202415 releases
Hercules Metals exploration making headway
Drill resultsTown Hall Meeting with Hercules
CorporateHercules Silver Commences Phase III Drill Program
Three core rigs are drilling the first three holes of a 20,000m Phase III program at the wholly-owned Hercules Silver Property in western Idaho, with coring on HER-24-01 and HER-24-02 having begun April 22. Drilling will step out on 200m centers along NW-SE fences west, northwest and north of HER-23-05, which returned 185.29m of 0.84% Cu and 111 ppm Mo from 246m, including 45.33m of 1.94% Cu, and will test Belmont, Grade Creek and Big Cut Skarn anomalies. Samples go to MSA Labs in Langley, British Columbia.
Drill resultsHercules Silver Appoints Charlie Greig as Strategic Technical Advisor
Charles Greig, MSc, P.Geo has been appointed Strategic Technical Advisor to Hercules Silver Corp. Greig is known for his role in the discovery of GT Gold Corp's Saddle North porphyry, acquired by Newmont Corporation in 2021, which earned him PDAC's Bill Dennis Award in 2022. Greig and his Penticton, B.C.-based firm, C.J. Greig & Associates Ltd., are working with the Company's technical team on the 2024 exploration program at the Hercules Project in western Idaho.
ManagementHercules Silver Showcases 2023 Deep-Seeking Geophysics in Advance of 2024 Drilling
Results of a 2023 property-wide deep-seeking 3D induced polarization, resistivity and drone magnetic survey at the Hercules Property in western Idaho identified multiple targets, including a conductivity anomaly (<30 ohm-m core) below the historical Belmont Zone, kilometres of chargeability from Belmont to Grade Creek, a shallow chargeability anomaly at the Big Cut skarn, and two deep magnetic highs. Preparations are underway for the 2024 drill program. The Company also granted 1,916,000 restricted share units to certain officers and directors.
Drill resultsHercules Silver Announces Engagement of Momentum Investor Relations
Toronto-based Momentum IR Corp., led by Nisha Hasan, has been engaged by Hercules Silver to provide investor relations and advisory services for an initial twelve-month term. Compensation is a monthly fee of $10,000 plus 200,000 options exercisable for five years at CAD$0.83, vesting in four equal tranches over twenty-four months. The engagement is subject to TSX Venture Exchange approval. Hercules owns 100% of the Hercules Silver Project northwest of Cambridge, Idaho, and plans a 2024 drilling campaign.
CorporateHercules Silver Reports Broad Intervals of Silver Including 112.2 Meters of 193 g/t Ag, 0.2% Pb, 0.4% Zn at the Hercules Adit and Belmont Zones,
Shallow drilling into the Upper Plate above the Leviathan porphyry copper discovery at the Hercules Silver Property in western Idaho returned 112.2 metres of 193 g/t Ag, 0.2% Pb, 0.4% Zn in HER-23-17, including 11.3 metres of 1,660 g/t Ag, 0.7% Pb, 1.75% Zn. HER-23-19 cut 15.3 metres of 359 g/t Ag, HER-23-13 100.1 metres of 64 g/t Ag, and HER-23-22 58.8 metres of 140 g/t Ag. Planning for a 2024 drill campaign with three core rigs is underway.
Drill resultsHercules Silver Announces Additions to Geological Team
Several geological consultants and porphyry copper specialists have been added to Hercules Silver's technical team, including three geologists seconded from Barrick Gold Corporation, to support vectoring toward the high-grade core of the Leviathan Porphyry discovery at the 100%-owned Hercules Silver Project near Cambridge, Idaho, ahead of a 2024 drill campaign using multiple deep drill rigs. The Company also granted an aggregate of 600,000 restricted share units to certain consultants, vesting in equal installments over twenty-four months.
ManagementHercules Silver Drills 100 Meters of 0.76% Cu, 113 ppm Mo, Within 461 Meters of 0.4% Cu, 74 ppm Mo
Drill hole HER-23-26 at the Leviathan porphyry copper discovery on the Hercules project in western Idaho returned 460.76 metres of 0.4% Cu, 74 ppm Mo and 1 g/t Ag from 338.85 metres, including 100.06 metres of 0.76% Cu, 113 ppm Mo and 1.7 g/t Ag. Grades increase to the west and north across the 500m x 450m area drilled to date. A 20,000-metre drill program is being planned with three geologists seconded from Barrick Gold, now the company's largest shareholder.
Drill resultsHercules Silver Drills 161 Meters of 0.45% Cu, 148 ppm Mo,4.4 g/t Ag, including 79 Meters of 0.53% Cu, 7.3 g/t Ag in 450 Meter Step-out
Step-out drilling at the Leviathan porphyry copper discovery at the Hercules project in western Idaho returned 161.12 m of 0.45% Cu, 4.4 g/t Ag and 148 ppm Mo in HER-23-21, including 79.25 m of 0.53% Cu and 7.3 g/t Ag; HER-23-08 returned 437.5 m of 0.32% Cu and HER-23-11 returned 182.94 m of 0.3% Cu and 25 g/t Ag. Assays are pending for the rest of HER-23-21 and for HER-23-26. A 2023 deep-penetrating 3D IP survey outlined a 4 km long anomaly, and 570 additional lode claims were staked to the north.
Drill results
202320 releases
Hercules Silver Announces Closing of Strategic Investment by Barrick Gold Corporation
A non-brokered private placement closed with Barrick Gold subscribing for 21,265,370 units at C$1.10 per unit for gross proceeds of C$23,391,907. Each unit comprised one common share and 0.32 of a warrant exercisable at C$1.32 for two years, leaving Barrick with 12.33% of shares outstanding non-diluted and 15.02% partially diluted. Proceeds will fund exploration at the Hercules Project in western Idaho; securities are subject to a hold period expiring March 8, 2024.
FinancingBarrick Gold Invests in Hercules Silver
Barrick Gold has agreed to buy 21,265,370 units of Hercules Silver at C$1.10 per unit in a non-brokered private placement for gross proceeds of C$23,391,907, with each unit including one share and 0.32 of a two-year warrant exercisable at C$1.32. Barrick will hold 12.33% of shares non-diluted and 15.02% partially diluted, and receives participation, top-up, right of first refusal and information rights under an investor rights agreement, plus a three-year standstill at 19.9%. Proceeds will fund exploration at the Hercules property in western Idaho, with closing on or before November 8, 2023.
FinancingHercules Silver Intercepts 42 meters of 139 g/t Ag and 25 meters of 195 g/t Ag with Cu, Zn, Mn and Sb Critical Metals Above Porphyry Copper System at Hercules
Shallow drilling above the porphyry copper discovery at the Hercules Silver Property in western Idaho returned 25.14 m of 195.2 g/t Ag, 0.33% Zn and 5.9% Mn in HER-23-06, and 41.85 m of 138.7 g/t Ag, 0.48% Zn and 3.3% Mn in HER-23-07, with whole-hole grades of 96.3 g/t Ag over 58.83 m and 80.8 g/t Ag over 105.46 m. Surface channel samples graded up to 500 g/t Ag. Final 3D IP inversions are expected around Christmas. An amended lease option agreement for the Mineral Property sets a Cdn$0.23 minimum deemed share price.
Drill resultsHercules Silver Intersects 185 Meters of 0.84% Cu, 111 ppm Mo and 2.6 g/t Ag, including 45 Meters of 1.94% Cu in First Deep Hole Drilled at Hercules
Hole HER-23-05, the first deep hole testing a more than 1.8 km blind chargeability anomaly at the Hercules Property in western Idaho, intersected 185.29 m of 0.84% Cu, 111 ppm Mo and 2.6 g/t Ag from 246 m to 431.29 m, including 45.33 m of 1.94% Cu. The hole ended prematurely at 435.32 m at a post-mineral dyke. A 3D IP survey is underway to expand coverage from roughly 2,200 m by 650 m to about 4.2 km by 3.6 km, and assays for step-out holes are pending.
Drill resultsHercules Silver Enters into Lease Option Agreement for Copper-Gold Porphyry Target in Hercules Mining District
A lease option agreement dated September 27, 2023 with prospector Merrill Palmer gives Hercules Silver the right to acquire 100% of the Mineral property, 87 unpatented lode mining claims on BLM land 14 miles southwest of its Hercules project in Washington County, Idaho. Lease payments run from US$100,000 on TSXV approval to annual cash and share instalments through September 27, 2030, with a purchase option before the eighth anniversary for US$3 million in cash and shares. Historical hole MDD-2 assayed 266 m of 0.17% Cu from 5 m depth.
AcquisitionHercules Silver Intercepts 27.3 Meters of 113 g/t Silver Equivalent Above Porphyry Copper Mineralization in First Holes of Phase II Drill Program
The first 5 holes of a 6,000-metre Phase II drill program at the Hercules Silver Property in western Idaho returned 84.2 m of 54.1 g/t AgEq from 4.5 m in HER-23-05, including 27.3 m at 113.4 g/t AgEq from 36.7 m, and 28.5 m of 102.6 g/t AgEq from 39 m in HER-23-04, including 2.7 m at 416.2 g/t AgEq. HER-23-05 also intercepted blind porphyry copper alteration and mineralization, with assays pending. Four deep holes across 1.2 km of a chargeability anomaly all intersected pyrite-rich phyllic alteration; a third drill rig has been added.
Drill resultsHercules Adds Second Drill Rig to Phase II Drill Program
Seven holes (HER-23-01 to HER-23-07) have been completed in the Frogpond Zone at the Hercules Property in western Idaho, with silver mineralization observed in all holes and assays pending. HER-23-05 was extended to 435 meters and intersected phyllic alteration, veining and mineralization consistent with the outer margins of a porphyry copper system at the top of a chargeability anomaly spanning about 1.8 kilometers north-south. A second rig has been added, with HER-23-08 in progress 185 meters northeast of HER-23-05.
Drill resultsHercules Silver Commences 6,000 Meter Phase II Drill Program
Core drilling has begun on the first hole of a 6,000 meter Phase II program at the wholly-owned Hercules Silver Property in western Idaho, contracted to Timberline Drilling of Hayden, Idaho using an Atlas Copco CS-14 rig. The plan totals 6,155 meters across the Hercules Adit, Frogpond, Hinge, Haystack, Metheny, Belmont and Lightning zones, with holes up to 550 meters testing silver-lead-zinc extensions, a porphyry copper-silver-gold target and a deep chargeability anomaly. Antoine Soucy-Fradette has resigned as VP Exploration, effective immediately.
Drill resultsHercules Silver Appoints Mr. Christopher Longton as VP Exploration
Christopher Longton, CPG, has been appointed Vice President of Exploration of Hercules Silver Corp., managing the 100%-owned Hercules Silver Project near Cambridge, Idaho; he was previously Senior Exploration Manager for Integra Resources' Delamar project. Longton received 1,250,000 incentive stock options effective May 22, 2023, vesting in four equal tranches over 24 months, exercisable for five years at $0.17 per share, with an additional 1,500,000 options granted to certain officers and advisors on the same terms. CFO Keith Li was appointed Corporate Secretary, replacing Darren Collins, who remains a director.
ManagementFinal Preparations Underway for Upsized Phase II Drill Program at Hercules
The Phase II drill program at the Hercules Property in western Idaho has been upsized to a minimum of 6,000 meters, with 6,155 meters planned across the Hercules Adit, Frogpond, Hinge, Haystack, Metheny, Belmont and Lightning zones, and is expected to start within the next two weeks. Timberline Drilling of Hayden, Idaho will use oriented core and triple tube barrels. Hercules received approximately $1.3M from option and warrant exercises, following a $5.75M private placement, and expects to remain financed for a Phase III program.
Drill resultsHercules Strengthens New Porphyry Copper/Skarn Target with Gold Grades up to 4.5 g/t and Uncovers New Silver Zone
Fire assay results for gold from previously reported rock chip samples at the Metheny, Big Cut and Lightning Breccia Zones on the Hercules Property in western Idaho returned high-grade skarn values up to 21% copper, 4.5 g/t gold and 1,085 g/t silver, supporting a buried porphyry copper target. Eight rock samples from a newly identified South Camp Creek Zone, where a historical adit was re-discovered, graded up to 283 g/t silver equivalent, extending the CRD system to at least 5.5 kilometres of strike. Further rock sampling and IP geophysics are planned.
Drill resultsHercules Silver Corp. Announces Closing of $5.75 Million Brokered Private Placement
A brokered private placement closed for aggregate gross proceeds of $5,750,000, including full exercise of the agents' option, with 28,750,000 units issued at $0.20 per unit. Each unit includes one common share and one-half warrant exercisable at $0.30 for 24 months. Canaccord Genuity Corp. led the syndicate with Research Capital Corporation and 3L Capital Inc. Proceeds will fund exploration, working capital and general corporate purposes; insiders bought 250,000 units. Closing remains subject to final TSX Venture Exchange approval.
FinancingHercules Silver Corp. Announces Brokered Private Placement of up to $5 Million
A fully marketed private placement of up to 25,000,000 units at C$0.20 per unit for gross proceeds of up to C$5,000,000 has been agreed with Canaccord Genuity Corp. as lead agent and bookrunner. Each unit includes one common share and one-half warrant exercisable at C$0.30 for 24 months, with an agents' option for up to 3,750,000 additional units for a further $750,000. Closing is expected on or about April 20, 2023, with proceeds for exploration and working capital.
FinancingHercules Silver Appoints Mr. Kelly Malcolm as Independent Director
Kelly Malcolm, a Professional Geologist and currently Vice President of Exploration for Amex Exploration Inc., has been appointed an Independent Director of Hercules Silver Corp., expanding the board to five members with a majority of independent directors. He was granted 750,000 incentive stock options and 750,000 restricted share units effective March 1, 2023, vesting in four equal tranches over 24 months, with the options exercisable for five years at $0.265 per common share.
ManagementHercules Silver Drills 38 Meters of 487 g/t Silver Equivalent in Maiden Drill Program
Phase I drill results from the Hercules Silver Property in western Idaho include HER-22-01, which cut 38.10 m grading 353 g/t Ag, 0.16% Cu, 0.64% Pb and 2.28% Zn (487 g/t AgEq) from 25.91 m, including 4.57 m at 791 g/t Ag, 0.18% Cu, 1.25% Pb and 4.06% Zn (1,021 g/t AgEq) from 28.96 m. HER-22-07 returned 44.20 m at 258 g/t AgEq from 1.52 m. Five of the nine reverse-circulation holes stopped short of target depth. A 3,000-metre Phase II core program is scheduled for spring 2023.
Drill resultsHercules Announces Discovery-Focused Phase II Drill Plan
A preliminary Phase II drill plan of up to 3,000 meters of core drilling is set to begin in spring 2023 at the Hercules silver-lead-zinc property in western Idaho, using triple tube core barrels to improve on historical recoveries that averaged about 50%. Targets include vertical structures and high-grade shoots in the Hercules Adit and Frogpond Zones, the Haystack and Belmont Zones, up to four holes over 1.5 kilometers of a high-strength chargeability anomaly, and one hole testing a hydrothermal breccia pipe. Phase I assays remain pending.
Drill resultsHercules Sample Results Delineate Large Mineral System, with up to 2,810 g/t Ag and 21% Cu in Untested Targets
Results from over 800 rock chip samples at the Hercules Property in western Idaho returned grades up to 21% copper (with 93 g/t silver) at the Big Cut Skarn and 2,810 g/t silver in the untested Grade Creek Zone, with silver up to 1,085 g/t at the Metheny Zone. The sampling outlined multiple silver-lead-zinc zones along approximately 3.5 kilometres of exposed Hercules Rhyolite plus two copper targets. Hercules is preparing a drill plan to permit and test Grade Creek.
Drill results
20226 releases
Hercules Silver Identifies Large Untested Chargeability Anomaly at Depth
A 3D induced polarization survey over the Hercules Adit, Frogpond and Belmont Zones at the Hercules Property in western Idaho identified a chargeability anomaly exceeding 25ms over a continuous 1.8-kilometre strike length, beginning at roughly 150 metres depth and lying below historical drilling. The anomaly is coincident with the untested base of the Hercules Rhyolite and remains open up-dip to the southeast toward a Seven Devils Group copper geochemical anomaly. The four-week survey was conducted by Dias Geophysical; drilling to test the target is planned for 2023.
Drill resultsHercules Silver Completes 2022 Drilling
Phase I drilling at the Hercules Property in western Idaho is complete, totalling 1,995 feet in nine RC drill holes testing the Frogpond and Hercules Adit Zones; all holes except HER-22-03 and HER-22-04 ended short of planned depth due to difficult ground, with several bottoming in mineralization. Assays are expected in early January, alongside results from over 900 outcrop samples and final 3D IP inversions. A Phase II program is planned for early spring 2023. Peak Investor Marketing was retained at C$12,000 per month plus 300,000 options at $0.09.
Drill resultsHercules Silver Commences Drilling
A track-mounted reverse circulation drill rig has been mobilized to the Hercules Property in western Idaho to test the Frogpond and Hercules Adit zones, with Midnight Sun Drilling of Whitehorse contracted. The Phase I program consists mainly of verification and infill holes on historical drilling plus step-outs, with no set meterage target, continuing until winter conditions slow drilling. Samples will be assayed for 51 elements including copper, lead and zinc; a Phase II program is anticipated in early spring.
Drill resultsHercules Silver Announces Management Appointment
Keith Li has been appointed Chief Financial Officer of Hercules Silver Corp., effective immediately. Li is a Chartered Professional Accountant with over 15 years of corporate accounting, finance and financial reporting experience. Darren Collins has resigned as CFO and will remain a director of the Company, which is focused on the Hercules Silver Project northwest of Cambridge, Idaho.
ManagementHercules Silver Completes Extensive Mapping and Sampling Program on Hercules; Announces Commencement of 3D IP
A bedrock mapping and sampling program has been completed at the 100%-owned Hercules Silver Project in Idaho, with assays pending for 793 outcrop samples, 83 chip samples and 69 mine dump samples, and 666 hand samples undergoing ASD Terraspec alteration analysis; results are expected by Q1 2023. A 3D IP survey by Dias Geophysical covering over 3.5 kilometres of strike length and capable of imaging to 600 metres depth is underway, with a drone magnetic survey planned. Drill planning is in final stages, the first drilling since 1988.
Drill resultsHercules Silver Corp Announces Board Change
Luis da Silva has stepped down as director and Chairman of the board of Hercules Silver Corp. (formerly Bald Eagle Gold Corp.) as part of the Company's drive to retain cash. The Company and da Silva have agreed to consider reengaging in the future as market conditions evolve. Hercules is finalizing plans for a maiden drill program at its Hercules Silver Project, northwest of Cambridge, Idaho, this year.
Management