Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSX.V: HAN) announces the results of a gap analysis on mineralogical investigations on the Kilbricken project, Ireland by Dr. Kurt Forrester of Arn Perspective Ltd.
Key points:
- Based on the available information it is likely a conventional lead-zinc flotation circuit at Kilbricken would be able to achieve saleable mineral concentrates;
- It is anticipated that there should be no penalties due to the presence of deleterious elements (arsenic, manganese, cadmium, selenium), subject to confirmation from the assessment of bulk element deportment during lead-zinc flotation;
- A primary grind of between 100µm to 150µm is anticipated to achieve satisfactory liberation and there are no red flags with the modal mineralogical analysis with respect to mineral processing and beneficiation;
- Based on the information available, it is anticipated that Kilbricken should be able to achieve high recoveries of both zinc and lead concentrates. Results from limited grade recovery analysis indicated the following recoveries probable using a conventional flowsheet:
- Targeting a sphalerite grade of 85% in the zinc concentrate would result in recoveries in excess of 85%;
- Targeting a galena grade of 70% in the lead concentrate would result in recoveries in excess of 75%;
- Recommendations include conducting metallurgical test work across the deposit as part of an ongoing exploration and development program. To this end, Hannan plans to start drilling at Kilbricken during April 2017. The first two drill holes will collect metallurgical samples for locked cycle flotation testwork.
Mr Hudson, CEO and Chairman states, “In general,Irish style zinc-lead deposits are typically attractive because of their simple mineralogy and polymetallic nature. It is most encouraging that this also appears to be the case at Kilbricken with these results suggesting a conventional lead-zinc flotation circuit at Kilbricken would be able to achieve saleable mineral concentrates, with no penalties likely due to the presence of deleterious metals. Our metallurgical studies will continue, with drilling to start in April, to focus on gaining fresh metallurgical samples.”
The findings were based on a gap analysis performed by Dr. Kurt Forrester of Arn Persepective Ltd, based on a report by SGS Mineral Services, Lakefield Facility, dated September 2010 and titled: “An Investigation by High Definition Mineralogy into the mineralogical characteristics of Fourteen Rock Samples from A Carbonate Hosted Base Metal Deposit, Ireland, prepared for Lundin Mining Exploration”. The study examined fourteen mineralized samples from Kilbricken and was carried out with X-ray diffraction (XRD), QEMSCANTM, electron microprobe and chemical analysis. The purpose of the mineralogical appraisal test program was to determine the overall mineral assemblage and textural characteristics in each sample, and the liberation characteristics. Material employed in these analyses were taken from zones across a number of mineralogical domains identified in 2010 during historical exploration undertaken by Lundin Mining Exploration Limited and there is no guarantee that the samples analyzed will form part of any future resource area.
About Hannan Metals Limited (TSX.V:HAN)
Hannan Metals Limited has 100% ownership of the County Clare Zn-Pb-Ag-Cu project in Ireland, which consists of 9 prospecting licences for 32,223 hectares. The Kilbricken project, a new high-grade Zn-Pb-Ag-Cu discovery is the Company’s flagship project. Better intersections, to date, include DH 46: 20.5m @ 7.5% Zn, 9.9% Pb, 0.07% Cu, 74.6g/t Ag, DH06: 21.3m @ 11% Zn, 4.8% Pb, 0.06% Cu, 94.4g/t Ag. The project is drilled over more than 1.5 kilometres and, importantly, holds large upside with a 40-kilometre trend to test, which includes the Milltown prospect (incl. DH19: 13.3m at 5.8% Pb and 10.5% Zn). The true thickness of the mineralized intervals quoted is interpreted to be approximately 95% of the sampled thickness.
Zinc remains in tight supply amidst rising demand and stagnant supply. Ireland is a leading global jurisdiction for zinc mining and exploration. It has been stated that Irish base metal ore field is ranked first in the world in terms of zinc discovered per square kilometre, and second in the world with respect to lead. In 2015, Ireland was the world’s 10th largest zinc producing nation with 230,000 tonnes produced.
Over the last decade, the team behind Hannan has forged a long and successful record of financing and discovering mineral projects in Europe. Additionally, the team holds extensive zinc experience, gained from the world’s largest integrated zinc producer of the time, Pasminco Ltd.
Dr. Kurt Forrester, Chartered Chemical Engineer (CEng MIChemE) and Chartered Professional Metallurgist (MAusIMM CP(Metallurgy), is a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this news release.
On behalf of the Board,
“Michael Hudson”
Michael Hudson, CEO & Chairman
Further Information
1305-1090 West Georgia Street, Vancouver, BC V6E 3V7
Mariana Bermudez, Corporate Secretary,
+1 (604) 685 9316, info@hannanmetals.com
Forward Looking Statements
Certain information set forth in this news release contains “forward-looking statements”, and “forward- looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company’s expectations regarding future performance based on current results, expected cash costs based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projects of future performance or results expressed or implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: timing of commencement of planned drill programs; anticipated mineral recoveries, liabilities inherent in mine development and production, geological risks, the financial markets generally, and the ability of the Company to raise additional capital to fund future operations. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
