Hercules Metals Secures Mineral Lease Agreement with the State of Idaho
Hercules Metals Corp (OTCQB: BADEF) has secured a significant 20-year mineral lease agreement with the Idaho Department of Lands, expanding its land position by over 46%. The agreement covers approximately 7,669 acres of state-owned land adjacent to its Hercules Property and 640 acres near its Mineral property in western Idaho.
The expansion increases the company's total land position to 24,276 acres at the Leviathan porphyry discovery and 2,243 acres at the Mineral property. The newly leased area, previously unexplored due to post-mineral basalt cover, shows promising potential following the company's 2023 Leviathan porphyry discovery.
Recent drilling in the Southern Flats Zone (HER-24-16) revealed an extension of the silver system below post-mineral basalt, suggesting potential continuation of both silver and porphyry systems. The company plans to implement new geophysical technologies to explore these high-priority targets.
Hercules Metals Corp (OTCQB: BADEF) ha ottenuto un importante contratto di locazione mineraria di 20 anni con il Dipartimento delle Terre dell'Idaho, ampliando la sua posizione territoriale di oltre il 46%. L'accordo copre circa 7.669 acri di terra di proprietà statale adiacente alla sua Proprietà Hercules e 640 acri vicino alla sua proprietà Minerale nell'Idaho occidentale.
Questa espansione aumenta la posizione totale dell'azienda a 24.276 acri nella scoperta di porfido Leviathan e 2.243 acri nella proprietà Minerale. L'area recentemente affittata, precedentemente inesplorata a causa della copertura basaltica post-minerale, mostra un potenziale promettente dopo la scoperta del porfido Leviathan nel 2023 da parte dell'azienda.
Recenti perforazioni nella Southern Flats Zone (HER-24-16) hanno rivelato un'estensione del sistema argentifero sotto il basalto post-minerale, suggerendo una potenziale continuazione sia dei sistemi argentiferi che di porfido. L'azienda prevede di implementare nuove tecnologie geofisiche per esplorare questi obiettivi ad alta priorità.
Hercules Metals Corp (OTCQB: BADEF) ha asegurado un importante acuerdo de arrendamiento mineral de 20 años con el Departamento de Tierras de Idaho, ampliando su posición territorial en más del 46%. El acuerdo abarca aproximadamente 7,669 acres de tierras estatales adyacentes a su Propiedad Hercules y 640 acres cerca de su propiedad Mineral en el oeste de Idaho.
La expansión aumenta la posición total de la empresa a 24,276 acres en el descubrimiento de porfido Leviathan y 2,243 acres en la propiedad Mineral. El área recientemente arrendada, previamente inexplorada debido a la cobertura de basalto post-mineral, muestra un potencial prometedor tras el descubrimiento del porfido Leviathan en 2023 por parte de la empresa.
Las perforaciones recientes en la Zona Southern Flats (HER-24-16) revelaron una extensión del sistema de plata debajo del basalto post-mineral, sugiriendo una posible continuación tanto de los sistemas de plata como de porfido. La empresa planea implementar nuevas tecnologías geofísicas para explorar estos objetivos de alta prioridad.
헐큘리스 메탈스 코퍼레이션 (OTCQB: BADEF)는 아이다호 토지부와 20년의 중요한 광물 임대 계약을 체결하여 토지 위치를 46% 이상 확장했습니다. 이 계약은 헐큘리스 소유지 인근의 7,669에이커의 주 소유 토지와 서부 아이다호의 광물 소유지 근처의 640에이커를 포함합니다.
이번 확장은 회사의 총 토지 위치를 레비아탄 포르피리 발견 지역에서 24,276에이커로, 광물 소유지에서 2,243에이커로 증가시킵니다. 최근 임대한 지역은 광물 후 기저암 덮개로 인해 이전에는 탐사되지 않았으며, 2023년 회사의 레비아탄 포르피리 발견 이후 유망한 잠재력을 보이고 있습니다.
최근 Southern Flats Zone (HER-24-16)에서의 시추 작업은 광물 후 기저암 아래의 은 시스템 확장을 밝혀내어 은 및 포르피리 시스템의 지속 가능성을 제시하고 있습니다. 회사는 이러한 고우선 목표를 탐사하기 위해 새로운 지구물리학적 기술을 도입할 계획입니다.
Hercules Metals Corp (OTCQB: BADEF) a sécurisé un important contrat de bail minier de 20 ans avec le département des terres de l'Idaho, élargissant sa position foncière de plus de 46 %. L'accord couvre environ 7 669 acres de terres appartenant à l'État adjacentes à sa propriété Hercules et 640 acres près de sa propriété minérale dans l'ouest de l'Idaho.
Cette expansion porte la position totale de l'entreprise à 24 276 acres dans la découverte de porphyre Leviathan et 2 243 acres dans la propriété minérale. La nouvelle zone louée, auparavant inexplorée en raison d'une couverture de basalte post-minéral, montre un potentiel prometteur suite à la découverte du porphyre Leviathan par l'entreprise en 2023.
Des forages récents dans la zone de Southern Flats (HER-24-16) ont révélé une extension du système d'argent sous le basalte post-minéral, suggérant une possible continuité des systèmes d'argent et de porphyre. L'entreprise prévoit d'implémenter de nouvelles technologies géophysiques pour explorer ces cibles de haute priorité.
Hercules Metals Corp (OTCQB: BADEF) hat einen bedeutenden 20-jährigen Mineralpachtvertrag mit dem Idaho Department of Lands gesichert und damit seine Grundstücksposition um über 46 % erweitert. Der Vertrag umfasst etwa 7.669 Acres Staatsland, das an sein Hercules-Eigentum angrenzt, sowie 640 Acres in der Nähe seines Mineralgrundstücks im westlichen Idaho.
Die Erweiterung erhöht die Gesamtfläche des Unternehmens auf 24.276 Acres bei der Leviathan-Porphyr-Entdeckung und 2.243 Acres bei der Mineralfläche. Das neu gepachtete Gebiet, das zuvor aufgrund von nach-mineralischem Basalt nicht erkundet wurde, zeigt vielversprechendes Potenzial nach der Entdeckung des Leviathan-Porphyrs durch das Unternehmen im Jahr 2023.
Jüngste Bohrungen in der Southern Flats Zone (HER-24-16) zeigten eine Erweiterung des Silbersystems unter dem nach-mineralischen Basalt, was auf eine mögliche Fortsetzung sowohl der Silber- als auch der Porphyrsysteme hinweist. Das Unternehmen plant, neue geophysikalische Technologien einzuführen, um diese hochpriorisierten Ziele zu erkunden.
- Secured 20-year mineral lease agreement expanding land position by 46%
- Recent drilling discovered silver system extension in Southern Flats Zone
- Property located in jurisdiction supporting fast-track permitting (SPEED Act)
- Strategic consolidation in area with proven mineral discoveries
- Newly leased area remains completely unexplored
- Requires significant investment in new geophysical technologies
- Post-mineral basalt cover complicates exploration efforts
Toronto, Ontario--(Newsfile Corp. - March 4, 2025) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) ("Hercules" or the "Company") is pleased to announce that its U.S. subsidiary, Anglo-Bomarc, U.S., Inc. (the "Lessee") has entered into a twenty year mineral lease agreement with the Idaho Department of Lands ("IDL" or the "Lessor") to explore, develop and mine metallic minerals on approximately 7,669 acres of state-owned land adjacent to its Hercules Property in western Idaho ("Hercules" or the "Property") and 640 acres adjacent to its nearby Mineral property (collectively the "Lease Area"). This new addition increases the Company's land position in the district by over
Chris Paul, CEO and Director of the Company, noted: "This lease is consistent with our strategy of consolidating scale in the Hercules Porphyry Belt. As we advance the Leviathan discovery, our expanded land position provides us the ability to continue to explore, develop and mine, which aligns with Idaho's new Strategic Permitting, Efficiency, and Economic Development (SPEED) Act1, aimed at fast-tracking permitting and unlocking value in the states largely untapped mineral endowment."
The last cycle of exploration in the Hercules district lasted from 1965 through to 1984, consisting of shallow drilling below historical silver mines on the Hercules and Mineral properties. However, historical exploration never tested below areas with post-mineral cover due to the technological limitations of the time. As a result, the Lease Area, which is entirely covered with post-mineral basalt, went completely unexplored.
The Company's 2023 discovery of the Leviathan porphyry has revealed significant potential throughout the surrounding area. Follow-up drilling and surface mapping have since highlighted porphyry emplacement along a NW-SE trend which specifically increases the potential of the Lease Area. To test this, and fully appreciate the scope of the now consolidated target, the Company plans on activating powerful new geophysical technologies, aimed at unlocking the potential of these previously unexplored high-priority targets.
In addition to the copper porphyry discovered below the silver system in 2023, a recent wildcat hole drilled in the new Southern Flats Zone, HER-24-16, discovered an extension of the silver system immediately below post-mineral basalt. Since the epithermal silver system overlaps with and enriches the upper part of the porphyry, strong potential is indicated for the continuation of both systems below thin cover in the Southern Flats Zone. The post-mineral basalt was revealed to be just 40 meters thick in HER-24-16.
Figure 1: New state mineral leases adjacent to Hercules property, showing porphyry targets and post-mineral cover.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/243227_8e17517644f4c9b0_002full.jpg
Mineral Property
A section (640 acres) of state land adjacent to the southern boundary of the Company's Mineral property is included in the lease agreement (Figures 2-5). For additional information on the Mineral property, see news release dated October 2, 2023.
Figure 2: New state mineral lease adjacent to the Company's Mineral property, overlain with an airborne potassium (K) radiometrics survey. Warm colours indicate potassium enrichment, which at the Hercules property, is associated with the epithermal alteration and correlates strongly with silver. The linear highs may indicate important structural controls.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/243227_8e17517644f4c9b0_003full.jpg
Figure 3: Copper in soil and select rock grab samples2 taken during a property evaluation by Newmont Corporation in 20133.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/243227_8e17517644f4c9b0_004full.jpg
Figure 4: Gold in soil and select rock grab samples2 taken during a property evaluation by Newmont Corporation in 20133.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/243227_8e17517644f4c9b0_005full.jpg
Figure 5: Molybdenum in soil and select rock grab samples2 taken during a property evaluation by Newmont Corporation in 20133.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/243227_8e17517644f4c9b0_006full.jpg
About the Idaho Department of Lands
The Idaho Department of Lands manages over 3.4 million acres of state endowment trust land, with a mandate to maximize revenue for the benefit of public schools and other institutions. Mineral leasing is a key component of this mission, contributing to Idaho's economic development and educational funding.
Commitment to Responsible Development
The Company is committed to adhering to all regulatory requirements and implementing best practices to ensure environmental stewardship and community engagement throughout the project.
Terms of the Lease
The lease has a primary term of 20 years, commencing on March 1, 2025, and expiring on February 28, 2045, with the potential to extend the lease beyond its initial term, subject to Idaho law and a negotiated extension agreement with the Lessor.
Under the terms of the lease, the Lessee will pay an annual rental fee of US
These financial commitments underscore the Company's long-term investment in the project and its contribution to Idaho's critical minerals development.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Iain Campbell, P.Geo. Iain Campbell is an independent "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Hercules Metals Corp.
Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) (FSE: C0X) is an exploration Company focused on developing Idaho's newest copper and silver district.
The
With the potential for significant scale, the Company's management and board of directors aims to build on its proven track record which includes the discovery and development of numerous precious metals projects worldwide.
For further information please contact:
Nisha Hasan
Investor Relations
Telephone +1 (604) 425-1408
Email: nisha@herculesmetals.com
Chris Paul
CEO & Director
Telephone +1 (604) 670-5527
Email: chris@herculesmetals.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, the expected execution of future exploration programs on the Property; assay results of future drill holes; results of operations, and the expected financial performance of the Company.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF HERCULES METALS AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE HERCULES METALS MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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 press release.
1 https://gov.idaho.gov/pressrelease/gov-little-signs-speed-act-to-further-streamline-state-permitting/
2 The reader is cautioned that rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the Property.
3 Reid, D., 2014. Mineral Mining District, Idaho. Presentation, March 2014.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243227
FAQ
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How long is the mineral lease agreement between Hercules Metals (BADEF) and Idaho Department of Lands?
