VANCOUVER, BC / ACCESSWIRE / September 12, 2022 / Tier One Silver Inc. (TSXV: TSLV)(OTCQB: TSLVF) (“First level“or the”Company“) is pleased to announce that it has initiated a 35 line-kilometre (km) controlled-source magnetotelluric geophysical survey (CSAMT) in the central part of the Curibaya project in southern Peru. The purpose of this survey is to define resistivity properties at depth, where areas of lower resistivity and higher conductivity may indicate areas of intense hydrothermal alteration that may be associated with a copper porphyry system at depth (Figure 1). Potential Porphyry System Underlying the Surface-Defined Epithermal System Currently, results are expected from a channel sampling program to refine precious metal targets in the newly licensed Cambaya target area.
A message from Peter Dembicki, President, CEO and Director:
“The CSAMT geophysical survey is a key piece of learning more about potential copper porphyry mineralization, for which we saw indications during our first phase of exploration at Curibaya. This is an exciting development for the company to unlock the large potential copper porphyry opportunity next to the epithermal silver system that we have already identified, and we look forward to defining these targets for our next drill program.”
Copper porphyry potential:
The first phase of drilling and surface work has provided several lines of evidence that a porphyry target exists in the central region of the mineralized system, as currently defined. An analysis of the geochemistry of the veins across the property demonstrated concentric zoning with copper-lead-zinc zoning outward to lead +/- copper and then to zinc +/- lead in the peripheral zone (Figure 1). This geochemical zonation is consistent with porphyry systems and the central copper-lead-zinc zone would be the main target zone at depth. Within the copper-lead-zinc geochemical core, skarn mineralization is observed at the surface, indicating proximity to intrusives. Small-scale porphyry dykes 1 to 2 meters (m) wide and associated magnetite veinlets were intersected in the Phase I drilling program in the Madre and Tipal structural corridors, also indicating the potential for a porphyry proximal. Additionally, drill holes 6 and 8 had molybdenum (Mo) intersections grading 5 m at 85 ppm Mo and 44 m at 52 ppm Mo, respectively, providing a potential vector to a porphyry system at depth (Figure 2). Collectively, this evidence supports continued targeting and guidance work toward a porphyry system at depth.
Figure 1: Illustrates geochemical zoning observed in precious metal veins in the Curibaya project area. An analysis of the geochemistry of the veins across the property demonstrated concentric zoning with copper-lead-zinc zoning outward to lead +/- copper and then to zinc +/- lead in the peripheral zone. This geochemical zonation is consistent with porphyry systems and the central copper-lead-zinc zone would be the main target zone at depth. In addition, the magnetic and chargeability anomalies shown in the figure could represent potassic intrusion or alteration and sulphidation at a depth of approximately 400 m, respectively.
Figure 2: Illustrates the conceptual geological model of the mineralization of the Curibaya project. Importantly, the higher elevations are interpreted to represent an increase in the vertical extent of precious metal mineralization with a porphyry target at depth, between the Sama and Sambalay corridors, as evidenced by: zonation geochemistry in vein geochemistry, skarn mineralization observed at low elevations. near the Madre corridor, molybdenum increasing with depth in holes 6 and 8, as well as the presence of magnetic anomalies at approximately 400 m depth.
Additionally, the Company announces that it has engaged Native Ads Inc. (“Native Ads”) of Vancouver, British Columbia, a digital media expert firm, to execute a comprehensive digital media marketing campaign supporting Tier One’s ongoing efforts to increase awareness. This comprehensive advertising program is designed to build brand awareness, general recognition and awareness within online content platforms for investors. Native Ads will use industry-leading digital advertising, paid distribution, media buying and content creation to execute this important initiative. Native Ads was founded in 2014.
This programmatic digital advertising campaign will run for up to 6 months, or while the budget is exhausted, at a cost of approximately $215,000 CAD. No guarantee of compensation is implied. The Company and Native Ads act at arm’s length, and Native Ads has no actual interest, direct or indirect, in the Company or its securities. The appointment of Native Ads is subject to the approval of the TSX Venture Exchange.
Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and is responsible for the technical content of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.
President, CEO and Director
For more information about Tier One Silver Inc., please contact Natasha Frakes, Vice President of Communications at (778) 729-0600 or [email protected]
About the first level
Tier One Silver is an exploration company focused on creating shareholder and stakeholder value through the discovery of world-class silver, gold and base metal deposits in Peru. The Company’s management and technical teams have a strong track record in raising capital, discovering and monetizing exploration success. The Company’s exploration assets in Peru include: Hurricane Silver, Coastal Batholith, Corisur and the flagship project, Curibaya. For more information, visit www.tieronesilver.com.
Analytical samples were taken by sawing HQ or NQ diameter cores into equal halves on site and sent one of the halves to the ALS laboratory in Arequipa, Peru for preparation and then to Lima, Peru for analysis. All samples are analyzed using a 30 g nominal weight fire assay with atomic absorption finish (Au-AA25) and the four-element multi-element acid digestion ICP-AES/ICP-MS method (ME-MS61). When MS61 results were above or near 10,000 ppm Cu, 10,000 ppm Pb, or 100 ppm Ag, the test was repeated with the grade four (Cu, Pb, Ag-OG62) acid digestion method. When OG62 results were above or near 1500 ppm Ag, the assay was repeated with a nominal 30 g weight fire assay with gravimetric finish (Ag-GRA21).
QA/QC programs for 2021 core samples using company and laboratory duplicates, standards and blanks indicate good accuracy and precision in the vast majority of standards tested.
True widths of mineralization are unknown based on current geometric understanding of mineralized intervals.
Channel Sampling – Curibaya
Analytical samples were taken at every 1 meter interval from the channel bottom, yielding approximately 2-3 kg of rock chips per sample. The samples collected were sent to the ALS laboratory in Arequipa, Peru, for preparation, and then to Lima, Peru, for analysis. All samples are analyzed using a 30 g nominal weight fire assay with atomic absorption finish (Au-AA25) and the four-element multi-element acid digestion ICP-AES/ICP-MS method (ME-MS61). When MS61 results were above or near 10,000 ppm Cu, 10,000 ppm Pb, or 100 ppm Ag, the test was repeated with the grade four acid digestion method (Cu, Pb, Ag-OG62 ). When OG62 results were above or near 1500 ppm Ag, the assay was repeated with a nominal 30 g weight fire assay with gravimetric finish (Ag-GRA21). QA/QC programs for channel 2021 samples using internal standard samples and blank samples; field and lab duplicates indicate good overall accuracy and precision.
Forward-looking information and general disclaimer
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”) that relate to the Company’s current expectations and beliefs about future events and are not historical facts and may be forward-looking. – forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. No assurance can be given that such expectations will prove to be correct and no reliance should be placed on any forward-looking statements included in this press release. These statements speak only as of the date of this press release. In particular, and without limitation, this press release contains forward-looking statements regarding exploration plans, particularly with respect to drilling and there is no certainty that the locations will ultimately be drilled or, if they are drilled, will uncover mineralization.
Readers should refer to the risks described in the Company’s Annual Information Form and MD&A for the year ended December 31, 2021, as well as the continuous disclosure documents subsequently filed with the Canadian Securities Administrators available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THE SOURCE: Tier One Argent Inc.
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