Hannan Extends High-Grade GOLD Mineralization at Previsto IN PERU
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE APRIL 07, 2025
HANNAN EXTENDS HIGH-GRADE GOLD MINERALIZATION AT PREVISTO IN PERU
Vancouver, Canada -- Hannan Metals Limited's ("Hannan" or the "Company") (TSXV: HAN) (OTCPK: HANNF)
is pleased to report expanded high -grade gold mineralization at its 100%- owned Previsto alkaline gold project in Peru
(Figure 1).
Recent channel sampling has extended the known alkalic-type epithermal gold mineralization with multiple new high-grade
results. The results, which remain open in all directions, are l ocated at the northern margin of a 4 km by 4 km soil gold
anomaly, further indicating the potential for a major new mineral district (Figure 2).
Highlights:
Gold Mineralization Extended at Previsto: Footprint now covers an area of 200 m × 130 m (Figures 3 and
4):
o New results include gold mineralisation found by extending an existing trench 66.1 m to the south:
Entire channel now assays 135.2 m @ 1.3 g/t Au, 9 g/t Ag, 7 g/t Te (uncut)
Encompasses 69.1 m @ 2.4 g/t Au and 13 g/t Ag (CH15486 previously reported and uncut) and
extension of 66.1 m @ 0.2 g/t Au, 5 g/t Ag and 4 g/t Te (CH 15844 uncut) to the south.
o New h igh-grade mineralization has been extended in two separate channels located 20 m north of
channels reported above (0.5 g/t Au cut lower):
11.3 m @ 3.7 g/t Au,18 g/t Ag and 16 g/t Te
• including 1.7 m @ 23.4 g/t Au (channel 16436):
2.3 m @ 18.8 g/t Au and 66 g/t Ag (channel 16441)
New Outcropping Copper mineralization identified located 35 meters from gold mineralized channels
21 m @ 0.15% Cu, 1 g/t Ag, and 9 ppm Mo, (channel CH15830)
Expanded Field Team: Six geologists now actively conducting mapping and sampling in the area
Large System : The channel sampled gold sits within a larger 5 km x 5 km epithermal -porphyry cluster,
positioned on the northern edge of a 4 km x 4 km gold -in-soil anomaly (>0.1 g/t Au). This suggests significant
potential for a large-scale mineralized system.
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) and drilling scheduled for Q2 2025, the company
is methodically derisking multiple targets across this emerging mineral belt.
Michael Hudson, CEO, states: "Our follow-up work at Previsto continues to deliver exceptional results for a grassroots
discovery, with mineralization in an original channel now extended over 135 m and new identification of more high-grade
channels including 1.7 m @ 23.4 g/t Au and 2.3 m @ 18.8 g/t Au . This area represents a potentially significant new
gold district in Peru, with characteristics suggesting both high-grade potential and substantial scale.
"The expanded mineralized footprint now covers 200 m × 130 m and remains open in all directions. Additionally, the
discovery of copper mineralization just 20 meters from our gold channels further demonstrates the potential of this system.
"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 drill permitting system, we look forward to drilling at the Belen in Q2 2025,
located 20 km to the SW of Previsto, while we derisk this new gold find at Previsto to achieve staged drill programs across
the entire 150 km long Valiente gold-copper project."
Geological Setting
Further gold mineralization has been identified during follow -up of high- grade channel samples samples located at the
northern margin of a 4 km by 4 km soil gold anomaly >0.1 g/t Au, with most of the anomalous zone remaining untested
(Figure 2).
The gold mineralization was discovered during follow- up of anomalous reconnaissance high- grade rock samples. The
channels are located at the northern margin of a 4 km by 4 km soil gold anomaly >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.
High-Grade Gold Mineralization Extended at Previsto now covers an area of 200 m × 130 m (Figures 3 and 4):
o New results include extension of gold mineralisation by 66.1 m 0.2 g/t Au, 5 g/t Ag and 4 g/t Te south from
original channel sampling:
Entire channel now assays 135.2 m @ 1.3 g/t Au, 9 g/t Ag, 7 g/t Te (uncut)
• Encompasses previously reported 69.1 m @ 2.4 g/t Au and 13 g/t Ag (CH15486 previously
reported and uncut) and extensions of 66.1 m @ 0.2 g/t Au, 5 g/t Ag and 4 g/t Te (CH
15844 uncut) and includes a nd high- grade mineralization (previously reported)
demonstrated by:
o 3.0 m @ 12.7 g/t Au, 49 g/t Ag, 43 g/t Te
o 3.0 m @ 11.2 g/t Au, 53 g/t Ag, 36 g/t Te
o 0.7 m @ 16.1 g/t Au, 60 g/t Ag, 48 g/t Te
o New high-grade mineralization hosted by pervasive roscoelite alteration has been extended in two separate
channels located 20 m north of channels above (0.5 g/t Au cut lower):
11.3 m @ 3.7 g/t Au,18 g/t Ag and 16 g/t Te including 1.7 m @ 23.4 g/t Au (channel 16436):
2.3 m @ 18.8 g/t Au and 66 g/t Ag (channel 16441)
New Outcropping Copper mineralization has been identified located 20 m from the gold mineralized channels. The sp atial
distribution of gold and copper mineralization at Previsto based on channel sampling results suggests a vertical zonation
pattern (Figure 3). G old-silver-tellurium mineralization predominantly occurs in the upper elevation zones, while copper
mineralization and associated anomalies are concentrated at lower elevations. Better leached results in the copper zone
include:
21 m @ 0.15% Cu, 1 g/t Ag, and 9 ppm Mo, (channel CH15830)
A Previsto, the host rock comprises a locally brecciated, calcareous K-feldspar porphyry of foid syenitic composition, locally
containing large xenoliths of sedimentary rocks. Higher grade g old mineralization is related to pervasive fine roscoelite
(vanadium-rich potassic mica) and fine grey quartz veining with pyrite, both as veinlets and stock work. Manganese oxides
are commonly replacing vein and breccia filling suggesting that the unweathered mineralization was associated with
rhodochrosite, a mangan ese carbonate mineral commonly associated with low sulfidation epithermal deposits.
Mineralization consists of 1% disseminated pyrite with trace chalcopyrite, pyrite veinlets, and roscoelite veinlets, as well as
fine jarosite veinlets likely after pyrite. The identification of a 1.3-metre-wide zone containing crystal-lined irregular cavities
indicates that the intrusive body may be minimally eroded.
The outcropping mineralization is weathered, which complicates field observations, and results from detailed petrographic
and spectral studies are pending. Locally, a roscoelite-dominated foliated zone hosts the highest grades. Fine free gold can
be observed in some hand sample with a hand lens or microscope. The current interpretation suggests the gold
mineralization may be controlled by late strike-slip faults with horizontal movement creating extensional structures within
a compressional regime, focusing gold mineralization.
Emerging Clustered Epithermal - Porphyry Copper-Gold System
Previsto is both an extremely large scale emerging alkalic -type epithermal gold and copper -gold porphyry system. Along
with the gold channels reported here, Hannan has also identified a 4 km x 4 km gold in soil anomaly that also is associated
with both:
Porphyry co pper mineralization located 1.3 km northwest from the gold mineralization where channel sample results
(previously reported) indicates consistent copper mineralization despite extensive leaching, suggesting potential for
higher grades in unweathered (hypogene) zones. Results from 768.7 m of channel sampling include:
o CH15447: 48.0 m @ 0.12% Cu
o CH15430: 107.0 m @ 0.09% Cu
o CH14555: 126.0 m @ 0.22% Cu
o CH15391: 192.0 m @ 0.17% Cu
At Previsto East, located 2.6 km east of the sampled gold mineralization reported here, a 1,800 m by 400 m 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).
Next Steps at Previsto
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
Implementation of further induced polarisation geophysical surveys over the project area
Advancement of drill permitting with collection of environmental and social data to support the application of a DIA
permit by Q3 2025.
Global Alkaline-Type Epithermal Gold Deposit Analogues
The gold mineralization at Previsto displays characteristics typical of alkalic-type epithermal gold systems, which are known
to form significant high-grade deposits globally. Notable examples include:
Porgera (Papua New Guinea): Regarded as one of the world's top ten producing gold mines with historic production
of 16 million ounces of gold and almost 3 million ounces of silver.
Cripple Creek (Colorado): The richest gold mine in Colorado with historic production >23 Moz Au.
Alkaline gold deposits are found in diverse geological settings, though they are typically linked to localized extensional
regimes associated with alkaline rocks. These extensional structures facilitate the interaction between meteoric waters and
deeper magmatic-hydrothermal fluids, leading to gold precipitation through fluid mixing. Their key characteristics include:
High-K calc-alkaline to alkaline igneous rocks, often as diatremes or intrusive complexes
Enrichment in elements like Ag, V, Te, Fe, F, K, Ba and Mo as well as high Au:Ag ratios
Complex structural controls with multiple mineralizing events and large vertical extent sometimes exceeding 1,000
m (Cripple Creek, Porgera)
Carbonate alteration and roscoelite (vanadium mica) as diagnostic features
About the Valiente Project
The 100% owned Valiente project is in central eastern Peru, east of the city of Tingo Maria (Figures 1 and 2). The area is
characterized by steep topography on the eastern flank of the Central Cordillera with elevations between 800 m and 2,000
m above sea level (a.s.l.). The project was discovered in 2021 during an extensive greenfields prospecting program initiated
by Hannan for back-arc porphyry copper-gold systems. The Company has been actively prospecting on the project since
2021 and has successfully gained social permits progressively in all areas of interest.
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.
Early surface prospecting discovered two outcropping copper-gold porphyry targets and one epithermal target at Belen (see
Press Release Feb 16, 2023). Porphyry discoveries quickly followed at Serrano Norte, Serrano and Pucacunga. The focus
more recently has been on Previsto. At Previsto and Belen, a district-scale porphyry cluster within an area of 25 km by 10
km, with eight porphyry and/or epithermal targets now identified in more detail with up to 10 earlier stage targets awaiting
further work.
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.
The company is executing a multi-year strategy to systematically explore and drill test its extensive land package in this
emerging Miocene-aged linked porphyry-epithermal mineral belt.
Technical Background
All samples were collected by Hannan geologists. Samples were transported to ALS in Lima via third party services using
trackable parcels and by company staff. At the laboratory, rock samples were prepared and analyzed by standard methods.
The sample preparation involved crushing 70% to less than 2 mm, riffle split off 250g, pulverize split to better than 85%
passing 75 microns. Samples were analyzed by method ME-MS61, a four-acid digest performed on 0.25g of the sample to
quantitatively dissolve most geological materials. Analysis is via ICP-MS. Gold was analyzed in rock and soils by ALS in Lima
using a standard sample preparation and 30g fire assay sample charge. Soil samples were analyzed by a portable XRF
(VANTA-VMR) using an inhouse protocol which includes routine use of CRM and field duplicates as well as 10% check
samples analyzed by ALS Lima.
Channel samples are considered representative of the in- situ mineralization samples. At this stage true widths of
mineralization are not known. Grab samples are selective by nature and are unlikely to represent average grades on the
property.
About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and exploration company developing sustainable 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. 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 prepared, reviewed, verified and approved the technical contents of 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 constitute forward -looking information or forward -looking
statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the
Company's public filings. In making the forward -looking statements the Company has applied certain factors and assumptions that are based on the
Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address f uture events
and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the act ual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the stat ements. 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 viruses and infectious diseases; risks related to negative publicity with respect to the Company
or the mining industry i n general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on
forward-looking statements. 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 Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts
responsibility for the adequacy or accuracy of this news.