Hannan Announces Restart of Fieldwork IN PERU
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE October 26, 2020
HANNAN ANNOUNCES RESTART OF FIELDWORK IN PERU
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) announces the restart of field activities at its 100% owned San Martin copper-silver project in Peru.
Highlights:
Field and social teams will mobilize to the San Martin project in early November to restart field activities;
and
Initial work will focus in the Taba losos area where systematic geoc hemical sampling and mapping to
define outcropping mineralized zones will be undertaken.
Mr Michael Hudson, CEO, states: “The San Martin district has suffered during the pandemic and has only recently
taken steps to reopen. It is now considered appropriate for Hannan to re-start its field activities over the coming
weeks. We will comply with all govern ment COVID-safe regulations, wh ich amongst other things require
Company staff to have valid medical exams and negative COVID-19 test certificates prior to returning to the
project. During the lockdown we ha ve been working behind the scenes, staking more ground, acquiring data,
discussing potential partnerships and conducting remote surveys. We look forward to working with local
stakeholders to restart field activities and continue further discoveries within the new, basin-scale copper-silver
system we have started to define in the San Martin region.”
Initially, social teams will enter areas to discuss and permit exploration activities. Technical field teams will then
conduct systematic geochemical sampling and mapping to define outcropping mineralized zones. Work during
November will focus on the Tabalosos area. Stream sediment sampling over a larger area will also commence.
At Tabalosos, previous work by Hannan has defined two target styles:
A stratabound position in the upper levels of the Sarayaquillo Formation, defined by the presence of
debris organic material that hosts high-grade copper-s ilver mineralization. This zone is correlated over
a 30-kilometre-long trend and over 5 kilometres in width across the Tabalosos project area and is the
same mineralized stratigraphic level identified in outcrop at Sacanche, located 80 kilometres to the south;
A structurally controlled sandstone hosted copper-silver target has been identified in the southern part
of the project. This area is 7-kilo metres-long and up to 5 kilometres wide in Tabalosos. The target is
analogous with the base metal gossans discovered earlier this year at Sacanche South, located 80 km to
the south.
Within the 30 kilometre trend four key zones have been defined over a 5 kilometre cross strike width:
Three zones over a 3.5 kilometre strike, where 16 grab samples from boulders (>0.1% copper) averaged
2.7% copper and 29 g/t silver and ranged from 0.1-8.3% copper and 0.2-109 g/t silver. Reported 17
January 2019.
A zone with 3 grab samples from boulders (>0.1% copper) with two different lithologies, averaged 3.3%
copper and 12 g/t silver and ranged from 0.2-6.9% copper and 2.2-27 g/t silver. Reported 17 January
2019.
Three zones over a 5 kilometre strike, where 6 grab samples from boulders (>0.1% copper) averaged
4.2% copper and 17 g/t silver and ranged from 0.8-11.5% copper and 8-28 g/t silver. Reported 03
September 2019.
2
One zone where quick reconnaissance sampling identified a small shale-host boulder that assayed 12.3%
copper and 70 g/t silver. Reported 03 September 2019.
Grab samples are selective by nature and are unlikely to represent average grades on the property.
The year has been challenging and uncertain for the wo rld as we all deal with the COVID-19 pandemic. These
challenges have been acutely felt by the communities where we work in Peru. Hannan are focused on doing
the right thing and our number one priority is the health, safety and well-being of our employees, stakeholders
and communities. We now look forward to the opportunity to return to the field, and we will continue to support
the San Martin communities while working to derisk an d advance our knowledge of the vast mineral system
emerging in the region.
About Hannan Metals Limited (TSX.V:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and exploration company developing sustainable and ethical 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.
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]
Forward Looking Statements
Certain information set forth in this news release contains “for ward-looking statements”, and “forward- looking information” un der applicable securities laws. Except for
statements of historical fact, certain information contained he rein constitutes forward-looking statements, which include the C ompany’s expectations regarding future
performance based on current results, expected cash costs based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs, which may
prove to be incorrect. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily
involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in fu ture periods to differ materially from any
projects of future performance or results expressed or implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: The Company’s
expectations regarding timing to complete field work and outcom e of results, the granting of the claim applications in Peru, th e potential impact of epidemics, pandemics or
other public health crises, including the current outbreak of th e novel coronavirus known as COVID-19 on the Company’s business, community relations, liabilities inherent in
mine development and production, geological risks, the financial markets generally, and the ability of the Company to raise add itional capital to fund future operations. There
can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could diffe r materially from those anticipated in such
statements. The Company undertakes no obligati on to update forward-looking statements if circumstances or management’s estimates or opinions should change except as
required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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