Hannan Receives Dia Approval FOR Maiden Drill Program at San Martin IN PERU
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
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NEWS RELEASE JANUARY 25, 2024
HANNAN RECEIVES DIA APPROVAL FOR MAIDEN DRILL PROGRAM AT SAN MARTIN IN PERU
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased announce that it has received its environmental permit, the Declaracion de Impacto
Ambiental (“DIA”), from the Ministry of Mines in Peru. The DIA is the primary environmental certification
required to allow low impact mineral exploration programs, that includes drilling programs, to proceed at the
San Martin copper-silver project in Peru.
Highlights:
The area for the DIA allows for 40 drill platforms and covers an area approximately 9 km long and 3
km wide (2,700 hectares) at Tabalosos East (Figures 1 and 2);
Drilling tenders are being sought now. Next steps are to apply for the Authorization to Initiate activities
from the DGM (General Directorate of Mining from the Ministry of Mines), a process that takes 1 to 3
months, and then the Water Use Permit (1 month duration) from the Peru National Water Authority
(“ANA”) which should see drill rigs on the ground in San Martin at the start of Q2 2024. As no
indigenous population exists within the DIA area, Prior Consultation (“Consulta Previa”) does not apply;
The copper-silver mineralized shale drill target at San Martin averages 0.9 m thickness at 1.9 % copper
and 27 g/t silver from 105 surface channels and has been further defined by soil sampling and LiDAR
over an area of 9- km-long by 1-km-wide area that is interpreted to extend with shallow dips to the
west for between 2-4 km, with a target depth ranging from surface to 500 m.
Michael Hudson, CEO, states “The approval of our DIA is a watershed moment for Hannan and our Joint
Venture Partners, JOGMEC (Japan Organization for Metals and Energy Security), for exploration in the foreland
basins and back arc of the Andes in Peru.
“Our maiden low impact drill program will consist of up to 40 drill platforms to thoroughly test the extensive
copper-shale horizon with holes up to 500 m depth. The DIA allows for hand-carried and helicopter-supported
drill testing of its San Martin copp er-silver project. We are thankful for all the detailed work of our employees
and external experts and the amazingly strong support of the local communities during the public participation
meetings, as well as the advice from various government agencies.
“We now can apply for the authorization to initiate activities, a process that typically takes one to three months
followed by the water use permit, which should see us drilling early in Q2 2024.
“The drill program will provide the opportunity to outline the scale and grade of the extensive copper-silver-rich
shale horizon into the third dimension after mapping continuity of the copper -silver mineralized shale over a
9 km x 1 km surface area at San Martin.”
San Martin Copper-Silver Project
Sediment-hosted stratiform copper -silver deposits are among the two most important copper sources in the
world, the other being copper porphyries. They are also a major producer of silver . KGHM Polska Miedz’s
(“KGHM”) three copper-silver sediment-hosted mines in Poland (the “Kupferschiefer”) were the leading silver
producer in the world and seventh largest global copper miner in 2020. Quoted resources in 2019 for KGHM
were 1,518 Mt @ 1.86% copper and 55 g/t silver from a mineralized zone that averages 0.4 m to 5.5 m thickness.
To provide context, Hannan’s widths and grade (0.9 m @ 1.9 % copper and 2 7 g/t silver) from 105 channel
surface samples reported at San Martin (lower cut 0.5% copper), within an area about 9 km long and 1 km
wide, compare with those found during the initial modern-day drill discovery of the Kupferschiefer copper-silver
deposits (Figure 2).
• In 1957 the discovery drillhole (Sieroszowice IG 1) intersected 2.0 m @ 1.5% copper at the depth of 657
m.
• In 1959 the Lubin-Sieroszowice deposit, based on the results from 24 drillholes contained 1,365 Mt @
1.4% copper and 26 g/t silver in indicated resources, with a thickness ranging between 0.2 –13.1 m in
an area about 28 km long and 6 km wide between 400 m and 1,000 m depth.
Hannan’s sampling, to date, has been confined to surface channel sampling, although mineralization at Tabalosos
East is interpreted to extend with shallow dips to the west for between 2-4 km, with a target depth ranging from
surface to 500 m (Figure 3).
Technical Background
All samples were collected by Hannan geologists. Samples 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 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 preformed on 0.25g of the sample to quantitatively
dissolve most geological materials. Analysis is via ICP -MS. Channel samples are considered representative of the in -situ
mineralization samples and sample widths quoted approximate the true width o f mineralization, while grab samples are
selective by nature and are unlikely to represent average grades on the property. Gold was analyzed by ALS in Lima using
a standard sample preparation and 25g fire assay sample charge.
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 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]
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