Hercules Silver (TSXV: BIG) has begun a large phase three drill program at its Hercules Silver property in western Idaho. The program has been designed as a follow-up to last years discovery of a new porphyry at the property, which included intersects such as 0.84% copper and 11 ppm molybdenum over 185.29 metres.
The drill program that is now underway intends to drill up to 20,000 metres across the property, with drilling to occur on 200 metre centers. Drilling is to start to the west of the discovery area, testing new magnetic, conductivity, and chargeability anomalies identified last year following an IP survey that was conducted.
Conducting the program are two drill rigs that are capable of drilling as deep as 1,000 metres, as well as a third rig that can drill as much as 2,000 metres deep. The actual number of holes drilled under the program is to depend on the depth of the holes, the details of which were not released and are said to be determined based on visual logging of mineralization. The drills are to operate continuously on two 12-hour shifts.
Targets under the program are to consist of the major discovery hole, HER-23-05, which intersected the aforementioned mineralization, as well as a conductivity anomaly at the Belmont zone, two magnetic high anomalies below the Belmont and Grade Creek Zones, and a new surface chargeability anomaly at the Big Cut Skarn.
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“Our much-anticipated Phase III drill program is officially underway, with all three drill rigs mobilized and turning. This is the largest program we have had to date and is backed by an immense amount of planning and interpretation supported by our largest shareholder, Barrick Gold Corporation. The team has been on site since April 14, further re-logging the 2023 drill core and developing new insights into the porphyry controls and targets,” commented Chris Paul, CEO of Hercules.
Hercules Silver last traded at $0.80 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.
