Halcones Precious Metals Announces Additional Outcrop Chip Channel Sample Results Extending Mineralized Footprint to the South at Polaris GOLD Project, Antofagasta Region Chile
HALCONES PRECIOUS METALS ANNOUNCES ADDITIONAL OUTCROP CHIP CHANNEL SAMPLE
RESULTS EXTENDING MINERALIZED FOOTPRINT TO THE SOUTH AT POLARIS GOLD PROJECT,
ANTOFAGASTA REGION CHILE
TORONTO, ONTARIO February 12, 2025 – Halcones Precious Metals Corp. (TSX – V: HPM) (the
“Company” or “Halcones”) is pleased to announce additional results from the recent field program at the
Polaris gold project, Chile (“Polaris” or the “Project”) . Polaris is a large , highly prospective gold project
that has never been drilled . No modern exploration has been carried out to date other than basic rock
sampling and mapping. S urface bedrock sampling performed by Halcones’ geologists has extended the
strike length of a trend of assay results, comprising more than 400 rock samples, many grading greater
than 1g/t gold, to 3.9 km. This trend remains open for another 2km to the north and 1.5 km to the south
before reaching property boundaries.
According to Ian Parkinson, CEO of Halcones, “It is exceedingly rare to see such an extensive and highly
mineralized gold trend that has never been drilled. In more than ten years as a senior mining analyst for
leading financial institutions, there is not a single project I have seen that shows such extensive
mineralization in outcrops and no history of systematic exploration. We are very excited by the
prospectivity of this project”.
Halcones’ geologists recent field work was focused on mapping and sampling a priority area within the
North Zone (Figure 1) resulting in an expanded priority target. This area has consistently returned high
grade results from surface sampling. Several highly prospective drill targets have been outlined through
this sampling program in the North Zone (see Figure 2). Sampling completed by the Company has
increased the gold mineralized footprint by approxima tely 210% from the area first observed by the
optionors of the Project. Company geologists believe that the North and South Zones may merge into a
single large gold anomaly, further increasing the potential of the Project. Sampling is limited in the area
between the North and South Zone due to the presence of thin overburden cover. The next phase of
exploration will focus on better defining the extension of the anomalous gold in this area to confirm the
current geological interpretation of the field team. Additional sampling to explore and expand the
anomaly to the north and east will also be done as part of the next stage of exploration.
Highlights:
• Select highlights from the last batch of 44 assays include 29.04, 10.67, and 3.54 g/t Au, hosted
primarily in stockwork (see Figures 3 & 4). These results are in addition to the 20.05, 13.08,
8.54 and 6.67 g/t Au previously reported (see February 4th,2025 press release for details). The
samples consisted of continuous 1m long chip samples to ensure representative sampling.
The program prioritized sampling of stockwork as opposed to larger quartz veins. Gold bearing
stockwork (see Figures 3 & 4) at surface has been sampled over approximately a 250m X 500m
area and the limits of this mineralized zone are unknown. Several high-grade target areas
have been identified. However, the entire area may represent a large, bulk minable target if
continuity between bedrock samples is established. See Figure 2 for locations of samples.
• The North Zone sample area with the greatest concentration of high-grade surface samples
has been expanded to the South. Sampling by Halcones’ geologists returned values consistent
with work done by the optionors of the Project and extended the known area of high-grade
mineralization to more than double that previously outlined. The approximate surface area
of this target containing multiple surface samples above 1 g/t is 12.3 hectares.
• High grade mineralization continues to exhibit a strong structural control . In the reported
sampling area (Figure 2), high grade samples continue to occur on the southwest side of a
structural break . Approximately 40% of the surface area in the n orthwest portion of the
Project area has a thin layer of colluvial cover and this has seen limited sampling. The
Company plans to expand its sampling through this thin cover when approvals are in place.
• Halcones believes there is potential for a larger tonnage surface deposit of vein and stockwork
hosted mineralization within the highly fractured granodioritic rocks adjacent to fault splays
associated with the continental scale, Atacama Fault System in the area. Extensive gold
mineralization has been identified by surface bedrock sampling over 3.9 km of strike length
along these structures on the property to date.
Ian Parkinson, CEO and Director of Halcones:
“We are very excited by the results of our first field program at Polaris. These results have confirmed what
we had hoped for at Polaris. In a few weeks of field work we have materially expanded the initial areas of
interest and several very clear target s for future drilling ha ve emerged. It is rare to see such broad
anomalous gold at surface. Much of the Project area remains sparsely sampled and mapped. Our technical
team is currently making plans to get back into the field”.
About The Recent Field Program:
The were two main objectives of the field program.
1) Expand the footprint of the known mineralization in the Northwest corner of the North Zone
(See Figure 1).
2) Test and better define the extent of mineralized stockwork as a lower grade bulk tonnage
opportunity adjacent to the known vein hosted mineralization.
This first field program has successfully expanded the surface area of mineralization (see F igure 2) and
confirmed the presence of extensive stockwork hosted gold mineralization at surface.
Sampling previously performed on Polaris identified the northwest section of the North Zone as a priority
area (see Figure 1). In recent field work, Halcone s’ geologists increased the density of sampling and
expanded the surface footprint of sampling in this priority area (see Figure 2). Halcones’ geologists took
a total of 140 samples during the recent field campaign. All assays from this program have been received,
of which 31 returned values above 1 g/t Au.
This sampling pro gram has successfully expand ed the surface expression of the work completed
previously on Polaris . Additionally, stockwork mineralization has been confirmed over a broader area.
The presence of mineralized stockwork over an extensive area supports Halcones’ geologist interpretation
that bulk tonnage deposit potential exists at Polaris. Sampling has been limited in certain areas due to the
presence of a thin layer of colluvial cover. S ampling programs are being planned to test bedrock below
this this cover.
Halcones’ geologists have been working with a geological model that Polaris holds potential for a large-
scale bulk tonnage open pit operation . The presence of mineralization in stockwork s in the wall rocks
away from the historically mined, mineralized veins is a crucial component of this model that is present
at Polaris. This stockwork is believed to have a similar genesis to the vein hosted mineralization previously
exploited by artisanal miners but was never targeted. The stockwork mineralization is not visually obvious
due to a general lack of associated sulfide minerals. The 17 known small scale mines in the Project area
exploited very high-grade veins with no focus on the stockwork adjacent to the veins.
Figure 1: Polaris Project sampling has identified gold mineralization over a 3.9 km extent in an area that
has never been drilled.
Figure 2: Polaris North Zone field program results with recent assays represented.
The stars are Halcones’ samples, the dots are samples by the optionors.
Figure 3: Example of typical mineralized stockwork in outcrop. The rock is highly transected by
randomly oriented hairline fractures that commonly contain sub-millimetre to several millimetre quartz
veins that are thought to contain the gold. The host is typically tonalite to granodiorite, which has been
fractured adjacent to the fault systems in the area. Visually, there are few indications of mineralization.
Figure 4: Example of stockwork mineralization exhibiting larger quartz veinlets. The mineralized rock
is characterized by multiple veinlets and fractures at various orientations.
About The Sampling Process
Using a hammer and a rock chisel, a chip sample is carried out uniformly over at least 1 meter sections,
ensuring complete collection and homogeneity in order to achieve proper representation of the sample.
The sample is collected perpendicular to the dominant strike of the structures and the sample mass must
be a minimum of 2 kg. In the event that the outcrop presents some mineralized structure, an independent
sample will be taken only from the mineralized structure and an independent sample from the host rock
on both sides of the structure. This process is designed to limit bias due to high grading sample collection.
All samples were bagged and sealed on site and delivered directly by the Project Geologist to ANDES
ANALITYCAL ASSAY Laboratory in Copiapó, Chile. After sample preparation at ANDES ANALITYCAL ASSAY
Laboratory in Copiapó, split pulp samples were shipped to ANDES ANALITYCAL ASSAY in Santiago, Chile
for assaying gold by fire assay (AEF_AAS_1E42 -FF), and for analyzing 34 other element s, including silver,
by four acids (ICP_AES_AR34m1).
ANDES ANALITYCAL ASSAY is an independent laboratory certified with a global quality management
system that meets all requirements of International Standards ISO/IEC 17025:2017 , includes its own
internal quality control samples comprising certified reference materials, blanks, and pulp duplicates.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Mr. David
Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators.
About Halcones Precious Metals Corp.
Halcones is focused on exploring for and developing gold-silver projects in Chile. The Company has a team
with a strong background of exploration success in the region.
For further information, please contact:
Vincent Chen, CPA
Investor Relations
www.halconespreciousmetals.com