VANCOUVER, March 30, 2017 /CNW/ - Hannan
Metals Limited ("Hannan" or the "Company") (TSX.V:
HAN) announces the results of a gap analysis on mineralogical
investigations on the Kilbricken project, Ireland by Dr. Kurt
Forrester of Arn Perspective Ltd.
Key points:
- Based on the available information it is likely a conventional
lead-zinc flotation circuit at Kilbricken would be able to achieve
saleable mineral concentrates;
- It is anticipated that there should be no penalties due to the
presence of deleterious elements (arsenic, manganese, cadmium,
selenium), subject to confirmation from the assessment of bulk
element deportment during lead-zinc flotation;
- A primary grind of between 100µm to 150µm is anticipated to
achieve satisfactory liberation and there are no red flags with the
modal mineralogical analysis with respect to mineral processing and
beneficiation;
- Based on the information available, it is anticipated that
Kilbricken should be able to achieve high recoveries of both zinc
and lead concentrates. Results from limited grade recovery analysis
indicated the following recoveries probable using a conventional
flowsheet:
- Targeting a sphalerite grade of 85% in the zinc concentrate
would result in recoveries in excess of 85%;
- Targeting a galena grade of 70% in the lead concentrate would
result in recoveries in excess of 75%;
- Recommendations include conducting metallurgical test work
across the deposit as part of an ongoing exploration and
development program. To this end, Hannan plans to start drilling at
Kilbricken during April 2017. The
first two drill holes will collect metallurgical samples for locked
cycle flotation testwork.
Mr Hudson, CEO and Chairman states, "In general, Irish
style zinc-lead deposits are typically attractive because of their
simple mineralogy and polymetallic nature. It is most
encouraging that this also appears to be the case at Kilbricken
with these results suggesting a conventional lead-zinc
flotation circuit at Kilbricken would be able to achieve saleable
mineral concentrates, with no penalties likely due to the presence
of deleterious metals. Our metallurgical studies will
continue, with drilling to start in April, to focus on gaining
fresh metallurgical samples."
The findings were based on a gap analysis performed by Dr.
Kurt Forrester of Arn Persepective
Ltd, based on a report by SGS Mineral Services, Lakefield Facility,
dated September 2010 and titled:
"An Investigation by High Definition Mineralogy into the
mineralogical characteristics of Fourteen Rock Samples from A
Carbonate Hosted Base Metal Deposit, Ireland, prepared for Lundin Mining
Exploration". The study examined fourteen mineralized
samples from Kilbricken and was carried out with X-ray diffraction
(XRD), QEMSCAN™, electron microprobe and chemical
analysis. The purpose of the mineralogical appraisal test
program was to determine the overall mineral assemblage and
textural characteristics in each sample, and the liberation
characteristics. Material employed in these analyses were taken
from zones across a number of mineralogical domains identified in
2010 during historical exploration undertaken by Lundin Mining
Exploration Limited and there is no guarantee that the samples
analyzed will form part of any future resource area.
About Hannan Metals Limited (TSX.V:HAN)
Hannan Metals Limited 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, 94.4g/t Ag. The project is drilled over more than 1.5
kilometres and, importantly, holds large upside with a 40-kilometre
trend to test, which includes the Milltown prospect (incl. DH19: 13.3m at
5.8% Pb and 10.5% Zn). The true thickness of the
mineralized intervals quoted is interpreted to be approximately 95%
of the sampled thickness.
Zinc remains in tight supply amidst rising demand and stagnant
supply. Ireland is a leading global jurisdiction for zinc
mining and exploration. It has been stated that Irish base metal
ore field is ranked first in the world in terms of zinc discovered
per square kilometre, and second in the world with respect to lead.
In 2015, Ireland was the world's
10th largest zinc producing nation with 230,000 tonnes
produced.
Over the last decade, the team behind Hannan has forged a long
and successful record of financing and discovering mineral projects
in Europe. Additionally, the team holds extensive zinc
experience, gained from the world's largest integrated zinc
producer of the time, Pasminco Ltd.
Dr. Kurt Forrester, Chartered
Chemical Engineer (CEng MIChemE) and
Chartered Professional Metallurgist (MAusIMM CP(Metallurgy), is a
Qualified Person as defined in National Instrument 43-101 and has
reviewed and approved the technical disclosure contained in this
news release.
On behalf of the Board,
"Michael Hudson"___________
Michael Hudson, CEO &
Chairman
Forward Looking Statements
Certain information set forth in this news release contains
"forward-looking statements", and "forward- looking information"
under applicable securities laws. Except for statements of
historical fact, certain information contained herein constitutes
forward-looking statements, which include the Company's
expectations regarding future performance based on current results,
expected cash costs based on the Company's current internal
expectations, estimates, projections, assumptions and beliefs,
which may prove to be incorrect. These statements are not
guarantees of future performance and undue reliance should not be
placed on them. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties, which may cause the
Company's actual performance and financial results in future
periods to differ materially from any projects of future
performance or results expressed or implied by such forward-looking
statement. These risks and uncertainties include, but are not
limited to: timing of commencement of planned drill programs;
anticipated mineral recoveries, liabilities inherent in mine
development and production, geological risks, the financial markets
generally, and the ability of the Company to raise additional
capital to fund future operations. There can be no assurance that
forward-looking statements will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change except as required
by applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Hannan Metals Ltd.