Hannan Copper-GOLD Soil Sampling Defines Porphyry Target at Belen, PERU
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE APRIL 04, 2022
HANNAN COPPER-GOLD SOIL SAMPLING DEFINES PORPHYRY TARGET AT BELEN, PERU
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased to provide an update on exploration programs at the Belen project area at the 100%-owned
Valiente copper-gold porphyry project in central Peru (Figures 1 and 2).
Highlights:
Follow-up reconnaissance ridge-top soil sampling program at Belen has identified two la rge coherent
copper and gold soil anomalies that extend along a 10-km trend that remains open in multiple
directions. Soil geochemistry shows a transition from a larger copper-gold-molybdenum porphyry-style
signature associated with Miocene-age intrusions to a peripheral gold+antimony+tellurium epithermal
signature typically found in a shallow level epithermal system above a porphyry intrusion;
All copper and gold soil anomalies remain open to multiple directions and further sampling is ongoing
to delineate the anomalies. Hannan will expand the current ridge-top soil program to cover the entire
10-km trend. Further results are expected shortly.
Michael Hudson, CEO, states “The Belen copper-gold porphyry tar get is developing strongly with
analytical results continuing to demonstrate robust soil geochemistry over large areas, suggesting
a s s o c i a t i o n w i t h a z o n e d p o r p h y r y a n d e p i t h e r m a l m i n e r a l s y s t e m. D u e t o t h e d e n s e j u n g l e
v e g e t a t i o n a n d t h i n s o i l v e n e e r , o u t c r o p s a r e r a r e . T h e l o w i m pact surface exploration by the
Company has proven very successful in outlining prospective mineralized areas in a highly leached
environment. Field and social teams are actively engaged in th e area with the target shaping up
rapidly to allow drill permitting to commence shortly.”
A total of 149 soil samples taken to date show a transition fro m a copper-gold-molybdenum porphyry-style
geochemical signature. The anomaly up to 1,461 ppm copper (Figures 3 and 5) extends over 1.6 km by 0.8 km
and is associated with a Miocene-age cluster of monzonitic to d ioritic intrusions. One outcrop channel sample
assayed 1m @ 0.31 g/t gold and 380 ppm copper, hosted within a hornblende bearing feldspar porphyry with
milky quartz-iron oxide veinlets. An outcropping intrusion in the vicinity was dated at 15.4Ma. Sub-crops in soil
sample pits are strongly oxidized and leached (Figure 3 and 4) with associated silver, zinc, potassium and
vanadium.
A peripheral gold-antimony-tellurium soil anomaly up to 85 ppb gold extends 2 km by 0.4 km (Figures 3 and 5)
around the porphyry-style geochemical signature. This gold-anti mony-tellurium association could be
representative of a shallow level epithermal system above a por phyry intrusion. There are also indications of
gold-copper-zinc anomalous areas that may reflect skarn-style m ineralization also common in porphyry
environments. Artisanal gold workings have been located downstr eam from the anomalous soil sampling area
and Hannan geologists have panned gold from stream sediment samples.
Hannan will expand the current ridge-top soil program to cover the entire 10-km intrusive trend with a systematic
grid sampling program followed by trench sampling. Stream sediment samples will also be collected from creeks
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to rapidly determine the prospectivity of different areas. Hann an also plans to survey an extensive airborne
magnetic survey over the Valiente project area. Field and socia l teams are actively engaged in the area, with
Hannan’s policy to undertake exploration activities only within areas where full support from local stakeholders
exists.
Technical Background
All mineralized samples were collected by Hannan geologists. Sa mples 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, riffle split off 250g, 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 represen tative 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.
All soil samples were collected b y Hannan geologists using an i n-house protocol for soil sampling in jungle areas. The
samples were subsequently analyzed with a portable XRF deployin g a protocol developed by Hannan for the San Martin
project. The method is designed to minimize risk of contaminat ion and ground disturbance. In most cases the sample
media is the “B-horizon” of the soil profile. Only 100g of samp le material is collected from each site. From the soil sample
a pellet is being produced which is dried and analyzed by a por table XRF (pXRF). Certified reference material, blanks and
field duplicates are routinely added to monitor the quality of the pXRF data. Gold was analyzed by ALS in Lima using a
standard sample preparation and 50g fire assay sample charge.
About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and exploration co mpany developing sustainable resources of metal needed
to meet the transition to a low carbon economy. Over the last d ecade, the team behind Hannan has forged a long and
successful record of discovering, financing, and advancing mine ral projects in Europe and Peru. Hannan is a top ten in-
country explorer by 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]
Forward Looking Statements. Certain disclosure contained in this news release may constitut e forward-looking information or forward-looking
statements, within the meaning o f Canadian securities laws. The se statements may relate to this news release and other matters identified in the
Company's public filings. In making the forward-looking stateme nts the Company has applied certain factors and assumptions tha t are based on the
Company's current beliefs as well as assumptions made by and in formation currently available to the Company. These statements address future events
and conditions and, as such, involve known and unknown risks, u ncertainties and other factors which may cause the actual resul ts, performance or
achievements to be materially different from any future results , performance or achievements expressed or implied by the state ments. 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 vir uses and infectious diseases, including the novel COVID-19 viru s; risks related to negative
publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community rela tions. Readers are
cautioned not to place undue reliance on forward-looking statem ents. 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 Pr ovider (as that term is defined in the policies of the TSX Vent ure Exchange) accepts
responsibility for the adequacy or accuracy of this news.
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