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EPIC: HAN
Market: TSX-V
52-week High/Low: C$0.51 / C$0.16
Sector: General Mining - Zinc, Lead and Tin
Market Cap: C$10.87M
Hannan Metals Ltd

Hannan Metals Ltd

Hannan Metals Ltd 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,...

Hannan Metals Ltd

www.hannanmetals.com

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Big picture - Why invest in Hannan Metals Ltd


Hannan Metals Ltd Snapshot

OBJECTIVES

Hannan is a mineral exploration company focusing on discovering or acquiring well-located, high-grade resources in safe jurisdictions. The principals behind the Company have long and successful careers in locating, developing and funding resource projects on four continents.

Exploration involves identifying, prioritizing and testing geological, geochemical and geophysical targets. Our objective is to safely discover, investible resources with the potential to be profitable at all parts of the commodity cycle.

The Company was formed on January 09, 2017 when Mitchell Resources Ltd completed a transaction with the shareholders of Hannan Metals Ltd. (“Hannan Canada”), a private British Columbia company, to acquire all of the issued and outstanding shares of Hannan Canada and, consequently, a 100% interest in Hannan Canada’s rights, through its wholly-owned subsidiary Hannan Metals Ireland Ltd. (“Hannan Ireland”), to the Clare prospecting licences in Clare County, Ireland

The Company’s flag ship property is the Kilbricken base metal project in Ireland.

The corporate objectives are to build our business in Ireland around Kilbricken and to find and define a large, long-life asset.

The team has made numerous discoveries and has demonstrated success advancing these towards mining.

 

OVERVIEW

Hannan Metals Ltd has 100% ownership of the County Clare Zn-Pb-Ag-Cu project in Ireland, which consists of 7 prospecting licences for 25,282 hectares.

The Kilbricken project is a new high-grade Zn-Pb-Ag-Cu discovery and 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 1km and is ready to explore and expand within a 40km strike area.

IRELAND

The Irish base metal ore field is one of the world’s best mineralized zinc provinces and is considered highly prospective for new zinc discoveries. In 2015, Ireland was the world’s 10th largest zinc producing nation with 230,000 tonnes produced.

Ireland is ranked number one for zinc per square kilometre in the world and number two for lead Home to the World-class Navan deposit (111 Mt @ 7.9% Zn & 1.9% Pb) with an in-situ metal value if discovered today of more than US$22 billion.

Stable fiscal and regulatory regime with excellent and cost-effective exploration service infrastructure Irish-Type zinc deposits are highly sought after by major mine developers due to Ireland’s mining regime, and high quality zinc concentrates

Seismic surveying and drilling focused exploration strategy to test proven basins below previously explored surface levels.

 

 

 
Clare Project
 
Hannan Metals Ireland Ltd (“Hannan Ireland”) acquired the project from Lundin on September 21, 2016, pursuant to an Assignment Agreement (the “AA”) between the Irish Minister for Communications, Climate Action and Environment, Hannan Ireland and Lundin. Under a separate Asset Purchase Agreement (the “APA”), dated June 3, 2016, Hannan Ireland purchased all exploration data associated with the PLs from Lundin for a cash payment of US$150,000. Hannan Ireland must make two additional cash payments to Lundin Mining of US$425,000 each on September 21, 2017 and March 21, 2018. Lundin retained a 2% net smelter return royalty on all sales of mineral products extracted from the area of land subject to the PLs, subject to a 0.5% buy back right of Hannan Ireland for US$5,000,000, which must be exercised within one year from the date of commercial production. Hannan Ireland is required to pay Lundin a one-time bonus payment of US$5,000,000 within the earlier of (i) Hannan Ireland’s decision to proceed with mine construction or (ii) within 90 days of the establishment of a commercial financing to finance capital costs for mine construction. Additionally, Hannan Ireland will be required to pay a one-time cash fee of US$2,000,000 less cash payments already made to Lundin, if it transfers its rights to the PLs to an arm’s length party (which excludes Mitchell) for US$10,000,000 or greater within 18 months of the execution of the APA.
 
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KILBRICKEN

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.

The Kilbricken Project is considered to be highly prospective for discovering and developing important zinc-lead-silver sulphide deposits. The Kilbricken deposit, as currently delineated, is open along strike and both in an up-drip and down-dip direction. All projects on the Property are at an exploration stage; there are no mine development or mining operations.

Two main mineralized zones have been discovered to date:

The Zinc Zone, being the initial discovery area, which has been drilled within an area of 950 metres by 400 metres, between 360-440 metres vertically below surface. Significant drill results in this zone include DH46: 20.5m @ 7.5% Zn, 9.9% Pb, 0.07% Cu, 74.6g/t Ag from 415.3m and DH06: 21.3m @ 11% Zn, 4.8% Pb, 0.06% Cu, 94.4g/t Ag from 441.9m.
The Copper Zone was found later in the Lundin program and is drilled within an area of 400 metres by 200 metres, between 520-670 metres vertically below surface. Significant drill results in the Copper Zone include DH167: 4.5m @ 0.8% Zn, 2.6% Pb, 18.91% Cu, 867.6g/t Ag from 616 metres.
The main Kilbricken mineralization has been drilled within an area of 1,500 metres by 800 metres in plan view and remains open in most directions. Mineralization, defined as ≥ 4.0m @ ≥4.00% Zn Eq or 16m% Zneq where Zn Eq = Zn% +(Pb% x 1.15) + (Ag ppm x 0.037917), ranges in thickness from 2 metres to 31 metres thick and averages 7.5 metres thickness.

For more information, please cllick here 

 

Lars Dahlenborg

Lars Dahlenborg
VP Exploration (Elect)

Mr. Dahlenborg is an exploration geologist with 10 years of experience in Sweden, Finland and Peru. He began his career as an underground mapping geologist at LKAB in Kiruna, Sweden. He joined Mawson’s Swedish exploration team in 2007 where he planned, supervised and implemented several drill projects for energy metals. He is responsible for the only new drill discovery of U-Cu mineralization made in Sweden since the early 1980s. In 2010 he joined Mawson’s exploration team in Peru, where he created the regional exploration data base and led a project generation for Cu-Au mineralization with local experts. In 2011 he joined Mawson’s Finnish exploration team at the Rompas Rajapalot gold project. In Finland, he held a senior position supporting the exploration manager and advanced the technical understanding of the project together with the Finnish exploration team. He holds a MSc geology from Lund university in Sweden and is a Member of the Australian Institute of Geoscientists.
 

1305 1090 West Georgia St

Vancouver

V6E 3V7

BC Canada

[email protected]

Tel: +1 (604) 699 0202
Fax: +1 (604) 683 1585

Hannan Metals Ireland Ltd
Clare House, Upper O’Connell Street,
Ennis, Co. Clare,
Ireland

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