Hannan Metals increases land package at Peru copper project

Hannan Metals Limited (CVE:HAN) (OTCMKTS:HANNF) has expanded its mineral claim application area at its San Martin copper project in north-central Peru.

The Vancouver-based company secured a district-scale sediment-hosted copper terrane, with applications covering more than 76 kilometres of strike zone of the prospective host horizon.

The new claim area is interpreted to be an extension of the mineralized portion discovered in Hannan’s Tabalosos claim applications, where previous sampling by the junior miner outlined four areas of high-grade copper and silver over 15 kilometres of strike within two structural corridors. Sampling results showed an average grade of 2.8% copper and 27.2 grams per ton silver.

READ: Hannan Metals eyeing more drilling at Kilmurry prospect after latest work 

“San Martin demonstrates the initial makings of a high-grade sediment-hosted copper and silver discovery in north-central Peru,” said CEO Michael Hudson in a statement. “We look forward to a multi-team exploration program during 2019 to target areas of grade and thickness.”

Hannan began the 2019 dry-season exploration program in Peru with field reconnaissance and is planning a larger, multi-team exploration program in mid-April of this year.

In addition to San Martin, the base metal project generator has 100% ownership of the County Clare zinc-lead-silver project in Ireland.

Shares of Hannan were trading at $0.11 in Canada and US$0.08 in the US on Wednesday.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors