Hannan Metals Limited has returned gold mineralization in every reported hole from its maiden diamond drill program at the Stavaträsk gold project in the Skellefteå district of northern Sweden, intersecting intervals including 1.1 m at 15.6 g/t gold from 35.6 m down hole.

The initial campaign comprised seven diamond drill holes totaling 1,040 metres over a 650-metre strike length, testing targets within a 7-kilometre mineralized trend. Assay results from the first five holes, numbered ST2601 through ST2605, confirmed shallow gold mineralization across the program, while assay results for the final two holes remain pending.

Drillhole ST2605 returned a higher-grade sub-interval of 0.6 m grading 27.8 g/t gold and 5.0 g/t silver from 35.6 m. Further north, hole ST2604 intercepted 9.2 m at 1.3 g/t gold from 29.9 m, including a 1.0-metre section at 3.7 g/t gold. In the southern drilling area, hole ST2601 intersected 4.5 m at 1.4 g/t gold and 8.2 g/t silver from 80.0 m, alongside a poly-metallic sample returning 0.5 m at 8.9 g/t gold, 47.5 g/t silver and 0.74% copper.

Gold traded at US$4,393.00 per ounce, representing a 7.74% increase over the 30-day period leading to August 13, 2026.

“This drilling suggests we have discovered a large, gold-bearing corridor of mineralization consisting of a quartz-vein-swarm hosted within a persistent granodiorite host-unit. This gold-bearing corridor is interpreted to be 50 m to 65 m wide, with several higher-grade structurally controlled zones of quartz-veining observed, returning several gold-rich intervals, such as; 9.2 m at 1.3 g/t Au (including 0.4 m at 5.6 g/t Au ) and 1.1 m at 15.6 g/t Au (including 0.6 m at 27.8 g/t Au ).”

— Michael Hudson, CEO

Analysis of the drill core indicates that elevated gold concentrations display a systematic correlation with arsenic, followed by silver, tellurium, and bismuth. The true thickness of the reported mineralized intervals is not yet known.

Assay results for the final two drillholes, ST2606 and ST2607, are expected over the coming weeks. Hannan also plans to carry out an induced polarization gradient array geophysical program across the project area, to be followed by a second drill program.

Read the full announcement: Hannan Stavaträsk Maiden Drilling Hits Gold in Every Hole Across 650 m Strike; High-Grade 0.6 m at 27.8 g/t Au and Broader Target of 9.2 m at 1.3 g/t Au Confirm Large-Scale System; IP Geophysics Next