Hannan Metals samples 2.4 g/t gold over 69.1 metres at Previsto Project, Peru
Hannan Metals Ltd. [TSXV: HAN; OTCPK: HANNF] has discovered significant gold mineralization at its 100%-owned Previsto project in Peru.
Channel sampling has revealed high-grade alkalic-type epithermal gold mineralization with 69.1 metres at 2.4 g/t gold, including 26.0 metres at 5.4 g/t gold. The finding, which remains open in all directions, is situated within a larger 6-km-by-6-km epithermal-porphyry cluster, further indicating the potential for a major new mineral district.
Highlights – Significant gold results: Two channels sampled continuous outcrop of alkalic-type epithermal gold mineralization: a north-south channel (CH15486) assayed: 69.1 m at 2.4 g/t Au and 13 g/t silver (Ag) (uncut), including 26.0 m at 5.4 g/t Au and 27 g/t Ag (lower cut three m at 0.8 ppm (part per million) Au).
The high-grade nature of mineralization is demonstrated by peak assays including 0.7 m at 16.1 g/t Au, 60 g/t Ag, 48 g/t tellurium (Te).
The channel remains open to both the north (4.8 g/t Au last assay) and south (0.8 g/t Au last assay) and a grab sample of outcrop located 60 m SSW (south-southwest) assayed 0.8 g/t Au, seven g/t Ag and 3.8 g/t Te.
An east-west channel (CH16401) that joins the northern end of CH15486 assayed 7.0 m at 1.2 g/t Au and 19 g/t Ag (lower cut 2.5 m at 0.3 g/t Au).
The channel remains open to both the east (1.7 g/t Au last assay) and the west.
Large system: The channel sampled gold sits within a larger six km by six km epithermal-porphyry cluster, positioned on the northern edge of a four km by four km gold-in-soil anomaly (greater than 0.1 g/t Au). This suggests significant potential for a large-scale mineralized system.
Style and quality: The alkalic-type epithermal gold mineralization is particularly encouraging, as these systems can develop into large, high-grade deposits globally. The mineralogy suggests minimal erosion, indicating the potential preservation of a significant vertical extent of mineralization. Multiple untested targets surrounding the gold mineralization, including copper porphyry mineralization 1.3 km northwest (192 m at 0.16 per cent Cu) and a gold-copper target 2.6 km east, underscore the district-scale opportunity.
Strategic position: This finding adds to Hannan’s systematic prospecting of the 150 km long Valiente gold-copper project. With drill permits secured for Belen (20 km SW (southwest)) and drilling scheduled for Q2 2025, the company is methodically derisking multiple targets across this emerging mineral belt.
Michael Hudson, CEO, stated: “This new finding represents a potentially significant new gold district in Peru, with characteristics suggesting both high-grade potential and substantial scale. Identification of high-grade gold at surface with scale is extremely rare. Particularly given gold mineralization remains open in all directions and sits within an extensive four km by four km gold-in-soil anomaly that we have barely begun to explore.
“The alkalic-type epithermal gold style of mineralization is encouraging, as these systems globally can develop into large, high-grade deposits. We are in the very early stages here — these results comes from initial channel sampling, and we have multiple untested targets across the four km by four km soil gold anomaly.
“Hannan’s strategy is to systematically explore the new Valiente mineral belt gaining drill permits progressively as we make further discoveries. With Peru’s improving and transparent drill permitting system, we look forward to drilling at Belen in Q2 2025, located 20 km to the SW of Previsto, while we derisk this new gold finding to achieve staged drill programs across the entire 150 km long Valiente gold-copper project.”
The gold mineralization was discovered during follow-up of anomalous reconnaissance high-grade rock samples (0.4 m at seven g/t Au). The channels are located at the northern margin of a four km by four km soil gold anomaly greater than 0.1 g/t Au, with the majority of the anomalous zone remaining untested. The gold mineralization was trenched along a small drainage while the soil samples were collected along ridge lines.
Along with this new gold finding, Hannan has also identified a four km by four km gold in soil anomaly that also is associated to a degree with:
Porphyry copper mineralization located 1.7 km northwest from the gold mineralization where channel sample results (previously reported) include 192 m at 0.16% Cu and 126 metres at 0.22% Cu.
At Previsto East, located 2.6 km east of the sampled gold mineralization, an 1,800 metre by 400 metre gold-copper porphyry-epithermal target has been identified. The zone is characterized by strongly anomalous gold in soils (up to 0.6 g/t Au) and mineralized boulders (up to 1.9 g/t Au).
The company is advancing multiple work programs to develop the Previsto gold-copper prospect: expanded soil sampling and channel sampling programs to define the full extent of mineralization; detailed prospecting, geological mapping and structural analysis to better understand mineralization controls; iImplementation of further induced polarization geophysical surveys over the project area; and advancement of drill permitting during 2025 as the scale of this large system becomes apparent.
The 100%-owned Valiente project is in central eastern Peru, east of the city of Tingo Maria.
During 2021 Hannan staked and still holds 1,002 km2 of 100%-owned mining concessions at Valiente covering unexplored terrain for potential mineralized porphyry targets in central eastern Peru. The Valiente project has rapidly evolved from a greenfields prospect to a multi-prospect opportunity.
Hannan has achieved critical permitting milestones at the Belen project in Peru. In November,2024, the company received the Declaracion de Impacto Ambiental (DIA) or environmental impact statement from Peru’s Ministry of Mines, which approved 40 drill platforms across 702 hectares. The company is awaiting an authorization for exploration permit before drilling is expected to commence at Belen in Q2 2025, while Hannan continues to unravel the large scale alkalic gold-copper mineral system at Previsto.