Hannan Expands Portfolio by 100% to 1869 sq km, Becomes Top 10 Tenure Holder in Peru
(PresseBox) - Hannan Metals Limited (?Hannan? or the ?Company?) (TSXV: HAN) (OTCPK: HANNF) is pleased to announce that is has significantly increased its Peruvian mineral tenure holdings by 100% to a total 1,864 square kilometers (186,400 hectares) of granted mineral concessions and applications.
Key points:
Hannan has increased its Peruvian mineral tenure holdings to 1,869 square kilometres (186,900 hectares) by staking an additional 932 square kilometres prospective for back-arc alkalic high level porphyry copper-gold systems (the ?Previsto Project?) in central eastern Peru;
With this increased tenure, Hannan becomes a top 10 concession holder in Peru (considering combined granted concessions and applications). The top 10 is dominated by some of the world?s largest exploration and mining companies and Hannan stands out as one of the very few juniors to acquire such a significant land position (Table 1);
These new areas will be explored alongside Hannan?s existing projects in San Martin, located approximately 250 kilometres north of Previsto (Figure 1)which include:
660 sq km (65,989 hectares) optioned and joint ventured in San Martin with Japan Oil, Gas and Metals National Corporation ("JOGMEC"), as announced on November 30, 2020 (?San Martin JV Project?). Under the JOGMEC Agreement, JOGMEC has the option to earn up to a 75% beneficial interest in the San Martin JV Project by spending up to US$35,000,000 to deliver to the joint venture a feasibility study;
278 sq km (27,700 ha) 100% owned by Hannan in the San Martin area for sediment-hosted copper and silver, outside of current joint venture areas (?San Martin Hannan Project?) (Figure 1);
Field teams have already been mobilized to the Previsto Project area and initial reconnaissance field results and a more detailed geological overview will be released soon;
Michael Hudson, CEO states, ?Late last year, Hannan concluded one of the strongest joint ventures in the junior space with JOGMEC in San Martin.
Hannan?s aggressive staking has led it to become a top 10 concession holder in Peru (considering combined granted concessions and applications).f the tenure held in Peru.
The Previsto Project, which comprises 906 sq km of mining concession applications, demonstrates the Company?s strategy to open new search spaces and apply disruptive exploration models to previously unexplored terrain. The new areas were identified over the last 6 months via remote studies and reprocessing government Petroleum exploration data. has identified late Oligocene to late Miocene age intrusions in these back arc settings close to Hannan?s new applications areas.
With field crews active on the Previsto Project, further information on this and other new areas will be made as it becomes available. The time to grant mining concession applications in Peru takes up to one year. One hundred percent ownership of the Previsto Project is held through Hannan subsidiaries or in trust via other private companies.
About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limitednd 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, info(at)hannanmetals.com
Forward Looking Statements
Certain disclosure contained in this news release, including the Company?s expectations regarding the Agreement and the payments and earn-in upon the successful completion of certain milestones, may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company''s public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company''s current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
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Datum: 14.01.2021 - 06:46 Uhr
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News-ID 1563779
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