Tier One Silver Reports High-Grade Copper-Nickel Results from New Target at Hurricane Project in Peru
Tier One Silver Reports High-Grade Copper-Nickel Results from New Target
at Hurricane Project in Peru
Vancouver, Canada – February 16, 2023 – Tier One Silver Inc. (TSXV: TSLV, OTCQB: TSLVF) (“Tier
One” or the “Company”) is pleased to report composite chip sampling highlights (covering 1 square
metre per sample ) of 1.59% copper (Cu), 0.24% nickel (Ni), 0.22 g/t palladium (Pd), 0.13 g/t
platinum (Pt), 204 g/t cobalt (Co), 0.21 g/t gold (Au) ; 1.43% Cu, 1.86% Ni, 0.16 g/t Pd, 0.18 g/t
Pt, 1,110 g/t Co and 0.84% Cu, 2.26% Ni, 0.24 g/t Pd, 0.24 g/t Pt, 1,280 g/t Co from the new
Rayanpata target area at the Hurricane project in southern Peru (Figure 1). These results are part
of a new area that is located 3 kilometres (km) north from the Magdalena high-grade silver vein
target. The majority of the samples report high-grade values for copper, nickel and cobalt, and all
of the results appear to be related to magmatic-style sulphide mineralization within a gabrodioritic
sill. Of the 17 samples from Rayanpata, 65% report values above 0.1% Ni, 35% report values above
0.1% Cu and two samples report values above 1,000 g/t Co. Table 1 summarizes the highlights from
the composite chip sampling program.
A Message from Christian Rios, SVP, Exploration:
“Hurricane’s new Rayanpata target, and the San Cipriano and Ñañohuayco targets, are part of the
first copper-nickel magmatic sulphide system that we know of in Peru . The Rayanpata target was
found after only five days of field work , with occurrences identified over an area that is
approximately 2 km by 800 metres in size. The system remains open in all directions and additional
field work will focus on the identification of extensions to known mineralization, as well as additional
mineralized structures. We are looking forward to advancing this new, high-grade target.”
A Message from Peter Dembicki, CEO:
“Our Hurricane project continues to provide high -grade results, not only from existing targeted
areas, but additional areas that have been of interest to our technical team since we optioned the
project. We certainly believe that these copper and nickel grades are worth pursuing as we continue
to define our Hurricane exploration programs for this year.“
Rayanpata Cu-Ni Structures:
Sulphide mineralization occurs in gabrodioritic sills and breccias with high values of nickel, cobalt
and copper. Reconnaissance sampling work, including sampling of outcropping mafic intrusives,
provided an initial assessment of grade potential and distribution (Figures 1 - 2 and Table 1).
Two styles of mineralization have been recognized to date: crackle breccia type mineralization and
gabrodioritic sills in the hanging wall to the breccias, with disseminated chalcopyrite, pentlandite,
and copper oxides. These structures were recognized and sampled in the Rayanpata creek as nearly
85% of the target area is obscured by shallow erosional cover and vegetation. The area is open in
all directions and Tier One’s technical team believes there is significant potential to discover
extensions and additional mineralized structures. The only sample that was not taken from
outcropping mineralization reported values of 1.3 3% Cu, 0.80% Ni and 540 g/t Co, indicating the
potential for buried intrusives in the area.
The next phase of exploration at the Rayanpata target will include detailed mapping to identify
similar structures or a possible magmatic source to the observed mineralization, as well as rock,
channel and soil sampling.
Table 1: Highlights of Composite Chip Sampling Program
Sample
ID Lithology Disposition Cu
(%)
Ni
(%)
Co
(g/t)
Ag
(g/t)
Au
(g/t)
Pd
(g/t)
Pt
(g/t)
918252 Crackle Breccia Outcrop 1.42 0.22 164.5 4.91 0.06 0.11 0.11
918253 Intrusive Porphyry Outcrop 0.96 0.14 139.0 2.13 0.04 0.03 0.03
918254 Equigranular Intrusive Outcrop 0.70 0.10 75.2 5.04 0.07 0.06 0.14
918255 Equigranular Intrusive Outcrop 0.86 0.17 124.5 2.67 0.04 0.06 0.07
918256 Intrusive Porphyry Outcrop 0.31 0.15 126.5 0.91 0.03 0.04 0.04
918257 Equigranular Intrusive Outcrop 0.71 0.07 79.4 2.16 0.03 0.02 0.02
918258 Equigranular Intrusive Outcrop 0.89 0.16 139.5 2.99 0.03 0.03 0.04
918259 Equigranular Intrusive Outcrop 0.88 0.17 145.0 2.66 0.03 0.04 0.05
918260 Equigranular Intrusive Outcrop 1.59 0.24 204.0 5.37 0.21 0.22 0.13
918261 Equigranular Intrusive Outcrop 1.53 0.32 251.0 4.60 0.04 0.06 0.07
918262 Equigranular Intrusive Outcrop 1.43 1.86 1110.0 3.18 0.03 0.16 0.18
918263 Equigranular Intrusive Outcrop 0.84 2.26 1280.0 1.39 0.03 0.24 0.24
918264 Equigranular Intrusive Outcrop 0.00 0.01 22.8 0.03 0.00 0.00 0.00
918265 Sandstone Outcrop 0.01 0.01 29.1 0.07 0.00 0.00 0.00
918266 Breccia Phreatic Outcrop 1.04 0.07 74.9 4.33 0.08 0.08 0.06
918267 Equigranular Intrusive Outcrop 0.65 0.06 79.7 2.14 0.01 0.02 0.02
918268 Intrusive Porphyry Boulder 1.33 0.80 540.0 3.77 0.04 0.09 0.11
Figure 1: Illustrates the location of the Rayanpata target and the results from an historical stream sediment survey
across the majority of the Hurricane property.
Figure 2: Illustrates the topography and copper-in-chip samples at the Rayanpata target.
Figure 3: Illustrates highlights from the composite chip sampling program at the Rayanpata target area and the location
of the outcropping structures in the area; A: Crackle breccia with strong oxidation, B: Gabrodiorite sill, C: Gabrodiorite
intrusive with patches of chalcopyrite and pentlanthite.
Christian Rios (SVP , 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.
Composite Chip Sampling:
Approximately 2-3 kg of rock material was collected over 1 square metre for analysis and sent to ALS Lab in Arequipa,
Peru for preparation and then to Lima, Peru for analysis. All samples are assayed for gold, platinum and palladium using
30 g nominal weight fire assay with ICP-AES finish method (PGM-ICP23) and for multi-element using four acid digest ICP-
AES/ICP-MS method (ME-MS61). Where MS61 results w ere greater or near 10 ,000 ppm Cu, 10 ,000 ppm Pb, 10,000 ppm
Zn or 100 ppm Ag, the assays were repeated with ore grade four acid digest method (Cu, Pb, Zn, Ag-OG62). Where OG62
results were greater or near 1,500 ppm Ag, the assays were repeated with 30 g nominal weight fire assay with gravimetric
finish (Ag -GRA21). QA/QC programs for 2022 rock samples at Hurricane using internal and lab standard and blank
samples, 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 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 the date of this news release. In particular, and without limitation, this news release contain s forward -looking
statements with respect to exploration plans.
Readers should refer to the risks discussed in the Company's Annual Information Form and Management’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.