Hercules Metals: Smarter Drilling, Big Upside Potential in 2025
250428: Symbol: TSXV: $BIG / OTC: $BADEF Price: 0.60 CAD Market cap: 155 million CAD
Hercules Metals has initiated a 12,000-meter drill program at its Leviathan porphyry discovery in Idaho. This campaign is poised to be the most focused and effective yet, building upon insights gained from previous explorations. With refined targeting and deepened geological understanding, Hercules could be on the cusp of unlocking major value for shareholders.
Importantly, Hercules management has reaffirmed a "underpromise and overdeliver" strategy for this season, setting the stage for potential positive surprises.
Why Leviathan Stands Out
In 2023, a discovery hole intersected 185 meters of 0.84% copper, marking a significant blind hit. That single hole opened up what is now a 1.6 x 1.3 km porphyry system — still open in all directions. This scale and early success suggest the presence of a Tier 1 system.
A newly completed 3D block model reveals the system dips southeast. As a result, Hercules has rotated its drill orientation northwest to intersect the mineralized shell more effectively. This strategic refinement could improve both hit rates and cost-efficiency dramatically.
The significance of this 3D model cannot be overstated: it was built using oriented core drilling, aligns with independent geophysical and geochemical datasets, and provides a dramatically higher probability of successful targeting compared to last year.
2025 Drill Program Highlights
- Budget: $6.6 million (fully funded)
- Drilling: 12,000 meters across 23 holes
- Focus: High-grade centers identified through updated geological modeling
- New IP/MT Survey: Begins May 1 and expected to enhance subsurface imaging
- Strategic Backing: $25 million investment from Barrick Gold, underscoring confidence in the project
Notably, the 2025 drill program is designed to be scalable. If early holes deliver strong results, the program could be expanded significantly.
These elements combined make this one of the most compelling copper-gold drill campaigns underway in North America.
Target Zones with High Potential
- Grade Creek – A northeast extension of the Leviathan system showing strong geophysical signatures. Targeting will test for potential bornite-rich potassic cores and better-preserved mineralization, based on new modeling.
- Southern Flats – A high-priority, untested zone where geophysical anomalies suggest continuation of mineralization under shallow cover, offering excellent discovery potential.
- Eastern Block / Big Cut Skarn – A skarn-style zone where surface sampling has returned values up to 21% copper, 4.5 g/t gold, and 1,085 g/t silver.
Additionally, Western Deeps, a large untested chargeability anomaly west of Leviathan, represents a longer-term blue-sky opportunity for Hercules with significant upside potential.
The Hidden Silver Asset
Beyond copper, Hercules owns a historic silver resource estimated at ~180 million ounces (non-43-101 compliant). Hosted in a rhyolite cap above Leviathan, this silver is:
- Shallow and consistent
- Historically defined, with drill data to back it up
- Largely untouched in recent years
With silver trending higher due to industrial demand and monetary interest, this could become one of the largest undeveloped silver resources in the United States.
Investment Considerations
- Market Capitalization: ~C$155 million
- Cash Reserves: $9.3 million — enough to fully fund the 2025 drill campaign
- Ownership: 100% interest in the project, including surface mining rights
- Location: Idaho is a top-tier jurisdiction with a pro-mining stance
- Dual Exposure: Copper for the green energy future; silver for industrial and monetary leverage
Hercules has also strengthened its technical team by appointing Dillon Hume as Vice President of Exploration. His deep geological expertise and strong work ethic are expected to boost operational execution
Final Thoughts
The global copper market is in structural deficit as electrification ramps up. Silver is enjoying renewed momentum as both an industrial metal and inflation hedge. Very few junior explorers have exposure to both — and even fewer control a Tier 1-scale system in a low-risk jurisdiction.
With a focus on underpromising and overdelivering, and bolstered by a robust geological model and new technical leadership, Hercules Metals is positioning itself for a potentially transformational 2025.
If Hercules Metals can deliver strong intercepts in 2025 or expand its silver envelope, the company could be re-rated significantly by the market.
Disclaimer: This blog post is for informational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.
