This company is awakening a US silver asset that was heading for production in the 80s
At the time those plans were abruptly stopped as silver crashed 85% to below $5/oz
Over 300 historical drill holes up to 1,700g/t Ag PLUS a resource
Currently for an EV of $7.5M 👇🧵
/1
The Hercules Silver project is an advanced stage silver exploration project in Idaho, one of best jurisdictions worldwide
Currently explored by Hercules Silver
Company had a makeover in recent months:
New asset
New CEO
name change
and stronger technical team
2/
Tom Hendricksen, renowned geologist recently added to team
Awarded for discovering and exploring Hod Maden, Constancia and Zafranal deposits
Currently working as consultant for Coeur Mining and more
From Idaho and did his PhD thesis on...
🥁
The Hercules Silver project
3/
Project itself saw no modern exploration in 30 years and the company is currently doing a 3D IP survey and drilling the historical resource (7Moz @ 106g/t Ag non 43-101 compliant) + stepouts
Phase 2 drilling in spring will test new targets based on IP results and sampling
4/
Historic drill results:
30.5m of 335.6g/t silver (4.3g/t AuEq)
47.2m of 377.5g/t silver (4.84g/t AuEq)
27.4m of 394.3g/t silver (5.06g/t AuEq)
15.2m of 770g/t silver (9.87g/t AuEq)
45m of 380.3g/t silver and 3% zinc (6.99g/t AuEq)
/5
Surface sampling has shown lots of smoke:
Elevated silver (604g/t) and zinc (2.83%) values stretching an area of 5km...
and discovered a copper gold porphyry target, away from previous drilling. This will get targeted in phase 2 drill program in Spring '23
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15% held by insiders, CEO >7.5% and bought $46K CAD YTD
Awaiting drill assays and results from 3D IP survey. These latter will guide phase 2 drilling in spring and will see a large portion dedicated to the copper gold porphyry target
This won't stay at an EV of $7.5M
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The company i have been talking about is Hercules Silver.
$BIG.v #FF@HerculesSilver_
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with a few hours to go, it's time to wrap the year.
Finishing YTD at +129.6% 🙏
$GDXJ ended +6.5%, $SILJ minus 5.1%
took some time to write down what i did different
1/
First, letting my winners ride. The single most important one in discovery investing. Evaluate the case and don’t be shy to average up when the co is as cheap as it was when trading 5x lower. My winners became OUTSIZED winners. multiple 2x and a few home runs 10x plus stocks.
2/
Pressing the bet / averaging up when evidence or breadcrumps are mounting. While I rarely did this before, I bought like mad on BRW when it was 30-45c, and in Hercules when it sold off to 18c it was clear they had hit something special from two press releases.
/3
Gold attacking ATH's.
While a lot of investors are focused on Silver, i proved over the last year as much money can be made by carefully selecting Gold Juniors.
here is my top 5 for 2024 ranked in terms of position size. Always DYODD
👇
1/5FDR.v Suriname – very aggressive exploration, doubling in 2024 – multi-million ounce potential over two sites - super short assay time - bi-weekly news flow – majors sniffing around – supertight share structure - very sexy buy-out target
2/5 IGO.v Canada Southern B.C (almost year-round drilling) – predictive vein system – consistently adding ounces – resource at 5g/t Gold – potential porphyry as bonus - tight share structure - very sexy buy-out target for Artemis
The helicopter survey confirms data that says the claystone model within the entire basin is highly prospective….13 newly identified targets. All 4,800 hectares $GMV.v
miners tend to be a very poor investment, most of the time
except for some periods: we are at the edge of new miners' madness.
miners' madness arises when A) gold makes all-time highs + B) there is a very long base.
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Wrong examples are often cited. the right examples are so long ago that only veterans remember them.
Historically, there are only 2 previous times where both Gold made ATHs after a very frustrating baser building combined with a long-stretched downward trend in miners.
/2
The 1970s may be the best comparison, in terms of inflation and how the miners behaved.
Until the very last day, they were bleeding.
Total lack of interest.
And then: BOOM
the average Jr had a return of 2318% this period, majors did x10
/3
To reiterate: Cassiar's projects saw historical production and have infrastructure both on and in the vicinity of projects
-A highway going through
-160km of property road access
-An airstrip
-An own & permitted 300tpd mill
-Camp site with power and water
+ Mining permits!
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The company plans to drill a large 20,000m with 3 diamond drills
They currently have 2 active drills at Taurus, one of which will shift to drill regional targets starting Q3
The 3rd rig is firing up just about now and will test HG vein targets (10-20g/t Au) at Cassiar South
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