en.Wedoany.com Reported - Hannan Metals has completed its first diamond drilling program at the Stavaträsk gold project in the Skellefteå mining district of northern Sweden, comprising seven drill holes totaling 1,040 meters, with assay results expected within the next six weeks. Additionally, the TSX Venture Exchange has accepted the option agreement signed by the company in June 2026, which will grant Hannan Metals a 100% interest in the Stavaträsk, Skellefteå North, and Ådelfors gold projects.
CEO Michael Hudson stated that the transition from announcing the agreement to completing the first drilling program took only a few weeks, demonstrating the rapid progress of the project and the vitality of Sweden as a mining-friendly jurisdiction. He noted that Stavaträsk's proximity to the historic Boliden deposit enhances the area's appeal, with one of Europe's highest-grade gold mines, Boliden, located just 20 kilometers from the drilling site.
Hannan Metals plans to initiate a second drilling program of approximately 1,000 meters after receiving laboratory results. Hudson explained that this new phase will depend on the results obtained, and the company will await the outcomes of the first 1,040 meters before proceeding with the second 1,000-meter drilling program. He emphasized that the Previsto project in Peru remains the company's flagship asset and primary focus, with the Swedish projects intended to complement rather than replace this work.
Stavaträsk is located within the renowned Skellefteå belt, a region that has historically produced significant amounts of gold, silver, and copper. Hannan Metals is continuously collecting geological data and developing a three-dimensional model to enhance understanding of the project while advancing the assessment of its mineral potential. The Previsto project in Peru remains the company's main asset, with an initial drilling program scheduled for 2027 following the receipt of necessary permits. The addition of the Swedish projects aims to supplement its exploration portfolio and maintain the development of short-term new opportunities.
