Hercules Intersects Shallow Porphyry Mineralization and New Hydrothermal Breccia
Hercules Intersects Shallow Porphyry
Mineralization and New Hydrothermal Breccia
Toronto, Ontario--(Newsfile Corp. - November 4, 2024) -
Hercules Metals Corp.
(TSXV: BIG)
(OTCQB: BADEF) (FSE: C0X)
("
Hercules Metals
" or the "
Company
") is pleased to provide an
update on recent drilling as further assay results remain pending at the Leviathan porphyry copper
system in western Idaho ("
Hercules
" or the "
Property
"). RC drilling has advanced rapidly with three
holes completed and a fourth in progress, including HER-24-17 being completed to 975m. Three new
holes stepped to the southeast, HER-24-19 through -21, all intersected early biotite alteration with
mineralization beginning progressively closer to surface, starting as early as 72m true depth in hole 24-
20. The depth to mineralization continues to shallow toward a large untested copper anomaly at surface
to the east.
Highlights
Mineralization begins at 72m depth in HER-24-20 and remains open toward a large
surface anomaly.
Mineralized early biotite alteration intersected in 3 new holes to the southeast - and
potentially plunging under HER-23-14, previously thought to be the edge of the system.
A separate zone of early biotite was also encountered at depth in holes HER-24-08 and
HER-24-12, which may be related to a separate intrusive center to the north.
New magmatic-hydrothermal breccia pipe discovered by HER-24-20 represents a new
target type, with vertically extensive potential.
Mineralized envelope continues to expand - remains open in multiple directions.
RC drilling continues to provide additional value, testing new targets rapidly, both pre-
collar and otherwise.
Figure 1: Drill Plan with grade bars for copper (orange) and molybdenum (blue) for holes with
assays received. Approximate surface projection of enrichment blanket shown in orange.
Outline of early biotite alteration in purple.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/228739_7e2c759c742978c7_002full.jpg
Geological Summary
Drill holes HER-24-19 through -21 begin in shallow phyllic alteration associated with the enrichment
blanket and transition with depth into varying degrees of biotite alteration consistent with an outer
potassic shell. These new holes have significantly expanded the zone of early biotite alteration which
shows increasing strength toward the south.
Of note is a separate zone of early biotite encountered at depth in holes HER-24-08 and HER-24-12
which have the potential to be related to a yet undiscovered intrusive center to the north.
HER-24-05 encountered a plug of late porphyry associated with a chargeability low, however high
chargeability continues further south of Camp Creek and remains to be tested. Core drilling failed to
reach the unconformity at this southern target but depending on weather conditions, Legacy Drilling may
be able to test for further extensions of the system in this direction.
Legacy was able to complete HER-24-17 to the maximum working depth capacity of the RC rig at 975 m
in very challenging ground conditions. The alteration encountered will be interpreted once geochemical
and spectral results have been received and processed on the fine chips.
HER-24-19 and -21 both intersected enrichment blanket followed by intermediate sulfidation pyrite-
chalcopyrite which remains open down plunge to the southeast. HER-23-14 was drilled at a shallow
angle to the southeast in 2023, which is now interpreted to be subparallel with the plunge of the system.
This may explain why the hole remained in the same distal alteration it started in, throughout its length.
Future drilling will test underneath 23-14 by drilling northwest, against the plunge of the system.
Prior to entering the enrichment blanket, HER-24-20 intersected a compelling new magmatic
hydrothermal breccia from 76m to 157m downhole, representing the first of its kind to be intercepted at
Hercules. The breccia consists of strongly veined clasts of porphyry and wall rock within a fine chloritic
matrix that becomes progressively more intrusive in nature near its footwall contact. Intermediate
sulfidation pyrite-chalcopyrite mineralization occurs in the latter half of the intercept, within the matrix as
well as clasts, and appears to increase in intensity downwards. The hole currently remains in progress in
early biotite alteration.
Figure 2: Examples of hydrothermal magmatic breccia intersected from 76m to 157m in HER-
24-20. Bottom photo - chlorite altered hydrothermal matrix. Top photo - oxidized/hematitic
matrix. Clasts exhibit strong quartz vein stockworks.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/228739_herculesrock.jpg
Core photographs for the breccia intercept in HER-24-20 can be viewed on the Company's website at
the following link:
https://www.herculesmetals.com/hercules/core-photos/
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 Metals within the meaning of National Instrument 43-101 -
Standards of
Disclosure for Mineral Projects
.
About Hercules Metals Corp.
Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) is an exploration Company focused
on developing Idaho's newest copper and silver district.
The 100% owned Hercules Project located northwest of Cambridge, hosts the newly discovered
Leviathan porphyry copper system, one of the most important discoveries in the region to date. The
Company is well positioned for growth through continued drilling, supported by extensive historical and
current exploration and a strategic investment by Barrick Gold.
With the potential for significant scale, the Company's management and board of directors aims to build
on its proven track record which includes the discovery and development of numerous precious metals
projects worldwide.
For further information please contact:
Nisha Hasan
Investor Relations
Telephone +1 (604) 425-1408
Email:
Chris Paul
CEO & Director
Telephone +1 (604) 670-5527
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
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"would," "may," "could" or "should" occur. Forward-looking information contained in this press release
may include, without limitation, the expected execution of future exploration programs on the Property;
assay results of future drill holes; results of operations, and the expected financial performance of the
Company.
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-
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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 METALS AS OF THE DATE OF THIS
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WITH APPLICABLE LAWS.
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