Announcement • Jan 08
Tier One Silver to Commence Drill Program At High-Grade, Curibaya Project, in Southern Peru
Tier One Silver Inc. announced that it has commenced preparations to drill the Cambaya target area of its high-grade Curibaya epithermal silvergold-copper project located in Tacna, Peru through its wholly owned Peruvian subsidiary, Magma Minerals S.A.C. The diamond drill program ("Phase 2 Drilling"), which will be the first follow up drilling on the Curibaya project since the Company's successful inaugural drill program was completed in 2021, is targeted to be completed in First Quarter 2026. Phase 2 Drilling is expected to consist of approximately 1,150 metres (m) using one drill rig first targeting the high-grade silver-gold epithermal mineralization defined at surface in the Cambaya area which has not been drilled to date. Summary of Phase 2 Drilling Plans: Initial 1,150 m of diamond drilling in First Quarter 2026 to include seven drill holes from four platforms, with one drill rig and an average depth of 150 m - 250 m per hole. 21CRT-56 - 8 m of 349 g/t Ag, 0.46 g/t Au, including 1 m of 2,680 g/t Ag, 3.14 g/t Au. Phase 2 Drilling Highlights: Top intercepts from the Phase 1 discovery drill program include: 21CUR-016 - 7 m of 272 g/t Ag, 0.,33 g/t Au, including1.5 m of 1,129 g/t Ag, 1.04 g/t Au (Sambalay corridor); 21CUR-006 - 1.5 m of 965 g/t Ag, 0.'26 g/t Au, including one m of 1,431 g/t Ag, 0".39 g/t Au (Madre corridor); 21CUR-009 - 3 m of 350 g/t Ag, 0;47 g/t Au (Tipal corridor); 21CUR-005 - 1 m of 446 g/t Ag, 1.,83 g/t Au (S Ambalay corridor). Phase 2 Drilling is planned to consist of seven diamond drill holes from four platforms for approximately 1,150 m of drilling in first quarter of 2026. Drilling will commence in the Cambaya 1 corridor, which has not yet been drilled. The Cambaya area is composed of two corridors (Cambaya 1 and Cambaya 2) located in the upper part of the epithermal system believed to be the preferred zonation for the silver mineralization discovered to date and more than 250 m higher in topography than the corridors tested in the 2021 Phase 1 drill program. The program aims to test the vertical continuity of mineralization underneath high-grade silver gold channel sampling results in the Cambaya area and test high resistivity (>400 ohm-m) geophysical features that correlates with quartz - silica structures. The program is planned to include scissor holes from multiple platforms, when warranted, to test the geometry of the epithermal structures identified at surface, one of which is a scissor hole below hole 16 (21CUR-016) of the 2021 Phase 1 drill program, which yielded 7 m of 272 g/T Ag, 0.33 g/t Au,including 1.5 m of 1, 129 g/t Ag,1.04 g/t Au interval. All planned Phase 2 drilling is within the permitted area of the Company's current drill permit held through its subsidiary, Magma MineralsS.A.C., which is in place until October 2026 and allows for up to 200 drill holes from 22 drill pads. Subject to initial drill results and additional financing, the Company may look to expand drilling activities in this prospective area in this prospective area. Subject to initial drill results, the Company may look to expanded drilling activities in this prospective area. Phase 2 Drilling plans: Initial 1, 150 m of diamond drilling in first quarter 2026 to include seven (7) drill holes from four (4) platforms, including 1.5 m of diamond drilling in First quarter of 2026 to include seven (4) platforms, including 7 m of first quarter of 2026.5 m of 2026 to include seven ("CUR-016") drill holes from four (4") drill holes from four (7) platforms, including 1,129 g/t Au, including seven (4) platforms, with one drill holes from four (4).
