Categories: Precious Metals / Mining Stocks
Topics: Gold Stocks / Copper Stocks

Hannan Metals (TSX-V: HAN)(OTC: HANNF) CEO Michael Hudson on Validating Kilometre-Scale Gold System at Previsto

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Hannan Metals (TSX-V: HAN)(OTC: HANNF), Mr. Michael Hudson. Mike, how are you this afternoon?

Michael Hudson: Gerardo, I'm well. Happy Christmas to you.

Gerardo Del Real: Thank you, same your way, sir. Listen, I am hoping that this time next year, we're celebrating the Christmas and holiday season talking about the spectacular drilling success at Previsto, the Cripple Creek analog, the monster, call it what you like. You've done a lot of excellent field work while you drill a phase one of three different projects that obviously we're waiting and hoping for a discovery for. But with Previsto, it's different because of the scale and because we know there's a discovery there. The challenge now really is finding the best parts of the system and getting through the permitting process, which again, I'm hoping this time next year, we're chatting about phenomenal spectacular drill results. In the meantime, there's going to be a lot of fieldwork to get done because of how little of this just spectacular world-class system you've actually explored.

But you just had a release that had a lot of technical info in it. And I wanted to have you on to explain some of it because there was a lot in there that's just screaming world-class. The headline's easy, it says, "Hannan validates kilometer skill gold system at Previsto." But look, I would love to get your take on this release, the more technical aspects of it as far as the continuity, and then the next steps for really continuing to understand this evolving system here better.

Michael Hudson: Yeah, it's just piece by piece we're unraveling this system, Gerardo. It is a very big system. It's a district now that we're starting to unravel it, it's not a single prospect. And we've made these high grade discoveries earlier. We’ve gone there, we found more high grade mixed in a sea of low grade. And that's what these alkaline systems are, they're large, very large footprint, tens of millions of ounces in the analogs. And they form these very high grade parts with a larger sea of lower grade gold around them. And that's exactly what we're seeing. And I suppose I'll take one step back, just to put your listeners into what our geologists have been so fantastic, and field teams and local people who supported the field teams have done over the year. These are virgin areas, never seen exploration before. That's one thing.

We're in areas that haven't been explored before. They're steep. You've been into some of these areas yourself and know the challenges. We're only a couple of hours walk from a road and a kilometer upper hill, but it's dense jungle. The jungle covers the rocks. So we're looking at probably a minuscule amount of the outcropping area. We've got soils, and the soil anomaly is vast, it's five by five kilometers and running 0.1 grams gold. And the challenge is to try and find higher grade parts and the rocks that allow us to understand the system. And that's what we've done. And we've got now a hell of a lot of data now that we've got to the end of the field season. And January's a bit wet, so we'll spend a lot of time pulling all this data together, knowing that we've only explored 0.2, 3% or 4% something of the area and 99.5% of the area is left unexplored.

But every time we go back, we find more and more grade and imply the continuity between a lot of the different data sets that we have now from soils to rock chips to channels. And it belies belief that some of the higher grades we've got, we've got hundreds of meters at grams that we've been able to trench and 25 meters at six or seven grams in some of the higher grade areas. It belies belief that they're the only high grade parts of the area. And now we're starting to find more of these, only at the gram levels, but there'll be more multi-ounce type numbers come out of this system as we unravel it. And it's just a very big system that ultimately needs the drill rig, and you touched on that permitting.

Gerardo Del Real: You just closed, and congratulations, by the way, you had announced a $4 million financing that quickly evolved into raising $9.1 million. So you have a war chest right now. Moving into 2026, the company's positioned as good as it's ever been positioned. And I've been following Hannan and been a shareholder on and off, clearly very largely on right now. Since 2015, 2016 timeframe, I couldn't be more excited about 2026 and the direction the company's going into. But with that war chest and knowing that Previsto, the permitting is going to take a bit of time, no matter how much great work the team on the field has done, and it has, what comes next? How's the drilling going at the three targets that we initially drilled, the three projects, and then what do you expect for 2026, Mike?

Michael Hudson: Yeah, so around the permitting, we're getting to the very end of submitting the final permit. We're just making sure that we've got all that information that makes it a smooth process. Collecting all the data and making sure we get all the relevant documentation. And these are areas that have never been explored, so you've got to do things slightly differently in these parts of the world. And we've learned how to do that now having worked up in the north with our JOGMEC joint venture and taking those learnings and applying them down here in Previsto. So we hope Q1, maybe Q2, but let's try for Q1 that we submit the permit and then we'll work with the authorities to permit as quickly as we can next year. And then the drilling is progressing. We've put some results out. And more results will come. The rigs have turned up until just a few days ago.

It's finished the first hole at Sortilegio, which has now been logged. And we'll go back at the end of January when the wet season takes a break ideally, but none of the work on making accesses and platforms is stopping over that timeframe through January. And then we'll have some results come through in January, no doubt, from the two Ricardo Herrera holes. But our guidance is that we haven't found the grade yet in the systems, we're not seeing that. So we're certainly drilling these mineralized systems. But our challenge is just to find the grade in what is a good set of projects, but certainly nothing at the scale or grade that we see at the surface of Previsto. But any drill hole could change our fortunes at Belen where we're drilling 20 kilometers away from Previsto. And we're not stopping, we'll be drilling through Q1 and Q2 next year.

Gerardo Del Real: Excellent. Well, listen, Mike, have a great Christmas. Thank you for what's been a transformational year that has really put the company in a position to really, really take advantage of this gold, copper, and silver, and frankly, metals bull market at historic highs in several of those commodities. I'm looking forward to a ton of catalysts in 2026. Been a great year this year. I suspect next year will be just as, if not more exciting. Anything to add to that?

Michael Hudson: No, so very well poised with capital, with money, with drill rigs on the ground, with an amazingly large, one of the biggest systems globally that we'll be finalizing permitting on, and doing a lot more surface work from January onward. So much to come to the table, and best place, like you started the conversation, than we've ever been. So let's make it all happen, Gerardo.

Gerardo Del Real: Looking forward to it. Thank you, Mike.

Michael Hudson: Thanks, mate.

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