Canadian explorer Tier One Silver (TSXV: TSLVF; US-OTC: TSLVF) believes it’s within the early levels of a brand new discovery in Peru.
The Vancouver-headquartered junior just lately accomplished the primary ever drill program on its 100%-owned Curibaya silver-gold mission in southwest Peru, about 48 km northeast of the provincial capital Tacna, near the border with Chile.
The drilling comprised 16 holes (5,347 metres) and intercepted bonanza-grade silver mineralisation. Highlights included drillhole 21CUR016, which intersected seven metres grading 272.3 grams silver per tonne, 0.33 gram gold per tonne, 0.046% zinc, and 0.03% lead (299.1 grams silver-equivalent per tonne) from 139 metres downhole, together with the next grade core of 1.5 metres of 1,128.7 grams silver, 1.04 grams gold, 0.15% zinc, and 0.09% lead (1,213.7 grams silver-equivalent).
Peter Dembicki, Tier One Silver’s CEO, says that Curibaya “hosts a significant intermediate-sulphidation epithermal system that lies on the border between an epithermal belt and a world-class, prolific coastal porphyry belt. The drill outcomes point out that the mission has the potential to host each a large-scale, high-grade silver deposit and porphyry deposit.”
The 16,800-hectare property sits close to a few of South America’s largest porphyry deposits. These embody Southern Copper’s (NYSE: SCCO) Toquepala and Cuajone deposits, roughly 42 km and 68 km north of Curibaya, respectively; the Quellaveco deposit, owned by Anglo American (LSE: AAL; US-OTC: AAUK), about 57 km to the north; and Freeport-McMoran’s (NYSE: FCX) Cerro Verde, 175 km north.
Tier One Silver getting ready for the Induced Polarization geophysical survey at Curibaya. Credit score: Tier One Silver
In 2020, Tier One Silver performed a 450-line-km airborne magnetic survey and a 30-line-km ground-based induced polarization survey of Curibaya. The surveys recognized a two-km by 750-metre chargeability anomaly close to floor, which it believes is a valuable metals goal, and a magnetic anomaly under the chargeability anomaly, which it believes is the intrusion liable for the gold and silver mineralisation at floor.
Mineralisation at Curibaya happens on the dome complicated on the centre of the property and several other structural corridors (Tipal, Sama, Madre, Sambalay, Cambyaya I, and Cambaya II) over a four-km by five-km alteration system. The Incapuquio fault, positioned north of the property, has been interpreted as one of many basic controls for each epithermal and porphyry kinds of mineralisation inside the area.
Tier One Silver plans to re-start drilling on the property in Might, following the top of the wet season. The drilling will give attention to targets greater in elevation within the system at Sambalay, Tipal, and Cambaya.
“The second section of drilling goes to be very thrilling for us,” stated Christian Rios, the corporate’s senior vice chairman of exploration. “We can drill the excessive precedence Cambaya goal space, the place we’ve seen the perfect channel samples thus far, and proceed to discover targets alongside the mineralised corridors to additional improve our confidence that Curibaya may ship a major discovery.”
Rios was the vice chairman of exploration with Bear Creek Mining (TSXV: BCM; US-OTC: BCEFK) from 2001 to 2014 and was concerned with three silver discoveries in Peru, together with the world-class Santa Ana and Corani silver-lead-zinc deposits.
Tier One Silver can also be progressing its Hurricane Silver mission, which hosts quite a few high-grade silver occurrences, about 66 km north of the town of Cusco.
In December, the corporate accomplished a channel sampling program on the mission and targeted on testing partially uncovered silver-base steel vein corridors. Highlights included 21HRT-13, which returned 605 grams silver per tonne, 0.26% copper, 0.21% zinc, and 5.79% lead (860.4 grams silver-equivalent per tonne) from two metres.
Dembicki says that Hurricane Silver “presents the potential to make a second world-class discovery in Peru.”
The previous Joint-Enterprise Article is PROMOTED CONTENT sponsored by TIER ONE SILVER and produced in cooperation with The Northern Miner. Go to www.tieronesilver.com for extra info.
