Hannan commences drilling at Kilmurry in Ireland
Hannan commences drilling at Kilmurry in
Ireland
VANCOUVER
,
Feb. 6, 2019
/CNW/ -
Hannan Metals Limited
("Hannan" or the "Company")
(TSXV: HAN) (OTCPK: HANNF)
is pleased to announce that diamond drilling has commenced at
the Kilmurry project within the 100% owned Clare zinc project in
Ireland
after receipt of final drill
permissions from the relevant authorities.
Photo 1: Drill rig sited over drill hole 11-3643-10 and ready to be extended by 200-250 metres to
test the mineralized target zone at the base of the Waulsortian limestone. A lovely winter’s day in
Ireland! (CNW Group/Hannan Metals Ltd.)
Key Points:
Drilling has commenced at the Kilmurry zinc prospect, located 9 kilometres south of Hannan's
Kilbricken zinc-lead-silver resource in
Co. Clare, Ireland
;
Hannan's recent seismic surveys identified the north-dipping Kilmurry synsedimentary relay fault
system which exceeds 15 kilometres in length and is up to 2 kilometres wide and demonstrates
one of the largest basin-scale displacements (>750 metres) mapped in
Ireland
(Figures 4 and
5);
The drill program will extend an existing drill hole (11-3643-10) by 200-250 metres to test the
mineralization target zone at the base of the Waulsortian limestone (Figure 3) within the hanging
wall of the Kilmurry fault. This hole was terminated short of target at 754 metres by earlier
explorers;
Hole 11-3643-10 showed dissolution textures, alteration and mineralization in the upper
sequence of the hanging wall, including
0.3m
@ 56% zinc + lead at
166m
depth and extensive
development of fault scarp debris material suggesting the Kilmurry fault was active during
sedimentation. The drill hole ended with 3 to 4 times background levels of zinc (>60 ppm) in
highly altered limestone.
Michael Hudson
, Chairman and CEO states,
"
The
Kilmurry area is highly prospective and
demonstrates all the right ingredients for a major base metal system where the scale of the
untested fault and host rock point to the potential for a transformative discovery. This target is a
direct outcome of the regional target generation work, driven by the seismic surveys completed by
Hannan over the last year."
Drilling has now commenced at Kilmurry, located 9 kilometres south of Hannan's Kilbricken resource
(Figure 1). Kilmurry is a seismic and detailed gravity defined structural and stratigraphic target
mapped by Hannan over greater than 15 kilometres strike and 1-2 kilometres width (Figure 3). The
mineralized position of the hanging wall of the fault, that is an equivalent setting to all zinc
mineralization in the Irish Midlands, has never been drill tested.
Several geological factors make the fault zone a prospective target for zinc-lead-silver
mineralization. Firstly, the entire fault zone was active during the formation of the Waulsortian
limestone. The individual fault segments are closely spaced and have significant vertical offset, with
the maximum mapped offset being one of the largest basin-scale displacements (>750 metres)
mapped in
Ireland
. Closely spaced faults and significant fault offset along a relay fault system have a
direct correlation with rock deformation and mineralizing fluid path ways in Irish-style zinc-lead-silver
deposits.
Furthermore, historic drilling has identified significant alteration and mineralization immediately south
in the footwall of the Kilmurry fault zone. Four historic drill holes that have tested the hanging wall of
the fault zone never reached the target depth. The holes were drilled over 3.5 kilometre strike and all
encountered geological evidence to support the seismic interpretation of the fault zone. Drill hole 11-
3643-10 is the most significant and it intersected structurally hosted massive sulphides at
166m
depth (
0.3m
@ 56% zinc + lead). The drill extension of 11-3643-10 being undertaken by Hannan is
the first test of the fault zone (Figure 2). If the extension of 11-3643-10 is successful, shallower
ramp zones linking the fault segments will be targeted at Kilmurry.
About Hannan Metals Limited (TSX.V:HAN)
(OTCPK: HANNF)
Hannan Metals Limited
is a base metal project generation company. It has 100% ownership of the
County Clare Zn-Pb-Ag project in
Ireland
, which consists of 9 prospecting licenses for 35,444
hectares and has recently filed mineral claim applications for 14,800 hectares within the San Martin
Province in
Peru
searching for copper and silver.
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
Forward Looking Statements
Certain information set forth in this news release contains "forward-looking statements", and
"forward- looking information" under applicable securities laws. Except for statements of historical
fact, certain information contained herein constitutes forward-looking statements, which include the
Company'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 future 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 outcome of results, the granting of the claim applications in
Peru
, community
relations, liabilities inherent in mine development and production, geological risks, the financial
markets generally, and the ability of the Company to raise additional 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 differ materially from those anticipated in such statements.
The Company undertakes no obligation 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.
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 release.
Figure 1 - Overview of Hannan's 35,444 hectare Claire Zn-Pb-Ag Project and the location of the
Kilmurry target. (CNW Group/Hannan Metals Ltd.)
Figure 2 - Plan view of the Kilmurry fault zone and individual fault segments at target depth. The fault
zone is 1-2 km wide and mapped for >15 km strike. Several drill targets have been identified
internally within the fault zone. Hannan is planning to extend drill hole 11-3643-10 from 754m to
950m depth to test the base of the Waulsortian limestone for massive sulphide Zn-Pb-Ag
mineralization. (CNW Group/Hannan Metals Ltd.)
Figure 3 - Geological cross sectional interpretation along seismic line 17HAN02 of the Kilmurry fault
zone based on drilling, seismic and gravity data. The cross sction highlights the Kilmurry fault zone
and drill targets developing at the base of the Waulsortian limestone. (CNW Group/Hannan Metals
Ltd.)
SOURCE
Hannan Metals Ltd.
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For further information:
www.hannanmetals.com, 1305 - 1090 West Georgia St., Vancouver, BC,
V6E 3V7, Mariana Bermudez, Corporate Secretary, +1 (604) 685 9316, [email protected]
CO: Hannan Metals Ltd.
CNW 07:00e 06-FEB-19