Hannan Update: 100% Owned Miocene Copper-Gold Porphyry Project, Peru Discovers a 1,600 m by 800 m Cu Soil-Anomaly at Belen

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[{"type":"text","content":"Hannan Update: 100% Owned Miocene Copper-Gold Porphyry Project, Peru Discovers a 1,600 m by 800 m Cu Soil-Anomaly at BelenVANCOUVER, BC / ACCESSWIRE / February 9, 2022 / Hannan Metals Limited (\"Hannan\" or the \"Company\") (TSXV:HAN)(OTC PINK:HANNF) is pleased to provide an update on exploration programs at the 100%-owned Valiente copper-gold porphyry project in central Peru (Figures 1 and 2).Highlights:Hannan is a top 10 concession holder in Peru. It has a dominant and first mover position in the tropical sub-Andean zone where it has 121 granted and pending applications for 1,164 sq km of mining concessions in a previously unrecognized Miocene copper-gold metallogenic belt, the most significant metallogenic epoch in Peru. At least 7 intrusive centres within a 140 km x 50 km area (Figure 2) have been identified at the Valiente project (previously known as Previsto but now extended and renamed) and the Company has established a vast first mover tenure position:With 25 mining concessions for 244 sq km of mining concessions now granted, Hannan has commenced working more closely with local stakeholders to plan to undertake the first detailed exploration on the project.Exploration methodologies include airborne magnetics, stream sediment and float and outcrop Cu-Au geochemical sampling. Recently discovered rock samples have assayed up to 25% copper and 0.9 g/t gold.Initial reconnaissance ridge-top soil sampling at the Belen prospect within the Valiente project area has defined a robust and coherent 1.6 km by 0.8 km copper anomaly (Fig 2), with values up to 1,461 ppm copper from portable XRF analysis. Additionally, the large soil anomaly is associated with:Strongly leached and weathered sub-cropping porphyry with secondary copper oxides.Alluvial gold extracted by artisanal miners located 700 metres down-stream (Figures 3 and 4).A coincident 5 km by 5 km prominent magnetic high anomaly from regional airborne surveys (Figure 3) associated with a dated Miocene-age alkaline porphyry intrusion.Although laboratory results (including gold) are pending a strong multi-element association including molybdenum and potassium are evident in the soil data (Figure 3).Hannan plans to fly a detailed airborne magnetic survey over the entire 1,164 sq km Valiente project area in mid-2022 and has already commenced initial permitting work.Michael Hudson, ...

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