The Kilbricken project is a new high-grade Zn-Pb-Ag-Cu discovery and is the Company’s flagship project. The project is drilled over more than 1km and is ready to explore and expand within a 40km strike area.
Massive sulphide mineralization at Kilbricken most commonly consists of early massive-textured, fine-grained pyrite, galena and sphalerite cross-cut by coarse-grained sphalerite and galena, resembling sulphides found in the overlying veins. It differs from most other Irish zinc/lead prospects in that it is rich in silver, where the silver is generally associated with galena-rich zones.
Significant work has been undertaken on the property by Hannan and earlier work by Lundin Mining Ltd since 2009 (approximately US$30M in the last 10 years). A total of 290 drillholes for 140 kilometres of diamond drilling has been completed over the entire project. Since early 2017, Hannan has completed the following exploration work program in and around the Kilbricken resource.
- Hannan’s first year diamond drill program comprised 12 holes for 6,492 metres and focused on expanding the Kilbricken resource. Many drill holes intersected significant mineralization which extended both the Fort and Chimney Zones. Drill highlights include DH 17-3679-217 (“DH217”) at the Fort Zone, that was one of the most mineralized ever drilled at the property:
- 8.0 metres @ 4.1% Zn, 33.7% Pb and 174 g/t Ag (37.9% Zn+Pb) from 528 metres;
- 3.4 metres @ 5.2% Zn, 4.3% Pb and 33 g/t Ag (9.5% Zn+Pb) from 570 metres;
- 26.6 metres @ 7.5% Zn, 0.9% Pb and 14 g/t Ag (8.4% Zn+Pb) from 588 metres;
- A maiden resource was established comprising 2.7 million tonnes at 8.8% zinc equivalent (“ZnEq”), including 1.4 million tonnes at 10.8% ZnEq indicated and inferred resources of 1.7 million tonnes at 8.2% ZnEq, including 0.6 million tonnes at 10.4% ZnEq. for Kilbricken, which immediately ranked it as one of the top ten base metal deposits in Ireland by tonnes and grade (data sourced from the Irish Exploration, Mining Division website);
- Close to 1,000 surface geochemical samples were collected which defined seven new anomalous areas within a 12km by 2km long north-west trending multi-element geochemical anomaly;
- A 40.6 line kilometre 2D seismic survey that delivered a critical new set of subsurface data across much of the Clare prospecting licence;
- Locked cycle metallurgical testwork on massive sulphide mineralization from Kilbricken is now underway with Wardell Armstrong with results available Q2 2018;
- New lead and zinc mineralization was discovered in outcrop approximately 600 metres north from the Company’s Kilbricken zinc-lead-silver resource in County Clare, Ireland. Multiple occurrences of coarse-grained galena (lead sulphide) and sphalerite (zinc sulphide) have been discovered in rocks exposed by recent forest cutting over an area of 70 metres by 60 metres at Finanagh. Correlates with extremely high lead (up to 2,650ppm) and zinc (up to 921ppm) values in soil samples. The new discovery at Finanagh is part of the 12 kilometres of strike potential around Kilbricken, within which it presents a priority drill target due to the combined presence of highly anomalous soil samples, mapped seismic structure and outcropping mineralization. The area has not previously been drill tested, and it is interpreted that the potentially mineralized host rock position (Waulsortian Limestone) will lie at shallower depths (250 metres) than at Kilbricken.
Following a successful exploration program completed by Hannan over the last year, the Company is now planning a 20,000 metre drill program to test geological, seismic and soil targets generated both at Kilbricken and across Hannan’s large Clare prospecting licence. Immediate priorities on the regional basin-scale are structural trends evident in seismic data that coincide with seven significant geochemical targets within a 12 kilometre untested trend.
NI 43-101 Technical Report:
On August 22, 2017, Hannan filed an independent National Instrument 43-101 Technical Report (the “NI 43-101 Technical Report”) on The Mineral Resource Estimate for the Kilbricken Zinc-Silver-Lead-Copper Project Co. Clare, Ireland For Hannan Metals Ltd in support of the Company’s news release dated July 10, 2017. The NI 43-101 Technical Report was authored by Mr. Geoff Reed of Reed Leyton Consultants and Dr. John Colthurst who are independent “qualified persons” as defined by National Instrument 43-101. The NI 43-101 Technical Report may be found under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.hannanmetals.com.