Hercules Adds Second Drill Rig to Phase II Drill Program Seven drill holes completed to date, with silver mineralization observed in all holes (HER- 23-01 to HER-23-07), and assays currently pending; Oriented core drilling demonstrates a potential northwest-southeast control to higher-
Hercules Adds Second Drill Rig to Phase II
Drill Program
Seven drill holes completed to date, with silver mineralization observed in all holes (HER-
23-01 to HER-23-07), and assays currently pending;
Oriented core drilling demonstrates a potential northwest-southeast control to higher-
grade silver mineralization within Frogpond, suggesting the potential to extend
mineralization between historical zones;
First deep hole completed into the western margin of a large chargeability anomaly
announced last year, drill hole HER-23-05, intersected alteration and veining consistent
with the outer margins of a potential porphyry copper system;
Due to the new style of alteration intersected, HER-23-05 was drilled beyond its original
planned depth, to a total of 435 meters;
A second deep hole is currently in progress, HER-23-08, collared approximately 185
meters northeast of HER-23-05, to further investigate the potential of the chargeability
anomaly;
The chargeability anomaly spans approximately 1.8 kilometers north-south and remains
open to the east, where widespread copper mineralization and porphyry style alteration
has been noted on surface;
The Company has elected to add a second drill rig to the Property to allow testing of both
near surface silver mineralization as well as potential additional mineralization at depth;
Toronto, Ontario--(Newsfile Corp. - July 28, 2023) -
Hercules Silver Corp.
(TSXV: BIG) (OTCQB:
BADEF) (FSE: 8Q7)
("
Hercules Silver
" or the "
Company
") is pleased to report on progress from its
Phase II drill program at the Hercules Property in western Idaho (
"Hercules"
or the
"Property"
). Drill
holes HER-23-01 to HER-23-07 have been completed within the Frogpond Zone, intersecting varying
oxidized and dark grey to black silver-bearing sulfide mineralization within the Hercules Rhyolite host
unit. Mineralized veins within the Frogpond Zone show a northwest-southeast trend, as determined from
measurements of oriented drill core. Further drilling along this trend is planned, following the receipt of
assays from current drill holes.
Drill hole HER-23-05 intersected strong silver-bearing mineralization in the near surface and was
continued to depth to test the western limit of a large chargeability anomaly. The anomaly was uncovered
by a 3D IP survey carried out over the silver-bearing Hercules Rhyolite host unit at surface on the west
side of the Property. The survey however returned a large chargeability anomaly below the limit of
historical drilling and the interpreted base of the Hercules Rhyolite. The cause of such a large anomaly at
depth was unknown at the time, however HER-23-05 intersected phyllic alteration, veining, and
mineralization, consistent with the outer margins of a porphyry copper system, beginning at the top of the
chargeability anomaly. It was therefore elected to continue drilling beyond HER-23-05's planned depth.
Phyllic alteration is dominated by pyrite and lesser chalcopyrite, but typically occurs around a higher-
grade core of potassic alteration with stronger chalcopyrite mineralization. The chargeability anomaly
increases in thickness towards the east where it currently remains open toward stronger copper
mineralization at surface. A second drill rig has been added and a second deep drill hole is currently in
progress, collared 185 meters to the northeast of HER-23-05. Figure 1 below shows the location of
HER-23-05 relative to the anomalous chargeability and copper values at surface. The chargeability
anomaly remains open to the east and the Company is currently planning a potential expansion of the
survey up to 2 kilometers east.
Figure 1: HER-23-05 drill trace relative to widespread copper mineralization at surface and a
250m depth slice through the chargeability anomaly which remains open to the east with
further surveying planned
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/175193_6542ec92841b0b8e_002full.jpg
Management Commentary
Chris Paul, CEO and Director of the Company, noted: "
We're pleased with how our Phase II drill
program is progressing and excited to have a second rig now on site. The silver mineralization we've
intersected throughout the Frogpond Zone has provided us with excellent structural information and
indications of a potential extension of the zone. We look forward to further extending our drilling within
the near surface silver environment as well as further testing of the exciting new chargeability anomaly
at depth."
Silver Mineralization
Oriented structural measurements of dark grey sulfide veining indicate a northwest-southeast trend to the
silver mineralization. Figure 2 illustrates a potential corridor of higher silver grades within the Frogpond
Zone that may extend northwest to the Hercules Adit Zone and southeast to the Haystack Zone. Large
gaps in the historical drilling remain untested between the zones. The historical drilling was designed for
resource definition (shallow vertical holes in a grid pattern), and little attention was paid to the controls on
mineralization. The 2023 drill program is utilizing rigs capable of oriented core, allowing for a better
understanding of the structural controls that will potentially extend the zones along strike and at depth.
Assays are currently pending for HER-23-01 to HER-23-07, the results of which will further optimize the
next round of step-out targets.
Table 1: Phase II Completed Drill Holes
Zone
Hole ID
Easting
Northing
Azimuth
Dip
Hole Length (m)
FROGPOND
HER-23-01
511432
4956616
210
-76.7
148.71
HER-23-02
511342
4956557
30
-44.9
83.48
HER-23-03
511341
4956558
42
-57.3
139.32
HER-23-04
511289
4956584
30
-70.4
71.93
HER-23-05
511231
4956639
70
-70.1
435.32
HER-23-06
511265
4956663
30
-60
60
HER-23-07
511256
4956646
31
-60.3
108.51
Figure 2: Surface projection of drill traces HER-23-01 to HER-23-07 in the Frogpond Zone, with
drill traces coloured blue for near-surface silver targets and orange for the underlying
chargeability target in HER-23-05. The interpreted northwest-southeast corridor of higher-
grade silver is shown in dashed blue lines, near surface chargeability overlain in transparent.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/175193_6542ec92841b0b8e_003full.jpg
Second Drill Added
Based on a pattern of alteration observed at depth, the Company has made the decision to add a
second drill rig to allow further testing of the large chargeability anomaly at depth. The first drill rig will
continue to investigate the large chargeability anomaly with significant step outs of several hundred
meters to the east and south, while the second drill rig will remain focused on the primary silver targets in
the near surface environment. The next deep drill hole in sequence (HER-23-08) is utilizing an existing
drill pad approximately 185 meters to the northeast of HER-23-05 and is favorably oriented to intersect a
vein orientation measured in the deeper parts of HER-23-05 (Figure 3).
Figure 3: Surface projection of drill traces HER-23-01 to HER-23-07 in the Frogpond Zone with
drill traces coloured blue for near-surface silver targets and orange for the underlying
chargeability target in HER-23-05. The interpreted northwest-southeast corridor of higher-
grade silver is shown in dashed blue lines, with the orange dashed lines representing the
outline of the chargeability anomaly at depth, shown in transparent pink.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/175193_6542ec92841b0b8e_004full.jpg
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for
disclosure by Christopher Longton BS, CPG, Hercules' Vice President, Exploration. Mr. Longton is a
"Qualified Person" for Hercules Silver within the meaning of National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101").
About Hercules Silver Corp.
Hercules Silver Corp. is a junior mining company focused on the exploration and development of the
100% owned Hercules Silver Project, northwest of Cambridge, Idaho.
The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling
across 3.5 kilometers of strike. The Company is well positioned for growth through the drill bit in 2023,
having completed extensive surface exploration in 2022 consisting of soil & rock sampling, geological
mapping, IP geophysics, and a 9-hole drill program.
The Company's management team brings significant exploration experience through the discovery and
development of numerous precious metals projects worldwide.
For further information please contact:
Chris Paul
CEO & Director
Telephone +1 (604) 449-6819
Email:
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. Any securities referred to herein have not and will not be registered under
the United States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws of an exemption from such
registration is available.
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.sedarplus.ca
.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/175193