Hercules Metals Intersects 480 Meters of 0.47% Cu, 82 ppm Mo, including 55 Meters of 1.5% Cu
Hercules Metals Intersects 480 Meters of
0.47% Cu, 82 ppm Mo, including 55 Meters of
1.5% Cu
Toronto, Ontario--(Newsfile Corp. - October 10, 2024) -
Hercules Metals Corp.
(TSXV: BIG) (OTCQB:
BADEF) (FSE: C0X)
("
Hercules Metals
" or the "
Company
") is pleased to announce multiple broad
copper intercepts from its Phase III drilling program on the newly discovered Leviathan porphyry copper
system in western Idaho ("
Hercules
" or the "
Property
").
Highlights
140-meter step-out delivers similar hypogene enrichment to discovery hole HER-23-05,
including 55 m of 1.5% Cu, within a broader intercept of 480 meters of 0.47% Cu, 82 ppm
Mo, representing the longest intercept reported to date.
Additional step-out holes planned to test its potential northeast-southwest trend
extending towards HER-24-12, as well as down-plunge to the southeast (Fig. 1).
Large step-out drilling outlines a 1.6 km x 1.1 km oval-shaped enrichment blanket which
remains open.
Drilling continues to vector toward the potassic core of the system and test for additional
centers to the east within a large untested soil anomaly.
Legacy Drilling has successfully completed the first RC hole to significant depth in
challenging ground, demonstrating the potential to increase drilling production and lower
the overall costs.
Drilling progresses with two diamond core rigs and one RC rig and remains financed
through to the end of 2025.
Chris Paul, CEO and Director of the Company, noted: "
We are pleased with the grade and continuity
returned over broad intervals in the system. The phyllic cap and hypogene enrichment blanket have
expanded now to 1.6 km x 1.1 km, leading to new interpretations of the potential geometry and scale
of the system. We've been able to work through drilling challenges faced at the start of the season and
are now seeing strong production with the addition of Legacy's RC rig. As production increases, it
continues to generate new targets and vector us toward the core of the system.
As drilling moves into new target areas, we're able to further test extensions of the widespread
hypogene enrichment blanket. Hypogene enrichment is a rare phenomenon that only occurs in a
small number of systems globally, but can often significantly upgrade the overall metal endowment. It
remains to be seen if it extends into an as yet undiscovered high-grade potassic core."
Table 1: Significant Intercepts
1
Hole ID
From (m)
To (m)
Interval (m)
Cu (%)
Ag (g/t)
Mo (ppm)
HER-24-01
256.37
411.24
154.87
0.44
10.87
64
including
256.37
339.85
83.48
0.67
18.88
67
including
256.37
286.51
30.14
1.11
48.48
32
HER-24-02
297.91
327.66
29.75
0.18
0.46
14
HER-24-03
207.9
224.52
16.62
0.47
0.67
6
HER-24-04
266.49
484.33
217.84
0.33
2.10
59
including
266.49
323.55
57.06
0.55
2.68
64
HER-24-06
471.53
509.32
37.79
0.53
17.9
97
AND
588.26
637.58
49.32
0.46
3.26
93
HER-24-08
242.32
721.77
479.55
0.47
0.67
82
including
242.32
388.62
146.3
0.84
0.77
61
including
242.32
296.88
54.56
1.47
0.95
39
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.
System remains open. Potential planned holes shown in white collars.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/226235_62343671b4d50968_002full.jpg
Figure 2: 1:6500 scale view of drill holes in Figure 1, showing section lines for Figures 3 and 4.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/226235_62343671b4d50968_003full.jpg
Figure 3: Cross-section A - A' showing southwest dipping cover, erosional surface, leach cap
and parallel enrichment blanket. The late porphyry dykes dip out of the page to the southeast,
but have an apparent parallel dip as shown due to the orientation of the cross section.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/226235_62343671b4d50968_004full.jpg
Figure 4: Cross-section B - B' showing southwest-dipping unconformity. The thickest leach
cap observed lies below 23-21, but pinches out by 24-06. The late porphyry thickens below 23-
21 and dips out of the page to the southeast. The thickest bornite ever intercepted at Hercules
occurs as a wedge of enrichment and possible relict potassic alteration above the late
porphyry in 23-21. It was affected by leaching from above and therefore copper grades were
not as high as other holes. It was then truncated by the late porphyry below. Planned holes will
now test if the bornite wedge thickens down plunge to the southeast, as it departs from the
thick leach cap and the top of the late porphyry dips deeper.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/226235_62343671b4d50968_005full.jpg
Spectral and Veining
Spectral readings taken throughout the porphyry system show a discernible pattern of increasing
alteration temperature to the south and southeast. Drill holes HER-24-01 through -03, and 24-15
intersected low temperature phyllic and minor advanced argillic alteration, typical of the shallowest parts
of a porphyry system. Veining in these holes is characterized by intense "D" vein stockworks, also typical
of the margins of the system. Holes drilled to the south and southeast however intersect progressively
higher temperature phyllic, and even observable relict potassic alteration. Densities of early quartz veins
also increase in direct association with the increasing alteration temperatures. This pattern suggests that
the Leviathan porphyry system has been tilted to the northwest.
Porphyry Intrusions
A quartz porphyry intrusion, interpreted to be a late phase of the porphyry system, is intersected in a
number of drill holes. Preliminary modeling suggests a southeast plunging geometry, consistent with the
interpretation that the system is tilted to the northwest. It also appears to pinch out to the northwest in a
series of finger-like dykes. The late quartz porphyry is slightly grade dilutive relative to the volcanic wall
rock, and drilling aims to target near its margins, or in its hanging wall, as it plunges off to the southeast.
It should be noted that drilling has not yet identified the earliest porphyry intrusion, which is typically the
highest grade and introduces the bulk of copper mineralization early in porphyry systems.
Drill Hole Summaries
HER-24-08 intersected strong mineralization in a 140-meter step-out northeast from 23-05. A trend of
prospective mineralization has been noted from other holes drilled to the northeast, including HER-24-
12. Additional drilling is warranted to test if the trend continues northeast of 24-12. Three core holes,
HER-07, HER-24-09 and 24-09b, were lost in Jurassic cover, with HER-24-09 testing a step-out to the
southwest of 23-05. Legacy's RC drill will use the same pad to test the southwest extension of the trend.
HER-24-12 did not intersect late quartz porphyry, which adds to the targets prospectivity.
HER-24-01 was drilled into a low temperature halo of D veining to the northwest, but also overlapped the
margin of the enrichment blanket and graded 155m of 0.44% Cu and 11 g/t Ag, including 30m of 1.11%
Cu and 48 g/t Ag.
HER-24-04 intersected late quartz porphyry, grading 0.33% Cu over 218m, including 57m of 0.54% Cu
within the enrichment blanket.
HER-24-05 was drilled into a circular chargeability low and intersected a low-grade plug of late quartz
porphyry, with trace copper sulfide. High barren quartz vein densities in the plug suggest a potential
deep core may have been faulted in here.
HER-24-06 tested a chargeability high outside of HER-24-05 and encountered hypogene enrichment
followed by a short interval of late porphyry. Copper grade increases after exiting late porphyry into
biotite altered volcanics. A badly damaged post-mineral fault zone forced the hole to be terminated in
0.6% Cu.
Silver-Lead-Zinc in Jurassic Cover Sequence
Broad zones of disseminated silver-lead-zinc occur within the Hercules Rhyolite, an important unit of the
Jurassic cover sequence. Although no longer the primary target, with commodities prices on the rise, the
near surface silver mineralization may play an important role in potential future development scenarios.
Table 2: Silver-Lead-Zinc in Cover Sequence
Hole ID
From (m)
To (m)
Interval (m)
Ag (g/t)
Pb (%)
Zn (%)
Pb+Zn (%)
HER-24-01
72.76
258.59
185.83
28.78
.09
.28
0.37
including
72.76
131.37
58.61
67.89
.28
.86
1.14
including
78.85
89.52
10.67
205.04
0.40
0.48
0.88
HER-24-04
118.45
133.65
15.20
24.40
0.21
1.29
1.50
HER-24-05
312.88
317.91
5.03
93.01
-
-
-
HER-24-08
3.02
96.68
93.66
9.88
0.19
0.17
0.36
including
42.4
96.7
54.30
13.04
0.25
0.13
0.38
Table 3: Reported Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Depth (m)
Azimuth
Dip
HER-24-01
511023
4956683
1288
411.2
114.9
-69.7
HER-24-02
511283
4956956
1354
411.5
115.4
-70.2
HER-24-03
511132
4956841
1277
516.3
115.12
-69.8
HER-24-04
511203
4956466
1359
484.3
90.17
-68.4
HER-24-05
511237
4955710
1255
601.0
59.6
-75.3
HER-24-06
511206
4956076
1361
637.6
239.36
-75.6
HER-24-08
511289
4956754
1364
721.8
81.5
-70.2
Sample Analysis and QAQC
All drill core samples were prepped and analyzed at MSA Labs in Langley, British Columbia, an ISO
17025 and ISO 9001 certified laboratory. Samples were dried and crushed to 2mm, from which a 250g
sub-sample split was then pulverized to 85% passing a 75 micron sieve. Following preparation, assays
were determined by the IMS-230 method. A 0.25g aliquot of the prepared pulp was digested in a 4-acid
solution consisting of hydrochloric, nitric, perchloric and hydrofluoric acids. 4-acid is a near total digest
and only the most highly resistant minerals are not dissolved. The resulting solution was analyzed via
ICP-MS and ICP-ES for 48 elements and was corrected for inter-element spectral interferences.
Lower
detection limits for this procedure are 0.01 ppm for silver, 0.5 ppm for lead, 2 ppm for zinc, and 0.2 ppm
for copper. Mercury is not reported due to volatilization in reaction with hydrofluoric acid and gold is not
reported due to the small, 0.25g aliquot size being insufficient to overcome the nugget effect.
Gold was analyzed by FAS-111, a 30-gram fire assay fusion with AAS finish. No significant results were
reported.
Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by
procedures ICF-6Ag, ICF-6Cu, ICF-6Pb and ICF-6Zn.
The thresholds are 100 ppm for silver, and >1%
for copper, lead and zinc.
MSA Labs employs internal quality control standards, duplicates and blank samples at set frequencies.
Blind certified reference materials (CRMs) and blank samples were systematically inserted by the
Company into the sample stream and analyzed as part of the Company's quality assurance/quality
control protocol.
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
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. 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-
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