Hannan Discovers a New Alkalic Porphyry-Epithermal Gold-Copper Cluster at Valiente

VANCOUVER, BC / ACCESSWIRE / December 11, 2023 / Hannan Metals Limited ("Hannan" or the "Company") (TSXV:HAN)(OTC PINK:HANNF) is pleased to announce the definition of a new porphyry-epithermal copper-gold cluster at the Previsto project area located within the northern part of the 100% owned Valiente project in central Peru (Figure 1).

Excitingly, recent detailed field work at Previsto has discovered two new targets (beyond the initial discovery of the Previsto Central porphyry) at Previsto Norte (porphyry) and Previsto East (alkalic-type epithermal system) within a total area of 15 km by 7 km. Initial rock chip and soil sampling in both areas is extremely encouraging for an early-stage discovery (Figures 4 and 5).

Over the last three years, at Valiente Hannan has discovered a Miocene-age porphyry-epithermal gold-copper mineralized belt that extends over 150 km by 40 kms in area, located in central-eastern Peru. Within this belt a clustered porphyry/epithermal camp has emerged where five porphyry copper-gold targets and associated skarns have now been discovered (Ricardo Herrera, Sortilegio, Divisoria, Previsto Central and Previsto Norte), and two epithermal prospects (Vista Alegre and Previsto East) (Figures 2 and 3).

Highlights: The first exploration work reported from the Previsto area has identified three priority areas: A 1,200 m long alkalic gold epithermal anomaly at Previsto East defined by: 17 soil samples over 1,200m strike ranged from below detection to 0.4 g/t Au in thick scree cover and averaged 0.1 g/t Au. These early-stage samples are highly anomalous. Two styles of gold mineralized boulders have been described so far: 1. Gossanous polymictic hydrothermal breccias and 2. phyllic alteration with thin veins of quartz pyrite and disseminated roscoelite, a vanadium-bearing mica common as a marker in alkalic gold systems (Figure 5) and: A second target, Previsto Norte (Figures 2 and 3), located 4 km north of Previsto East has also been discovered with copper mineralized boulders. Copper is hosted in fractures and seams within sandstones, porphyritic and phaneritic intrusive rocks with weak propylitic alteration and pervasively leached gossanous dolomite boulders. Further work is being undertaken and Hannan believes the copper in the sandstones is associated with a mineralized porphyry target in the area. Previously reported initial reconnaissance field work from the third target area, Previsto Central, located 3 km West of Previsto East has identified a large-scale hydrothermal system within a 6 km x 3 km area. This area also demonstrates alkalic porphyry style mineralization with the best float sample assaying 25.6% copper and 28 g/t silver, from an interpreted supergene enrichment zone.

Michael Hudson, CEO, states: "Now that we have established access and initial exploration at Previsto, it is shaping up as one of the most exciting target areas within the 100%-owned Valiente project, where we have now outlined an overlapping suit of multiple porphyry and epithermal targets alkalic hosted copper-gold mineralization.