Hercules Metals (TSXV: BIG) is set to “imminently” launch a 12,000 metre drill campaign at its flagship Hercules project in Idaho. The program is set to follow the completion of the first 3D block model of the Leviathan discovery.
The completed 3D model is expected to guide the oncoming drill program, with the model having defined a kilometer-scale northeast to southwest trending porphyry system. The model has defined that a southeast-dipping shell of mineralization exists around a central porphyry intrusion, with a near perfect correlation existing between chargeability and magnetics, validating the model and expansion potential.
The planned drill program will build upon the model, with a series of 200 metre spaced fences being used to grow the porphyry while also expanding the region to include the Grade Creek and Southern Flats zones. Drilling is also expected to be oriented to the northwest in an effort to increase consistency and hit rates of the southeast dipping mineralization.
“This 3D model represents a major milestone in the evolution of our exploration at Leviathan. [..] Approaching drilling with a systematic, fence-based strategy aimed at delineating an existing model, we expect significantly higher hit rates, longer mineralized intercepts, and fewer misses. This renewed confidence has brought a level of anticipation we haven’t felt since the initial discovery in 2023,” commented Chris Paul, CEO of Hercules Metals.
A total of 23 holes are expected to be drilling under the planned program, with the program having a budget of $6.6 million. A joint IP and MT survey is also expected to begin in May, which will be used to expand geophysical coverage over the recently expanded land package.
Hercules Metals last traded at $0.56 on the TSX Venture.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
