Hannan Metals Ltd (CVE:HAN, OTCPK:HANNF) is excited about drilling the Kilmurry target, having completed holes at the Ballyhickey prospect within its Clare zinc project in Ireland.
Three holes for 735 metres have now been completed at the Ballyhickey prospect, said the group, which lies between two and three km north of the Kilbricken resource area.
Although Hanan is still waiting for assays, the drill holes did not hit prospective geological features or visible mineralization.
Drilling now moves to the recently defined Kilmurry target, which lies 9 km south of the Kilbricken resource and where three drill targets have been prioritized at Kilmurry.
The firm says the target is highly prospective for zinc-lead mineralization.
"Kilmurry is a compelling target that has all the right ingredients for a major base metal system, said Michael Hudson, the chairman and CEO of Vancouver-based Hannan.
"Our on-going seismic interpretation recently identified a major syn-sedimentary structure, that we were excited to find had no prior drill testing, but nearby holes included widespread anomalous zinc and lead and a thin massive sulphide interval.
"Now that we have downgraded the prospectivity of the Ballyhickey prospect with three holes, our drill priorities for the new year now move to Kilmurry, where the scale of untested fault and host rock point to the potential for a transformative discovery."
The Kilmurry synsedimentary fault has one of the largest basin-scale displacements mapped in Ireland, said Hannan.
The firm's County Clare zinc, lead, silver, copper project consists of nine prospecting licences for 32,223 hectares.
A maiden resource at Kilbricken showed indicated mineral resources of 2.7 million tonnes at 8.8% zinc equivalent, including 1.4 million tonnes at 10.8% zinc equivalent and total inferred mineral resources of 1.7 million tonnes at 8.2% zinc equivalent.
Importantly, the initial resource is expandable at all scales, from near resource to prospect scale.
Hannan Metals Ltd shares were unchanged at $0.09 each.
Contact Giles Gwinnett at [email protected]
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