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Wednesday, May 22, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Hercules Silver kicks off largest drill program to date at Idaho property

Core samples from the program will be analyzed at a lab in Langley, BC

Hercules Silver kicks off largest drill program to date at Idaho property
Workers at the company's flagship operation last week. Photo credit: Hercules Silver

Toronto’s Hercules Silver Corp. (TSX-V: BIG) started the largest-ever drill program at its flagship mining site in Hayden, Idaho on Monday. The company will work non-stop with two 12-hour shifts until it concludes, drilling 20,000 metres.

Core samples from the campaign will be sent to and examined by British Columbia’s MSALABS. It provides geochemical and PhotonAssay analyses, along with other services.

“This is the largest program we have had to date and is backed by an immense amount of planning and interpretation supported by our largest shareholder, Barrick Gold Corporation (TSX: ABX),” Director Chris Paul said. Barrick holds a 14 per cent stake in Hercules.

The company now has three drill rigs mobilized and turning. Information obtained from those first three holes will influence the planning of additional holes, Hercules says.

The silver and copper miner has contracted Idaho’s Timberline Drilling to help carry out the program. Hercules got its core shack prepped and ready to go in mid-April.

Read more: U.S. Gold to present at New York’s Current Trends in Mining Finance Conference

Read more: U.S. Gold secures US$4.9 million to advance Wyoming copper-gold asset

Hercules strengthens technical advisory team

The company brought Charlie Greig onto its team to serve as Strategic Technical Advisor at the end of April.

Greig won the Prospectors and Developers Association of Canada’s Bill Dennis award in 2022 for his discovery of the Saddle North porphyry deposit in British Columbia.

Saddle North, situated at CT Gold’s former Tatogga property, is now owned by Newmont Corporation (TSX: NGT). Barrick’s Nevada Gold Mines joint venture partner (Newmont) acquired CT Gold in 2021.

Idaho has a reputation for having a robust mining industry. Canada’s Fraser Institute says it is superior to any Canadian mining jurisdiction.

Other companies actively extracting precious metals in the state include Liberty Gold Corp. (TSX: LGD), operator of the Black Pine gold project; U.S. Gold Corp. (Nasdaq: USAU), developer of the Challis gold operation; and Perpetua Resources Corp. (TSX: PPTA), owner of the Stibnite mine.


U.S. Gold is a sponsor of Mugglehead news coverage


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