Hannan End of Year Update
Hannan End of Year Update
VANCOUVER
,
Dec. 24, 2018
/CNW/ -
Hannan Metals Limited
("Hannan" or the "Company")
(TSXV: HAN) (OTCPK: HANNF)
is pleased to provide an end of year update on activities.
Key Points:
Hannan holds a regionally significant zinc-lead-silver exploration project in
County Clare
in the
south-west of
Ireland
where
US$30M
of investment over the last 9 years has been spent
searching for new zinc deposits;
Hannan's ground-breaking seismic work has identified prospective drill targets to expand known
and discover new mineralized areas within the licence block. A highlight is the Kilmurry target,
considered one of the largest basin-scale fault displacements mapped in
Ireland
where drilling
will commence during Q1 2019 when drill permitting is complete;
Hannan has identified an opportunity to diversify its base metal portfolio and has staked claim
applications for copper in
Peru
.
Michael Hudson
, Chairman and CEO states,
"Hannan's exploration strategy is to open up new
exploration search spaces for base metals. For example, the Company is a leading proponent of
seismic technology that has unlocked the potential for new zinc deposits below 200 metres depth
in
Ireland
. Along similar lines, the Company is now looking to augment and diversify its portfolio
into new exploration areas for copper in
Peru
."
Hannan holds a regionally significant zinc-lead-silver exploration project in
County Clare
in the south-
west of
Ireland
. This 35,444 hectare project is one of the most mineralized in
Ireland
and has seen
US$30M
of investment from Hannan and earlier exploration companies over the last 9 years. During
this decade the mineral industry in
Ireland
has been transformed by seismic technology. Hannan's
seismic work has mapped more than 200 square kilometres of host rock. More than 100 square
kilometres remains untested. The opportunity to expand known and discover new mineralized areas
within the Clare Project is considered high. The highlight from Hannan's 2018 seismic survey is the
definition of the
Kilmurry target
, considered one of the largest basin-scale fault displacements (>750
metres) mapped in Ireland. These faults are known elsewhere to form the conduits for base metal
mineralization. Drilling to test Kilmurry is anticipated to commence during Q1 2019 when drill
permitting is complete.
The Company has recently identified an opportunity to augment its property portfolio. Management
is of the view that diversification of Hannan's property portfolio is prudent and its looking to position
the Company as a global base metal project generator. A copper project was discovered in
Peru
where management has had significant prior experience. Mineral claim applications have been filed
for an area in
Northern Peru
covering approximately 14,800 hectares. Based on limited field work
conducted to date, management believes the
Peru
property is of merit and is considering further
work in 2019. At this time the claim applications are in process and have not been granted.
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 licences for 35,444
hectares and has recently filed mineral claim applications in
Peru
searching for copper.
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 planned drill
programs, the granting of the claim applications in
Peru
, 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.
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 08:00e 24-DEC-18