Tier One Silver Inc. (TSXV:TSLV) (OTCQB:TSLVF) reported composite chip sampling highlights from the new Rayanpata target area at its Hurricane project in southern Peru. Sample highlights covering 1 square metre per sample, returned 1.59% copper, 0.24% nickel, 0.22 g/t palladium, 0.13 g/t platinum, 204 g/t cobalt, 0.21 g/t gold from sample 918260 and 1.43% Cu, 1.86% Ni, 0.16 g/t Pd, 0.18 g/t Pt, 1,110 g/t Co from sample 918262, and 0.84% Cu, 2.26% Ni, 0.24 g/t Pd, 0.24 g/t Pt, 1,280 g/t Co from sample 918263.
Additional Information:
Video Transcript:
Tier One Silver Inc. (TSXV:TSLV) (OTCQB:TSLVF) reported composite chip sampling highlights from the new Rayanpata target area at its Hurricane project in southern Peru.
The Hurricane project covers approximately 30,000 hectares and is located about 66 kilometres (km) north of the city of Cusco within an underexplored region in southeastern Peru.
Numerous high-grade silver occurrences have been identified at the project through first pass reconnaissance rock sampling by a previous operator.
Sample highlights covering 1 square metre per sample, returned 1.59% copper, 0.24% nickel, 0.22 g/t palladium, 0.13 g/t platinum, 204 g/t cobalt, 0.21 g/t gold from sample 918260 and 1.43% Cu, 1.86% Ni, 0.16 g/t Pd, 0.18 g/t Pt, 1,110 g/t Co from sample 918262, and 0.84% Cu, 2.26% Ni, 0.24 g/t Pd, 0.24 g/t Pt, 1,280 g/t Co from sample 918263.
Of the 17 samples, 65% reported values above 0.1% nickel, with 35% reporting values above 1% copper.
Two samples reported values above 1,000 g/t cobalt.
These results are part of a new area that is located 3 kilometres north from the Magdalena high-grade silver vein target.
The majority of the samples report high-grade values for copper, nickel and cobalt, and all of the results appear to be related to magmatic-style sulphide mineralization within a gabrodioritic sill.
Two styles of mineralization have been recognized to date: crackle breccia type mineralization and gabrodioritic sills in the hanging wall to the breccias, with disseminated chalcopyrite, pentlandite, and copper oxides.
These structures were recognized and sampled in the Rayanpata creek as nearly 85% of the target area is obscured by shallow erosional cover and vegetation.
Christian Rios, Senior VP Exploration, stated: "Hurricane's new Rayanpata target, and the San Cipriano and Ñañohuayco targets, are part of the first copper-nickel magmatic sulphide system that we know of in Peru. The Rayanpata target was found after only five days of field work, with occurrences identified over an area that is approximately 2 km by 800 metres in size. The system remains open in all directions and additional field work will focus on the identification of extensions to known mineralization, as well as additional mineralized structures. We are looking forward to advancing this new, high-grade target."
Peter Dembicki, CEO, added: "Our Hurricane project continues to provide high-grade results, not only from existing targeted areas, but additional areas that have been of interest to our technical team since we optioned the project. We certainly believe that these copper and nickel grades are worth pursuing as we continue to define our Hurricane exploration programs for this year."
The shares are trading at $0.32.
For more information on the company and its other properties, please visit the company’s website www.TierOneSilver.com, contact Natasha Frakes, VP, Communications, at 778-729-0600 or info@TierOneSilver.com.
