Increasing Copper Grades West Of The New Leviathan Discovery

Increasing Copper Grades West Of The New Leviathan Discovery

TORONTO – Hercules Silver Corp. reported on drill hole HER-23-26 and confirmed increasing copper grades to the west from recently reported holes drilled into the new Leviathan porphyry copper discovery at its Hercules project located in western Idaho. These results present a compelling vector toward the high-grade core of the porphyry system.

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 (has seconded three geologists to the Company and provided access to their senior technical team to help interpret the 2023 data and plan a large 20,000 meter follow-up drill program.

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.