Tier One Silver to Commence Drill Program at High-Grade Flagship, Curibaya Project, in Southern Peru
Tier One Silver to Commence Drill Program at
High-Grade Flagship, Curibaya Project, in
Southern Peru
Vancouver, British Columbia--(Newsfile Corp. - January 8, 2026) -
Tier One Silver Inc. (TSXV: TSLV)
(OTCQB: TSLVF) (FSE: TOV0) ("Tier One"
or the
"Company")
is pleased to announce that it has
commenced preparations to drill the Cambaya target area of its high-grade Curibaya epithermal silver-
gold-copper project located in Tacna, Peru (Figure 1) through its wholly owned Peruvian subsidiary,
Magma Minerals S.A.C. The diamond drill program ("
Phase 2 Drilling
"), which will be the first follow up
drilling on the Curibaya project since the Company's successful inaugural drill program was completed in
2021 (see result highlights below), is targeted to be completed in Q1 2026. Phase 2 Drilling is expected
to consist of approximately 1,150 metres (m) using one drill rig (Figure 2) first targeting the high-grade
silver-gold epithermal mineralization defined at surface in the Cambaya area which has not been drilled
to date.
Summary of Phase 2 Drilling Plans:
Initial 1,150 m of diamond drilling in Q1 2026 to include seven (7) drill holes from four (4) platforms,
with one drill rig and an average depth of 150 m - 250 m per hole
Drilling objective is to test below four high-grade channel samples taken from the Cambaya 1
corridor in the upper part of the epithermal system:
22CRT-80 - 4.5 m of 408 g/t silver (Ag), 1.48 g/t gold (Au), including 1 m of 1,768 g/t Ag,
6.33 g/t Au
21CRT-55 - 20 m of 243 g/t Ag, 0.71 g/t Au, including 7 m of 667 g/t Ag, 1.48 g/t Au
21CRT-34 - 11 m of 232 g/t Ag, 1.61 g/t Au, including 1 m of 1,660 g/t Ag, 13.95 g/t Au
21CRT-56 - 8 m of 349 g/t Ag, 0.46 g/t Au, including 1 m of 2,680 g/t Ag, 3.14 g/t Au
Phase 1 Drilling Highlights:
Top intercepts from the Phase 1 discovery drill program include:
21CUR-016 - 7 m of 272 g/t Ag, 0.33 g/t Au, including 1.5 m of 1,129 g/t Ag, 1.04 g/t Au
(Sambalay corridor)
21CUR-006 - 1.5 m of 965 g/t Ag, 0.26 g/t Au, including 1 m of 1,431 g/t Ag, 0.39 g/t Au
(Madre corridor)
21CUR-009 - 3 m of 350 g/t Ag, 0.47 g/t Au (Tipal corridor)
21CUR-005 - 1 m of 446 g/t Ag, 1.83 g/t Au (Sambalay corridor)
Figure 1: Illustrates the position of the Curibaya Project with respect to the large copper porphyry mines
in Southern Peru.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/279812_tier1en.jpg
Phase 2 Drill Plan and Objectives
Phase 2 Drilling is planned to consist of seven (7) diamond drill holes from four (4) platforms (Figure 2)
for approximately 1,150 m of drilling in Q1 2026. The average depth of each hole is anticipated to be
between 150 m - 250 m per hole, however, depth will vary based on the progress of each hole.
Drilling will commence in the Cambaya 1 corridor, which has not yet been drilled. The Cambaya area is
composed of two corridors (Cambaya 1 and Cambaya 2) located in the upper part of the epithermal
system believed to be the preferred zonation for the silver mineralization discovered to date and more
than 250 m higher in topography than the corridors tested in the 2021 Phase 1 drill program. Extensive
surface mapping and channel sampling work to date has identified numerous targets where silver and
gold mineralization are exposed in multiple different areas of the Cambaya corridors (Figure 4).
The program aims to test the vertical continuity of mineralization underneath high-grade silver gold
channel sampling results in the Cambaya area and test high resistivity (>400 ohm-m) geophysical
features that correlates with quartz - silica structures (Figure 3). The high-priority target areas are where
the Company believes silver gold-rich fluids have concentrated, resulting in potentially substantial silver-
gold accumulations as seen in other precious metal vein deposits in Peru.
The program is planned to include scissor holes from multiple platforms, when warranted, to test the
geometry of the epithermal structures identified at surface, one of which is a scissor hole below hole 16
(21CUR-016) of the 2021 Phase 1 drill program, which yielded 7 m of 272 g/t Ag, 0.33 g/t Au, including
1.5 m of 1,129 g/t Ag, 1.04 g/t Au, with the aim of testing 70 m below the 1,129 g/t Ag, 1.04 g/t Au
interval (Figure 5).
All planned Phase 2 drilling is within the permitted area of the Company's current drill permit held through
its subsidiary, Magma Minerals S.A.C., which is in place until October 2026 and allows for up to 200 drill
holes from 22 drill pads. The current permitted area also encompasses the Cambaya 2 corridor where
additional targets have been identified. Subject to initial drill results and additional financing, the
Company may look to expand drilling activities in this prospective area.
Peter Dembicki, CEO and President of Tier One
commented,
"We are very excited to commence
our Phase 2 drill program at Curibaya, which will focus on the high-priority Cambaya 1 corridor — an
area that sits 250 meters higher in elevation than our Phase 1 drill sites and has demonstrated high-
grade silver and gold grades at surface. Building on our first-phase results, which included high-grade
intercepts such as 1 m of 1,431 g/t Ag, 0.39 g/t Au and 1.5 m of 1,129 g/t Ag, 1.04 g/t Au, this next
round of drilling is designed to test directly beneath where high-grade channel samples were taken
and expand our understanding of the precious-metal window identified in the northeast portion of the
project. We are excited to resume drilling, supported by the continued strength in the silver and gold
markets."
Table 1: Highlights from previous channel sampling
Channel ID
From (m)
To (m)
Length (m)
Ag (g/t)
Au (g/t)
21CRT-34
26.0
37.0
11.0
232.1
1.61
Incl.
34.0
35.0
1.0
1,660.0
13.95
21CRT-36
19.0
28.0
9.0
409.0
0.41
Incl.
22.0
25.0
3.0
949.7
0.82
21CRT-44
6.0
8.0
2.0
1,074.0
0.53
21CRT-52
8.0
10.0
2.0
1,736.5
1.61
Incl.
8.0
9.0
1.0
3,170.0
2.00
21CRT-55
4.0
24.0
20.0
242.7
0.71
21CRT-56
2
10
8
349.1
0.46
Incl.
6
7
1
2,680.0
3.14
22CRT-080
2.5
7
4.5
408.2
1.48
Incl.
2.5
3.5
1
1,768.0
6.33
22CRT-101
0.5
3.0
2.5
136.4
0.82
Incl.
2.5
3.0
0.5
568.0
3.37
24CRT-164
1
2
1
151.5
0.09
Incl.
1
1.5
0.5
280.0
0.14
24CRT-167
0.5
2
1.5
3,095.6
1.72
Incl.
1
1.5
0.5
8,950.0
4.13
24CRT-168
1
1.5
0.5
185.0
0.56
24CRT-169
0.5
1.5
1
161.7
0.11
Incl.
0.5
1
0.5
292.0
0.17
24CRT-172
1
1.5
0.5
262.0
1.63
24CRT-173
0.5
1
0.5
233.0
0.32
Main Interval >= 25ppm AgEq, Sub-Interval >= 75ppm AgEq
AgEq grades which were used for interval selection only, were calculated using silver price of US$18/oz and gold price of US$1,300/oz.
Metallurgical recoveries were not applied to the silver equivalent calculation.
True widths of mineralization are unknown due to the unknown mineralized zones orientation.
(see additional technical disclosures below)
Figure 2: Illustrates a general location map of the proposed four drill platforms for the second phase of
drilling at the Curibaya Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/279812_tier2en.jpg
Figure 3: Correlation between resistors with Cambaya I and Cambaya II corridors and structures.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/279812_tier3en.jpg
Figure 4: Platforms 26CUR001 and 26CUR002
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/279812_tier4en.jpg
Figure 5: Platforms 26CUR003 and 26CUR004
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/279812_tier5en.jpg
Summary of Phase 1 Drill Program
The key technical advancement from the first phase of drilling at Curibaya was the recognition of a
precious metals window that is linked to higher elevations within the project area. The ridges that host
the veins within the Tipal, Sama, Madre and Sambalay corridors have a maximum elevation of
approximately 2,100 m, whereas vein mineralization in the northeastern area of the project, the
Cambaya target area, has elevations of approximately 2,200 m - 2,400 m (Figure 6). Given the increase
in elevation of up to approximately 300 m, the outcropping epithermal veins from southwest to northeast,
and the higher stratigraphic level to the northeast, the Company has interpreted that there has been less
erosion in the northeast area of the project and therefore there is a higher potential for preserved
epithermal mineralization. This is corroborated with the observed illite- smectite clay alteration.
Figure 6: Longitudinal Section looking to the North, see changes in elevation and location of first three
platforms.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11601/279812_tier6en.jpg
The precious metals window observed at Cambaya indicates an erosion level approximately 150 m
below the paleo water table, whereas vein outcrops to the southwest have been eroded approximately
300 m deeper at the Sama, Tipal, and Madre corridors. This demonstrates that the corridors in the
southwest are 450 m beneath the paleosurface, which is consistent with the common illite alteration
observed within those corridors. At the Cambaya area, high arsenic anomalies at surface indicate that
the Ag - Au horizon is preserved and close to surface. This provides a precious metals corridor of
approximately 300 m - 400 m within the Cambaya target area with high-grade channel sampling results
(see highlights section). In addition, Tier One's technical team believes that the 1 km northern extension
from drill hole 21CUR-016 that intercepted 1.5 m of 1,129 g/t Ag, 1.04 g/t Au at the Sambalay corridor is
highly prospective, as elevation is gained to the north toward Cambaya, and therefore the vertical extent
of the precious metals window is increasing in that direction (Figure 6).
Table 2: Highlights from Phase 1 Program
Corridor
Hole ID
From
(m)
To
(m)
Length
(m)
Ag
(g/t)
Au
(g/t)
Zn
%
Pb
%
Madre
21CUR-001
1
166
197
31
15.8
0.03
0.185
0.02
Madre
21CUR-003
1
43
54
11
68.8
0.21
0.003
0.02
Incl.
2
50
54
4
173.8
0.50
0.003
0.03
Sambalay
21CUR-005
1
161
162
1
446.0
1.83
0.026
0.01
Madre
21CUR-006
1
107.5
111
3.5
418.7
0.12
0.184
0.16
Incl.
2
108
109
1
1,431.0
0.39
0.182
0.343
Madre
21CUR-008
1
192
200.5
8.5
15.0
0.19
0.741
0.38
Incl.
2
197
199.5
2.5
41.3
0.47
1.746
0.972
1
209
237
28
8.2
0.12
0.392
0.06
Incl.
2
213
215
2
26.9
0.50
0.788
0.120
and
232.5
235
2.5
23.4
0.19
1.028
0.081
2
269
271
2
32.7
0.13
2.010
0.585
Tipal
21CUR-009
1
82
87.5
5.5
200.8
0.27
0.012
0.01
Incl.
2
83
86
3
349.7
0.47
0.011
0.013
Sambalay
21CUR-015
2
153
154.5
1.5
216.0
0.11
0.113
0.009
Sambalay
21CUR-016
1
139
146
7
272.3
0.33
0.046
0.03
Incl.
2
142.5
144
1.5
1,128.7
1.04
0.146
0.085
1. AgEq (Ag,Au) intervals at 25ppm (minimum 5m, max consecutive dilution 6m)
2. AgEq (Ag,Au) intervals at 75ppm (minimum 1m, max consecutive dilution 2m)
AgEq grades used for interval selection only, were calculated using: Au $1,300/oz, Ag $18/oz; True widths of mineralization are unknown due to the
unknown mineralized zones orientation.
See news releases dated November 4 & 18, 2021, January 24 & February 14, 2022
Qualified Person
Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and approved 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 visit the
Company's website:
www.tieronesilver.com
.
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 South America. The Company is
focused on its flagship exploration project, Curibaya, but continues to investigate other potential projects
of merit. The Company's management and technical teams have a strong track record in raising capital,
discovery and monetization of exploration success.
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 channel samples using internal standard
and blank samples; field and lab duplicates indicate good overall accuracy and precision.
Silver equivalent grades (AgEq), which were use for interval selection only, 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.
Main Interval - AgEq (Ag, Au) intervals at 25 ppm (minimum 5 m, max consecutive dilution 6 m)
Sub-Interval - AgEq (Ag, Au) intervals at 75 ppm (minimum 1 m, max consecutive dilution 2 m).
True widths of mineralization are unknown due to the unknown mineralized zones orientation.
Drilling
Analytical samples were taken by sawing HQ or NQ diameter core into equal halves on site and sent one
of the halves 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 10,000 ppm Cu, 10,000 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 1,500 ppm Ag the
assay were repeated with 30 g.
QA/QC programs for 2021 core samples using company and lab duplicates, standards and blanks
indicate good accuracy and precision in a large majority of standards assayed.
Silver equivalent grades (AgEq), which were used for interval selection only, were calculated using silver
price of US$18/oz and gold price of US$1,300/oz. Metallurgical recoveries were not applied to the silver
equivalent calculation.
Main Interval - AgEq (Ag, Au) intervals at 25 ppm (minimum 5 m, max consecutive dilution 6 m)
Sub-Interval - AgEq (Ag, Au) intervals at 75 ppm (minimum 1 m, max consecutive dilution 2 m)
True widths of mineralization are unknown due to the unknown mineralized zones orientation.
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 in connection with the drill program. 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.
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, 2024, 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/279812