Bald Eagle Announces Exchange Approval for Name Change to Hercules Silver Corp. and Provides Exploration Update
Bald Eagle Announces Exchange Approval for
Name Change to Hercules Silver Corp. and
Provides Exploration Update
TORONTO
,
Aug. 24, 2022
/CNW/ - Hercules Silver Corp.
(formerly
Bald Eagle Gold
Corp.)
("
Hercules Silver
" or the "
Company
") (TSXV: BIG) (OTCQB: BADEF) (FWB: 6W0) is
pleased to announce that the TSX Venture Exchange (the "
TSXV
") has approved the Company's
name change from Bald Eagle Gold Corp. to Hercules Silver Corp (the "
Name Change
"). The
Company's common shares (the "
Common Shares
") will commence trading under the name
Hercules Silver Corp. today at the market opening of the TSXV.
The Common Shares will continue to trade under the same symbols on stock exchanges (TSX-V:
BIG; OTCQB: BADEF; FWB: 6W0). The Common Shares will trade under CUSIP and ISIN numbers
42710L106 and CA42710L1067, respectively, following the Name Change.
The Name Change was fully described in the Company's management information circular dated
June 10, 2022
, which can be accessed on the Company's SEDAR profile at
www.sedar.com
, and
was approved by shareholders of the Company at the Annual and Special Meeting of Shareholders
held
July 15, 2022
.
The rebranding features a new website,
www.HerculesSilver.com
, where a new redesigned
corporate presentation can also be found. Readers are encouraged to explore the website which
features a new look and content with enhanced visuals.
Management Commentary
"We are pleased to officially begin trading today under Hercules Silver Corp., which marks the
beginning of our new journey as an exciting new silver explorer in the mining-friendly state of
Idaho
,"
said Hercules Silver CEO and director,
Chris Paul
. "We encourage investors to visit our newly
designed website and presentation on the project."
Exploration Update
The Company's surface-based exploration at the 100% owned Hercules Silver Property, located in
Washington County, Idaho
, USA (the "
Hercules Property
") is progressing well. Ongoing work
includes geochemical sampling, detail mapping and planning for a property-wide 3D IP geophysical
survey. The Company recently completed a follow-up soil survey on its new copper anomaly for
which assays are expected imminently. Field crews are now following up on new targets generated
by soil sampling with detailed chip and channel sampling of outcrops. The Hercules Property is
fortunate to have very good outcrop exposure, which allows for low-cost surface sampling of the
new targets. Over 1,000 rock chip samples are planned on a 50-meter grid pattern within the new
targets, permitting the Company to collect widespread bedrock geochemical data on surface ahead
of a drill program planned for later this year. This strategy will provide 2D geological and
geochemical data for the entire surface exposure of new targets, including lithology, alteration,
mineralization, as well as silver, copper, lead and zinc grades over kilometers of bedrock exposure.
This ongoing field program will allow the Company to map the geology and metal grades of the
surface in 2D, prior to defining the third dimension with drilling.
In addition to the widespread bedrock sampling and logging program currently underway, the
Company has also engaged Specialized Geological Mapping Ltd. of
Inverness, Scotland
to carry out
several weeks of detailed mapping. Scheduled to begin on
August 25, 2022
, the mapping will be
focused on the key structural controls and stratigraphy controlling mineralization which will be used
to form a predictive model for targeting potentially higher-grade portions of the system at depth.
Alteration and mineralization will be the focus at the new copper porphyry target, to help vector
towards the center of that system.
A property wide 3D induced polarization (IP) survey is scheduled to commence in late summer,
subject to contractor availability. Historical IP surveys effectively correlated high chargeability values
to silver mineralization at the Hercules Adit and Fishpond Zones and therefore it was selected as the
geophysical method of choice for the Hercules Property. The historical IP also indicated a strong
zone of chargeability coincident with the best silver-in-soil anomaly on the Hercules Property at the
Grade Creek Zone. The historical IP anomaly has never been tested by drilling and remains open to
the north and at depth. It will be included within the new, deeper seeking 3D survey to better define
its true geometry and extent. The copper anomaly discovered this year will also be covered to
investigate the potential for a large copper porphyry system. Altogether the survey will cover
approximately 2,500 acres of mineralized footprint to over 600 meters of depth, an incredibly large
volume of rock for an IP survey. Line lengths will be up to 5 kilometers.
About Hercules Silver Corp.
Hercules Silver Corp. is a junior mining company focused on the exploration and development of the
Hercules Silver Project, northwest of
Cambridge, Idaho
. The Company's management team brings
extensive and successful international experience with a focus on identifying and acquiring
prospective and under-explored precious metals properties worldwide. The board of directors have
an established track record of creating significant returns for investors and have demonstrated
access to capital to advance the development of assets.
Qualified Person
Exploration activities at the Hercules Property are administered on site by the Company's Vice
President of Exploration,
Antoine Soucy-Fradette
. In accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
,
Donald E. Cameron
, Technical Advisor to Hercules
Silver Corp. and an independent Qualified Person, has reviewed and approved the technical and
scientific content of this news release.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information"
with respect to the Company within the meaning of applicable securities laws. Such forward-looking
information involves known and unknown risks, uncertainties and other factors that may cause the
Company's actual results, performance or achievements, or developments in the industry to differ
materially from the anticipated results, performance or achievements expressed or implied by such
forward-looking information. Forward-looking information includes statements that are not historical
facts and are generally, but not always, identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
Although the Company believes the forward-looking information contained in this news release is
reasonable based on information available on the date hereof, by its nature, forward-looking
information involves assumptions and known and unknown risks, uncertainties and other factors
which may cause our actual results, level of activity, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks
and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse
industry events; the receipt of required regulatory approvals and the timing of such approvals; that
the Company maintains good relationships with the communities in which it operates or proposes to
operate, future legislative and regulatory developments in the mining sector; the Company's ability to
access sufficient capital from internal and external sources, and/or inability to access sufficient
capital on favorable terms; mining industry and markets in
Canada
and generally; the ability of the
Company to implement its business strategies; competition; the risk that any of the assumptions
prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks
associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the
possibility that results will not be consistent with the Company's expectations, as well as other
assumptions risks and uncertainties applicable to mineral exploration and development activities and
to the Company, including as set forth in the Company's public disclosure documents filed on the
SEDAR website at
www.sedar.com
.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS
PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.
READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER
DATE. WHILE HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE
THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE
WITH APPLICABLE LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE
Hercules Silver Corp.
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For further information:
Chris Paul, CEO & Director, Telephone +1 (604) 670-5527, Email:
CO: Hercules Silver Corp.
CNW 07:00e 24-AUG-22