Tier One Silver Channel Samples 20 metres of 293.8 g/t AgEq at New Cambaya Target on the Curibaya Project
Tier One Silver Channel Samples 20 metres of 293.8 g/t AgEq at New
Cambaya Target on the Curibaya Project
Vancouver, Canada – October 14, 2021 – Tier One Silver (TSXV: TSLV, OTCQB: TSLVF) (“Tier One”
or the “Company”) is pleased to announce that the Company has received high -grade channel
sampling results from the recently identified Cambaya target at the Curibaya project in southern
Peru. The results from the first 20 channel samples tak en from Cambaya have defined an area 1
kilometre (km) by 600 metres (m) with highlights of 20 m of 293.8 g/t AgEq, 11 m of 348.2 g/t
AgEq, 9 m of 438.8 g/t AgEq, 2 m of 1,852.8 g/t AgEq and 2 m of 1,111.9 g/t AgEq (true width of
channel samples unknown) (Figure 2). Channel samples were oriented perpendicular to veins and
structures, when possible, as mapped in the field.
A Message from Peter Dembicki, President, CEO & Director:
“The targeting at Curibaya continues to improve as we expand the high-grade silver-gold footprint.
Our new Cambaya target, approximately one kilometre northeast of our current drilling, has
advanced considerably with these channel samp le results, which follow notably high-grade rock
samples.”
“We are currently drilling beneath the previous ly reported high-grade channel samples from the
Curibaya project within our main target area , and are looking forward to pending drill hole assay
results in addition to over thirty pending channel samples from both the Cambaya target at
Curibaya, as well as from our Hurricane Silver project.”
The Cambaya target is located to the northeast of the previously defined mineralized footprint at
the Curibaya project and has demonstrated the potential for both width and grade of silver – gold
mineralization in this first round of systematic sampling across both north -south and north -east
trending structural corridors (Figure 1). The Company plans to advance the Cambaya target to drill
stage, including permitting, as soon as possible and will be conducting additional geological
mapping to better understand the geometry of mineralization encountered. Complete channel
sampling results from the Cambaya target are presented in Table 1.
A Message from David Smithson, SVP of Exploration:
“The Cambaya target has produced some of the best silver-gold grades and widths sampled from
the Curibaya property to-date. The feeder structures were discovered in the uppermost layers of
the local volcanic stratigraphy and we believe that the veins' relatively high stratigraphic positi on
indicate that there is the potential for a long precious metals window extending below the high -
grade channel samples on surface . With the demonstration of mineralized widths on surface at
Cambaya, there are now at least five key feeder structures at Curibaya that individually, or
collectively, hold the potential for discovery.”
Table 1 Cambaya Target Channel Sampling Results:
Sample ID From (m) To (m) Length
(m) AgEQ (g/t) Ag (g/t) Au (g/t)
21CRT-34 26 37 11 348.2 232.1 1.61
21CRT-35 3 20 17 69.7 63.9 0.08
21CRT-36 19 28 9 438.8 409.0 0.41
21CRT-37 3 16 13 31.6 28.5 0.04
31 47 16 96.0 87.1 0.12
21CRT-38 18 26 8 172.9 139.6 0.46
37 42 5 67.9 62.4 0.08
21CRT-39 0 5 5 30.6 28.4 0.03
21CRT-40 12 16 4 126.5 120.0 0.09
21CRT-44 6 8 2 1,111.9 1,074.0 0.53
21CRT-45 0 13 13 108.2 96.5 0.16
21CRT-48 0 3 3 69.9 62.4 0.10
21CRT-50 6 13 7 392.8 368.8 0.33
21CRT-51 2 4 2 237.9 211.6 0.37
21CRT-52 8 10 2 1,852.8 1,736.5 1.61
21CRT-55 4 24 20 293.8 242.7 0.71
No less than 5 m of >= 25 ppm AgEQ (or shorter intervals with linear grade >=125 ppm*m),
maximum consecutive dilution 6 m
Metal price used for Eq calculations: Au $1,300/oz, Ag $18/oz
The mineralization at the Cambaya target is hosted within pervasively argillic ally and silicified
altered andesitic units that are interpreted to be at the top of volcanic stratigraphy, as mapped on
the project. Encountering mineralization at this higher level in the stratigraphy demonstrates the
potential for greater vertical extent of precious metal mineralization within this target area. Channel
sampling within the target area has focused on quartz –adularia stockwork vein zones that
correspond to high resistivity values identified with the induced polarization survey conducted on
the property. An additional 17 channel samples are pending from the Cambaya target area with
results expected in the coming weeks.
Exploration Update:
A total of seven drill holes have been completed at the Curibaya project, with the eighth drill hole
now underway, for a total of 3,419 m, averaging 32 m per day. The Company plans to complete an
additional 6 – 8 drill holes prior to the end of the year , when the drill program will be suspended
due to the upcoming rainy season. In addition, the Company is currently engaged in an infill stream
sediment program in the central region of the Curibaya project, where the Company had previously
identified copper – gold stream sediment anomalies from the 2016 regional survey. The Company
believes there is the potential to find new epithermal and/or porphyry -style mineralization in the
central region of the Curibaya project with results from the infill program, expected in Q1 2022.
At the Hurricane Silver project, located in the Cusco province of Peru , initial field work has started
at the Magdalena silver vein prospect . The Company is currently evaluating a 2 km by 1 km area
that thus far contains seven different vein corridors from initial reconnaissance mapping and 15
channel samples, ranging between 2 m and 7 m in width , have been completed across the vein
corridors and submitted to ALS Laboratories for analysis.
Figure 1: Illustrates the location of the Cambaya target and feeder structures , the current drill permitted area and the
planned expansion for the drill permit to allow the Company to drill the Cambaya target area in 2022.
Figure 2: Illustrates the location of the new channel samples from the Cambaya target area and the two prominent north-
south and north-east trending structures.
Michael Henrichsen (Chief Geologist), P.Geo is the QP who assumes responsibility for the technical
contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.
Peter Dembicki
President, CEO and Director
For further information on Tier One Silver Inc., please contact Natasha Frakes, Vice President of
Communications at (778) 729-0600 or [email protected].
About Tier One
Tier One Silver is an explorati on company focused on creating value for shareholders and stakeholders through the
discovery of world-class silver, gold and base metal deposits in Peru. The Company’s management and technical teams
have a strong track record in raising capital, discovery and monetization of exploration success. The Company’s
exploration assets in Peru include: Hurricane Silver, Emilia, Coastal Batholith, Corisur and the flagship project, Curibaya,
which has commenced its first drill program. For more information, visit www.tieronesilver.com.
Channel Sampling
Analytical samples were taken from each 1-metre interval of channel floor resulting in approximately 2-3 kg of rock chips
material per sample. Collected samples were sent to ALS Lab in Arequipa, Peru for preparation and then to Lima, Peru
for analysis. All samples are assayed using 30 g nominal weight fire assay with atomic absorption finish (Au -AA25) and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where MS61 results were greater or near 10000 ppm
Cu, 10000 ppm Pb or 100 ppm Ag the assay were repeated with ore grade four acid digest method (Cu, Pb, Ag -OG62).
Where OG62 results were greater or near 1500 ppm Ag the assay were repeated with 30 g nominal weight fire assay with
gravimetric finish (Ag -GRA21). QA/QC programs for 2021 channel sam ples using internal standard and blank samples;
field and lab duplicates indicate good overall accuracy and precision.
Silver equivalent grades (AgEq) were calculated using a $1300/oz gold price and $18/oz silver price. AgEq = Ag (ppm) + Au
(ppm) * (Ag $/troy oz/Au $/troy oz). No metallurgy recoveries were used for the AgEq calculation.
Forward Looking Information and General Cautionary Language
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian
securities legislation (collectively, “forward -looking statements”) that relate to the Company’s current expectations and
views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will
likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”,
“plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward -looking
statements and may involve e stimates, assumptions and uncertainties which could cause actual results or outcomes to
differ materially from those expressed in such forward -looking statements. No assurance can be given that these
expectations will prove to be correct and such forward -looking statements included in this news release should not be
unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation,
this news release contains forward-looking statements in regards to the Company’s exploration plans.
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 release.