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Posted at 19/11/2024 17:59 by stu31 Hercules Intersects 338 Meters of 0.47% Cu with Mineralization Increasing at Depth and to the NorthToronto, Ontario--(Newsfile Corp. - November 19, 2024) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: 8Q7) ("Hercules Metals" or the "Company") is pleased to announce new drill intercepts from its Hercules Property in western Idaho (“HerculesR Highlights Strongest primary mineralization below the enrichment blanket to date. The headline drill hole, HER-24-12, is a 315m step-out, northeast from HER-24-08, which recently intersected 480m of 0.47% Cu, 82 ppm Mo, including 55m of 1.5% Cu (See news release dated Oct 10, 2024). A new trend of increasing copper and potassic alteration toward a large untested chargeability and magnetic anomaly at the Grade Creek Zone (Figs. 1, 2, 4, 5). Trend is intersected progressively closer to surface to the north (Fig. 2). Modelling now constrains the geometry of a late porphyry intrusion (Fig. 2), allowing drilling to focus on the significantly better grades in all directions. Click here to view a summary of today's new release delivered by the Company's CEO, Chris Paul. Chris Paul, CEO and Director of the Company, noted: "Seeing primary copper grades now increasing below the secondary enrichment blanket is certainly an exciting new development for the project. The increasing grade as well as alteration temperatures to the north has significant implications for the large geophysical anomalies underlying the Grade Creek Zone (Figs. 4, 5). Review of core photos also shows early "A" and "B" veins intensifying down hole, both of which are known to increase toward the center of porphyry systems. Associated with the A and B veins is a transition from phyllic to biotite (outer potassic) alteration, potentially signaling proximity to a porphyry center." HER-24-12 CORE PHOTOS AVAILABLE FOR VIEWING AT: hxxps://www.hercules Table 1: Significant Intercepts Hole ID From (m) To (m) Interval (m) Cu (%) Ag (g/t) Mo (ppm) HER-24-12 306.48 644.35 337.87 0.47 1.55 71 including 325.68 365.61 39.93 0.79 0.97 65 including 306.48 451.71 145.23 0.53 2.24 49 including 490.73 644.35 153.62 0.51 1.12 104 HER-24-11 236.22 516.94 280.72 0.31 0.47 32 including 310.59 364.85 54.26 0.70 0.73 40 HER-24-13 159.65 229.5 69.85 0.70 1.21 22 including 159.65 197.54 37.89 1.14 1.64 30 Cannot view this image? Visit: hxxps://images.newsf Figure 1: Drill Plan with grade bars for copper (orange) and molybdenum (blue) for holes with assays received. Approximate surface projection of enrichment blanket (secondary) and early biotite alteration (primary). Cross-section locations shown for Figures 2 and 3. To view an enhanced version of this graphic, please visit: hxxps://images.newsf Cannot view this image? Visit: hxxps://images.newsf Figure 2: Cross-section B - B' showing the orientation of the late porphyry intrusion and the strong contrast that copper grade has in the surrounding rock. Outside of the late porphyry, biotite altered wallrock is well mineralized, and increasing in intensity to the north. 24-12 has intersected the strongest primary hypogene grades outside of the enrichment blanket thus far. To view an enhanced version of this graphic, please visit: hxxps://images.newsf Geological Summary Two types of mineralization occur within the Leviathan system. Primary hypogene mineralization, which formed during initial emplacement of the porphyry system, as well as a secondary blanket of enrichment which formed during a younger hydrothermal pulse. The primary mineralization is the main target, as it will often extend vertically for many hundreds of meters down the center of porphyry systems. The enrichment blanket forms an attractive layer of high-grade bornite and chalcocite mineralization closest to surface, while the primary mineralization represents a larger target, with potential for yet its own high-grade core. HER-24-12 encountered bornite and chalcocite mineralization, typical of the secondary enrichment blanket, which then transitions downward into the primary hypogene system. The primary system begins with phyllic alteration at the top, intensifying downward to a higher temperature biotite alteration with stronger chalcopyrite-pyrite mineralization. This represents the first hole in which the primary hypogene system strengthens with depth, indicating it may be the closest drilled to the hypogene core of the system. Figure 2 presents a cross-section of HER-24-12, relative to a late porphyry that is lower grade than the surrounding volcanic rocks. However, as new drilling was completed, the late porphyry was modelled in 3D, which has significantly enhanced the Company's targeting of the higher-grade volcanic host rocks. Figure 2 provides an example of the strong increase in grade outside of the late porphyry. It should be noted that the causative early porphyry intrusion at Leviathan remains to be identified. Early porphyry intrusions can often contribute upwards of 90% of the copper to porphyry systems and are frequently higher in grade than the surrounding volcanic wall rocks. The large Grade Creek Zone and its prospective geophysical anomalies present a compelling area to begin testing for such a target. Figure 2 illustrates the volcanics underneath the late porphyry are increasing in both grade and alteration, at progressively shallower depths to the north. Grades increase from 0.30% in 23-21 to 0.51% in 24-12 and are open toward a large area of anomalous chargeability and magnetics in the Grade Creek Zone (Fig. 4, 5). HER-24-11 drilled into the upper edge of the late porphyry but exited into phyllic altered volcanics at the end of hole, with a significant increase in grade. The geological model presented here suggests that extending 24-11 would have strong potential for encountering potassic alteration with increasing grades. HER-24-13 intersected strong enrichment blanket mineralization grading 1.14% Cu over 38 meters. The hole only cut the now modelled late porphyry, which is clear evidence that the strong grades introduced by the secondary enrichment blanket are younger, and were deposited after emplacement of the entire porphyry system. Cannot view this image? Visit: hxxps://images.newsf Figure 3: Long-section A - A' showing increase in primary hypogene grade below enrichment blanket in HER-24-12. To view an enhanced version of this graphic, please visit: hxxps://images.newsf Cannot view this image? Visit: hxxps://images.newsf Figure 4: Depth slice through 3D magnetic inversion at level of porphyry system, showing untested magnetic anomalies relative to early biotite (outer potassic) alteration and increasing grade. To view an enhanced version of this graphic, please visit: hxxps://images.newsf Cannot view this image? Visit: hxxps://images.newsf Figure 5: Chargeability depth slice at 400 meters below surface. Drilling has largely been constrained within a broad zone of high chargeability and low magnetic intensity, characteristic of phyllic alteration. The Grade Creek Zone however is host to a large region of moderate chargeability (13-17 mV/V) and higher magnetic intensity, prospective for potential potassic alteration. To view an enhanced version of this graphic, please visit: hxxps://images.newsf Cannot view this image? Visit: hxxps://images.newsf Figure 6: The strongest chargeability on the Property, the Western Deeps Anomaly, is visible in a 600-meter IP depth slice. A single core hole attempted earlier this season, HER-24-10, was lost in Jurassic cover above the anomaly, failing to reach the target. Legacy Drilling's powerful RC rig will make the second attempt by starting in the east and drilling northwest through the Jurassic cover sequence early in the hole. To view an enhanced version of this graphic, please visit: hxxps://images.newsf Table 2: Reported Drill Hole Locations Hole ID Easting Northing Elevation Depth (m) Azimuth Dip HER-24-11 511412.9 4956761.1 1401.6 522.4 58.04 -69.2 HER-24-12 511470.8 4957006.5 1405.2 644.4 90.43 -70.15 HER-24-13 511825.6 4956571.1 1507.1 639.8 90.19 -62.02 Sample Analysis and QAQC All drill core samples were prepped and analyzed at MSA Labs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory. Samples were dried and crushed to 2mm, from which a 250g sub-sample split was then pulverized to 85% passing a 75 micron sieve. Following preparation, assays were determined by the IMS-230 method. A 0.25g aliquot of the prepared pulp was digested in a 4-acid solution consisting of hydrochloric, nitric, perchloric and hydrofluoric acids. 4-acid is a near total digest and only the most highly resistant minerals are not dissolved. The resulting solution was analyzed via ICP-MS and ICP-ES for 48 elements and was corrected for inter-element spectral interferences. Lower detection limits for this procedure are 0.01 ppm for silver, 0.5 ppm for lead, 2 ppm for zinc, and 0.2 ppm for copper. Mercury is not reported due to volatilization in reaction with hydrofluoric acid and gold is not reported due to the small, 0.25g aliquot size being insufficient to overcome the nugget effect. Gold was analyzed by FAS-111, a 30-gram fire assay fusion with AAS finish. No significant results were reported. Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by procedures ICF-6Ag, ICF-6Cu, ICF-6Pb and ICF-6Zn. The thresholds are 100 ppm for silver, and >1% for copper, lead and zinc. MSA Labs employs internal quality control standards, duplicates and blank samples at set frequencies. Blind certified reference materials (CRMs) and blank samples were systematically inserted by the Company into the sample stream and analyzed as part of the Company's quality assurance/quality control protocol. Qualified Person The scientific and technical information in this news release has been reviewed and approved for disclosure by Christopher Longton BS, CPG, Hercules' Vice President, Exploration. Mr. Longton is a "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Hercules Metals Corp. Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: 8Q7) is an exploration Company focused on developing Idaho's newest copper and silver district. The 100% owned Hercules Project located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important discoveries in the region to date. The Company is well positioned for growth through continued drilling, supported by extensive historical and current exploration and a strategic investment by Barrick Gold. With the potential for significant scale, the Company's management and board of directors aims to build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide. |
Posted at 04/11/2024 20:08 by stu31 Hercules Intersects Shallow Porphyry Mineralization and New Hydrothermal BrecciaToronto, Ontario / November 4, 2024 – Hercules Metals Corp. (“Hercules Metals” or the “Company” Highlights Mineralization begins at 72m depth in HER-24-20 and remains open toward a large surface anomaly. Mineralized early biotite alteration intersected in 3 new holes to the southeast – and potentially plunging under HER-23-14, previously thought to be the edge of the system. A separate zone of early biotite was also encountered at depth in holes HER-24-08 and HER-24-12, which may be related to a separate intrusive center to the north. New magmatic-hydrotherma Mineralized envelope continues to expand – remains open in multiple directions. RC drilling continues to provide additional value, testing new targets rapidly, both pre-collar and otherwise. Geological Summary Drill holes HER-24-19 through -21 begin in shallow phyllic alteration associated with the enrichment blanket and transition with depth into varying degrees of biotite alteration consistent with an outer potassic shell. These new holes have significantly expanded the zone of early biotite alteration which shows increasing strength toward the south. Of note is a separate zone of early biotite encountered at depth in holes HER-24-08 and HER-24-12 which have the potential to be related to a yet undiscovered intrusive center to the north. HER-24-05 encountered a plug of late porphyry associated with a chargeability low, however high chargeability continues further south of Camp Creek and remains to be tested. Core drilling failed to reach the unconformity at this southern target but depending on weather conditions, Legacy Drilling may be able to test for further extensions of the system in this direction. Legacy was able to complete HER-24-17 to the maximum working depth capacity of the RC rig at 975 m in very challenging ground conditions. The alteration encountered will be interpreted once geochemical and spectral results have been received and processed on the fine chips. HER-24-19 and -21 both intersected enrichment blanket followed by intermediate sulfidation pyrite-chalcopyrite which remains open down plunge to the southeast. HER-23-14 was drilled at a shallow angle to the southeast in 2023, which is now interpreted to be subparallel with the plunge of the system. This may explain why the hole remained in the same distal alteration it started in, throughout its length. Future drilling will test underneath 23-14 by drilling northwest, against the plunge of the system. Prior to entering the enrichment blanket, HER-24-20 intersected a compelling new magmatic hydrothermal breccia from 76m to 157m downhole, representing the first of its kind to be intercepted at Hercules. The breccia consists of strongly veined clasts of porphyry and wall rock within a fine chloritic matrix that becomes progressively more intrusive in nature near its footwall contact. Intermediate sulfidation pyrite-chalcopyrite mineralization occurs in the latter half of the intercept, within the matrix as well as clasts, and appears to increase in intensity downwards. The hole currently remains in progress in early biotite alteration. Core photographs for the breccia intercept in HER-24-20 can be viewed on the Company’s website at the following link: hxxps://www.hercules Qualified Person The scientific and technical information in this news release has been reviewed and approved for disclosure by Christopher Longton BS, CPG, Hercules’ Vice President, Exploration. Mr. Longton is a "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. About Hercules Metals Corp. Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FWB: 8Q7) is an exploration Company focused on developing Idaho’s newest copper and silver district. The 100% owned Hercules Project located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important discoveries in the region to date. The Company is well positioned for growth through continued drilling, supported by extensive historical and current exploration and a strategic investment by Barrick Gold. With the potential for significant scale, the Company’s management and board of directors aims to build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide. |
Posted at 01/10/2024 07:24 by parob Sold out. Director selling big red flag.Only small loss thankfully |
Posted at 19/8/2024 23:12 by stu31 Hercules Metals Announces Approval of Plan of Operations for Drilling New Targets on USFSToronto, Ontario / August 19, 2024 – Hercules Metals Corp. (“Hercules Metals” or the “Company” Highlights The USFS has issued a CatEx for up to 15 pre-selected drill sites to be tested through to the end of August 2025 (Figure 1). Two priority target areas, Grade Creek and the Eastern Block, have been selected for drill testing based on over 2,000 soil and outcrop chip samples, favourable chargeability values, and a theorized northwest tilt to the system. The Eastern Block is an interpreted fault block that includes the Metheny, Lighting and Big Cut zones. FS 17 or 18 will likely be the first pads to test the zone and assess if mineralization plunges, and therefore has greater preservation potential, to the southeast. Chargeability is low to moderate, as might be expected in deeper parts of the system where the phyllic alteration may transition to potassic. Four potential pad locations have been selected to test the Grade Creek Zone, including FS 11, 12, 13 and 03. Grade Creek has the best silver-lead-zinc and copper-molybdenum soil and rock chip anomaly on the Property. It also has high chargeability, suggesting a northeastern extension of the pyrite-rich phyllic zone. However, the hypogene enrichment tends to occur in the upper portion of the phyllic zone where high chargeability is the target. The Company is in the early stages of moving forward with an Environmental Assessment on the Property, to secure longer-term drilling on USFS lands once the CatEx expires. New targets on the USFS will initially be tested with core drilling to attain important geological information and guide further follow-up drilling of these new zones. RC drilling, scheduled to begin in mid-September, will supplement drilling of existing zones that the Company has been core drilling since 2023. Management Commentary Chris Paul, CEO and Director of the Company, commented, “We’re excited to advance our exploration efforts with the newly secured CatEx permit, unlocking new targets to the east and northeast. We appreciate the diligence and support of the USFS in this process. Drilling in the west has revealed a large blanket of phyllic alteration. Recent mapping however suggests that the Triassic geology, and porphyry intrusions, may be tilted and partially eroded to the northwest, consistent with similar observations made by Scout Discoveries Corp. on their adjacent Cuddy Mountain property1. We look forward to testing downplunge of this theoretical tilt, within the Eastern Block. 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.” |
Posted at 31/7/2024 22:36 by stu31 Hercules Metals Provides Exploration UpdateToronto, Ontario / July 31, 2024 – Hercules Metals Corp. (“Hercules Metals” or the “Company” Highlights A total of 4,600m have been drilled in 6 completed, 3 abandoned and 3 in progress drill holes ranging up to 722m in depth (Figure 1). A potential trend of elevated hypogene copper-silver enrichment appears to be emerging, currently being tested in two directions: Two drill rigs stepping to the northeast and southwest from the 2023 discovery area to test the potential trend of elevated copper-silver, immediately below the Triassic-Jurassic unconformity. A third drill rig is reconnaissance drilling compelling new targets across the property. A large fault zone, referred to as the "BN Fault," had impacted drilling progress in holes HER-24-01, -05, -06, -07, -09, and -09b. However, the inferred geometry of the BN Fault has now been mapped in 3D, which enables future drill holes to focus on areas with more favourable ground conditions away from the fault. The Company is planning to enhance productivity by adding a deep RC drill rig with an effective depth capacity of ~1,200m. Roads are being widened to allow access for a larger rig which has indicated availability in early September. New mapping, shown on Figure 1, has enhanced the understanding of structural patterns and alteration zonation across the project. Triassic exposure in the east shows alteration increasing from propylitic to phyllic towards the northwest. Specular hematite, associated with the hypogene copper-silver enrichment, dips shallow beneath the unconformity (conglomerate). Management Commentary Chris Paul, CEO and Director of the Company, noted, “Having drilled over 1 kilometer of strike along the Leviathan Porphyry this year has given us a much better understanding of certain key structural controls, which better guides our targeting of hypogene enrichment. Blind drilling has its logistical challenges, but new information is gained from each hole, which allows us to increase efficiency moving forward. Drilling is now vectoring toward the potential feeder structures for the hypogene enrichment event, which added copper and silver to the shallowest part of the system, beneath the unconformity. At the same time, we are actively working to increase productivity by avoiding damaged fault zones and securing a deep RC drill rig to supplement the program with pre-collars for the core rigs as well as select RC-only drill holes. Although the timing of the first assays is delayed due to slower than anticipated drilling and processing time, this has allowed us time to build a preliminary 3D model aimed at targeting hypogene enrichment.” Geological Update Drilling continues to encounter porphyry alteration and mineralization over large areas. Emphasis has been placed on key structures which may have controlled both porphyry emplacement as well as later hypogene enrichment. One of these structures, the BN Fault, appears to have been later re-activated in the Jurassic, creating challenging ground conditions for drilling. A preliminary model of the BN Fault was recently developed, to avoid drilling within its proximity. Instead, drilling is stepping out along a separate NE-SW structure, which appears to control mineralization, with apparent minimal post-mineral damage. A third drill rig is testing reconnaissance targets with favourable geophysical signatures that have not had previous drilling. Many targets remain to be tested across what appears to be a large and long-lived hydrothermal system. A major regional-scale structure, “Tom’s Fault”, shown on Figure 2, trends NW-SE across the Property, and appears to be a potentially important regional control on porphyry emplacement. The intersection of regional scale NW-SE structures with NE-SW structures may play an important role on future exploration targeting. 2024 drill holes are shown on Figures 1 and 2. Drill holes HER-24-08, -11, and -12 are stepping out to the northeast along the inferred structural control mentioned above. Drill holes HER-24-09 and -09b were testing the same concept to the southwest, however both had to be terminated due to challenging ground conditions associated with the BN Fault. HER-24-06 also had to be terminated early due to the BN Fault, albeit in mineralization at 640 meters. The aim is to properly re-test this entire length of the chargeability anomaly to depth once the deep RC rig arrives. HER-24-10 is currently testing a new chargeability anomaly to the west of the main Leviathan target. The hole is currently at 350 meters and has encountered a different Jurassic cover sequence than the other holes. The scientific and technical information in this news release has been reviewed and approved for disclosure by Christopher Longton BS, CPG, Hercules’ Vice President, Exploration. Mr. Longton is a "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Corporate Update The Company also announces that it has granted 500,000 incentive stock options (the "Options") to a contractor, with an effective date of July 30, 2024, with 250,000 vesting on the grant date, 125,000 vesting on the date that is six months following the grant date and 125,000 vesting on the date that is twelve months following the grant date. The Options are exercisable for a period of 5 years and have an exercise price of $0.62 per common share. The Options were granted pursuant to the Company's omnibus incentive plan approved by shareholders. About Hercules Metals Corp. Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FWB: 8Q7) is an exploration Company focused on developing Idaho’s newest copper and silver district. The 100% owned Hercules Project located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important discoveries in the region to date. The Company is well positioned for growth through continued drilling, supported by extensive historical and current exploration and a strategic investment by Barrick Gold. With the potential for significant scale, the Company’s management and board of directors aims to build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide. |
Posted at 28/4/2024 10:18 by hedgehog 100 From January 2024, from the website of Newmark Security (NWT):-"Security trends to watch in 2024 ... Data reporting Access control goes beyond allowing or denying entry; it’s about making informed decisions. The spotlight on data reporting in access control systems is pivotal. This involves collecting and analysing data on entry and exit patterns, user behaviours, and system activities. This data-driven approach empowers enterprises to gain insights into potential vulnerabilities, adapt to changing threats, and address security gaps. For example, an unusual spike in access attempts during non-business hours could indicate a security threat that requires immediate attention. This trend aligns with the broader growth of big data analytics, illustrating the increasing need for solutions that go beyond securing doors to providing operational insights. ... IoT integration The Internet of Things (IoT) has transformed access control, introducing intelligence and adaptability. In 2024, connected devices will continue to gain popularity, contributing to dynamic access management systems that stay one step ahead of security challenges. IoT integration in access control extends beyond traditional vital cards and PIN codes. Smart devices, such as biometric scanners and mobile access applications, communicate with access control systems to provide secure and convenient entry. This interconnected ecosystem enhances security and user experience, creating a more seamless and flexible access control environment. ..." And from January 2023, from the website of Grosvenor Technology, NWT's Human Capital Management (HCM) and access control subsidiary:- "Key security industry trends in 2023 ... 1. Artificial intelligence will continue to lead the way According to recent figures, AI in the security market was valued at US$5.08 billion in 2020 and is expected to reach US$14.18 billion by 2026. Indeed, for several years running, artificial intelligence (AI) has been the predominant trend as companies continue to leverage its advanced capabilities for functions such as facial recognition, video surveillance, audio analytics, and more. More recently, we have seen a shift towards AI being used as a preventative rather than a reactive measure, meaning that security teams can stop incidents taking place in the first place thanks to things like predictive analytics and machine learning. 2. Cloud-based services will become more essential The COVID-19 pandemic accelerated the move towards cloud-based security and monitoring. According to a recent report by Calipsa, 75% of businesses surveyed said that they are now using cloud-based video analytics for security purposes, an increase of 8% when compared with 2020. Cloud technology enables organizations to become more agile in their approach to security, putting them in a better position to respond to emerging challenges and scale their approach with organizational growth. It’s also far more adaptable than legacy security solutions. For example, cloud-based identity management technology can be integrated with the latest developments in biometric access control in real-time to enable faster and more secure authentication. ... 5. More of a focus on privacy protection The COVID-19 pandemic had huge implications for privacy, and the use of tracking technology and other data-driven tools by governments worldwide has led to consumers being understandably more concerned about it. Given that the number one goal of any physical security solution is to protect your people and assets, you shouldn’t underestimate the role your organization now plays in building public trust. The heightened sensitivities of the public around privacy means that the physical security industry is now having to do more to address it and find appropriate solutions. For organizations that see this as an opportunity rather than a challenge, privacy could prove to be the driving force behind forward-thinking strategies, such as privacy-first system design, and become a catalyst for further growth. ..." Newmark Security's products and services in general, as well as protecting, also promote overall efficiency and productivity:- "But we don’t just stop at security. We understand that every business seeks to create an environment in which it can operate more efficiently and with greater levels of productivity. That’s why we strive to provide our clients with smart, safe, and secure workspaces that not only protect their people and assets, but also promote efficiency and productivity." Including from the advanced data insights provided by its access control (see above) and HCM (human capital management) systems:- "The enhanced reporting and analytics that our HCM devices provide allow an organisation deeper insight into the aspects of their business that support strategic growth." |
Posted at 26/2/2024 11:27 by sheareralanco BIG TECHNOLOGIES – BETTING ON ILLEGAL IMMIGRATIONhxxps://www.underval |
Posted at 29/1/2024 06:30 by saj3 Lawsuit against big technologies founder in the times today |
Posted at 22/1/2024 19:21 by stu31 Hercules Silver Drills 100 Meters of 0.76% Cu, 113 ppm Mo, Within 461 Meters of 0.4% Cu, 74 ppm MoPosted on January 22, 2024 Hercules Silver Corp. (“Hercules Silver” or the “Company” Assay results have now been received for HER-23-26 and confirm that grade increases west from drill holes HER-23-11 to HER-23-21 to HER-23-26, and from HER-23-08 to HER-23-05. Drill logs also demonstrate an increasing ratio of chalcopyrite to pyrite, a decrease in marginal phyllic alteration, and an increase in proximal potassic (biotite-magnetite) alteration in HER-23-26. Copper grades also increase toward the north from HER-23-26 to HER-23-05 and planning is now underway to execute a 20,000-meter drill program aimed at vectoring into the core of the system. A new 2023 IP survey suggests the potential for significant expansion along a multi-kilometer trend beneath the Hercules Rhyolite, with no indication of considerable fault breaks in the system. The Leviathan Porphyry remains open for expansion in multiple directions and thus far has only been tested within the 2022 IP survey area. Barrick Gold Corporation (“Barrick̶ Drilling within an initial 500m x 450m area demonstrates increasing grades to the north and west. HER-23-26, the latest hole drilled into the Leviathan Porphyry intersected 100 meters of 0.76% Cu, 113 ppm Mo, within 461 meters of 0.4% Cu, 74 ppm Mo. New assay data and deep penetrating 3D IP suggest the potential early porphyry center may underlie the entire mapped exposure of Hercules Rhyolite. IP data shows an arcuate-shaped chargeability target that closely follows the trend of the Hercules Rhyolite and roots into a vertical anomaly with coincident high conductivity (low resistivity) which may represent a potential early porphyry feeder intrusion. With the aid of Barrick’s senior technical expertise, the Company is planning a 20,000-meter drill program to expand on its 2023 discovery. Chris Paul, CEO and Director of the Company, noted: “The 2023 drilling season has been a massive success for the Company where testing of a large epithermal silver system at depth resulted in one of the most significant porphyry copper discoveries in the Western US in recent years. The first phase of blind drilling has now tested the copper porphyry system over a 500m x 450m area, with grades increasing to the north and west. Assays also remain pending for drilling within the shallow epithermal portion of the system which contributes to the potential future economics of the Property and provides investors with additional exposure to silver. We are excited to be working with our new largest shareholder, Barrick, and their senior technical team, on the planning and execution of our upcoming 20,000-meter drill program. The ambitious program will systematically step out to the north and west of the 2023 drilling and test several kilometers of a new chargeability/conduc Further Update on 2023 Deep Penetrating 3D IP Survey by Dias Geophysical The new large-scale IP survey carried out in late 2023 by Dias Geophysical Corporation reveals the presence of a much larger system in the lower plate than was previously recognized. Additional processing is underway to incorporate the 2022 high-resolution near surface data, which correlates well with the bornite-rich upper portion of the porphyry, with the new deep penetrating data, to generate a more robust inversion model over the entire Property. The new deep penetrating data shows an arcuate-shaped chargeability target which closely follows the trend of the Hercules Rhyolite in plan and roots into a vertical anomaly with coincident high conductivity (low resistivity) that may represent a potential early porphyry feeder intrusion. |
Posted at 22/1/2024 19:14 by stu31 Hercules Silver Announces Closing of Strategic Investment by Barrick Gold CorporationPosted on November 7, 2023 Hercules Silver Corp. (“Hercules Silver” or the “Company” Each Unit consisted of one common share of Hercules (each, a “Hercules Share”) and 0.32 of a common share purchase warrant (each whole warrant, a “Warrant” With the closing of the Placement, Barrick now owns 12.33% of the issued and outstanding Hercules Shares on a non-diluted post-transaction basis and 15.02% of the outstanding Hercules Shares on a partially-diluted post-transaction basis, assuming exercise of all Warrants. The proceeds from the Placement will be used by Hercules Silver to explore the Company’s Hercules Project located in western Idaho. All securities issued in connection with the Placement are subject to a four-month-and-one-d In connection with the Placement, Hercules Silver and Barrick also entered into an investor rights agreement, whereby, among other things, Barrick was granted certain participation rights, top-up rights, information rights and rights of first refusal, all as more particularly described in the Company’s news release dated November 6, 2023. Advisors Gowling WLG (Canada) LLP acted as Canadian legal counsel to Hercules Silver and Davies Ward Phillips & Vineberg LLP acted as Canadian legal counsel to Barrick. About Hercules Silver Corp. Hercules Silver Corp. is a junior mining company focused on the exploration and development of the 100% owned Hercules Silver Project, northwest of Cambridge, Idaho. The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling across 3.5 kilometers of strike. The additional discovery of a new porphyry copper system at depth in 2023 adds significant upside potential to the Property. The Company is well positioned for growth through the drill bit, having completed extensive surface exploration consisting of soil & rock sampling, geological mapping, IP geophysics. The Company’s management team brings significant exploration experience through the discovery and development of numerous precious metals projects worldwide. |
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