Hannan Metals identifies a large porphyry gold-copper target in Peru

The discovery, named Previsto East, contains anomalously high gold in soil samples, associated with multiple large local copper and gold mineralized boulders, in an area covered by scree and soil cover from 1 m to 5 m thick.

Hannan Metals Limited’s surface sampling at the 100%-owned Valiente project in Peru has identified an 1,800 m by 400 m alkalic porphyry-epithermal target. The discovery, named Previsto East, contains anomalously high gold in soil samples, associated with multiple large local copper and gold mineralized boulders, in an area covered by scree and soil cover from 1 m to 5 m thick.

The Previsto East discovery is the eighth significant porphyry and/or epithermal target discovered within an area of 25 km by 10 km at Previsto and Belen which Hannan now believes represents a giant porphyry cluster.  As surface field work continues, both the number and tenor of individual targets has continually improved.

“Hannan’s 100%-owned Valiente project keeps getting better with our teams expanding and making new discoveries every month. The scale of the Previsto East gold-rich copper porphyry system identified here competes with some of the best pre-discovery stage porphyry projects.  The larger Previsto area remains largely unexplored, and our teams are now actively expanding the footprint to identify additional copper and gold rich targets adjacent to Previsto East.  Excitingly early-stage prospecting has identified large outcrops of copper oxide mineralization of a similar style 3.5 km west of the Previsto East target during recent field work. We believe our work is demonstrating a giant porphyry cluster with the footprint likely to expand with further mineral prospecting during 2024,” stated CEO Michael Hudson.

The 100% owned Valiente project is in central eastern Peru, east of the city of Tingo Maria. The area is characterized by steep topography on the eastern flank of the Central Cordillera with elevations between 800 m and 2,000 m above sea level. 

The project was discovered in 2021 during an extensive greenfields exploration program initiated by Hannan. Hannan holds 1,002 sq km of mineral tenure prospective for back-arc porphyry copper-gold systems at the Valiente Project in central eastern Peru.  

The company has been actively exploring the project since 2021 and successfully gained social permits all areas of interests in the zone. In January 2024 Hannan submitted it first drilling application (DIA) covering two porphyry targets and one epithermal target at the Belen zone.  

The company is now expanding the footprint by exploring new areas to build a pipeline of projects that will be permitted, and drill tested over the coming five years.