Hannan Metals Limited (TSXV: HAN; OTC Pink: HANNF) has reported the first assay results from its maiden diamond drilling program at the Stavaträsk gold project in northern Sweden.
Gold mineralization was intersected in all five holes reported. The seven-hole program covered 1,040 metres of drilling across 650 metres of strike, with assays from the final two holes still pending.
Maiden Drilling Returns Shallow Gold Intercepts
Hole ST2605 returned 15.6 grams per tonne gold over 1.1 metres from 35.6 metres downhole, including 27.8 g/t gold over 0.6 metres.
Approximately 650 metres to the south, hole ST2604 intersected 1.3 g/t gold over 9.2 metres from 29.9 metres. Higher-grade intervals within the intercept included 3.7 g/t over 1.0 metre and 5.0 g/t over 0.8 metres.
Results from the southern drilling area included:
- ST2601: 1.4 g/t gold and 8.2 g/t silver over 4.5 metres
- ST2602: 1.4 g/t gold and 1.3 g/t silver over 5.6 metres
- ST2603: 2.6 g/t gold and 1.9 g/t silver over 1.3 metres
A 0.5-metre section within ST2601 returned 8.9 g/t gold, 47.5 g/t silver and 0.74% copper.
The reported intervals are downhole lengths. The true thickness of the mineralized zones has not been determined.
Results Cover Two Target Areas
The maiden program tested mineralization beneath two surface target areas separated by approximately 650 metres.
Hannan said holes ST2601 through ST2603 encountered gold-bearing quartz and arsenopyrite veins hosted in altered granodiorite. Holes ST2604 and ST2605 intersected narrower, higher-grade mineralization hosted in mudstone farther north.
The company interprets both areas as part of a structurally controlled mineralized corridor along the Vidsel-Röjnoret Shear System. Hannan’s mapping traces the prospective trend for approximately seven kilometres, although drilling has tested only a limited portion and no mineral resource has been defined.
The two deepest holes, ST2606 and ST2607, tested the possible down-dip continuation of the granodiorite-hosted system. Hannan reported extensive alteration in ST2606, but assays from both holes remain pending. Visual observations of alteration or sulphides do not establish metal grades.
Follow-Up Work Planned
Hannan holds an option to acquire up to a 100% interest in Stavaträsk and two other Swedish gold projects. The TSX Venture Exchange accepted the option agreement for filing in July.
The company plans an induced-polarization geophysical survey followed by a second drilling program. The timing and scope of that work remain subject to final planning and the interpretation of the outstanding assays.
Stavaträsk does not currently contain a mineral resource or Mineral Reserve. Additional drilling will be required to determine the continuity, true widths, scale and potential economic significance of the mineralization.
Sources
- Newsfile — Hannan Reports Maiden Stavaträsk Drill Results
- Hannan Metals — Sweden Projects
- Hannan Metals — Maiden Stavaträsk Program Completed
- Newsfile — Hannan Secures Option Over Three Swedish Gold Projects
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Sources include Hannan Metals’ maiden drilling announcement dated August 13, 2026, its program-completion announcement dated July 6, 2026, and its Swedish project option announcement dated June 10, 2026.
The interpretation of a mineralized corridor, outstanding assay results, planned geophysical work and proposed second drilling program are forward-looking statements based on the company’s current interpretations and plans. Exploration results, program timing and future discoveries are uncertain. Visual observations of alteration or sulphides should not be treated as assay results.
All reported drill intervals are downhole lengths, and their true thicknesses are not currently known. The Stavaträsk project has no mineral resource or Mineral Reserve prepared under NI 43-101. There is no certainty that further exploration will define a mineral resource or establish economically recoverable mineralization.
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