Hercules Extends Copper Porphyry Discovery at Southern Flats Zone, Hercules Project, Idaho
Two rigs are working to fill the 1-kilometer drilling gap between Leviathan and Southern Flats.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Hercules Metals (BADEF) extended copper mineralization west of its Southern Flats discovery with a 200 m step-out drill hole at its Idaho project. HER-26-01 returned 286.52 m grading 0.58% copper equivalent, a combined-metal grade, including 65.54 m at 0.80%. Copper grades were 0.43% and 0.61%, respectively.
The company interprets Southern Flats as a potential approximate 1 km southern extension of Leviathan, but continuity remains unconfirmed. Two rigs are drilling HER-26-05 and HER-26-06 to expand Leviathan southward and fill the drilling gap; HER-26-04 assays are pending. HER-26-01 ended in a lower-grade intrusion due to depth, and Leviathan-style copper enrichment has not yet been located at Southern Flats.
Hercules completed its second C$2.0 million Olympus option payment to Barrick Mining entirely in cash. Ownership completion requires further payments, with the final $2 million payment scheduled for 2028.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointHER-26-01 extended Southern Flats mineralization westward with a 200 m step-out.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Olympus ownership plan would give Hercules over 100,000 acres upon the final $2 million payment in 2028.
- Minor pointHER-26-01 returned 286.52 m at 0.58% copper equivalent, including 65.54 m at 0.80%.
- Minor pointLeviathan mineralization spans over 1.35 km in strike, up to 750 m wide and approximately 500 m vertically.
- Minor point. Forward-looking: it has not happened yet and may not happen.Leviathan remains open north, south and at depth, with drilling prioritizing its higher-grade copper enrichment.
4 minor points
- Minor pointTwo rigs are drilling HER-26-05 and HER-26-06 to expand Leviathan southward and fill the gap.
- Minor pointPegasus modelling suggests thinning cover southward and potential mineralization closer to surface.
- Minor pointHook reconnaissance drilling intersected alteration and geological features consistent with a porphyry system’s periphery.
- Minor pointHook is the company’s highest-priority exploration target outside Leviathan; its anomaly begins 100 meters from surface.
Negative
- Moderate pointC$2.0 million Olympus payment was made entirely in cash; additional payments remain before ownership completion.
- Minor pointSouthern Flats–Leviathan continuity remains a geological interpretation across an approximate 1 km extension, not confirmed connectivity.
- Minor pointHER-26-04 assays are pending.
- Minor pointHER-26-01 ended in a lower-grade late-stage intrusion due to depth, limiting further testing.
- Minor pointLeviathan-style copper enrichment has not yet been located at Southern Flats.
2 minor points
- Minor pointSouthern Flats may occupy a down-dropped fault block with increased cover thickness.
- Minor pointPegasus remains largely untested despite a geophysical anomaly extending several kilometers south.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HER-26-01 Intersects
- Potential Southern Extension of Leviathan: 3D modelling suggests the new Southern Flats zone may be an approximate 1 km southern extension, and therefore potentially continuous with, the Leviathan copper porphyry system defined to the north.
- Drilling to Fill the Gap: Assays are currently pending for drill hole HER-26-04. Two drill rigs are currently drilling holes HER-26-05 and HER-26-06, focused on expanding Leviathan to the south and infilling the 1-kilometer gap in drilling towards Southern Flats.
- Significant Scale Potential: Mineralization at both Southern Flats and Leviathan is centered on a large magnetotelluric ("MT") and induced polarization ("IP") anomaly that continues several kilometers south into the largely untested "Pegasus" target. The Hook target 3 km to the east appears to be a parallel structure with a similar geophysical anomaly.
- Vertically Extensive: Drilling at Southern Flats shows strong vertical continuity. HER-26-01 was terminated in a late porphyry intrusion. Mineralization is interpreted to occur on either side of the late porphyry however the hole was terminated due to depth.
- Enrichment Potential: The strong copper enrichment that occurs in the upper portion of Leviathan has not yet been located at Southern Flats, with potential for a higher-grade subzone elsewhere within the target area. Bornite mineralization below the leach cap in 26-01 suggests that this style of mineralization may be present in Southern Flats.
- Shallowing Potential: 3D modelling suggests the cover rocks thin to the south, toward the Pegasus target (see Figure 3 long-section).
Toronto, Ontario--(Newsfile Corp. - September 30, 2026) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) ("Hercules" or the "Company") is pleased to announce that a 200 m step-out drill hole HER-26-01 ("26-01") has extended mineralization west of the Southern Flats discovery hole HER-25-25 (see PR dated May 26, 2026). The Southern Flats zone represents the second copper porphyry centre discovered at the Company's Hercules Project in western Idaho (the "Property") since 2023, when the Leviathan copper porphyry system was initially discovered.
HER-26-01 encountered transitional phyllic to outer potassic alteration, hosting a unique style of porphyry copper mineralization grading:
- 287 m of
0.58% CuEq (0.43% Cu, 158 ppm Mo, 4.0 g/t Ag, 0.03 g/t Au) - incl. 66 m of
0.80% CuEq (0.61% Cu, 89 ppm Mo, 11.3 g/t Ag, 0.04 g/t Au)
Unlike at the Leviathan centre, porphyry intrusions in HER-26-01 appear steeply dipping to subvertical. The hole ended in a lower grade late-stage porphyry intrusion interpreted to be steeply dipping.
Both Southern Flats and Leviathan are interpreted to have been emplaced along a major regional fault structure. MT geophysics shows potential for the same copper porphyry mineralization to continue further along the same structure, into the largely untested Pegasus target.
Geological mapping and drilling indicate that Southern Flats may be located within a "down-dropped" fault block, resulting in increased cover thickness. However, 3D modelling also indicates that cover thickness decreases again to the south, and mineralization may occur closer to surface within the Pegasus Zone.
Ongoing drilling has two rigs focused on the high-priority Leviathan copper porphyry system at 200 m drill spacing. Leviathan's mineralization has currently been traced to over 1.35 km in strike, up to 750 m in width, and approximately 500 m vertical extent. Mineralization remains open to the north, south, and at depth. Assays are now pending for drill hole HER-26-04, while two in-progress drill holes, HER-26-05 and HER-26-06, are expanding Leviathan to the south, infilling a large 1-kilometer gap in drilling between Leviathan and Southern Flats.
An extensive higher-grade copper hypogene enrichment blanket, containing secondary bornite, occurs within the shallowest portions of the Leviathan system. Drilling will continue to prioritize expansion of this high-priority target at Leviathan.
Figure 1: Drill plan showing MT conductivity and IP chargeability targets defining four key zones across the Hercules Property. Warmer colours are more conductive. As part of the current program, drill holes HER-26-04, 26-05, and 26-06 are extending Leviathan to the south and filling a large gap toward newly discovered mineralization in holes HER-25-25 and HER-26-01.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/316699_9805cff36454e9c5_002full.jpg
Figure 2: Cross-section (±250 m, looking north) showing Southern Flats holes HER-25-25 (see PR dated May 26, 2026) and HER-26-01 (this release). Interpreted geology and alteration shown for context. Select samples for silver, lead and zinc in the Jurassic cover were taken from a depth of 611.12 m and continued to the end of the hole, as indicated in the figure above.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/316699_9805cff36454e9c5_003full.jpg
Figure 3: Long-section, facing east, showing the Leviathan copper porphyry system and overlying epithermal silver mineralization, with the new Southern Flats discovery and the largely untested Pegasus target along strike to the south. The section is approximately coincident with the major regional structure along which MT conductivity anomalies are associated with copper porphyry mineralization. The unconformity in red represents the boundary between underlying copper porphyry mineralization and an overlying epithermal silver system.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9425/316699_9805cff36454e9c5_004full.jpg
Chris Paul, SVP Exploration for Hercules Metals commented, "Modern systematic exploration has led to two significant porphyry copper discoveries at Hercules since 2023, and, importantly, has provided us with a repeatable methodology for identifying and vectoring toward new porphyry centres across the district. Our approach begins with district-scale MT surveys at progressively tighter-spacing, followed by deep-penetrating IP surveys to refine discrete targets and, ultimately drill, vectoring toward the centres of new porphyry systems using well-established alteration zoning patterns within the Hercules Project porphyry district.
The Southern Flats discovery provides a proof of concept which can now be applied at other high-priority targets on the Property, including Hook and Pegasus. The first reconnaissance drill hole at the Hook target has already intersected key alteration and geological features consistent with the periphery of a porphyry system. With the anomaly beginning 100 meters from surface, Hook has emerged as our new highest-priority exploration target outside of Leviathan.
To date, systematic exploration has only been applied to approximately
Table 1: Highlight Intervals
| Hole ID | From (m) | To (m) | Interval (m)1 | Cu (%) | Mo (ppm) | Ag (g/t) | Au (g/t) | CuEq (%)2 |
| HER-26-01 | 862.58 | 1149.10 | 286.52 | 0.43 | 158 | 4.0 | 0.03 | 0.58 |
| including | 862.58 | 928.12 | 65.54 | 0.61 | 89 | 11.3 | 0.04 | 0.80 |
Table 2: Drill Collar Location
| Hole ID | Easting | Northing | Elevation | Depth (m) | Azimuth | Dip |
| HER-26-01 | 511250 | 4954900 | 1246 | 1258.82 | 270 | -87.48 |
Olympus Option Payment
The Company has completed its second C
Sample Analysis and QAQC
All drill core samples were prepped at MSA Labs in Elko, Nevada and analyzed at MSA Labs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory. Samples were dried and crushed to 2 mm, from which a 250 g sub-sample split was then pulverized to
Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by procedures ICF-6Ag, ICF-6Cu, ICF-6Pb and ICF-6Zn. The thresholds are 100 ppm for silver, and >
A 50 g split from the crushed and pulverized samples are composited into larger 500 g composite samples (consisting of ten continuous samples) and analyzed for gold utilizing CPA-Au1 photon assay method. Certain material gold results from the composite samples are then selected for re-analysis, by individual sample, as a 30 g fire assay (FAS-111 Method). Gold assays below detection limit are treated as zero values for composite calculations.
MSA Labs employs internal quality control standards, duplicates and blank samples at set frequencies.
Blind certified reference materials (CRMs) and blank samples were systematically inserted by the Company into the sample stream and analyzed as part of the Company's quality assurance/quality control protocol.
For further details regarding holes HER-25-25, HER-26-02 and HER 26-03 including applicable scientific and technical information and cautionary statements, see PR's dated May 26, 2026, June 16, 2026 and September 14, 2026, respectively.
Qualified Person
The scientific and technical information in this press release has been reviewed, verified and approved for disclosure by Dillon Hume, P.Geo. and Vice President, Exploration for the Company. Mr. Hume is a "Qualified Person" for Hercules Metals within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Hercules Metals Corp.
Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) is an exploration Company focused on developing America's newest porphyry copper district, in Idaho.
The
With the potential for significant scale, the Company's management and board of directors aims to deliver value to shareholders through proven discovery success.
For further information please contact:
George Ogilvie
President and CEO
Telephone +1 (416) 723-0458
Email: gogilvie@herculesmetals.com
Alison Dwoskin
VP Investor Relations
Telephone: +1 (647) 233-4348
Email: adwoskin@herculesmetals.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Cautionary Statements Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "anticipated", "appears", "assumption", "believe", "concept", "confidence", "developing", "estimate", "exploration", "focused", "forward", "future", "growth", "if", "indicates", "initial", "intended", "mapping", "may", "modelling", "ongoing", "opportunities", "option", "pending", "plan", "positioned", "potential", "priority", "progress", "project", "suggests", "target", "toward", "untested", "vectoring", and "will", or variations of such words, and similar such words, expressions or statements, that certain actions, events, conditions or results "will," "would," "may," "could" or "should" (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements in this press release include statements regarding: indications, interpretations or suggestions from completed drilling and other exploration programs and other work (including mapping, modelling and similar activities), ongoing, planned or other future drilling or other exploration programs and work (including the objectives or targets therefor, and the targeted, expected or potential results thereof, including any identification and vectoring toward new porphyry centres, any expansion of targets at Leviathan, Pegasus, Southern Flats or Hook, and any openness of the Leviathan system north, south or otherwise; style of mineralization that may be present in Southern Flats, location of Southern Flats within a "down-dropped" fault block and implications thereof (including cover thickness), style of mineralization may be present in Southern Flats, any higher grade sub-zone represented by the Southern Flats, and cover thickness to the south of Leviathan (including increasing, or decreasing or thinning thereof); exploration targets including Pegasus and Hook; scale potential (including at Leviathan and Southern Flats, and magnitude thereof); any extension of Leviathan at Southern Flats or otherwise; Hook appearing to be a parallel structure with a similar geophysical anomaly to Leviathan; and pending or other future assay results.
Although the Company believes the forward-looking statements contained in this press release are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations, information and opinions, which are considered reasonable and represent best judgment based on available facts, as of the issuance of this press release. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions, which may prove to be incorrect, include those contained or incorporated by reference in this press release, as well as those stated in the Company's other public disclosure in 2026, including the prior press releases referenced in this press release, the Company's Management's Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2025 and the quarters already ended and reported in 2026 (collectively, "2026 Disclosure"), available on the Company's website at www.herculesmetals.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements, by their nature, are inherently subject to assumptions, estimates, expectations, opinions, and known and unknown risks, uncertainties, contingencies and other factors, which may cause actual results, activity, performance, developments or achievements, or other future events, to be materially different from any future results, activity, performance, developments or achievements expressed or implied by such forward-looking statements. Examples of such assumptions, estimates, expectations, opinions, risks, uncertainties, contingencies and other factors include those identified herein as well as those associated with general economic conditions; any mineralization at targets (including Southern Flats, Pegasus and Hook), if present, may differ materially from that observed at the Leviathan porphyry system; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; interpretations, indications, expectations and assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, and those set forth in the Company's other 2026 Disclosure, available on the Company's website at www.herculesmetals.com and/or documents filed under its issuer profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those contained in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the issuance of this press release (or as otherwise expressly specified) and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the cautionary statements and/or notes in the Company's other 2026 Disclosure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
1 The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.
2 Copper equivalent (CuEq) for drill intersections is calculated using a three-year trailing average for each commodity, which equates to US
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316699
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What copper grades did Hercules Metals report from HER-26-01 at Southern Flats?
HER-26-01 intersected 286.52 m at 0.58% copper equivalent, including 65.54 m at 0.80%. The broader interval contained 0.43% copper, 158 ppm molybdenum, 4.0 g/t silver and 0.03 g/t gold. The included interval contained 0.61% copper, 89 ppm molybdenum, 11.3 g/t silver and 0.04 g/t gold.
Has Hercules Metals confirmed that Southern Flats connects to Leviathan?
Continuity has not been confirmed; the company’s 3D modelling suggests Southern Flats may be an approximate 1 km southern extension of Leviathan. HER-26-05 and HER-26-06 are being drilled to expand Leviathan southward and fill the 1-kilometer drilling gap toward Southern Flats.