Tier One Silver Resumes Exploration Activities on Highly Prospective Cambaya Corridor at Curibaya
Tier One Silver Resumes Exploration Activities on Highly
Prospective Cambaya Corridor at Curibaya
Vancouver, Canada – July 15, 2024 – Tier One Silver Inc. (TSXV: TSLV) (OTCQB:TSLVF) (“Tier One ” or the
“Company”) is pleased to announce that it has resumed exploration activities at its flagship Curibaya project,
located in Southern Peru. The exploration program has been planned to cover three main project zones within
the Company's high-priority silver-gold corridors that have been underexplored to date: Cambaya I , Cambaya II
and the recently identified polymictic breccia in Zone 1 (Figure 1). The program will consist of two to three months
of field work, including sampling and geological mapping, with the aim of expanding and defining the potential of
the precious metal epithermal corridors and the porphyry target based on existing geoche mical and CSAMT
geophysical anomalies, to delineate drill targets for the drill program anticipated for later this year.
Peter Dembicki, CEO and Director of Tier One commented, “We are excited to be resuming exploration at our
highly underexplored Curibaya property. We have only explored a small fraction of the project and identified six
distinct silver-gold mineralized kilometric corridors to date . Our focus for this program, and upcoming drilling , is
the Cambaya corridors, which are higher in elevation where there is potential for high grade silver mineralization
and scale. We are still very early in our exploration efforts of pursuing a world class discovery in Peru. Evidence
gathered to date from surface mineralization and drill holes has strengthened our thesis that both a high -grade
precious metals system as well as a porphyry copper system could exist on the large prospective property.”
Cambaya I and Cambaya II Corridors:
The Cambaya structural corridors are located in the northeast area of the project (Figure 1), which is the highest
target in topographic elevation (2400m above sea level) and within the epithermal system with highly elevated
arsenic values, indicating that the potentialGrearprecious metals horizon is being preserved at shallow depth (see
news release date September 26, 2022).
Highlights from previous channel sampling (refer to press release s dated October 14, 2021 and September 26,
2022) in these corridors include:
• 4.5 metres (m) of 408.2 g/t silver (Ag) and 1.48 g/t gold (Au), including 1 m of 1,768.0 g/t Ag and 6.33 g/t
Au, in 22CRT-080;
• 8 m of 349.1 g/t Ag and 0.46 g/t Au, including 1 m of 2,680.0 g/t Ag and 3.14 g/t Au, in 21CRT-56;
• 2.5 m of 136.4 g/t Ag and 0.82 g/t Au, including 0.5 m of 568.0 g/t Ag and 3.37 g/t Au, in 22CRT-101;
• 20 m of 242.7 g/t Ag and 0.71 g/t Au in 21CRT-55;
• 2 m of 1,074 g/t Ag and 0.53 g/t Au in 21CRT-44;
• 11 m of 232.1 g/t Ag and 1.6 g/t Au, including 1 m of 1660 g/t Ag and 14 g/t Au, in 21CRT-34;
• 9 m of 409 g/t Ag and 0.4 g/t Au including 3 m of 949.7 g/t Ag and 0.8 g/t Au in 21CRT-36;
• 2 m of 1736.5 g/t Ag and 1.6 g/t Au including 1 m of 3170 g/t Ag and 2 g/t Au in 21CRT-52.
The intention for this fieldwork campaign is to extend both corridors and gain a better understanding of the
geometry of the ore shoots within each corridor.
Figure 1: Illustrates a geological map of the Curibaya area and the location of the two main corridors, Cambaya I
and Cambaya II, and the polymictic breccia.
Zone 1:
The Company will also be following up on the strong stream sediment copper signatures in Zone 1, which is located
on the west side of the primary Cambaya I and Cambaya II corridors, where minimum exploration has occurred
to date (Figure 2).
Besides having high bulk leach extractable gold (“ BLEG”) anomalies in copper and gold, this area returned high
grade silver samples up to 1 ,360 g /t Ag, 42.20 Au and 6.12% Cu related to silicified fragments in a possible
polymictic shatter breccia.
Field work in this campaign will be focused on extending the north-south extension of this polymictic breccia and
to help better understand its geometry.
Figure 2: Illustrates a general location map of Zone 1 on the Curibaya project and copper BLEG anomalies. See
location of the polymictic breccia containing high-grade fragments with values up to 1,360 g/t Ag, 42.20 Au and
6.12% Cu.
The current exploration work will help to further delineate drill targets within the area that has greater widths
and higher grades (Fig ure 3), for a follow up drill program planned, subject to financing, to test the targets
identified within the Cambaya corridors.
Figure 3: Illustrates the preliminary drill holes planned for the Company’s next drill campaign. Current field work
will further delineate final drill targets.
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 the Company at (778) 729 -0700 or
Capital Markets Contact:
Julia Becker
About Tier One Silver
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through
the discovery of world -class silver, gold and copper deposits in Peru. The Company is focused on its flagship
exploration project, Curibaya. The C ompany’s management and technical teams have a strong track record in
raising capital, discovery and monetization of exploration success. For more information, visit
www.tieronesilver.com.
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 e vents in connection with the Company’s plans to resume exploration at its
Curibaya project . Forward -looking statements are not historical facts and therefore 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 contains forward -looking statements in regard to future exploration plans , including drilling . Readers
should refer to the risks discuss ed in the Company's Annual Information Form and Management’s Discussion &
Analysis for the year ended December 31, 2023, and subsequent continuous disclosure filings with the Canadian
Securities Administrators available at www.sedarplus.ca.
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.