Hannan Significantly Expands Gold Mineralization Width Six Fold at Previsto, All 148 Channel Samples Mineralized, Peru

On 2026-06-03, Hannan Metals announced a massive expansion of high-grade gold mineralization at its 100%-owned Previsto prospect in Peru. Continuous mineralized channel width increased from 15.5 m to 96.5 m laterally (estimated true width ~90 m), with peak grades of 7.1 g/t Au. All 148 channel samples returned gold mineralization, and two newly discovered distinct breccia units suggest a zoned hydrothermal plumbing system analogous to the Cripple Creek deposit in Colorado. The company reports that community support has been secured, and the environmental permit application (DIA) is expected to be submitted in June 2026, targeting maiden drilling in late Q1 or early Q2 2027. Concurrently, Hannan and JOGMEC mutually agreed to terminate the San Martin joint venture, effective June 18, 2026, as the project no longer aligns with either party’s strategic priorities.

The most recent release represents a meaningful, positive de-risking step for the Previsto project. While still at the channel sampling stage, the geometry and continuity of mineralization are now demonstrably scaleable, moving from a narrow high-grade zone to a broad, coherent mineralized body with a 100% hit rate across 148 samples. The identification of dual breccia systems and the clear alkalic porphyry-epithermal fingerprint strengthens the case for a significant mineral system at depth.

The bulk of the sampling has historically returned modest average grades (e.g., 0.5–0.6 g/t Au over width), but the presence of discrete higher-grade pockets (7.1 g/t Au) and the sheer volume of consistently mineralized rock suggest potential for economic grades if the system can be modeled as a bulk-tonnage target. The expansion in width and the geological understanding materially enhance the prospectivity ahead of drilling.

The joint venture termination with JOGMEC for San Martin is a minor negative but appears to be an amicable separation that allows Hannan to fully focus on Previsto. No resource impairment or cash outflow is noted.

The timing of the permit submission (June 2026) is in line with previous guidance, and the drilling start date (late Q1/early Q2 2027) shows a realistic timeline, albeit a slow one for an impatient market.

Compared to earlier news, this announcement extends known mineralization from the 110 m by 20 m area (May 2026) and the 1.2 km trend to a true width of ~90 m, significantly increasing the potential tonnage. The 100% hit rate across a larger sample set confirms the pervasive nature of the system. This news is incremental but substantial; it builds on previous results and provides a significantly larger scale, which the market may not have fully priced in given the prolonged downtrend in the stock.

Overall, the net impact is material and positive—the geological expansion and permitting progress are genuine, market-moving developments for a junior explorer.

Hannan Metals Ltd is a Canadian junior mineral exploration company focused on gold-copper alkalic porphyry-epithermal systems in Peru. Its flagship asset is the 100%-owned Valiente project, which hosts the Previsto prospect—a district-scale gold-silver-copper system with a prospective corridor now totaling 13 km in strike length. Previsto is characterized by high-grade gold channels (peak 11.2 g/t Au, broader zones at 0.5–2.4 g/t Au) and extensive copper and tellurium anomalism. Geological models indicate an alkalic porphyry-epithermal system comparable to Cripple Creek and Porgera.

Secondary projects include Belen (drilling in 2025–2026 with modest results) and the now-terminated San Martin joint venture with JOGMEC. All projects are in Peru. The company is led by CEO Michael Hudson, a seasoned geologist.