Tier One Silver Defines Porphyry Copper Targets at Curibaya
Tier One Silver Defines Porphyry Copper Targets at Curibaya
Vancouver, Canada – January 30, 2022 – Tier One Silver Inc. (TSXV: TSLV, OTCQB: TSLVF) (“Tier
One” or the “Company”) is pleased to announce that recent geophysical survey results, combined
with existing exploration data sets , have led to the identification of two porphyry copper targets
underlying the silver-gold epithermal mineralization defined on surface at its Curibaya project in
southern Peru. Tier One Silver completed a 42.7 -line k ilometre (km) Controlled-Source-Audio-
Frequency Magnetotelluric (CSAMT) geophysical survey over the central portion of the Curibaya
project in late 2022 (Figure 1). These new data sets were integrated into the exploration model,
building on previous geophysical, geochemical and geological data sets, to generate targets for the
Company’s next drill program at the project . The drilling, which is anticipated to begin in Q2, will
comprise of approximately 5,000 metres (m) to follow-up on the high-grade silver-gold epithermal
mineralization defined at surface and target the two main conductive features that may relate to a
porphyry system.
Highlights:
- CSAMT identifies two sub-vertical, low resistivity anomalies (400 m x 400 m and 600 m x 500
m) that are interpreted to be associated with a large-scale hydrothermal alteration system
- Anomalies correlate with areas of multiphase alteration systems, including:
• Advanced argillic alteration
• Skarn and hornfels
• Sericite – phengite – muscovite
- Anomalies correlate with elevated bismuth, tellurium, selenium and copper values in rock
samples
- Absolute dating of alteration mineral in anomalies yielded a Paleocene age of 55Ma, which
is a similar age to the regional porphyry copper giant deposits, Toquepala (57Ma), Cuajone
(52Ma) and Quellaveco (55 Ma)
A Message from Christian Rios, SVP, Exploration:
“We believe the targets we’ve identified could be associated with a porphyry copper system at
depth, particularly considering the absolute dating results, which indicate the mineralization to be
from the Paleocene era. This provides further evidence that we are in the correct regional
environment as the similar Paleocene-aged giant porphyry copper deposits nearby. We look
forward to testing these strong targets in our next drill campaign.”
CSAMT Results:
A CSAMT geophysical survey was completed in October 2022 to augment previously completed
geophysical, geochemical and geological surveys. CSAMT is used as an exploration tool to identify
deeply rooted resistive and conductive features that may correlate to feeder and breccia structures,
and/or zones of silicification and clay alteration, possibly related to porphyry copper targets (Figure
2). An inversion of the Curibaya CSAMT data outlines two main conductive features that are 400 m
by 400 m and 600 m by 500 m, respectively, and show significant depth extent over 700 m (Figure
3). Pseudo sections for lines L5800 and L6200 clearly illustrate sub -vertical conductive features
(Figure 4).
Both the high conductivity and low resistivity features are sub-vertical and located under important
alteration features such as an advanced argillic lithocap, a skarn and hornfels area and a white mica
alteration area. Additionally, these conductive anomalies are geochemically anomalous in bismuth,
tellurium, selenium and copper . The hydrothermal alteration present in the upper part of the
system and the geophysical features are consistent with buried porphyry systems.
Strategy for H1 2023:
The synthesis and interpretation of these targets is ongoing and includes re -logging core and
continued integration with other geophysical and geochemical datasets. The Company expects to
have defined drill targets in the coming weeks. Upon completion of target definition, a drill program
will be finalized to test for both the possible porphyry source ( drilling to a depth of 500m - 800m)
and the epithermal silver – gold structures (between 150m - 250m) on the property. The exploration
field program is expected to start in Q2 2023.
Figure 1: Illustrates a general location map of the CSAMT lines for the survey that was conducted in October 2022.
Figure 2: Illustrates line L5800 and the zones of lower resistivity and higher conductivity, which may indicate zones of
intense hydrothermal alteration that could be associated with a porphyry copper system. In addition, drill hole 8 is
illustrated, which encountered 44 m of 52 ppm of molybdenum at a depth of approximately 270 m, which is another
indication of a potential porphyry copper system.
Figure 3: An inversion of the CSAMT data outlines two main conductive features. Tier One Silver plans to test these
porphyry copper targets in its next drill program. The CSAMT survey tested to a depth of 500 m.
Figure 4: Illustrates pseudo-sections for lines L5800 and L6200 and the sub-vertical conductive features.
The Company is also announcing that Michael Henrichsen is retiring as Chief Geologist of Tier One
Silver to focus his efforts as Chief Geological Officer of Torq Resources. Tier One has been
transitioning toward this restructuring since the appointment of Christian Rios as SVP of
Exploration, who will be lead ing exploration operations at the Company going forward. Mr.
Henrichsen will still be available to Tier One as a consultant, as needed.
Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and 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, VP,
Communications, at (778) 729-0600 or [email protected]
About Tier One
Tier One Silver is an exploration 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, Coastal Batholith, Corisur and the flagship project, Curibaya. For more information, visit
www.tieronesilver.com.
CSAMT Parameters
The CSAMT survey was carried out by Qua ntec Geoscience Perú S.A.C. , a company based in Vancouver with divisions
operating in South America, including Peru. Data points were collected on grid lines -oriented NW-SE using 50 m station
spacings, covering an area of approximately 4.5 km x 3.5 km. Overall, data quality is consid ered well above average and
no stations were affected by external factors.
Results were compiled into sections, grid maps and a 3D Voxel model. Occam or Marquardt 1D Inversions are first used
to invert the data to produce a smooth-layer 1-D resistivity/depth curve for each station. To avoid the effects of the near-
field, some frequencies were removed.
Readings are statistically averaged based upon adjacent points to produce an associated value for each cell. Quantec
Geoscience Perú S.A.C. provides high confidence in readings to a depth of at least 700 m.
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 which are not historical facts and may be forward-looking statements and may involve estimates,
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 heavily relied upon. These statements speak only
as of th e date of this news release. In particular, and without limitation, this news release contains forward -looking
statements with respect to exploration plans.
Readers should refer to the risks discussed in the Company's Annual Information Form and Manageme nt’s Discussion &
Analysis for the year ended December 31, 2021, and subsequent continuous disclosure filings with the Canadian Securities
Administrators available at www.sedar.com.
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.