Hercules Silver Drills 38 Meters of 487 g/t Silver Equivalent in Maiden Drill Program Strong grade over multiple significant intervals, including drill hole HER-22-01, the first hole of the program, which intercepted 38 meters of 353 g/t Ag, 0.64% Pb, 2.28% Zn and
Hercules Silver Drills 38 Meters of 487 g/t
Silver Equivalent in Maiden Drill Program
Strong grade over multiple significant intervals, including drill hole HER-22-01, the first
hole of the program, which intercepted 38 meters of 353 g/t Ag, 0.64% Pb, 2.28% Zn and
0.16% Cu (487 g/t AgEq), beginning at a shallow depth of 26 m depth in first drill hole,
HER-22-01.
HER-22-01 included a higher-grade intercept of 4.57 m grading 791 g/t Ag, 1.25% Pb,
4.06% Zn and 0.18% Cu (1,021 g/t AgEq) starting at 29 m.
HER-22-07 intersected 44.2 m grading 224 g/t Ag, 0.32% Pb, 0.38% Zn and 0.09% Cu (258
g/t AgEq) starting at 1.5 m.
Drilling grades significantly exceed grades sampled at surface, supporting the concept of
potential supergene enrichment of mineralization below surface.
Confirmed the presence of a high-grade shoot (the P-19 Shoot) at the east end of the
Frogpond Zone; open at depth to the east.
Confirmed the presence of shallow, high-grade mineralization at Frogpond and Hercules
Adit Zones, with additional follow-up planned for Phase II.
Utilized small, low-cost scout drill for preliminary Phase I drilling with multiple holes
bottoming in mineralization.
Gained in-depth geological information to guide an expanded 3,000-meter Phase II core
drilling program, scheduled for spring 2023.
Toronto, Ontario--(Newsfile Corp. - February 28, 2023) -
Hercules Silver Corp.
(TSXV: BIG) (OTCQB:
BADEF) (FSE: 8Q7)
("
Hercules Silver
" or the "
Company
") is pleased to announce Phase I drill
results from its Hercules Silver Property located in western Idaho ("
Hercules
"
or the "
Property
"). The
Company's maiden drill program was designed to test and validate significant silver reported in
historical drilling at the Property's Frogpond and Hercules Adit Zones, as well as copper, lead and zinc,
which were historically only selectively assayed for.
Subsurface drilling grades significantly exceed the grades sampled at surface within both zones,
supporting the concept of potential supergene enrichment below surface. The Phase I program utilized a
small, low-cost scout drill to gain important geological and analytical information, which will further guide
an expanded Phase II 3,000-meter core drilling program.
The preliminary drilling results are in line with historically reported grades and widths and provide the
Company with confidence in the large-scale exploration potential at Hercules moving forward.
Table 1: Phase I Drill Intercepts Calculated at 35 g/T AgEq Cutoff Grade
1
Hole ID
From (m)
To (m)
Interval (m)
Ag (g/t)
Cu (%)
Pb (%)
Zn (%)
AgEq
[2]
(g/t)
AgEq
2
x
Meters (g/t x
m)
HER-22-01
25.91
64.01 (EOH)
38.10
353
0.16
0.64
2.28
487
18,562
Including
28.96
33.53
4.57
791
0.18
1.25
4.06
1,021
4,669
HER-22-02
48.77
56.39
7.60
52
0.03
0.08
0.45
75
575
HER-22-03
4.57
21.34
16.76
54
0.03
0.08
0.17
65
1,097
HER-22-04
6.10
12.19
6.10
40
0.01
0.17
0.18
51
309
HER-22-05
30.48
131.06
100.58
58
0.02
0.41
0.78
105
10,554
Including
103.63
112.78
9.14
134
0.04
1.78
1.04
234
2,142
Including
118.87
123.44
4.57
345
0.06
0.61
0.81
404
1,849
HER-22-06
24.38
59.44
35.05
38
0.01
0.49
0.80
87
3,055
Including
39.62
47.24
7.62
93
0.03
1.69
0.75
176
1,338
AND
76.20
92.96 (EOH)
16.76
16
0.01
0.16
0.57
47
781
HER-22-07
1.52
45.72
44.20
224
0.09
0.32
0.38
258
11,417
Including
6.10
25.91
19.81
398
0.07
0.44
0.16
426
8,432
HER-22-08
3.05
60.96 (EOH)
57.91
124
0.05
0.18
0.51
157
9,083
Including
39.62
60.96 (EOH)
21.34
252.3
0.08
0.31
0.51
293
6,253
Including
42.67
53.34
10.67
384.2
0.14
0.44
0.62
440
4,694
HER-22-09
24.38
60.96 (EOH)
36.58
292.4
0.13
0.53
1.37
382
13,977
Including
35.05
45.72
10.67
750.6
0.33
1.10
2.36
921
9,830
Management Commentary
Chris Paul, CEO and Director of the Company, noted: "
The lengths and grades we are seeing near
surface at Hercules are remarkable. Broad intervals of intensely altered and mineralized Hercules
Rhyolite indicate the presence of a significant silver system, with surface data suggesting we have
intersected the top of a large, concentrically zoned porphyry copper-epithermal system. The Phase I
results so far are in line with historical drilling and indicate the potential to incorporate large volumes
of previous drilling data into future resource calculations. Validating such data, which has a
substantial replacement cost, could potentially add significant value to the project. The preliminary
results so far suggest good continuity within mineralized zones which remain open along strike and at
depth. We look forward to initiating our maiden core drilling program later this spring, to further
delineate these zones and test our conceptual model of a zoned porphyry copper-epithermal system
at Hercules."
Figure 1: Phase I Drill Plan and Surface Geology
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/9425/156441_942c8af1840109fc_002full.jpg
P-19 Shoot
Drill Hole HER-22-01 intersected 38 meters grading 353 g/t Ag, 0.64% Pb, 2.28% Zn and 0.16% Cu
(487 g/t AgEq), beginning at 27 meters depth. The hole was stopped short of its target depth ("TD") due
to the limited depth capacity of the scout drill utilized. The hole ended in Hercules Rhyolite and confirms
the presence of a high-grade shoot, now termed the P-19 Shoot after the historical Anglo-Bomarc hole
that discovered it. Data suggests the potential for the P-19 Shoot to extend at depth to the east, where it
appears to have also been intersected near the bottom of historical hole 83-5.
Figure 2: Section A-A' - P-19 Shoot Looking North
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/9425/156441_942c8af1840109fc_003full.jpg
Figure 3: P-19 Shoot Drillholes- Plan View
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/9425/156441_942c8af1840109fc_004full.jpg
Figure 4: Section B-B' - Hercules Adit Zone Looking Southeast
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/9425/156441_942c8af1840109fc_005full.jpg
Figure 5: Section C-C' - HER-22-03/04 - Low-Grade Halo Confirmation Holes
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/9425/156441_942c8af1840109fc_006full.jpg
Shallow Drilling Depths
Five of the nine holes drilled in Phase I were stopped short of their TD due to the shallow depth capacity
of the drill (Table 2). Four of these holes partially tested their targets, while HER-22-06 was stopped
short of reaching its target zone.
Table 2: Drill Holes Not Completed Due to Limited Depth Capability
Hole ID
Comments
HER-22-01
Drilling Ended in Mineralization
HER-22-02
Hole Not Completed. Testing Extension of P-19 Shoot
HER-22-06
Did Not Reach Target
HER-22-08
Drilling Ended in Mineralization
HER-22-09
Drilling Ended in Mineralization
Table 3: Drill Holes Successfully Completed
Hole ID
Comments
HER-22-03
Low Grade Confirmation Hole Close to Main Road
HER-22-04
Testing Extension of Low-Grade Confirmation Hole HER-22-03
HER-22-05
Confirming Hercules Adit Mineralization
HER-22-07
Confirming Hercules Adit Mineralization
Table 4: 2022 Drill Hole Locations
Hole ID
Easting
Northing
Depth (m)
Azimuth
Dip
Hole type
HER-22-01
511318
4956605
64
0
90
RC
HER-22-02
511317
4956609
71.62
314
75
RC
HER-22-03
511208
4956531
30.48
0
90
RC
HER-22-04
511208
4956531
25.91
225
60
RC
HER-22-05
511160
4957067
146.30
204
59
RC
HER-22-06
511160
4957070
92.96
59
72
RC
HER-22-07
511070
4956969
54.86
133
45
RC
HER-22-08
511070
4956969
60.96
73
43
RC
HER-22-09
511321
4956607
60.96
96
55
RC
4-Acid ICP Geochemistry
Samples were assayed using a 4-acid inductively coupled plasma ("
4-acid ICP
") analytical method,
providing a near complete digest of the sample, with accurate results for 48 elements. Results have
suggested a potential zone of potassic flooding within the Hercules Rhyolite, which correlates with
elevated silver-lead-zinc grades. Potassic alteration is not readily visible within the weathered felsic host
rock at surface and the Company has initiated further investigation by submitting a selection of samples
for petrographic analysis, to determine their mineralogy. The objective of the petrographic work is to
better understand hydrothermal alteration on the Property, further refine the deposit model, and provide
more robust vectors to potentially higher-grade portions of the system.
Sampling Methodology
Midnight Sun Drilling Inc. of Whitehorse, YT, Canada, was contracted to carry out the drilling using a
Multi-Power Products Ltd. track-mounted "Grasshopper" reverse-circulation ("
RC
") drill with 3.5 inch
outside diameter drill rods. Drilling was performed in 5-foot intervals, with sample material collected in
clean 5-gallon pails. To reduce sample size, a dry splitter was used to homogenously split the material
into 87% reject and 13% sample. The sample portion was directed into cloth sample bags, while the
reject material was discarded. Received sample weights from laboratory certificates varied but
averaged 3.5 kg.
During duplicate sample runs, reject material was funneled into a clean pail and run through the splitter a
second time, collecting 13% of the reject material as a duplicate sample.
Hercules Silver Corp. personnel supervised the sampling process, including closing, sealing and tagging
of the bags. Following collection, the samples were placed into rice sacks and sealed with tamper proof
security tags. A signed and sealed sample submittal form was placed into the first bag of the shipment.
The samples were transported to Hercules Silver Corp.'s office location in Kelowna, BC, in the
possession of Hercules Silver Corp. personnel. From there, the samples were shipped on pallets by
commercial freight to MSA Labs in Langley, British Columbia for analysis.
The samples were received
by the lab in two batches on November 8, 2022 and December 8, 2022.
Sample Analysis and QAQC
All drill chip 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. Select
samples were analyzed for gold by a 50g fire assay method, with no significant results returned.
Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by
procedures ICF-6Ag, ICF-6Pb and ICF-6Zn.
The thresholds were 100 ppm for silver, and >1% for lead
and zinc.
Preliminary silver assays that returned values >1000 ppm were determined by fire assay with a
50g charge for the final result.
MSA Labs employs internal quality control standards, duplicates and blank samples at set frequencies.
Blind certified reference materials (CRMs) purchased from CDN Resource Laboratories of Langley,
B.C., and duplicate samples were inserted by the Company at a frequency of 2 - 3% of drill samples,
totaling 29 analyses. CRM results for copper, silver, lead and zinc were generally within the "between
lab" ± 2SD inner control limits around the recommended value.
Exceptions included one failure each for
silver and copper, and two low failures for lead.
No results exceeded a ±3SD outer control limit.
Ten barren rock blanks were inserted blind in the sample batches.
These yielded four 10x lower
detection limit (LDL) failures for silver, nine for lead, five for zinc and two for copper.
All of the silver
failures included failures for lead and zinc, and two of them included failures for copper.
In each case,
these blanks followed well-mineralized intervals which indicates that low-level contamination of all of the
samples occurred during the preparation stage. The Company is performing further follow-up on the
failures and will likely specify improved laboratory protocols in future drilling and sampling programs to
ensure thorough cleaning of lab equipment between samples.
Given the relatively low thresholds of the
exceedances relative to any conceivable potential mining grade cutoff, the impact of the apparent
contamination issue is not material to the overall Phase I drilling grades at the cutoff(s) reported.
Eight duplicate samples were collected following the procedure outlined in the Methodology section
above. Despite the presence of high-grade in one sample, precision statistics are acceptable.
Eliminating one very low-grade sample, the RMS CV for the silver field duplicates is 33% with means of
44 g/T and 66 g/T for the originals and duplicates, respectively. Lead shows very similar behavior with
much of the overall variance contributed by the same higher-grade pair that affects silver precision.
On
the other hand, zinc and copper field duplicates with one very low-grade pair removed show remarkably
low RMS CVs of 3% and 15%, respectively.
This suggests that much of the variance in the single silver
and lead pair is inherent in the sampling methods used in the field.
Scatterplots for silver, lead, zinc and
copper show reasonable clustering about linear trend lines with no evidence of sample mix-ups;
correlation coefficients for originals and duplicates for each metal are 0.89 or higher. Silver, lead and
copper duplicate pairs each show one failure exceeding 50% variance. Despite the limited size of the