Hannans Reward encouraged by latest Pahtohavare drilling results

THE DRILL SERGEANT: Hannans Reward (ASX: HNR) announced diamond drillhole assay results from the Central deposit at the company’s Pahtohavare copper-gold project, located south-west of Kiruna in northern Sweden.

Pahtohavare comprises three deposits, Central, Southern and South Eastern.

Hannans’ Swedish joint venture partner Lovisagruvan AB is funding the costs of exploration under the terms of a Joint Venture struck up in March this year, under which Hannans will retain a 25 per cent free carried interest through to a Decision to Mine.

Hannas said assay results have now been received for drillholes PADH15006 and also the diamond tail PARC13001D, which include copper-gold-silver intercepts of:

PADH15006
30.43 metres at 1.75 per cent copper, 0.49 grams per tonne gold, 1.54g/t silver from 20.07m (0.1% copper lower-cut, 1m internal dilution), including 12.3m at 2.99 per cent copper, 0.87g/t gold, 1.66g/t silver from 29.2m (1% copper lower-cut, 0m internal dilution).

PARC13001D
18m at 1.48 per cent copper, 0.36g/t gold, 0.9g/t silver from 155m (0.1% copper lower-cut, 1m internal dilution);

9m at 0.49 per cent copper, 0.15g/t gold, 0.71g/t silver from 176m (0.1% copper lower-cut, 1m internal dilution).

“All drillholes from the recent diamond drilling program have now been logged, sampled and dispatched to the laboratory for assaying; the balance of results is expected in October,”Hannans Reward said in its ASX announcement.

“Joint venture partner Lovisagruvan AB is expected to make a decision on whether to proceed to Stage 2 of the joint venture agreement in late October.”

The Central deposit contains a current JORC-compliant Inferred Mineral Resource Estimate of 1.4 million tonnes at 1.8 per cent copper and 0.6g/t gold (2.4% copper equivalent).

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