Toronto, Ontario--(Newsfile Corp. - May 21, 2025) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) ("Hercules" or the "Company") is pleased to announce that its 2025 drilling campaign is now underway at the Hercules Project in western Idaho (the "Property"). Two core drilling rigs are currently operating, with mobilization of a 3rd core drilling rig underway.
The first two core rigs were mobilized to site by Dorado Drilling USA ("Dorado"). Certain border-related delays affected a planned earlier mobilization date. To regain momentum and keep the 2025 meterage target on track at a similar projected cost per meter, the Company has elected to add a third core rig from Scout Drilling LLC of Coeur D'Alene, Idaho ("Scout Drilling"). Scout Drilling successfully completed nine holes to target depth at the Property in 2023 and brings valuable familiarity with the project's logistics and local ground conditions.
The Company is also evaluating bids to potentially add a reverse circulation ("RC") rig to further accelerate progress by drilling pre-collars through the Jurassic cover sequence.
Highlights
- Three core rigs now on site to begin executing on the Company's fully funded 2025 drill program, targeting a minimum of 12,000 metres across multiple high-priority zones.
- Two Dorado drill rigs are actively operating, with mobilization of an additional rig from Scout Drilling underway.
- Initial planned holes are designed to test and potentially validate an important new 3D geological model of the recently discovered Leviathan porphyry system.
- Initial drill holes are oriented northwest, aiming to drill across the interpreted southeast dipping system, targeting the full mineralization profile, starting from the distal pyrite halo, through the copper-molybdenum shell, and into the central Leviathan porphyry intrusion, providing better understanding of the true-widths of the main components of the system.
- If successful, drilling will shift to expanding the known limits of the Leviathan system, first by filling gaps left by previous subparallel (southeast-oriented) drilling, followed by step-out drilling to the northeast and southwest to test for continuity along strike.
- Chargeability shows a strong correlation with the newly modelled mineralization, which to date has been tested along only 1.6 km of the anomaly's total 4 km strike length.
- Drilling in the northeast extension will target increasing thicknesses of hypogene enrichment, interpreted to have undergone rotation to the northeast toward the Grade Creek Zone.
- Drilling in the southwest extension will target increasingly favourable limestone and iron-rich host rock stratigraphy, along modelled intersections with porphyry intrusions.
Drilling will also test for additional porphyry centers within two untested zones on the Property:
Eastern Block - Building on near surface results in HER-24-20, drilling will step-out towards parallel striking zones of strongly anomalous soil and rock chip samples, including skarn-altered limestone containing narrow lenses of massive chalcopyrite.
Western Deeps - A wildcat drill hole is planned to target a deep-seated, parallel-striking high-amplitude chargeability anomaly to the west of Leviathan, interpreted to potentially represent a large block of structurally down-dropped mineralization.
- The number of holes and depths will be determined based on visual mineralization encountered during drilling.
Chris Paul, CEO and Director of the Company, commented, "We are excited to kick off the 2025 program with a far better understanding of the Leviathan porphyry system than we had previously in 2024, thanks to our technical teams' completion of the maiden 3D model over the winter.
Targeting in 2024 focused on testing a range of geophysical and geochemical anomalies to better understand the position of the 2023 discovery holes within the broader system. This drilling explored multiple zones from various orientations and, importantly, utilized oriented core. The resulting data enabled the team to build a robust 3D geological model that highlights the system's key components and how they appear to connect and extend beneath cover.
We are now positioned to systematically test this new interpretation of a large southeast-dipping system using northwest-oriented drill fences, allowing for a more disciplined and targeted approach than was previously possible.
In response to the initial border-related delays, we acted quickly to secure an additional core rig and are also taking steps to potentially secure an RC rig for pre-collars. Together, we anticipate these additions will help keep us on track to achieve our 2025 target without increasing our projected cost per meter. We look forward to providing further updates as the 2025 program advances."
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Dillon Hume, P.Geo. and Vice President, Exploration for the Company. Mr. Hume is a "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Hercules Metals Corp.
Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) is an exploration Company focused on developing America's newest porphyry copper district, in Idaho.
The 100% owned Hercules Project located northwest of Cambridge, hosts the newly discovered Leviathan porphyry copper system, one of the most important new discoveries in the region to date. The Company is well positioned for growth through continued drilling, supported by a strategic investment from Barrick Gold.
With the potential for significant scale, the Company's management and board of directors aims to build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide.
For further information please contact:
Nisha Hasan
Investor Relations
Telephone +1 (604) 425-1408
Email: nisha@herculesmetals.com
Chris Paul
CEO & Director
Telephone +1 (604) 670-5527
Email: chris@herculesmetals.com
Dillon Hume
VP, Exploration
Telephone: +1 (604) 283-2043
Email: dhume@herculesmetals.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, the expected execution of future exploration programs on the Property; assay results of future drill holes; results of operations, and the expected financial performance of the Company.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES METALS AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES METALS MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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SOURCE: Hercules Metals Corp.
