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Hannan Expands Portfolio by 100% to 1869 sq km, Becomes Top 10 Tenure Holder in Peru
VANCOUVER, BC / ACCESSWIRE / January 14, 2021 / Hannan Metals Limited ("Hannan" or the ...
About this update from Hannan Metals Ltd.
[{"type":"text","content":"Hannan Expands Portfolio by 100% to 1869 sq km, Becomes Top 10 Tenure Holder in PeruVANCOUVER, BC / ACCESSWIRE / January 14, 2021 / Hannan Metals Limited (\"Hannan\" or the \"Company\") (TSXV:HAN)(OTC PINK: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. The additional 932 square kilometers of applications will be explored by Hannan in its own right.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. Over the last 6 months, the lock-down has provided a unique opportunity to build a two-pronged Peruvian strategy. We now have secured a vast and extremely prospec...