Hercules Silver (TSXV: BIG) is currently in the planning stages for a large 20,000 metre drill program to follow up on its major discovery made in Idaho last year at its Leviathan property.
The program is said to be aided by Barrick Gold’s senior technical expertise, and follows positive drill results and IP data released this morning. The IP survey, conducted in late 2023, indicates that potential exists for significant expansion along a multi-kilometre trend.
Drilling under the planned program will consist of step outs to the north and west of drilling conducted in 2023, with the intent of testing “several kilometres” of a chargeability/conductivity target.
Continued drilling in 2023 has confirms that copper grades increase to the west, suggesting the company is moving towards the high-grade core of the porphyry system. Highlights from the results released this morning include:
- HER-23-21: 0.22% copper, 80 ppm molybdenum, 1.3 g/t silver over 758.65 metres, from 248.41 metres depth
- Including 0.45% copper, 148 ppm molybdenum, 4.4 g/t silver over 161.12 metres
- HER-23-26: 0.40% copper, 74 ppm molybdenum, 1 g/t silver over 460.76 metres, from 338.85 metres depth
- Including 0.76% copper, 113 ppm molybdenum, 1.7 g/t silver over 100.06 metres
The porphyry is said to remain open for expansion in multiple directions, with drill testing to date occurring within the 2022 IP survey area.
“The 2023 drilling season has been a massive success for the Company where testing of a large epithermal silver system at depth resulted in one of the most significant porphyry copper discoveries in the Western US in recent years. The first phase of blind drilling has now tested the copper porphyry system over a 500m x 450m area, with grades increasing to the north and west,” commented Chris Paul, CEO of Hercules Silver.
Hercules Silver last traded at $0.68 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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