TSX-V: HAN
The Valiente Project, located 300 kilometres south of the 100%-controlled San Martin Hannan Project in central eastern Peru, defines a previously unknown porphyry and epithermal mineralized belt within a 140 kilometre by 50 kilometre area.
At Valiente, regional exploration has identified seven intrusion related porphyry/skarn targets defined by coincident Cu-Au-Mo-Ag anomalies with lesser Pb-Zn-Sn-W from multiple datasets, including stream sediment sampling, outcrop and boulder geochemical sampling, geological mapping and airborne magnetics. The nature of the targets is at an early stage. The entire area is under thin cover, and it is estimated that <1% of the bedrock outcrops.
The most advanced of these is in the northern part of the project area (Previsto Norte Target). Many copper-bearing boulders with different stages of porphyry intrusions have been observed with strong hydrothermal alteration and B-style quartz-sulphide veins relating to porphyry mineralization. Values up to 25.6% Cu and 28 g/t Ag have been assayed. Gold anomalous boulders are also present with 0.9 g/t Au and 0.12% Cu assayed from a strongly leached hydrothermal breccia with porphyritic clasts.
Hannan tenure holdings at Valiente are 1,164 square kilometres (116,400 hectares) prospective for back-arc porphyry copper-gold systems. These new areas will be explored alongside Hannan’s existing projects in San Martin, located approximately 250 kilometres north of Valiente. A total of 25 granted mining concessions for 244 sq km have been granted, while the remainder remain under application. The time to grant mining concession applications in Peru takes up to one year. Control of the Valiente and San Martin Hannan Projects is held 100% through Hannan subsidiaries or in trust via other private companies.
