Halcones Precious Metals Announces Surface Outcrop Chip Channel Sample Results, Including 20.05 G/T, 13.08 G/T, 8.54 G/T and 6.67 G/T GOLD from Recent Field Work at Polaris GOLD Project, Antofagasta Region Chile
HALCONES PRECIOUS METALS ANNOUNCES SURFACE OUTCROP CHIP CHANNEL SAMPLE
RESULTS, INCLUDING 20.05 g/t, 13.08 g/t, 8.54 g/t AND 6.67 g/t GOLD FROM RECENT FIELD
WORK AT POLARIS GOLD PROJECT, ANTOFAGASTA REGION CHILE
TORONTO, ONTARIO February 5, 2025 – Halcones Precious Metals Corp. (TSX – V: HPM) (the “Company”
or “Halcones”) is pleased to announce results from the first field program completed by the Company at
the Polaris gold project, Chile (“Polaris” or the “Project”). Halcones’ geologists recently initiated field work
comprised of mapping and sampling in a portion of the Project area. The samples consisted of continuous
1m long chip samples to ensure representative sampling.
Highlights:
• The Polaris Project is a large, highly prospective gold project. 17 former artisanal, high -
grade mines occur within the Project area. These bonanza grade operations were active
approximately 130 years ago 1. Sampling of extensive zones of highly fractured and
brecciated wall rocks was not carried out. Extensive gold mineralization has been
identified by surface bedrock sampling over 2.7 km of strike length on the p roperty to
date. The full extent of this mineralization is presently unknown, however initial results
demonstrate potential for mineralization occurring over wide areas at shallow depths
(Figure 1). Large areas of the Project remain unsampled. Additional surface mapping and
sampling is in progress and the results reported here are from the initial Halcones assays.
• Select highlights from this field programs include 20.05, 13.08, 8.54 and 6.67 g/t, hosted
in veins and stockwork. See figure 2 for locations of samples.
• The initial sample area which contained multiple high grade surface samples has been
expanded. 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.
• High grade mineralization exhibits a strong structural control and in the area of the
reported sampling (Figure 2) high grade samples occur on the southwest side of a
structural break.
• Gold bearing stockwork at surface has been sampled over approximately a 220m X 300m
area and limits of this mineralized zone are not yet known. The average grade of the 20
samples collected by Halcones in this area was 4.26 g/t gold.
• Halcones believes there is potential for a larger tonnage surface deposit of vein and
stockwork hosted mineralization hosted by the highly fractured rocks associated with
fault splays associated with one of the major, continental scale, Atacama Fault Systems in
the area.
1 Source: SERNAGIOMIN (Servicio Nacional de Geología y Minería (Chile)) archives
• Northeast of the higher -grade sampling, there is an area extending approximately 150
meters further to the northeast of the structural break where samples are generally lower
grade, however another parallel structure has been identified at the northeast edge of
the low-grade sample area and grades appear to be stronger on the northeast side of the
second structure there (Figure 2).
• Additional assays are expected to be released as they become available, and the Company
is making plans to extend the sampling to a broader area.
Ian Parkinson, CEO and Director, of Halcones:
“We are extremely excited by the results from the first assays at Polaris. In just a few weeks in the field
the team has significantly expanded one of the priority target areas in the North Zone. The extensive gold
in stockwork is particularly encouraging as it demonstrates the potential for a large -scale bulk tonnage
deposit at Polaris. Sampling and mapping continues with the goal to prioritize targets to be drilled later
this year. It is rare to see such broad scale gold mineralization at surface. Many of the samples are not
obviously mineralized other than the presence of fine stockwork fractures and veinlets that appear to carry
the gold.”
About The Current Field Program
The were two main objectives of the current 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 phase of field work successfully expanded the surface area of mineralization (see figure 2) and
confirmed the presence of 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. 96 for which assays have been received, have
been compiled in this release of which 22 returned values above 1g/t. The balance will be released shortly.
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. Sampling 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 . T he 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 2.7 km extent in an area that has never been drilled.
Figure 2. Polaris Field Program Results with recent assays represented.
The stars are Halcones samples, the dots are samples by the optionors.
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
Investor Relations
www.halconespreciousmetals.com
Cautionary Note Regarding Forward-looking Information
A qualified person, as defined in National Instrument 43 -101, has not done sufficient work on behalf of
Halcones to classify any historical grades, production or results reported above as current mineral
resources or mineral reserves. The historical data should not be relied upon.
This press release contains “forward -looking information” within the meaning of applicable Canadian
securities legislation. Forward -looking information includes, without limitation, regarding the
prospectivity of the Project, the mineralization of the Proj ect, the Company’s exploration program, the
Company’s ability to explore and develop the Project and the Company’s future plans. Generally, forward-
looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”
or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Halcone s, as
the case may be, to be materially different from those expressed or implied by such forward -looking
information, including but not limited to: general business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other
risks inherent in the mining industry. Although Halcones has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking information, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward -looking information. Halcones does not unde rtake to update any forward -looking
information, except in accordance with applicable securities laws.
NEITHER 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 RELEASE.