Hannan Metals Limited is a Peruvian exploration company opening up search spaces in new frontiers to find the next generation of large-scale global copper-silver and copper-gold deposits. With 2,154 sq km of mineral tenure, we are now a top 10 concession holder in a country which is dominated by some of the world’s largest exploration and mining companies. Hannan is one of the few juniors to acquire such a significant land position.
In 2020 we completed one of the larger joint venture agreements in the junior space by partnering with the Japan Oil, Gas and Metals National Corporation ("JOGMEC") at the San Martin JV project. JOGMEC has the option to earn up to a 75% beneficial interest in the San Martin Project by spending up to US$35,000,000 to deliver to the joint venture a feasibility study on 815 sq km.
The San Martin Project covers a new, basin-scale high-grade sediment-hosted copper-silver system situated along the foreland region of the eastern Andes Mountains. Hannan recognized the significant potential for large copper-silver deposits in this part of Peru and has aggressively staked a commanding position of prospective where mineralized outcrops and boulders have been discovered in context with a consistent mineralized horizon geology over 120 km of combined strike. Geologically, analogues include the vast Kupferschiefer deposits in Eastern Europe. Sediment-hosted stratiform copper-silver deposits are among the two most important copper sources in the world, the other being copper porphyries.
Hannan’s is also exploring in its own right over 277 sq km of mining concessions prospective for copper-silver 100% in the San Martin area for sediment-hosted copper and silver, outside of current joint venture areas and also holds over 1,062 sq km of mining concessions prospective for back-arc copper-gold porphyries in central-eastern Peru. Hannan also has 100% ownership of the zinc-silver County Clare project in Ireland.