About the Hercules Silver Property 1,2,3,4,5
The 866-hectare Hercules Silver Property, on the northwestern shoulder of Cuddy Mountain and 200 kilometers northwest of Boise, Idaho , consists of 40 unpatented lode mining claims, one patented lode claim and an additional 475 hectares of private land with attendant access, exploration, mining, milling and water rights. Cuddy Mountain is an uplifted and tilted fault block of accreted Mesozoic terrane about 19 kilometres across, characterized by open grassy slopes. It is surrounded on all sides by rocks of the Columbia River Basalt Group. The core of the mountain is a Triassic-Jurassic sequence of volcanics, volcaniclastics and sediments.
The Cuddy Mountain conglomerate, the basal unit, is 61 metres to 122 metres thick. It grades upwards into fragmented andesite. The Jurassic ash-flow Hercules Rhyolite, which contains the silver mineralization identified historically, overlies the andesite unit. Maximum thickness of the rhyolite, ranges from 91 metres to 122 metres.
The rhyolite, where not exposed, lies below the Brownlee unit which is composed of andesitic pyroclastic tuffs, lenses of manganiferous limestone and lesser amounts of shale and sandstone. Silver values in the 300 to 950 g/t range and generally associated with fractured, shattered and brecciated zones within the Hercules Rhyolite have been recorded in drilling and channel sampling. (See Table 1.) The Bald Eagle team believes that the mineralization is hydrothermal (epithermal). 1
Mineralization has been identified over 4,800 metres of exposed Hercules Rhyolite, with targets from south to north including the Belmont , Haystack Ridge, Fishpond, Hercules Adit, Hercules Ridge and Grade Creek zones. 1
Historical work completed between 1965 and 1988, included results from 307 drill holes and 320 metres of underground development. Of the 307 drill holes, 28 were diamond drill holes, 43 underground percussion, and 236 reverse circulation. As a result of the drill campaigns two target types were identified, being high grade silver accompanied by 1-2 % lead and zinc and lower grade disseminated silver suggesting bulk tonnage potential.
Limited mineralogical work indicates that silver-bearing minerals are included in a polymetallic assemblage of sulfosalts including tetrahedrite-tennantite and polybasite with accessory pyrite, sphalerite and galena. 1,2,4,5
Mineralization occurs in brecciated pipe-like zones as well as broad, tabular zones, each being surrounded by halos of lower grade material. Historic drilling shows the pipes to increase in grade and thickness and remain open at depth. The two largest silver-in-soil anomalies on the Property occur at the Hercules Ridge which has seen little drilling, and the Grade Creek Zone which has not been drilled. 1,2
Hercules Silver Property Highlights:
- A significant brownfield land package of nine square kilometers within the underexplored Cuddy Mountain Mining province in West Central Idaho.
- A silver rich terrane which has been prospected for silver occurrences since the late 19th century, with six historically identified silver-mineralized zones.
- Historic drill intercepts including hole 80-13 with 10.7 meters of 825 grams/tonne ("g/t") silver, hole PH 42 with 29.3 meters of 259 g/t silver and hole PH 33 with 14.6 meters of 562 g/t.1,2,3 (See Table 1)
Table 1 – Selected Historically Reported Intercepts (Muraro, 2012)1,2; Available at First Idaho Resources Inc.'s SEDAR profile - www.sedar.com
Neither the company nor the Qualified Person disclosed below has independently verified the historical drilling results and true widths and further have not verified sampling and analytical test results. Summaries of past quality control measures and data verification procedures are not available, other than reviewing the results from the NI 43-101 herein referenced. Core recoveries have not been verified.1,2,3,4,5
- The technical information disclosed in this news release, including historical drilling results on the Hercules Property is obtained directly from the historical report "NI 43-101 Technical Report on the Hercules Silver Property, Washington County, Idaho for First Idaho Resources Inc. and Anglo-Bomarc Mines Ltd., June 2012, by T.W. Muraro, P.Eng.". (Filed April 3, 2013 and available on First Idaho Resources Inc.'s SEDAR profile at www.sedar.com).
- Don H. Adair, High Grade Silver Potential of the Hercules Project, Cuddy Mountain District, Idaho, For Anglo-Bomarc Mines, Ltd., December 23, 1985, Boise, Idaho, referenced in NI-43-101 Muraro Technical Report.
- A qualified person has not done sufficient work to classify any historical estimates of resources as current mineral resources or mineral reserves and the issuer is not treating any historical estimates as current mineral resources or mineral reserves and has not verified the historical drilling results or any information disclosed in this press release, including sampling, and analytical test results. Summaries of past quality control measures and data verification procedures are not available, other than reviewing the results from the NI 43-101 herein referenced.
- Livingston, D.C., A Geologic Reconnaissance of the Mineral and Cuddy Mountain, 1923, Mining District, Washington and Adams Counties, Idaho, Pamphlet No. 13, Idaho Bureau of Mines and Geology, State of Idaho.
- Don. H Adair, Geological Report on the Hercules Silver Property, Cuddy Mountain, Idaho, for First Idaho Resources Inc., September 14, 2001.