Mining News Flash with Hannan Metals, Mayfair Gold and Millennial Potash

Key Concepts

• Alkaline System: A geological environment characterized by alkaline igneous rocks, often associated with significant gold mineralization.
• Pre-feasibility Study (PFS): A comprehensive study that assesses the economic viability and technical parameters of a mining project before a full feasibility study.
• Evaporite Basin: A sedimentary basin where minerals (like potash) are deposited through the evaporation of water.
• Geotechnical/Hydrogeological Data: Information regarding rock mechanics and groundwater behavior, essential for safe open-pit mine design.
• Mineral Resource Estimate: A calculation of the quantity and grade of mineralized material in a deposit.

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Hannon Metals: Preisto Central Exploration (Peru)

Hannon Metals has reported a significant expansion of its high-grade gold deposit at the Preisto Central area. Following an initial discovery of 135.2 meters grading 1.3 g/t gold, the company conducted systematic follow-up sampling.

• Key Results: The exploration defined a continuous high-grade zone with peak values reaching 11.2 g/t gold. Notable channel sections included 18.7 meters at 2.1 g/t gold, with grab samples averaging 6 g/t gold.
• Geological Potential: Hyperspectral data indicates that current outcrops represent the "apex" of a preserved alkaline system. The company estimates a vertical extension potential exceeding 500 meters, suggesting that current findings are only the "tip of the iceberg."
• Methodology: Sampling is currently restricted to jungle outcrops; however, the mineralized zones remain open in all directions, indicating significant room for further expansion.

Mayfair Gold: Fenelon Project Development

Mayfair Gold is transitioning from exploration to advanced project planning, focusing on refining the geological model and operational readiness for the Fenelon project.

• Model Refinement: The geology team is updating the localized model to compare against the existing Mineral Resource Estimate from the pre-feasibility study. This process aims to assess changes in grade distribution and geological continuity to improve mine planning predictability.
• Operational Optimization:
  • Geotechnical Drilling: Scheduled for Q3, this program builds on 2023 data to collect structural, geo-mechanical, and hydrogeological information. This is critical for optimizing open-pit designs and ensuring long-term operational stability.
  • Infrastructure: The company is actively working on metallurgical programs and securing future power supply.
• Leadership: The company has strengthened its management team with the appointments of Adri De Lazar (VP of Exploration) and Shaforswua Mile (VP of Mineral Resource Management) to accelerate project development.

Millennial Potash: Banio Potash Project (Gabon)

Millennial Potash has initiated its Phase 3 drilling program, targeting the expansion of known potash sequences.

• Drilling Objectives: The four-hole program focuses on the southern and western extensions of the deposit, where previous drilling identified potash sequences exceeding 100 meters in thickness.
• Geological Model: The company believes it is drilling deeper into the evaporite basin, with the potential to intersect all 10 potash cycles.
• Timeline and Specifications: Each hole is planned to a depth of 1,000 meters. The program is expected to conclude in Q4 2026, with the company committed to providing market updates as assay results and interpretations become available.

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Synthesis and Conclusion

The updates from Hannon Metals, Mayfair Gold, and Millennial Potash highlight a shift toward systematic resource definition and operational optimization. Hannon Metals is leveraging hyperspectral data to confirm the scale of a large alkaline gold system in Peru. Mayfair Gold is focused on the technical rigor required for mine planning, utilizing geotechnical data to de-risk its open-pit design. Meanwhile, Millennial Potash is aggressively testing the depth and extent of its evaporite basin in Gabon. Collectively, these activities represent a strategic move to increase resource confidence and project value across all three companies.

Disclaimer: This summary is for informational purposes. The companies mentioned are part of the SRC Mining Special Situation Certificate, and the producers/presenters may hold financial interests in these entities.