Hercules Metals Set To Drill Test Two New Targets
Hercules Metals (TSXV: BIG) has approvals in hand to drill test two new priority targets at its flagship Hercules project in Idaho. The company has received a categorical exclusion from the United States Forest Service for a plan of operations that will see drilling taking place on USFS lands on the eastern portion of the property.
The approval will see Hercules drill test the Grade Creek and Eastern Block targets, which have never been tested below the depths of shallow epithermal mineralization.
At the Eastern Block, there is an interpreted fault block that contains three separate zones. The company is aiming to test whether mineralization plunges to the southeast, which would result in greater preservation potential. A large copper-molybdenum anomaly is said to span the entire target, along with elements that are typically found dispersed along copper porphyry systems.
READ: Hercules Completes 4,600 Metres Of Drilling, Encounters Hypogene Copper-Silver Enrichment
Grade Creek meanwhile is said to contain the best silver-lead-zinc and copper-molybdenum soil and rock chip anomaly on the property, with exploration to date suggesting it contains a northeastern extension of a pyrite rich phyllic zone. This zone is said to have potential for hypogene enrichment.
“In the north, the Grade Creek Zone shows the strongest geochemical anomaly on the Property. Despite this, historical operators were unable to test it due to steep terrain and associated road building challenges. The zone however represents the potential northeastern extension of a large phyllic zone, which is often overprinted with secondary (hypogene) copper enrichment,” commented Chris Paul, CEO of Hercules.
The company meanwhile is said to be in the early stages of conducting an environmental assessment on the property, which will secure longer term approvals to explore on USFS lands. The current permit allows for up to 15 pre-selected drill sites to be drill test through to August 2025.
The new targets are expected to be drill tested initially with core drilling, while RC drilling is set to commence in September at targets the company has been working on since 2023.
Hercules Metals last traded at $0.67 on the TSX Venture.
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