What Are Hercules Silver's Findings at the Leviathan Porphyry Project?
Hercules Silver Corp.
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What Are Hercules Silver's Findings at the Leviathan Porphyry Project?

Hercules Silver Corp's Leviathan Porphyry Discovery: A Comprehensive Analysis of Recent Drilling Results

January 2, 2024

Hercules Silver Corp, a leader in the mining industry, has reported promising assay results from its latest drilling at the Leviathan Porphyry Copper discovery at the Hercules project in western Idaho. These results signify a major step forward in understanding the scale and potential of the Leviathan Porphyry.

New Discoveries and Drilling Success

The assay results for drill holes HER-23-08, HER-23-11, and HER-23-21 reveal substantial mineralization, particularly in copper and silver. HER-23-21, in particular, showed an impressive 161 meters of 0. 45% Cu and 4. 4 g/t Ag, including a sub-interval of 79 meters of 0. 53% Cu and 7.

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3 g/t Ag.

Extensive Testing and Expansion Potential

These holes were strategically positioned to test different parts of a 2022 IP anomaly near the surface. The Leviathan Porphyry remains open for expansion in multiple directions and has been tested within a 500m x 450m area, indicating a substantial scope for further exploration.

2023 Deep Penetrating 3D IP Survey

A deep-penetrating IP survey conducted by Dias Geophysical in 2023 has revealed a much larger system than previously understood. The survey, covering the entire property to a depth of 900 meters, suggests the presence of a large, potentially zoned system with no apparent fault bounds and increasing chargeability values, indicative of higher levels of mineralization.

CEO's Perspective on the Discoveries

Chris Paul, CEO and Director of Hercules Silver, noted the significance of the step-out holes drilled up to 500 meters from the initial discovery. The drilling strategy, covering a 450m x 500m area, ended in mineralization in every hole, indicating the system's vast scale and potential for expansion. The intense veining and sulfide mineralization observed in the core photographs, posted on the company’s website, reflect the system's scale.

Barrick Gold Corp's Premium Investment

Utilizing large step-outs for property-scale targeting has attracted substantial investment from Barrick Gold Corp. , enabling Hercules Silver to aggressively drill the new large-scale IP anomaly and vector toward the high-grade core of the system.

Additional Staking for Expansion

To capitalize on this opportunity, the company has staked an additional 570 lode mining claims to the north of the property, extending the key area of the new 3D IP anomaly.

Geological Description of Drill Holes

The intersected holes showed strong phyllic alteration with high pyrite to chalcopyrite ratios, indicative of a system's marginal part. Bornite mineralization near the top of the reported intercepts suggests the potential for significant mineralization.

Future Prospects and Exploration

With additional processing and data interpretation in collaboration with Barrick’s geophysical team, Hercules Silver is poised to generate optimal drill targets for the next phase of drilling, potentially uncovering the full scale of the Leviathan Porphyry system.

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