09:01 AM EDT, 03/20/2024 (MT Newswires) -- Hannan Metals Ltd. ( HANNF ) said Wednesday that it discovered a new style of sediment-hosted copper-silver mineralization at the San Martin West area within the San Martin project in Peru.

The company said outcropping copper-silver mineralization has been mapped for over 2.3 kilometers of strike, including 5.8 meters at 3.1% copper and 65 g/t silver from surface.

"This is an exciting new discovery demonstrating consistently thick zones of high-grade copper and silver mineralization over multiple kilometers of strike length," Chairman and CEO Michael Hudson said.

"Copper mineralization of this style and tenor was previously unknown at the San Martin project until these recent discoveries."

Hannan said it will advance the new discovery with more detailed geological mapping and geochemical sampling while also preparing for a drill program at the Tabalosos project.

The company gained 3.6% yesterday.