Hercules Silver (TSXV:BIG) has announced that recent drilling at its Hercules Silver Property in western Idaho has encountered significant silver-lead-zinc mineralization in the shallow holes above the newly discovered Leviathan porphyry copper deposit.

The drilling indicates increasing silver grades toward the northwest, moving closer to the Hercules Adit Zone. This trend mirrors the increase in copper grades seen at deeper levels in the Leviathan porphyry system. The correlation between silver and copper suggests a potential relationship between the two mineralization styles, possibly representing different vertical levels within the porphyry system.

Chris Paul, CEO and Director of the Company, commented in a press release: “We’re encouraged to see another line of evidence for increasing grades to the northwest as we work closely with Barrick Gold Corporation’s senior technical team to plan our 2024 drill campaign. The program will be aimed at systematically stepping out on the Leviathan porphyry copper discovery as well as testing a multitude of new targets identified by our team. The objective is to have three diamond core rigs operational on site to complete a series of systematic step-outs from discovery hole HER-23-05, as well as several larger scale step-outs, and scout drilling of select reconnaissance targets. We look forward to sharing the details of the drill plan as we finalize specific targets in advance of the field season. We’d also like to thank Barrick for the tremendous technical support they’ve provided us with so far. I’m proud of our teams combined efforts and cooperation at interpreting the data and generating a robust 3D model for use towards the drill planning.”

In some porphyry deposits, late-stage silver mineralization can migrate upward along structures above the main porphyry centre. The flat-lying silver mineralization in the Hercules Rhyolite may have originated from a feeder structure connecting to a deeper porphyry source.

The most promising silver grades were intersected at the Hercules Adit Zone. Grades may continue to improve at depth, below the post-mineral Brownlee Formation. Significant silver and copper have been found at surface exposures farther north at the Hercules Ridge and Grade Creek zones. Historical mining in the early 1900s at the Belmont Zone also reported notable copper.

Hercules Silver plans to prioritize these northern zones for drilling in 2024, given the compelling surface mineralization and geophysical trends that point to porphyry potential at depth. The company is looking to further explore the relationship between silver mineralization in the shallow units and potential underlying porphyry copper sources.

Highlights from the results are as follows: 

• HER-23-17 extended the high-grade Hercules Adit footwall shoot down plunge, with 11.3 Meters of 1,660 g/t Ag, 0.7% Pb, 1.75% Zn, one of the best silver intercepts on the Property, within an overall 112.2 Meters of 193 g/t Ag, 0.2% Pb, 0.4% Zn.

• HER-23-19 intersected a potentially new mineralized shoot at the hanging wall contact of the Hercules Adit Zone, returning 15.3 Meters of 359 g/t Ag, 0.4% Pb, 0.4% Zn.

• HER-23-13 intersected 100.1 Meters of 64 g/t Ag, 0.14% Pb, 0.49% Zn including 6.1 Meters of 413 g/t Ag, 1.1% Pb, 1.7% Zn.

• HER-23-09 intersected 32.2 Meters of 167 g/t Ag, 0.17% Zn.

• HER-23-22 intersected 58.8 Meters of 140 g/t Ag, 0.43% Pb, 0.69% Zn including 13.7 Meters of 280 g/t Ag, 0.3% Pb, 0.8% Zn.

• HER-23-23 intersected 43.9 Meters of 138 g/t Ag, 0.37% Pb, 0.32% Zn including 1.5 Meters of 1,450 g/t Ag, 1.06% Pb, 0.17% Zn.

• The highest silver grades are concentrated at the Hercules Adit Zone, indicating a strengthening trend to the north, in alignment with the copper mineralization observed in the underlying porphyry copper system (Refer to the Company’s January 22, 2024 News Release).

• The Hercules Adit Zone continues to remain open down plunge, extending towards a potential porphyry copper target.

• Planning for the 2024 drill campaign is underway, with the program scheduled to commence when weather conditions permit. Additional details regarding the drill plan will be disclosed as targets are finalized.

Table 1: Significant Intercepts* at the Hercules Adit Zone

Table 2: Significant Intercepts* at the Belmont Zone

Table 3: Significant Intercepts* at the Frogpond Zone

*The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.

Table 4: Upper Plate Silver Intercepts* in Deep Porphyry Drill Holes

*The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.

Table 5: Reported Drill Hole Locations