Tier One Silver Identifies New High-Grade Silver, Gold and Copper Zone at Curibaya
Tier One Silver Identifies New High-Grade Silver, Gold and Copper
Zone at Curibaya
VANCOUVER, BC / ACCESSWIRE / September 11, 2023 / Tier One Silver Inc.
(TSXV:TSLV)(OTCQB:TSLVF) ("Tier One" or the "Company") is pleased to announce the
discovery of an additional zone returning high-grade silver including samples up to 1,360 g/t
silver (Ag), 42.20 g/t gold (Au), and 6.12% copper (Cu), from its 100% owned Curibaya project
in southern Peru. The newly identified target lies to the west of the primary Cambaya I and
Cambaya II targets and is the result of extensive reconnaissance efforts carried out within Zone 1
(refer to Figure 1 and news release dated June 12, 2023). This is the first phase of the broader
regional exploration spanning three (3) distinct zones of sediment geochemical anomalies
("BLEG") across the approximately 17,000 hectares of the Curibaya project.
This high-grade target developed along the Sambalay Chico fault (refer to Figure 2), is an
integral part of the broader Incapuquio fault system where polymictic breccias have been
identified with values up to 42.20 g/t Au, 651 g/t Ag, and 6.12% Cu related to silicified
fragments. A quartz structure, related to the stress control of the Incapuquio fault, with sulfides
0.30 metres (m) wide , has also been identified with values up to 1,360 g/t Ag, 4.05 g/t Au and
0.13% Cu.
Additionally, a new mineralized vein corridor has been identified, referred to as the Sambalay
Chico Corridor, extending up to 1.5 kilometres (km) in length, and features values up to 139 g/t
Ag and 2.56 g/t Au. It also reveals anomalies, registering at 400 ppm arsenic (As), while
maintaining Ag/Au ratios that average around 100, suggesting that Zone 1 occupies the upper
levels of an epithermal system. With the identification of this new corridor situated at an
elevation of 2,200 m, the Curibaya project now hosts a current tally of seven (7) mineralized
corridors, demonstrating its strong exploration potential.
A Message from Peter Dembicki, CEO & Director:
"We're pleased by the ongoing progress of our exploration efforts at Curibaya. The timing of our
upcoming drill program, contingent upon securing the necessary financing, is a crucial step as we
strategically focus on our silver targets. A subsequent program will be dedicated to rigorously
testing our copper porphyry targets.
As we continue to explore beyond these robust targets, we've consistently encountered high
grades of silver, gold, and now copper. These findings stand as a testament to the unique nature
of this exploration endeavor. In preparation for drilling, our team is excited by our ongoing
efforts to unearth new areas of high-grade outcropping mineralization, which continues to
expand the potential for discovery at Curibaya, situated on one of the world's most prolific
mining trends."
Zone 1 Exploration Findings, Geochemical Insights, and Terraspec
Zone 1 has emerged as a focal point of Tier One's recent exploration efforts following the
geological team's comprehensive BLEG sampling campaign in 2021, which identified significant
anomalies in copper (> 40 ppm), molybdenum (> 1.30 ppm), and gold (> 3.5 ppb) (Figure 1).
Tier One's exploration activities within Zone 1 were strategically oriented towards identifying
disseminated mineralization centers and unveiling new structures and corridors. The Company
collected a total of 116 rock chip samples at a grid spacing of 150 m x 150 m, supplemented by
25 rock chip-channel samples and 13 trenches with 57 channel samples.
These efforts showcase strong exploration potential at the Curibaya project, identifying two (2)
new significant targets. The first, known as the "Del Filo target," is closely linked to intrusive
dikes and polymictic breccia outcrops measuring 30 m x 30 m. These formations comprise
intrusive rock fragments and silicified components hosting valuable gold, silver, and copper
mineralization. The second target, known as "Sambalay Chico," is associated with a new vein
corridor stretching approximately 1.5 km and features silicified structures housing drusy and
colloform quartz veins with widths of up to 2 m.
Lithologically, Zone 1 corresponds to a composite of mixed volcanic-sedimentary volcanic
rocks, forming a volcanic edifice characterized by tuffs and volcanic breccias with andesitic,
rhyolitic, and dacitic compositions. Stratigraphically, these rocks align with the Toquepala Group
(Paralaque and Quellaveco Formations).
Controlling these two targets are two principal fault systems, the Huanacos fault with an E-W
orientation and the Sambalay Chico fault with an NW-SE orientation (Figure 2). These structural
controls are integral components of the larger Incapuquio fault system, renowned for hosting
significant copper deposits like Toquepala, Quellaveco, and Cuajone.
Figure 1 Illustrates a general location map of Zone 1 on the Curibaya project and copper BLEG
anomalies.
Geochemical Insights
The Del Filo target demonstrates geochemical data indicating high-grade values of 42.20 g/t Au,
651 g/t Ag, and 6.12% Cu. Additionally, values of 8.19 g/t Au, 26 g/t Ag, and 0.27% Cu have
been linked to silicified fragments featuring malachite, chrysocolla, and dark brown earthy
oxides (Figures 2 and 3). Noteworthy among these findings is a silicified rock fragment
containing manganese and copper oxides, displaying a value of 3.32 g/t Au and 0.1% Cu.
Moreover, a 0.30 m wide quartz structure enriched with sulfides has been identified, showcasing
values reaching as high as 1,360 g/t Ag, 4.05 g/t Au, and 0.13% Cu. Indications of other
elements such as arsenic have risen to 900 ppm, while antimony (Sb) values reach 40 ppm and
bismuth (Bi) values extend to 6 ppm.
The new Sambalay Chico Corridor has unveiled values up to 297 g/t Ag and 1.8 g/t Au within a
1-m wide channel sample, further enhanced by a 1 m channel sample presenting 120 g/t Ag and
1.38 g/t Au (Figure 2). The presence of volatile elements like arsenic up to 400 ppm has been
identified, while Ag/Au ratios exhibit an average range of 50 to 100-a characteristic consistent
with the upper tiers of an epithermal system (refer to Table 1 and Table 2).
Within Zone 1, a distinct footprint or alteration anomaly is visibly apparent. This observation is
complemented by clay data collected through the utilization of Terraspec-Halo. Particularly
notable within the dacitic tuff in Zone 1 is the prevalence of high-temperature clays such as
white mica and kaolinite, signifying hydrothermal alterations, which is significant given that the
region is a thermally active zone accentuated by the presence of copper deposits.
Figure 2 Shows a geological map of the Curibaya area, demonstrating the location of the
Sambalay Chico Corridor and the Huanacos and Sambalay Chico faults.
Figure 3 Provides photos of Del Filo target breccia, with samples up to 42.2 g/t Au, 651 g/t Ag y
6.12% Cu related to silicified fragments with copper oxides.
Table 1: Select Channel Sample Results with Ag/Au ratios
Sample
ID
From To Length
(m) Ag (g/t) Au (g/t) Ag/Au
23CRT-
1391
0 2.5 2.5 28.0 0.54 52
Incl. 0 1.5 1.5 33.9 0.65
23CRT-
1402
0 1 1 7.7 0.08 94
23CRT-
1412
0 1 1 43.8 0.13 337
23CRT-
1422
0 3 3 17.2 0.13 129
23CRT-
1432
0 1 1 43.1 0.41 105
23CRT-
1442
0.5 1.5 1 32.3 0.17 190
23CRT-
1472
1 1.5 0.5 45.1 0.25 180
23CRT-
1481
3 6.5 3.5 50.0 0.51
99
Incl. 5 6 1 120.0 1.38
23CRT-
1501
0 2 2 91.9 0.48
194 Incl. 1 2 1 155.8 0.74
23CRT-
1511
0 1.5 1.5 74.2 0.13
557
Incl. 0.5 1 0.5 156.0 0.24
1. No less than 5m of >= 25ppm AgEQ (or shorter intervals with linear grade
>=125ppm*m), maximum consecutive dilution 6m
2. Values without dilution
Table 2: Select Rock Sample Results with Ag/Au ratios
Sample ID Au (g/t) Ag (g/t) As (ppm) Cu (ppm) Ag/Au
Y192466 42.20 651.0 60.9 61,200 15
Y192648 8.19 25.8 79.4 2,690 3
Y192500 4.05 1,360.0 232.0 1,260 336
Y192584 3.32 8.1 34.7 187 2
Y192388 3.30 185.0 93.7 74 56
Y192400 2.50 198.0 248.0 153 79
Y192449 1.80 297.0 215.0 56 165
Y192368 1.39 129.0 133.5 175 93
Y192409 1.31 110.0 351.0 120 84
Y192477 1.08 46.7 666.0 144 43
Y192408 0.55 188.0 340.0 107 341
Y192404 0.31 26.2 83.7 27 83
Geophysics
In the CSAMT section line L5800 carried out last year (see news release dated September 12,
2022), a resistive occurrence is shown in the form of a conduct / neck of 50 m in radius and
between 150 to 200 m in vertical, coinciding with the high-grade polymictic breccias with
mineralized fragments and intrusive dikes found at surface in the Del Filo Target (Figures 3 and
4).
Figure 4 Illustrates an interpretation of the CSAMT L5800 geophysical line. Resistive neck
geometry of 50m radius x 200m depth coincident with the location of the polymictic breccia in
the upper part.
Zone 2 and Future Prospects
Presently, Tier One's efforts are focused on reconnaissance, giving the Company an opportunity
to identify new corridors. As these corridors undergo comprehensive geochemical sampling, Tier
One will release updates when complete geochemical sample results are received.
Following the thorough recognition of these areas featuring BLEG anomalies, involving semi-
detailed geological mapping, rock sampling, and Terraspec studies, the Company's next steps
involve extensive field work. This preparatory work is geared towards delineating targets for
future drilling efforts.
The drilling plan in the Cambaya area remains intact, with a focus to drill after raising the
necessary capital to support the program.
Corporate Update
The Company is also announcing that Natasha Frakes is retiring as VP of Communications at
Tier One Silver to focus her efforts on Torq Resources. The company thanks her for her efforts
during the inception of Tier One Silver.
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 Courtney James 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, Corisur and the flagship project, Curibaya. For more information, visit
www.tieronesilver.com.
Channel and Rock Sampling
Analytical samples were taken from each 0.5-1.0-metre interval of channel floor resulting in
approximately 2-5 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 digestion 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 was repeated with
ore grade four acid digestion method (Cu, Pb, Ag-OG62). Where OG62 results were greater or
near 1500 ppm Ag the assay was repeated with 30 g nominal weight fire assay with gravimetric
finish (Ag-GRA21). QA/QC programs channel samples using internal standard and blank
samples; field and lab duplicates indicate good overall accuracy and precision.
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