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Final Preparations Underway for Upsized Phase II Drill Program at Hercules
Final preparations underway for upcoming Phase II drill program at Hercules, including constructi...
About this update from Hercules Metals Corp
[{"type":"text","content":"Final Preparations Underway for Upsized Phase II Drill Program at HerculesFinal preparations underway for upcoming Phase II drill program at Hercules, including construction of core logging and cutting facilities;Phase II program upsized to a minimum of 6,000 meters to allow testing of additional targets and deeper drilling;The Company expects to remain fully financed for a follow-up Phase III drill program as well;Phase II program will be focused on the following targets:Hercules Adit and Frogpond Zones: Step-out holes aiming to extend these zones of historical focus, as well as infill and further verify historical drilling results;CRD-style silver-lead-zinc host, the Hercules Rhyolite: Strong targets identified through recent surface mapping and geochemistry, including the Hinge, Haystack and Belmont Zones;New porphyry copper-silver (+/- gold) target identified by surface mapping and geochemistry: Interpreted as a potential feeder zone to silver-lead-zinc mineralization;Large-scale untested chargeability anomaly at depth, where the Hercules Rhyolite approaches the porphyry copper target: The CRD model predicts an increase in silver-lead-zinc and copper gradesAdditional ~$1.3M in cash received from exercise of warrants and options.Toronto, Ontario--(Newsfile Corp. - May 8, 2023) - Hercules Silver Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: 8Q7) (\"Hercules Silver\" or the \"Company\") is pleased to report that the Company has upsized its previously announced Phase II drill program on the Hercules Property located in western Idaho (\"Hercules\" or the \"Property\"). Following the receipt of approximately ~$1.3M in cash from the recent exercise of options and warrants and the closing of a $5.75M private placement, the Company has elected to increase the size of its upcoming Phase II drill program to a minimum of 6,000 meters, allowing for deeper drilling and the testing of additional high-priority targets. The primary goals of the Phase II program will be to (i) extend the best-known historical mineralization at the Hercules Adit and Frogpond Zones, and (ii) test multiple new targets generated by recent greenfields exploration. A third phase of drilling will follow, once all assay results have been received, interpreted and released to the market. The upcoming Phase II drill program is anticipated to commence in the next two weeks and...