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Tier One Silver Inc. reports exploration developments for its South American mineral exploration business, led by the Curibaya epithermal silver-gold-copper project in Tacna, Peru. Company updates commonly cover diamond drilling, assay results, target generation and exploration permitting at Curibaya, including work in the Cambaya corridors through its Peruvian subsidiary Magma Minerals S.A.C.
Recurring announcements also address community access arrangements, prospective project opportunities in South America, capital-structure matters such as stock option grants, annual meeting voting results, and operating or financial updates tied to the company’s mineral exploration activities.
Tier One Silver announces a private placement offering of up to 15,000,000 units at C$0.10 per unit to raise gross proceeds of up to C$1.5 million. Each unit includes one common share and one warrant exercisable at C$0.20 within 24 months of closing. The warrants have an accelerated expiry clause if shares trade at or above C$0.30 for 10 consecutive days. Proceeds will fund exploration at the Curibaya project and working capital. The offering is expected to close around December 12, 2024, subject to TSXV approval. Securities will have a four-month hold period.
Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) has reported new channel sampling results from its Cambaya I and Cambaya II silver-gold corridors at the Curibaya project. The Cambaya structural corridors, located in the northeast area of the property, represent highly prospective precious metals target areas. Key highlights include:
- Channel samples with grades up to 8,950 g/t Ag and 4.13 g/t Au
- Expansion of the target area by 350m in width
- Cambaya corridors now cover a 1.75 km x 950m area of prospective precious metals zonation
- 48 samples from 10 trenches in Cambaya I (200m x 200m area)
- 53 samples from 17 trenches in Cambaya II (250m x 500m area)
The company believes Cambaya is located in the upper part of the epithermal system due to high-grade precious metal samples and high arsenic anomalies. Tier One Silver plans to conduct a drill program later this year to test the most prolific and prospective targets within Cambaya.
Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) held its Annual General Meeting on August 7, 2024, in Vancouver, with 25.69% of outstanding common shares represented. Shareholders elected six directors: Antonio Arribas, Ivan James Bebek, Peter Dembicki, Jeffrey Mason, Christina Strashek, and Paul Sun, all receiving over 96% approval. Deloitte LLP was reappointed as auditor with 99.72% support. The company's long-term incentive plan was approved by 92.74% of votes, limiting share issuance to 10% of outstanding shares. Currently, 9,930,000 Options have been issued, leaving 7,174,952 Unit Awards available for issuance under the plan.
Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) has resumed exploration activities at its flagship Curibaya project in Southern Peru. The program focuses on three main zones: Cambaya I, Cambaya II, and Zone 1. It includes 2-3 months of field work, sampling, and geological mapping to expand and define potential silver-gold corridors and a porphyry target. Previous channel sampling in Cambaya corridors yielded high-grade results, including 4.5m of 408.2 g/t Ag and 1.48 g/t Au. The company aims to extend both corridors and understand ore shoot geometry. In Zone 1, they will follow up on strong copper signatures and a polymictic breccia with samples up to 1,360 g/t Ag, 42.20 Au, and 6.12% Cu. This work will help delineate drill targets for a planned follow-up program, subject to financing.
Tier One Silver has renewed its social access agreement with the Chipispaya community for its Curibaya project in Southern Peru. The agreement, effective until June 11, 2025, with an option for an additional year, includes commitments to local employment and training. The Curibaya property spans 17,000 hectares and sits on a prime copper porphyry belt, offering high-grade silver and copper exploration opportunities. The company has identified six mineralized corridors and is focusing on enhancing its Cambaya silver target in the upcoming exploration phase. CEO Peter Dembicki emphasized the importance of community support for the project's success and highlighted past initiatives in employment, training, medical supplies, and infrastructure.
On May 29, 2024, Tier One Silver (TSXV:TSLV, OTCQB:TSLVF) announced engagements with Strike Communications and GRA Enterprises to bolster its corporate communications and capital markets strategy. Strike, led by Julia Becker, will offer a one-year term of strategic capital market support starting June 1, 2024, for C$8,500 monthly and 300,000 options at $0.30, vesting over five years. GRA Enterprises will provide six months of media and communication services for US$50,000, starting May 21, 2024, focusing on enhancing company visibility. Both agreements are subject to TSX Venture Exchange approval.
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