Hercules Silver Further Defines New Porphyry- Style Copper Anomaly at the Leviathan Zone Infill soil sampling provides higher resolution to new copper-gold anomaly New anomaly spans 2.7 kilometers east-west and 1.7 kilometers north-south
Hercules Silver Further Defines New Porphyry-
Style Copper Anomaly at the Leviathan Zone
Infill soil sampling provides higher resolution to new copper-gold anomaly
New anomaly spans 2.7 kilometers east-west and 1.7 kilometers north-south
43 select rock grab samples collected, with 15 returning over 1% copper, up to a
maximum of 8.2% copper
1
Copper anomaly overlaps with anomalous silver and zinc at the Belmont Zone
,
suggesting a potentially high-temperature core area of the silver system
Mapping has outlined a large zone of clay alteration partially overlapping the copper
anomaly
Intrusive rocks mapped on the west side of the copper anomaly may represent a
possible source of mineralization
A circular zinc halo suggests a zonation of metals around a central heat source
Large bedrock sampling program underway on untested outcrops across the Property
TORONTO
,
Aug. 31, 2022
/CNW/ -
Hercules Silver Corp.
("
Hercules Silver
" or the "
Company
")
(TSX-V: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to report results of further infill and
expansion sampling at its new Leviathan Zone copper-gold soil anomaly, immediately adjacent to the
5.5-kilometer disseminated silver-lead-zinc system on its 100%-owned Hercules Silver Project in
Idaho
("
Hercules
", or the "
Property
"). The copper-gold anomaly may represent a possible porphyry
copper system, with lenses of skarn that are similar to mineralization at the past-producing Railroad
Mine located adjacent to the east of Hercules. Select rock grab samples from within the anomaly
have graded from nil to 246 g/t silver with 8.2% copper. The strong silver grades may be derived
from skarn lenses within the volcanics or alternatively, may be related to the nearby Copper Cliff
Mine, a copper-silver system historically mined by Noranda from the same volcanic formation
located to the north of the Property in the nearby town of
Cuprum, ID
2
. The presence of intrusive
rocks at surface, strong alteration and widespread copper oxide staining provides encouragement
for a significant hydrothermal system. An extensive bedrock sampling program is now underway,
collecting 2-meter chip samples from outcrops within various soil anomalies on the Property.
_________________________________
1
The reader is cautioned that rock grab samples and their respective photographs are selective by nature and may not represent the true grade or style of mineralization across the
Property
The full news release, including high-resolution images of the soil sampling results, can be found on
the Company's website by following the link below:
https://herculessilver.com/news/
Management Commentary
Chris Paul
, CEO and Director of the Company, noted: "The new soils data provides greater
resolution to the Leviathan Zone, and represents an important step forward in exploring this newly
discovered zone. We have noted many characteristics of a significant copper system, including the
presence of intrusive rocks at surface, widespread alteration and copper oxide staining of outcrops.
Historical age dating – completed as part of a Ph.D. dissertation by our advisor Dr.
Tom Henricksen
– provided an age estimate of 200 million years for nearby intrusives, coinciding with the important
Triassic-Jurassic boundary, the mean age of formation for nearly all significant porphyry copper
systems north of the Property in
British Columbia
. We're now further advancing the target through
systematic sampling of mineralized outcrops, as we look to finalize our drill plan for this exciting new
target."
Geological Setting
The host rocks within the copper anomaly are mapped as Huntington Formation, consisting of
Triassic andesitic volcanics interbedded with limestones. Plugs and dykes of quartz porphyry intrude
the sequence, which may be the near-surface expression of a deeper intrusive complex. The
neighbouring IXL property, immediately southeast of the Property2 and held by EMX Royalty Corp.,
is underlain by a large intrusive complex with associated porphyry-style copper-gold-molybdenum
mineralization.
________________________________
2
This news release contains information about adjacent properties on which Hercules Silver has no right to explore or mine. Readers are cautioned that mineral deposits on
adjacent properties are not indicative of mineral deposits on the Company's properties.
Several historical showings, including the White Monument, Cliff, Little Gem, Metheny, Yellow Bride,
Long Cut and Big Cut prospects, occur mostly to the southeast of the new copper anomaly.
Historical trenching at the Property's Big Cut prospect reportedly uncovered en-echelon mineralized
structures containing chalcopyrite as disseminations, and less commonly as semi-massive lenses.
The copper mineralization is associated with rhyolite sills and dykes, suggesting a possible
relationship as feeder dykes to the overlying Hercules Rhyolite. Historical sampling at the Big Cut
prospect, discussed in unpublished reports obtained by Hercules Silver, yielded grades of up to
1.78% copper across 90 feet (~27 meters) and 1.3% copper across 57 feet (~17 meters). Silver
was only selectively assayed at the time. Other notable historical trench intercepts at the Big Cut
prospect noted in the reports include:
Table 1 – Select Historical Trench Results - Big Cut and Surrounding Prospects
Zone
Length (ft.)
Length (m)
Cu (%)
Ag (oz/t)
Big Cut
40
12.2
1.58
NR
Big Cut
180
54.9
0.94
NR
Big Cut
40
12.2
0.91
NR
Big Cut
60
18.3
0.91
NR
Cut Above
115
35.1
0.93
NR
Cut Above
7
2.1
2.68
0.98
Cut Below
60
18.3
0.83
NR
Long Cut
70
21.3
0.63
NR
NR = Not Reported
The assay results reported above are historical in nature and have not been verified by a Qualified
Person; therefore, they should not be relied upon.
Portions of the soil grid contain widely scattered test pits, shallow shafts, and adits from the late
1800s and early 1900s. As a result, some soil values may be upgraded or downgraded in these
areas, the extent of which is difficult to quantify at this time. The largest and most continuous portion
of the copper soil anomaly, however, occurs in the center of the Property – an area with almost no
known historical disturbance.
Sampling Methodology
Samples were collected at 50-meter grid spacings with the use of dutch soil augers, making an
effort to consistently sample the same B horizon material at each sample site. The B horizon
typically occurs at a depth of approximately 10-30 centimeters on the Property and comprises silt-
size material with elevated levels of clay and iron and manganese oxyhydroxides. The B horizon soil
is known to preferentially adsorb trace metals such as silver, lead and zinc and is often the preferred
sample medium in mineral exploration surveys. Following collection, the samples were bagged, dried
and shipped to MSA Labs in
Langley, British Columbia
for analysis.
Sample Analysis and QAQC
All soil samples were prepped and analyzed at MSA Labs in
Langley, British Columbia
, an ISO
17025 and ISO 9001 certified laboratory. Samples were dried and sieved to -180 micron (80 mesh).
Following preparation, soil assays were determined by IMS-117 method. A 20g aliquot of the
prepared pulp was cold-digested with HNO3, then HCl is added, and the sample was heated at
130˚C for 40 minutes. Digestion was carried out in disposable plastic bottles to eliminate cross-
contamination from digestion vessels and heated via graphite block for even heating. The resulting
solution was analyzed via ICP-MS and ICP-ES for 39 elements and was corrected for inter-element
spectral interferences.
Blind certified reference materials (CRMs) purchased from an independent commercial laboratory
and duplicate samples were inserted by the Company at a frequency of 1 in every 25 samples.
Duplicate samples were prepared in the field by homogenizing soil collected at a specific sample site
and placing it in two soil sample bags in sequence. CRM results for copper, silver and zinc were all
within acceptable limits with no failures. Several low failures on gold for two CRMs and a general
low-bias versus the certified mean on all three of the CRMs submitted to the laboratory were noted
and merit additional investigation. MSA Labs also employs internal quality control standards,
duplicates and blank samples at set frequencies. MSA Labs gold results against one of its internal
commercial certified reference materials tested low with one -3SD failure, whereas its second CRM
tested with acceptable results. Lab blanks showed no indications of contamination.
Duplicate sample precision results for copper, silver and zinc were excellent. Gold results showed
more variation as expected due to the relatively low values.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for
disclosure by
Donald E. Cameron
, MSc, a Registered Member of the Society for Mining, Metallurgy
and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America, and an
independent "Qualified Person" for Hercules Silver within the meaning of National Instrument 43-101
– Standards of Disclosure for Mineral Projects (
"NI 43-101"
). To the best of his knowledge, the
technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in
this news release, is neither inaccurate nor misleading. Some of the technical information presented
in this news release was collected prior to the enactment of NI 43-101 standards and includes paper
records maintained by various companies that conducted exploration work on the Property. Details
of the geochemical sampling methods, security, assaying, and quality control methods used in the
generation of this historical technical data are unknown to Hercules Silver Corp.; however, in Mr.
Cameron's opinion, the historical geochemical soil sampling results are verified by the Hercules Silver
Corp. sampling program for the purposes of NI 43-101.
About Hercules Silver Corp.
Hercules Silver Corp. is a junior mining company focused on the exploration and development of the
Hercules Silver Project, northwest of
Cambridge, Idaho
. The Company's management team brings
extensive and successful international experience with a focus on identifying and acquiring
prospective and under-explored precious metals properties worldwide. Members of the board of
directors have an established track record of creating significant returns for investors and have
demonstrated access to capital to advance the development of assets.
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.sedar.com
.
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.
SOURCE
Hercules Silver Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/August2022/31/c0146.html
%SEDAR: 00045528E
For further information:
Chris Paul, CEO & Director, Telephone +1 (604) 449-6819, Email:
CO: Hercules Silver Corp.
CNW 07:00e 31-AUG-22