Unveiling a Promising Copper Porphyry Discovery at Hercules Property in Idaho

Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: 8Q7), a junior mining company, is pleased to announce the significant discovery of a blind copper porphyry system at its Hercules Property in western Idaho. This groundbreaking find opens up new possibilities for exploration in the state of Idaho and presents an exciting opportunity for further porphyry exploration in a tier 1 jurisdiction.

A Major Copper Porphyry Discovery

The exploration efforts at Hercules Property have led to the discovery of a major copper porphyry system, confirming the presence of a substantial mineralized zone. The first deep drill hole, HER-23-05, targeted a large-scale blind chargeability anomaly and intersected 185.29 meters of 0.84% copper (Cu) and 111 parts per million (ppm) of molybdenum (Mo) from 246 to 431.2 meters. Notably, this interval included a higher-grade section of 45.33 meters with 1.94% Cu. The hole encountered drilling challenges and ended prematurely due to a post-mineral dyke, but subsequent observations suggest that the mineralization extends considerably deeper, potentially beyond 435 meters.

The newly discovered blind copper porphyry system is located below rhyolite-hosted silver mineralization, which had been defined by over 300 historical drill holes. The porphyry system is completely blind and remains open in all directions from the discovery hole, HER-23-05. Additional step-out holes drilled in various orientations southeast of HER-23-05 have encountered similar alteration, veining, and copper mineralization over variable lengths. Many directions are yet to be explored, and the search for the potassic center, which often holds the highest grades within porphyry systems, is ongoing. Assay results for the step-out holes will be released as they become available.

Geological Significance and Potential District

The Hercules Copper Belt, where the Hercules Property is located, exhibits Triassic-Jurassic island arc geology similar to British Columbia's Golden Triangle, renowned for its large porphyry copper systems. This geological similarity suggests the potential for significant mineral deposits in the Hercules Copper Belt. The discovery of the Hercules porphyry copper system in Idaho bridges the gap between British Columbia and Nevada, creating an entirely new district for porphyry exploration in a highly favorable jurisdiction.

The Hercules Copper Belt offers year-round accessibility, excellent infrastructure, and a supportive pro-mining state government, making it an attractive destination for mining activities. The presence of a major porphyry copper system adds further value and potential to the Hercules Property, positioning it as a key player in the exploration and development of precious metals projects.

Extending the Chargeability Anomaly

To gain a comprehensive understanding of the porphyry system and guide future drilling, a follow-up three-dimensional induced polarization (3D IP) survey is currently underway. This survey aims to expand the chargeability anomaly in all directions and provide valuable insights into the extent and trends of the mineralization at Hercules Property. The expanded survey area will cover approximately 4.2 kilometers by 3.6 kilometers, allowing for deeper data and a more accurate delineation of the anomaly.

The results from the 2023 3D IP survey are expected to refine and extend the chargeability anomaly identified in the 2022 survey. The additional data will help track the porphyry system and guide the exploration team in selecting optimal locations for further drilling. By leveraging advanced geophysical techniques, Hercules Silver Corp. is maximizing its chances of uncovering the full potential of the newly discovered copper porphyry system.

Geological Description of HER-23-05

HER-23-05, the first drill hole to test the blind chargeability anomaly, encountered a compelling sequence of geologic features. At around 197 meters depth, the drill hole intersected a strongly hematized "red conglomerate" unit, interpreted as the base of the Jurassic volcanics. This conglomerate likely represents an ancient erosional surface on which the silver system was subsequently thrust over. Below the conglomerate, the drill hole encountered strongly silicified andesite and quartz porphyry intrusions with abundant quartz-hematite veining.

The transition from the silicified zone to the mineralized zone was marked by the beginning of molybdenum mineralization, followed by strong bornite-chalcopyrite mineralization at 246 meters. The enrichment zone, characterized by high-grade copper mineralization, extended over a drilled length of 45 meters. Below the enrichment zone, the mineralization transitioned to a typical pyrite-chalcopyrite (phyllic) assemblage, which continued to the bottom of the hole. The drill hole ended prematurely due to drilling challenges encountered at a post-mineral dyke.

Next Steps and Potential Extensions

The discovery of the blind copper porphyry system at Hercules Property marks a significant milestone for Hercules Silver Corp. The presence of porphyry-style alteration, veining, and mineralization in HER-23-05 and subsequent step-out holes highlights the extensive nature of the mineralized system. The exploration team will continue to test different directions and search for the potassic center, which often carries the highest grades within porphyry systems.

Assay results for additional step-out drill holes are pending and will provide further insights into the continuity and potential extensions of the mineralization. The ongoing 3D IP survey will help establish the limits of the porphyry system and guide future drilling efforts. Hercules Silver Corp. remains committed to unlocking the full potential of the Hercules Property and solidifying its position as a leading player in the exploration and development of precious metals projects.

Sample Analysis and Quality Assurance

All drill core samples from Hercules Property were prepared and analyzed at MSA Labs, an ISO 17025 and ISO 9001 certified laboratory located in Langley, British Columbia. The samples underwent a rigorous preparation process, including drying, crushing, and pulverization. Assays were determined using the IMS-230 method, which involved digesting a 0.25g aliquot of the prepared pulp in a 4-acid solution. The resulting solution was analyzed for 48 elements using ICP-MS and ICP-ES techniques.

Quality control measures were implemented throughout the sample analysis process. MSA Labs employed internal quality control standards, duplicates, and blank samples at regular intervals. Additionally, blind certified reference materials (CRMs) and blank samples provided by Hercules Silver Corp. were inserted into the sample stream to ensure accurate and reliable results.

Conclusion

The discovery of a blind copper porphyry system at Hercules Property in western Idaho represents a significant breakthrough in the exploration of precious metals. The high-grade copper mineralization encountered in the first deep drill hole, HER-23-05, along with subsequent step-out holes, indicates the presence of a large and extensive mineralized system. The potential for further extensions and the search for the potassic core underscore the importance of continued exploration in the Hercules Copper Belt.

Hercules Silver Corp. is poised to leverage its technical expertise and strong geological understanding to unlock the full potential of the newly discovered copper porphyry system. With ongoing 3D IP surveying and pending assay results from additional drill holes, the company remains committed to advancing its exploration efforts and establishing itself as a leading player in the mining industry.

‍

‍