Hercules Silver Commences 6,000 Meter Phase II Drill Program Commenced core drilling at Hercules Property Construction of logging facility completed Phase II drill program now underway, focused on the following targets:
Hercules Silver Commences 6,000 Meter
Phase II Drill Program
Commenced core drilling at Hercules Property
Construction of logging facility completed
Phase II drill program now underway, focused on the following targets:
1
.
Hercules Adit and Frogpond Zones:
Step-out holes aiming to extend mineralization, as
well as infill and further verify historical drilling results;
2
.
Hercules Rhyolite:
Robust silver targets identified through surface mapping, geophysics
and geochemistry, including at the Hinge, Haystack and Belmont Zones;
3
.
New porphyry copper-silver (+/- gold) target: I
nterpreted as the center of a large zoned
system and feeder for the surrounding silver (+/-lead-zinc) hosted in the Hercules Rhyolite;
4
.
Large-scale untested chargeability anomaly at depth, potentially representing a large
body of strong sulfide mineralization
Toronto, Ontario--(Newsfile Corp. - May 31, 2023) -
Hercules Silver Corp.
(TSXV: BIG) (OTCQB:
BADEF) (FSE: 8Q7)
("
Hercules Silver
" or the "
Company
") is pleased to report that it has mobilized
an Atlas Copco CS-14 core drilling rig and commenced drilling the first hole in an extensive 6,000 meter
drill program at the Company's wholly-owned Hercules Silver Property in western Idaho (
"Hercules"
or
the
"Property"
). Timberline Drilling of Hayden, Idaho has been contracted to carry out the program,
which will consist of step-out holes designed to test for extensions of historical mineralization, verify
previous historical drilling and test a series of new targets generated by greenfields exploration.
Since acquiring the project in 2021, the Company has consolidated what was historically a fragmented
land package, with several different companies holding different parts of the system throughout the
1970's-1980's. An 18-month-long greenfields targeting program, consisting of mapping, soil sampling,
and rock sampling, has since revealed the presence of a large zoned system, with many portions
remaining to be tested, including a potentially large-scale copper-silver-gold porphyry feeder target. The
Phase II drill program will not only explore multiple new surface targets but will also test the system with
angled holes up to 550 meters long, significantly deeper than the average 92-meter length of historical
drill holes. The drilling will be done using triple-tube barrels for enhanced recovery and a core orientation
tool for attaining the strike and dip of mineralization. This will not only increase the probability of success
but will also improve the efficiency of drilling operations overall. The current Phase II drill plan is illustrated
in Figure 1 below.
Figure 1: Phase II Drill Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_d90227510480c8fa_002full.jpg
Management Commentary
Chris Paul, CEO and Director of the Company, noted: "
We are excited to be underway on our first core
drilling program at Hercules; a long-awaited milestone and the culmination of almost two years of
extensive surface exploration. Exploration technology has advanced significantly since the 1980s,
when economic studies were last underway following the completion of over 300 historical drill holes.
At that time, a crash in the price of silver had forced the previous operators to put small-scale open pit
development plans on hold. More than 30 years later, we've significantly increased the Property
holdings, carried out modern, systematic exploration on the consolidated land package, and identified
the presence of a much larger zoned system. Our 3D geological model suggests that the historical
drilling only tapped into the shallow and distal parts of the system. We are now entering potentially the
most exciting period in the history of Hercules Silver, and an important step towards delivering
significant value for our shareholders."
Phase II Drill Plan Summary
The details of the Phase II drill plan were released on May 8, 2023 and are repeated again below for
reference.
Table 1: Phase II Planned Drill Holes
Zone
Hole ID
Easting
Northing
Azimuth
Dip
Hole Length (m)
ADT-23-01
511075
4956964
80
55
80
ADT-23-02
511129
4957008
200
70
120
ADT-23-03
511129
4957008
195
82
120
HERCULES ADIT
ADT-23-04
511129
4957008
35
87
130
ADT-23-05
511129
4957008
20
73
160
ADT-23-06
511160
4957067
340
88
180
ADT-23-07
511160
4957067
80
76
130
ADT-23-08
511132
4957111
110
87
210
ADT-23-09
511132
4957111
110
72
200
TOTAL HERC ADIT
1330
FROGPOND
FRG-23-01
511425
4956617
210
78
140
FRG-23-02
511266
4956664
31
60
60
FRG-23-03
511256
4956646
31
60
70
FRG-23-04
511231
4956637
69
69
375
FRG-23-05
511038
4956638
0
90
130
FRG-23-06
511338
4956553
30
45
100
FRG-23-07
511287
4956587
30
65
150
FRG-23-08
511338
4956554
50
52
150
TOTAL FROGPOND
1295
HINGE
HNG-23-01
510895
4956812
70
45
300
HNG-23-02
511356
4956858
100
45
400
HNG-23-03
511420
4956757
250
45
100
TOTAL HINGE
800
HAYSTACK
HAY-23-01
511579
4956352
50
60
400
HAY-23-02
511338
4956553
30
45
75
TOTAL HAYSTACK
475
METHENY
MET-23-01
511941
4956216
50
45
550
TOTAL METHENY
550
BELMONT
BEL-23-01
511447
4955609
102
45
110
BEL-23-02
511447
4955609
70
45
90
BEL-23-03
511447
4955609
152
45
100
BEL-23-04
511447
4955609
100
65
125
BEL-23-05
511833
4955730
35
60
400
TOTAL BELMONT
825
LIGHTNING
LIT-23-01
512162
4955444
22
45
500
LIT-23-02
512162
4955444
65
45
500
TOTAL LIGHTNING
1000
TOTAL METERS - ALL ZONES
6,155
Zone
Hole ID
Easting
Northing
Azimuth
Dip
Hole Length (m)
Silver-Lead-Zinc Targets
Hercules Adit/Frogpond Zones
1
.
Testing extensions of the Hercules Adit and Frogpond Zones along strike and at depth, including
vertical structures and high-grade shoots which may have been missed by the vertical historical
drilling. Two holes will test for the extension of a mineralized shoot that appears to have been
down-dropped at the east end of the Frogpond Zone and partially intersected by historical drillhole
83-5. Hole 83-5 intersected 25.9 meters of 85 g/t Ag, 1.70% Pb and 2.09% Zn
1
from 86.9 to 112.8
meters and remains open at depth and to the east.
2
.
Verifying and potentially extending silver mineralization intersected at depth on the west end of the
Frogpond Zone. Historical drillhole 83-16, one of the deepest holes drilled on the Property, was
halted due to caving ground at 420 feet (~128 meters), with the final 7.6 meters grading 214 g/t Ag,
0.13% Pb and 0.17% Zn
1
. Re-entry at the time was unsuccessful, and the deep intercept was not
further tested.
Haystack Zone
3
.
Testing mineralization discovered during a 2022 surface rock chip sampling program on the west
side of the Haystack Zone, which is associated with a near-surface vertical chargeability anomaly.
4
.
Testing a separate zone of mineralization at the east end of the Haystack Zone, associated with a
similar near-surface vertical chargeability anomaly. A single vertical hole in the area, RDH-7,
returned 16.8 meters grading 149 g/t Ag, 0.13% Pb and 0.1% Zn
1
. The planned hole depth is 550
meters, to also allow testing of the large-scale chargeability anomaly shown below in Figure 2.
Figure 2: Vertical Section Showing Deep Drill Holes Relative to Large-Scale Chargeability
Anomaly, Looking West
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_d90227510480c8fa_003full.jpg
Hinge Zone
5
.
Two holes within the folded hinge area of the Hercules Rhyolite, with strong rock chip sample
grades and a near-surface chargeability anomaly. The holes will be drilled in opposite directions,
to determine the dip of the mineralization. The eastward hole will be extended to 400 meters, to
also test the large-scale chargeability anomaly shown in Figure 2 above.
6
.
A potential third hole will be drilled into the fold hinge, from a quartz-alunite-dickite-pyrophyllite
altered breccia zone (Photo 1) located to the west of all historical drilling. This is a unique
advanced argillic alteration assemblage which typically forms a cap over epithermal and porphyry
type mineralization and is not seen elsewhere on the Property. Drilling underneath this advanced
argillic breccia may lead to a discovery of new mineralization.
Photo 1: Quartz-Alunite-Dickite-Pyrophyllite (Advanced Argillic) Breccia
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_herculesphoto1.jpg
Belmont Zone
7
.
Up to 4 holes fanned from a single pad at the Belmont Zone, to test various mineralized structures
associated with high-grade rock chip samples and a 1970 historical drill hole (DDH-6) which
intersected 83 g/t Ag and 0.25% Zn over 20 meters
Error! Bookmark not defined.
from surface
and 93 g/t Ag over 8 meters
Error! Bookmark not defined.
deeper in the hole.
Porphyry Copper-Silver-Gold Targets
8
.
A 400-meter hole planned in the eastern part of the Belmont Zone to test the southern end of the
large-scale chargeability anomaly shown in Figure 2 above. Certain mineral systems, including
porphyry coppers, are often surrounded by high-chargeability clay-sericite-pyrite halos. The hole is
designed to test both the high-chargeability zone as well as potentially higher-temperature parts of
the system underneath and/or adjacent to it.
Metheny Zone
9
.
A 550-meter hole planned at the Metheny Zone, to test a quartz-feldspar porphyry with dimensions
of approximately 850 m x 550 m on surface, associated with strong copper-silver-gold grades and
lenses of skarn-type mineralization (Photos 2-7). The Metheny Zone lies east of the limit of the
2022 3D IP survey, however the large-scale chargeability anomaly shown in Figure 2 is centered
immediately west of - and likely projects into - the Metheny Zone.
Photo 2: Quartz-Feldspar Porphyry grading 4.3% Cu, 50 g/t Ag
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_herculesphoto2.jpg
Photo 3: Hematite altered Quartz-Feldspar Porphyry grading 1.5% Cu, 19 g/t Ag, 0.7 g/t Au
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_herculesphoto3.jpg
Photo 4: Quartz-hematite altered Quartz-Feldspar Porphyry grading 2.9% Cu, 79 g/t Ag, 0.1 g/t
Au
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_herculesphoto4.jpg
Photo 5: Specularite altered Quartz-Feldspar Porphyry/Skarn grading 9.4% Cu, 1,085 g/t Ag,
4.5 g/t Au
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_herculesphoto5.jpg
Photo 6: Massive specularite altered Quartz-Feldspar Porphyry/Skarn grading 0.2% Cu, 359 g/t
Ag, 1.7 g/t Au
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_herculesphoto6.jpg
Photo 7: Quartz specularite vein with colloform textured quartz matrix breccia, hosted in
Quartz-Feldspar Porphyry grading 0.15% Cu, 9 g/t Ag, 1.2 g/t Au
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/168115_herculesphoto7.jpg
Lightning Zone
10
.
Two 500-meter holes testing a strongly-altered hydrothermal breccia pipe, the Lightning Breccia,
which may be a key indicator of a buried porphyry copper system. The Lightning breccia consists
of hydrothermal quartz/silica clasts, brought up from depth within a surrounding matrix that's rich in
oxidized sulfide mineralization (goethite) (Photos 8-12). The Lightning breccia is associated with a
strong copper-gold-silver (+bismuth-tellurium-selenium) geochemical anomaly and has never been
drilled. The quartz clasts may represent fragments of a silicified carapace (cap of an intrusion),
which were transported upwards during an explosive brecciation event. The pipe may therefore
root down into a mineralized porphyry at depth.