Hannan Identifies Outcropping Cu-Au Porphyry Mineralization over 1600M Long and 800M Wide Area at the 100% Owned Valiente Project
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE JUNE 13, 2022
HANNAN IDENTIFIES OUTCROPPING CU-AU PORPHYRY MINERALIZATION OVER 1600M LONG
AND 800M WIDE AREA AT THE 100% OWNED VALIENTE PROJECT
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased to provide an update at the Belen copper-gold porphyry project at the 100%-owned Valiente
in central Peru (Figures 1 and 2).
The Valiente Project, located 19 km east from the township of Tingo Maria in central Peru, defines a previously
unknown Miocene-age porphyry-epithermal copper-gold mineralized belt within a 140 km by 50 km area in Peru
where Hannan’s exploration team has identified at least seven i ntrusion related porphyry/epithermal/skarn
targets, of which Belen is the most advanced and described here in more detail.
Highlights:
Detailed field work at the Belen prospect, which represents a small proportion (4%) of Hannan’s total
landholding at the Valiente project, has consisted of infill soil sampling over a 1,600 m by 800 m area
and coincident identification of an outcropping leached copper-gold porphyry with well-
developed quartz veining with evidence for an enriched chalcocite blanket at the Southern
Porphyry Copper-Gold Target (Figures 2-7).
A gold-bearing epithermal target area identified by large gold mineralized boulders of quartz-pyrite
and iron oxides as well as stron gly gold anomalous soil samples has been discovered 2.5 km NW of
the Southern Porphyry Target, where a systematic 100 m x 100 m soil sampling program has identified
two strong gold anomalous trends that extend for 1800 m and 970 m respectively.
Michael Hudson, CEO, states “Hannan’s has located a new Miocene-age copper-gold mineral camp
within a 140 km by 50 km area at Valiente. At Belen we see exte nsive and systematic soil sample
anomalies over multiple kilometres. What is most encouraging is the presence of an outcropping
leached copper-gold porphyry with well-developed porphyry alteration and quartz veining at upper
topographic levels with evidence of an enriched chalcocite blanket within lower lying creeks. This
is the first bone fide bedrock find at the Valiente project. We look forward to more detailed field
w o r k i n c l u d i n g c h a n n e l s a m p l i n g a t B e l e n a n d w o r k i n g u p a d j a c e nt porphyry targets. The
Company is also initiating work to commence drill permitting.”
A linked porphyry copper-gold and epithermal gold mineral syste m has been identified at Belen within a 9 km
by 2 km trend (Figure 2-7). Detailed field work at the Belen prospect, which represents a small proportion (4%)
of Hannan’s total landholding at the Valiente project, has infilled soil sampling trends and identified a leached
copper-gold porphyry with well-developed quartz veining at uppe r topographic levels with
evidence for an enriched chalcoc ite blanket sampled over 1 km w ithin lower lying creeks at the
Southern Copper-Gold Porphyry Target. A gold-bearing epitherma l target area identified by large gold
mineralized boulders of quartz-pyrite and iron oxides as well as strongly gold anomalous soil samples has been
discovered 2.5 km NW of the Southern Porphyry Target. Work ove r the last month described in further detail
below:
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Southern Copper-Gold Porphyry Target
This target concists of a highly anomalous Cu-Au-Mo soil anomaly, initially reported here, over a 1,600 m by 800
m area above a mapped and radiometrically dated Miocene-age porphyry intrusion. Systematic soil sampling has
b e en c o m p le t ed . A t o ta l o f 4 9 4 s a m p l e s h ave b ee n t a ken a c ro s s the porphyry target covering an area of
approximately 3.3 km x 1.7 km at sample spacing of 100 m x 100 m. The results show strong correlation with
several elements including Cu-Au -Mo-K-V. The core of the anomal y extends over 1600m and 800m width and
have consistent values > 500 ppm Cu with Cu values up to 1461 p pm Cu and Mo up to 32 ppm. (Figures 2-4).
Gold is locally anomalous within but also occur peripheral to t he main copper anomaly. The main “offset” gold
target is marked by a 1000 m long up to 300 m wide gold anomaly . Gold assays have been received for 331
samples and values range from <0.001 ppm to 0.185 ppm, average 0.0162 g/t and 9 samples have values >
0.1 ppm (100ppb) in soil (Figures 2-4).
The host rock is a grey to greenish porphyritic intrusion with hornblende and feldspar phenocrysts that is
overprinted by strong weathering. Observations of hydrothermal alteration are emerging from systematic
mapping and Terraspec analysis and so far, areas of propylitic, phyllic, intermediate argillic alteration, silicification
and secondary biotite have been observed. Geological and altera tion vectors such as pyrite and chalcopyrite
ratios from surface rock observa tions suggest that the minerali zation represents the upper part of a porphyry
intrusion. Both more intense hypogene copper mineralization can be expected at depth and zones of supergene
enrichment. Sampling below the soils has uncovered:
A strongly leached copper-gold porphyry, with an extensive zone of enrichment has been discovered
beneath anomalous soil sampling that cover an area of 1,600m by 800m area.
In the leached zone secondary copper is evident within manganes e oxides (neotocite) and red
iron oxides (hematite) in outcrops and boulders with values exceeding 0.1 % Cu (Figure 5).
Assay results from 19 panel samples have been received to date with an average of 333 ppm Cu
and 0.024 g/t Au over an average surface area of 1.9m2. The size of the panels ranges from 0.24-
4m2 and with Cu ranging between 104-1070 ppm and gold from <0.01 to 0.313 g/t. The copper
anomaly and rock samples are shown in Figure 2-4 and selected rock photos in figure 5-7.
Both M (magnetite-bearing), B (quartz/biotite) and A-veins (sac charoidal quartz/K-feldspar) have been
observed in outcrop and quartz veins have been mapped with encouraging densities of approximately 6
veins per metre (assays pending) with associated stockworking.
Supergene enrichment has been observed in the lowest topographic levels in creeks where chalcocite is
seen to replace chalcopyrite wit hin samples separated by 1 km. Assays from these zones are pending.
(Figure 6).
1. Central Epithermal gold target
This consists of a gold-bearing epithermal target identified by large gold mineralized boulders of quartz-pyrite
and iron oxides as well as strongly gold anomalous soil samples has been discovered 2.5 km NW of the Southern
Porphyry Target (initially reported here). Work over the last month has included:
Systematic 100 m x 100 m soil sampling program. Two strong gold anomalous trends that extend for
1800 m and 970 m respectively have been identified. Assays have been received to date from 376
samples covering an area of 2 km x 1.7 km. Values range from <0 .001 ppm to 0.094 ppm, average
0.0056 g/t in soil. The gold anomaly correlates very well with several elements including arsenic. (Figures
2 and 4).
Spatially the gold anomalies correlate with a mapped Andean-age thrust fault and remains open in both
to the north and south (Figures 2 and 4)
Soil anomalies are coincident with gold found in quartz-iron ox ide boulders (reported here). To date 19
boulders >0.1 ppm Au has been sampled over a trend of 1.6 km that is parallel to the main gold anomaly.
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A total 43 rock samples from boulders average of 0.48 g/t Au, 6 g/t Te and range from below detection
limit to 2.69 g/t Au and <DL to 59 g/t Te.
Two gold mineralized outcrops ha ve also been located 270m apart . The mineralization is hosted by 5-
30cm wide quartz vein in an intrusive host rock with magnetite and iron oxides. The mineralization is
correlated with high values of copper and molybdenum. The outcrops assayed:
o Grab sample: 1.17 g/t Au, 0.67 % Cu and 33.4 ppm Mo.
o Channel sample: 30 cm @ 3.21 g/t Ag, 0.57 % Cu and 22 ppm Mo (reported here)
At Belen, Hannan plans to continue systematic soil sampling to cover the entire 10-km intrusive trend and
detailed trench sampling. Hannan also plans to survey an extensive airborne magnetic survey over the Valiente
project area. Field and social teams are actively engaged in th e area, with Hannan’s policy to
undertake exploration activities only within areas where full support from local stakeholders exists.
The Valiente project is located further east than most of the c onventional Andean porphyry settings and shows
regional similarities to deposits such as the large Bajo de Alu mbrera copper-gold porphyry in Argentina. It is
interpreted that Valiente was formed in a tectonically favourab le area associated with an arc-oblique wrench
fault system, that may have aided the ascent of oceanic arc-related magmas into the transfer zone so far inboard
from the magmatic arc.
Technical Background
All samples were collected by Hannan geologists. Samples were t ransported to ALS in Lima via third party services using
traceable parcels. At the laboratory, rock samples were prepa red and analyzed by standard methods. The sample
preparation involved crushing 70% to less than 2mm, riffle spli t off 250g, pulverize split to better than 85% passing 75
microns. The crushers and pulverizes were cleaned with barren m aterial 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 (“pXRF”) deploying a protocol developed by Hannan for the San
Martin project. The method is designed to minimize risk of contamination 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 produced which is dri ed and analyzed by a pXRF. Cer tified reference material, blanks and field duplicates are
routinely added to monitor the quality of the pXRF data and 10% of all samples are submitted to a ALS in Lima to validate
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
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