Hercules Silver drills 0.84% copper over 185 metres at Hercules project, Idaho

Hercules Silver Corp. [TSXV-BIG; OTCQB-BADEF; FSEW-8Q7] has confirmed a major new copper porphyry discovery at its Hercules property located in western Idaho.

HER-23-05, the first hole to test a large-scale (>1.8km) blind chargeability anomaly, intersected 185.29 metres of 0.84% copper and 111 ppm molybdenum from 246 metres to 431.2 metres, including 45.33 metres of 1.94% copper. The hole ended prematurely due to drilling challenges encountered at a post-mineral dyke, however observations in subsequent holes indicate that the mineralization likely extends significantly below HER-23-05 at 435 metres.

The newly discovered porphyry system is situated below rhyolite-hosted silver mineralization defined by over 300 historical drill holes. The system is therefore completely blind and open in all directions from HER-23-05. A follow-up 3D IP survey is currently underway to expand the chargeability anomaly in all directions and help track the system with further drilling.

Additional step-out holes drilled at various orientations to the southeast of HER-23-05, where chargeability data is currently available, have intersected similar alteration, veining and copper mineralization over variable lengths. Many directions remain to be tested, and the potassic center, which often carries the highest grades within porphyry systems, remains to be found. Assay results will be released for step-out holes as they are received. Core photographs for the intercept reported in this release have been posted to the Company’s website.

Blind copper porphyry discovered in first deep drill hole grading 0.84% Cu, 111 ppm Mo, 2.6 g/t Ag over 185 metres, including 45 metres of 1.94% Cu.

Hole ended prematurely in mineralization due to drilling challenges. Step-out drilling indicates system extends considerably deeper. Mineralization open in all directions from discovery hole. Additional 3D IP geophysics underway to establish limits of the system and guide further drilling. Assays pending for additional step-out drill holes.

Chris Paul, CEO and Director, noted: “We are incredibly pleased with the grades returned from our first blind drill hole into this new discovery. It has significantly exceeded our expectations, considering phyllic alteration typically occurs outside of the grade shell in porphyry copper systems. The strength of the alteration, veining and mineralization in HER-23-05 and subsequent step-out holes however is demonstrating the presence of a very large system which remains open in all directions.

“HER-23-05 also represents the first significant porphyry copper system discovered in the state of Idaho, which breaks the discovery gap between BC and Nevada, presenting an entirely new district for porphyry exploration in a tier 1 jurisdiction.

“The Triassic-Jurassic island arc geology of the Hercules Copper Belt is reminiscent of British Columbia’s famous Golden Triangle, where some of the world’s largest porphyry copper systems have been discovered. The Hercules Copper Belt, however, is accessible year-round, with excellent infrastructure and a supportive, pro mining state government.”

Surveying is currently underway, to expand the 2022 survey, which measures approximately 2,200m by 650m, to a significantly larger area of approximately 4.2 km by 3.6 km. It is anticipated that the 2023 survey will better define and likely extend the 2022 chargeability anomaly, indicate the trend of the system, and provide up to 3x deeper data.

Hercules Silver Corp. is 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 km 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 and rock sampling, geological mapping, IP geophysics.