Hannan Provides Update on First-Ever Drilling of Back-Arc Porphyry and Epithermal Targets in Peru

Core Insights - Hannan Metals Limited has reported new drilling results from its epithermal gold target at the Belen project in Peru, marking the first-ever drilling of back-arc porphyry and epithermal systems in the area [1][6] Group 1: Drilling Results - At Vista Alegre, three completed drill holes tested IP chargeability/geochemical anomalies but only intercepted peripheral structures, with gold values up to 0.4 g/t Au, indicating surficial enrichment [2][10] - The source of 21 mineralized boulders, with gold grades ranging from 0.15 g/t to 2.72 g/t Au and arsenic levels up to 1,475 ppm, remains undiscovered, suggesting a significant mineralized source nearby [3][11] - The first drill hole at Ricardo Herrera, HDDRH001, has reached a depth of 610 m and intercepted a Cu-Mo porphyry system, with chalcopyrite and molybdenite logged [4][12] Group 2: Future Plans - Following the second hole at Ricardo Herrera, the company plans to drill the 1.2 km long Sortilegio chargeability anomaly within an alkalic porphyry system [5][14] - Vista Alegre has multiple untested high-resistivity targets scheduled for Stage 2 drilling, indicating ongoing exploration efforts [5][11] - The company is focused on advancing its flagship alkaline epithermal gold target, Previsto, with established high-grade channel results and anticipated drill permit approval in Q3 2026 [9][22] Group 3: Project Overview - The Valiente project, covering 1,002 km², is located in central eastern Peru and has evolved from a greenfields prospect to a multi-prospect opportunity since its discovery in 2021 [16][17] - The project area is characterized by steep topography and has identified multiple porphyry and epithermal targets, with ongoing systematic exploration planned [18][19]