Hannan Metals identifies copper-gold soil sample anomalies in Peru

TSXV-listed junior Hannan Metals has reported findings from an infill soil sampling programme at its Valiente project, which defines a previously unknown copper-gold mineralised belt within a 140 km by 50 km area in central Peru.

Hannan’s exploration team has identified at least seven intrusion related porphyry/epithermal/skarn targets, of which Belen is the most advanced. Detailed field work at the Belen prospect, which represents just 4% of Hannan’s total landholding at Valiente, has yielded ‘extensive and systematic soil sample anomalies over multiple kilometres’, said Hannan’s CEO Michael Hudson.

“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,” he said.

“This is the first bone fide bedrock find at the Valiente project. We look forward to more detailed field work including channel sampling at Belen and working up adjacent porphyry targets. The company is also initiating work to commence drill permitting.”

Hannan has over the last decade forged a long and successful record of discovering, financing, and advancing mineral projects in Europe and Peru.

The company is a top 10 in-country explorer by area in Peru. Mining investment in the Latin American country increased by 14% year-on-year in May, according to latest data from the Ministry of Mining. This investment is primarily being driven by Anglo American’s Quellaveco project, which produced first copper concentrate earlier this week.