Hannan Metals (HANNF) Update
Hannan management was out with two updates this morning.
The first is an update on drilling progress at the Belen prospect. The company has just completed drilling its first hole (HDDVA001) targeting Vista Alegre. We do not have assay results yet – they are expected in July. The drill has been moved to drillhole #2 (HDDVA002), which is underway. Once Vista Alegre has been drilled the team will move on to the Sortilegio target, then to the Ricardo Herrera target, all of which are within the Belen prospect.
The second update relates to the Previsto prospect, which is about 20 km to the north of Belen. Management says recent sampling and mapping has expanded the size of the footprint to 650 meters (from about 500 meters), with several new high-grade results within the expanded zone. The team will be completing more detailed sampling programs to better define these high-grade structures.
These are incrementally positive developments that aren’t moving the stock today but should help keep the story “fresh” as we await what should be stock-moving news in July. BUY
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