Hannan Submits Declaracion de Impacto Ambiental (Dia) FOR the Valiente Project, PERU
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
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NEWS RELEASE JANUARY 30, 2024
HANNAN SUBMITS DECLARACION DE IMPACTO AMBIENTAL (DIA) FOR THE VALIENTE
PROJECT, PERU
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased to announce the complet ion and submission of its Declaracion de Impacto
Ambiental (“DIA”) or Environmental Impact Statement at its Valiente copper-gold porphyry project in Peru. The
DIA is the primary environmental certification required to allow low impact mineral exploration programs, that
includes drilling programs, to proceed in Peru.
Highlights:
The area for the DIA allows for 40 drill platforms and covers an area approximately 12 km long and 3
km wide (944.17 hectares and disturbance area of 1.74 hectares), at the Valiente project and covers
the Ricardo Herrera, Vista Alegre and Sortilegio prospects (Figures 1 and 2);
Hannan has discovered a new metallogenic province of Peru at the Valiente project, where Hannan is
targeting Miocene age porphyry copper -gold in a back-arc setting in Central Eastern Peru. The DIA
area represents a small proportion (4%) of Hannan’s total landholding at Valiente.
Michael Hudson, CEO, states “Coming on the back of our recent DIA approval at San Martin, the submission
of our DIA is another major milestone for Hannan and fits with our strategy of obtaining staggered drill permits
to see us drilling multiple targets in the back arc of Peru in our search for giant mineral systems.
“Once the DIA is approved, our maiden drill program at Valiente will consist of up to 40 drill platforms to initially
test the extensive porphyry copper-gold and epithermal gold mineral system for the first time. The permit will
enable us to drill all three prospects outlined in more detail below, Ricardo Herrera, Vista Alegre and Sortilegio.
We are thankful for all the detailed work of our employees and external experts and the support of the local
communities during the public participation meetings, as well as the advice from various government agencies.”
Work for the DIA included professional archaeological investigations, community workshops and liaison activities
to collect appropriate information necessary to make the submittal for approval to the DGAAM - General
Directorate of Mining Environmental Affairs - of the Ministry of Energy and Mines, Peru . The work program
included:
• Environmental baseline monitoring for the project, conducted by third party experts;
• The Peruvian Ministry of Culture granted the CIRA (Certificate of non-existence of archaeological remains)
which declares that the project does not impact archaeological sites; and
• Public participation meetings outlining Hannan’s exploration plans were held in the hamlets of Pucayoc
and Cunchiyacu, where the communit ies are on record as approving of the Company’s proposed drill
program.
The DIA is the primary environmental certification required to allow low impact mineral exploration programs,
that includes drilling programs, to proceed in Peru. Final DIA and other approvals are anticipated during Q3
2025.
About the Valiente Project
At the Valiente project, Hannan is targeting Miocene age porphyry copper-gold in a back-arc setting in Central
Eastern Peru. Hannan considers the belt to be a potential new metallogenic province of Peru. Located far
inboard of the conventional porphyry settings, the project shows regio nal similarities to deposits such as the
large Bajo de Alumbrera copper-gold porphyry in Argentina.
The Valiente Cu-Au project represents a small proportion (4%) of Hannan’s total landholding at Valiente.
In 1984 Ingemmet, the Peruvian Geological Survey, conducted mapping in the central part of the Central
Cordillera in the Departments of Huanuco and Ucayali. The area was sporadically explored during the 1990’s by
Gitennes, Newcrest, BHP, WMC and others but records are sparse. At this time, access to the area was restricted
because of unpredictable security conditions and poor infrastructure.
From 2020 to 2021, Hannan launched a greenfields exploration program for porphyry and epithermal gold
deposits in the high jungle areas of the Eastern Cordillera of Peru, which included regional database compilation,
target generation, and field mapping. H annan also conducted regional stream sediment sampling (fine clay
fraction). The target generation permitted definition of prospective area, one of which was the Valiente block
located along the eastern flank of the Central Cordillera, Department of Ucayali.
The Belen Copper-Gold Porphyry Project
The Belen prospect, 100% owned and explored by Hannan, is located 19 km east of the city of Tingo Maria, in
central Peru. The deposit site 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 exploration program initiated by Hannan.
Peru has been a major copper and gold producer since precolonial times. Currently known gold deposits include
orogenic gold, porphyry Cu-Au, porphyry Au, transitional porphyry-epithermal, epithermal, and placer gold. The
Belen project may represent a tra nsitional porphyry -epithermal style within the newly discovered Valiente
metallogenic belt of the central eastern Andes. The Valiente project is located further east than most of the
conventional Andean porphyry settings and shows regional similarities to deposits such as the large Bajo de
Alumbrera copper -gold porphyry in Argentina. It is interpreted that Valiente was formed in a tectonically
favourable 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.
A 5,176-line km airborne magnetic and radiometric survey has been completed and processed at the Valiente
project. The survey covers the entire 94,500 ha of Hannan’s 100%-owned mining concessions across the project
area. Hannan’s preliminary evaluation of the airborne d ata demonstrates at least 18 magnetic anomalies of
significance across the project. Magnetic and radiometric data were recorded simultaneously during the survey.
Both data sets are instrumental for targeting porphyry deposits due to the presence of magnetic minerals (such
as magnetite) and potassic alteration (from minerals such as biotite and K -feldspar), often associated with the
core of porphyry mineral systems. A strong correlation is observed with known mineralized areas and magnetic
and potassic radiometric anomalies such as at the Belen prospect with two porphyry targets at Ricardo Herrera
and Sortilegio and Valiente Norte, where four magnetic targets have been identified.
The Belen Cu-Au target contains a linked porphyry copper-gold and epithermal gold mineral system which include
a number of prospect areas described below in more detail.
Ricardo Herrera Copper-Gold Porphyry Target
A linked porphyry copper-gold and epithermal gold mineral system has been identified at Belen within an 8 km
by 2 km trend. Recent detailed field work has identified a leached copper -gold porphyry with well-developed
quartz veining at upper topographic levels and evidence for an enriched chalcocite blanket sampled over 1 km
within lower lying creeks at the Ricardo Herrera Copper -Gold Porphyry Target. This coincides with a highly
anomalous Cu-Au-Mo soil anomaly over a 1,600 m by 800 m area above a mapped and radiometrically dated
Miocene-age porphyry intrusion.
The Ricardo Herrera porphyry stock was intruded in several stages, broadly termed early, intermineral, and late,
all interpreted within a relatively short time interval. The early stages are hornblende feldspar porphyries of
andesitic composition, whereas the late stages consist of unaltered feldspar porphyries of andesitic composition.
The intrusions caused contact metamorphism and hydrothermal alteration that partially obliterated the original
texture and composition of the sedimentary country rocks. Two early porphyries are identified. The first being
an intermediate argillic (chlorite from secondary biotite-white micas) with relicts of potassic alteration (secondary
biotite-magnetite) with “EB” type veinlets (early biotite), M-type (magnetite) veinlets and few A-type veinlets
(quartz). The second early porphyry intrusion is characterized by A -type veinlets, jarosite -goethite iron oxide
veinlets with phyllic alteration (quartz -white sericite), argillic alteration (kaolinite). The intermineral stock is
dominated by supergene argillic alteration and propylitic alteration (chlorite, epidote).
In porphyry copper systems, the area with the highest copper grade often corresponds to the early porphyries.
The focus of the detailed geological mapping has therefore been to identify this area and to sample it with
systematic rock sampling.
At Ricardo Herrera the combined early hornblende feldspar porphyry is at least covering an area of 850 m x 250
m on the surface. But limited exposures, that are mostly constrained to creeks and rare outcrops, make it difficult
to define the true area. Observed copper minerals include pyrite, chalcopyrite, chalcocite, molybdenite, neotocite
and chrysocolla mineralization. The intermineral hornblende feldspar porphyry contains supergene argillic
alteration and minor neotocite. Moderate to pervasive secondary biotite alteration is common throughout the
host rock. Strong chloritization and pyritization is observed replacing the secondary biotite.
At this initial stage of exploration at the Ricardo Herrera porphyry target, the early porphyry occupies a surface
area of 0.21 km2 which is comparable to the 22.37 Moz gold La Colosa deposit in Colombia where the early
diorite porphyry occupies a surface area of 0.35 km2.
Channel sampling at Ricardo Herrera has been focused on creeks where outcrop exposures are good. In many
places access is a limiting factor of what can be sampled. Most channels have to date been taken from zones
peripheral to what is interpreted to be the core of the system. The results are summarized in Table 1. Results
from 34 individual channels include 5 m @ 0.11% Cu and 5 ppm Mo. This channel is open to either side and is
from the strongly leached and weathered exposure of the early diorite porphyry. Fractures are rich in jarosite
and goethite after pyrite and chalcopyrite. Importantly, the best and highest-grade results have been achieved
from the leached early porphyry. The results are also low in manganese therefore interpreted to be
representative of a leached porphyry system. Channel sampling continues.
Results from 13.7 km Induced Polarization (“IP”) geophysical survey at Ricardo Herrera prospect were released
during the period. The survey identified two chargeable zones corresponding to two mapped porphyry units.
Each represents a significant exploration target. The second target demonstrates the greatest potential with a
chargeable zone over 800 m x 600 m and to at least 500 m depth which remains open.
Vista Alegre Epithermal gold target
Vista Alegre consists of a gold-bearing epithermal target identified by large gold mineralized boulders of quartz-
pyrite and iron oxides. Strongly gold anomalous soil samples have been discovered 2.5 km NW of Ricardo
Herrera. Infill sampling at 25 m x 25 m on the target has now been initiated.
Previous work has also included:
• Systematic 100 m x 100 m soil sampling program. Two strong gold anomalous trends that extend for
1,800 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.
• Soil anomalies are coincident with gold found in quartz -iron oxide boulders. To date 19 boulders >0.1
ppm Au have been sampled over a trend of 1.6 km that is parallel to the main gold anomaly. A total 43
rock samples from boulders average 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 have also been located 270 m apart. The mineralization is hosted by 5 –
30 cm wide quartz veins 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
Sortilegio
The bedrock of the Sortilegio area is characterized by a multistage intrusive event with complex intercutting
relationships. The event was dated (U-Pb) by Hannan in May 2023 to belong to the fertile Miocene epoch (21.8-
21.2 Ma). The rocks are composed of diorite to monzonite intrusions, gabbro pyroxenite/lamprophyre and a
late stage of megacryst k-feldpar rich monzonite. The intercutting relationships are mostly gradational, and the
youngest rocks are the gabbro pyroxenite/lamprophyre and monzonite. The monzonite is mostly K -feldspar
megacrystic with a pegmatitic texture. The youngest rocks mapped are thin porphyritic dykes and veins and
they are inferred to be contemporary with the mineralization.
The mineralization overprints all rocks in the area. It is characterized by a zoned stockwork of goethite-hematite
veinlets with relicts of sulphides. The zoning is marked by the intensity of the veinlets/m and vein brecciation
in the contact of the k-feldspar megacrystic monzonite. The goethite-hematite veins have formed after primary
copper sulfides and represent a leached part of the system, with minor remnants of chalcopyrite -pyrite still
present. Magmatic-hydrothermal breccias are often important hosts in alkalic systems.
Detailed mapping at Sortilegio has demonstrated a leached alkalic porphyry style copper mineralization over an
area of 1,800 m by 1,000 m area. Most notable is a stockwork of goethite veinlets overprinting all phaneritic
rocks with six core zones with >20 veinlets/m. Lower intensity veining, marked by 10 to 20 veinlets/m envelope
the core zone and form a halo to the higher -grade mineralization. High -grade copper-gold bearing massive
goethite boulders with remnants of secondary biotite with one boulder assaying 16.0% Cu and 4.4 g/t Au are
interpreted to be sourced from structurally controlled mineralization within these core zones.
Strong indications are also emerging of a 4 km long skarn hosted gold-base metal target (the Belen Skarn zone)
north and east of Sortilegio, expanding the footprint of the mineral system to cover 10 km. The soil anomalous
trend is parallel to an Andean th rust fault and initial soil data suggest a strike >4 km. 190 soil samples have
been analyzed with pXRF and 90 samples with fire assay from the area with results ranging from 6 ppm Zn to
2,031 ppm Zn and averaging 109 ppm Zn, 2 ppm Pb to 266 ppm Pb and averaging 18 ppm Pb and <0.001 g/t
Au to 0.103 /t Au and averaging 0.008 g/t Au.
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 of 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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