Hannan Metals Reports High-Grade Gold and Copper Assays in Peru

Hannan Metals reports high-grade gold, copper, and silver assays at its Previsto project in Peru, extending mineralization over 1.2km. Shares surged 22% on the news as the company prepares for drilling.

Exploration company Hannan Metals has announced significant new assay results from its ongoing 2026 field campaign at the Previsto project in Peru. The findings, centered on the Mirador Creek target area, have revealed high-grade gold and copper, extending a known mineralized system within the Valiente district and confirming a trend over a 1.2-kilometer strike length.

Share Price Reaction and Project Context

The market responded positively to the news, with Hannan Metals' shares surging nearly 22% in today's trading to reach €0.40. Despite this short-term rally, the stock remains down approximately 30% since the start of the year. The company is financially positioned to advance its projects, holding liquid capital of between 7 and 8 million Canadian dollars. These funds are earmarked for the continued development of the Valiente project and the San Martin Joint Venture.

Exceptional Geochemical Results

Systematic sampling in previously underexplored, densely forested terrain has yielded impressive numbers. A channel sample returned 1.74 grams per tonne of gold and 13 grams per tonne of silver over a width of 2.8 meters. Geological analysis of the samples also confirmed the presence of telluride minerals, which geochemists consider a key indicator for high-grade gold systems.

Further underscoring the property's potential, another sample from the same location assayed 0.51% copper alongside elevated molybdenum values. This combination of metals supports the interpretation of a large-scale porphyry-epithermal system. The geochemical data points to exceptionally fertile rock, with a strontium-to-yttrium ratio of 93. This figure significantly exceeds the industry threshold of 35 typically associated with major metal concentrations.

Permitting and Next Steps

As surface work at Previsto continues, Hannan Metals is preparing for a transition to systematic drilling. A ten-person environmental team has already compiled the necessary data for the "DIA Amanecer" permit application, which is slated for submission to Peru's Ministry of Energy and Mines. The initiation of the first drill programs, however, remains contingent upon receiving this permit.

The company anticipates additional assay results from surrounding target areas as the 2026 field season progresses. Concurrently, logistical preparations for the more complex drilling phase are underway.