an area of 25 km by 10 km at Previsto and Belen which Hannan now believes represents a giant porphyry cluster. As surface field work continues, both the number and tenor of individual targets has continually improved.
Highlights: The footprint of the 100%-owned Miocene porphyry cluster at Valiente keeps expanding and further validates the discovery of a giant porphyry district.
At Previsto East the first gold-rich copper porphyry-epithermal target has been identified over a large area: Rock chip and soil sampling at Previsto East have identified an 1,800 m by 400 m porphyry-epithermal target defined by strongly gold anomalous soil samples and a large local copper and gold mineralized boulder field with up to 0.64 g/t gold (“Au”) in soils and up to 1.85 g/t Au in boulders.
Large outcrops of copper oxide mineralization of a similar style have been discovered 3.5 km west of the Previsto East target during recent field work. Assays from this outcrop are pending.
Michael Hudson, CEO, stated: “Hannan’s 100%-owned Valiente project keeps getting better with our teams expanding and making new discoveries every month. The scale of the Previsto East gold-rich copper porphyry system identified here competes with some of the best pre-discovery stage porphyry projects. The larger Previsto area remains largely unexplored, and our teams are now actively expanding the footprint to identify additional copper and gold rich targets adjacent to Previsto East. Excitingly early-stage prospecting has identified large outcrops of copper oxide mineralization of a similar style 3.5 km west of the Previsto East target during recent field work. We believe our work is demonstrating a giant porphyry cluster with the footprint likely to expand with further mineral prospecting during 2024.”
During 2021 Hannan staked 1,002 km2 of 100% owned mining concessions at Valiente covering unexplored terrain for potential mineralized porphyry targets in central eastern Peru. Early surface prospecting discovered two outcropping copper-gold porphyry targets and one epithermal target at Belen that is now being drill permitted. Porphyry discoveries quickly followed at Serrano Norte, Serrano and Pucacunga. The focus more recently has been on Previsto. At Previsto and Belen a giant porphyry cluster within an area of 25km by 10km with eight porphyry and/or epithermal targets now identified in more detail with up to 10 earlier stage targets awaiting further work.
The most recent discovery, Previsto East outlined here is the first gold-rich copper porphyry epithermal target. Hannan geologists anticipate that the porphyry footprint will expand during 2024 as surface work moves into adjacent zones, with large outcrops of oxide copper mineralization of a similar style discovered 3.5 km west of the Previsto East target during recent surface prospecting. Assays from this outcrop are pending.
At Previsto East mineralization and alteration mapping of boulders, up to 5m3 in size, across the entire 1,800 m by 400 m target area have been identified.
Rock chip sampling at Previsto East as identified an 1,800 m by 400 m porphyry-epithermal target defined by strongly gold anomalous large local copper and gold mineralized boulder fields with up to 1.85 g/t Au in boulders. A total of 84 rock samples from large local boulder fields and boulders in metre deep pits ranged from 1.85 g/t Au to <0.001 g.t Au, and averaged 0.15 g/t Au and 0.73% Cu to 0.01 % Cu and averaged 0.08 % Cu (Figure 2).
Soil results at Previsto East over an area of 1,800 m by 450 m show very strong correlation with mineralized boulders. Soil anomalies show good correlation with pathfinder elements. A total of 362 soil samples in a 100 m by 100 m grid and ridge-top samples assayed from 0.63 g/t Au to <0.001 and average 0.02 g/t. Of these 29 samples returned extremely high soil values between 0.10 to 0.63 g/t Au in a coherent area coinciding with mineralized boulders.
Hannan holds 1,002 km2 of mineral tenure prospective for back-arc porphyry copper-gold systems at the Valiente Project in central eastern Peru. The company has been exploring the project since 2021 and successfully gained social permits all areas of interests in the zone. In January 2024 Hannan submitted it first drilling application (DIA) covering two porphyry targets and one epithermal target at the Belen zone. The company is now expanding the footprint by exploring new areas to build a pipeline of projects that will be permitted, and drill tested over the coming five years.