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.
Ready to build on our 2023 discovery! 🔍
Our new core shack & facilities are all set, and our team is gearing up for our 2024 drill program, set to commence imminently. Stay tuned for updates on our journey of #exploration and #discovery! ⛏ $BIG $BADEF#Copper #Silver pic.twitter.com/34rtty8vEZ
— Hercules Silver (@HerculesSilver_) April 17, 2024
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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.
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