Hercules Silver (TSXV: BIG) started the new year off on a positive note this morning with the released of drill results from three step-out holes conducted at its new Leviathan Porphyry Copper discovery.
The three holes reported on this morning were designed as step-outs to the HER-23-05 discovery hole, which interested 185 metres of 0.84% copper and 111 pm molybdenum. The step-outs ranged from 220 metres to 500 metres, and were to the east and southeast, focusing on an IP anomaly discovered in 2022.
Highlights from the results include:
- HER-23-08: 0.32% copper, 86 ppm molybdenum, 0.5 g/t silver over 437.5 metres from a depth of 276.3 metres, including 0.5% copper, 48 ppm molybdenum, and 0.9 g/t silver over 88.55 metres
- HER-23-11: 0.30% copper, 61 ppm molybdenum, and 25 g/t silver over 63.16 metres from 233.11 metres depth
- HER-23-21: 0.45% copper, 148 ppm molybdenum, and 4.4 g/t silver over 161.12 metres from 248.41 metres depth, including 0.53% copper, 113 ppm molybdenum, and 7.3 g/t silver over 79.25 metres
The porphyry is said to remain open for expansion in multiple directions, with copper mineralization identified over a 500 metre by 450 metre area to date. A newly conducted IP survey meanwhile suggests that the anomaly identified is part of a larger 4 kilometre long system which is largely untested.
Assays remain pending for hole HER-23-26, along with the remainder of hole HER-23-21, for which only partial assays have been received.
READ: Barrick Gold Increases Stake In Hercules Silver To 15%
“Utilizing large step outs has allowed us to employ property scale targeting and attracted a substantial premium investment from Barrick Gold Corp. which positions the Company to aggressively drill a new large-scale IP anomaly over several kilometers as we vector toward the potentially high-grade core of the system,” commented CEO Chris Paul.
The company also identified it has staked an additional 570 lode claims to the north of the property as it works to secure extensions to the IP anomaly.
Hercules Silver last traded at $1.38 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.
