Mr. Peter Dembicki reports
TIER ONE SILVER EXPANDS HIGH-GRADE VEIN FOOTPRINT AT CURIBAYA
Tier One Silver Inc. has expanded the high-grade vein footprint on surface at the Curibaya project in southern Peru. Two new zones of veining have been identified to the northeast and east of a previously sampled vein system with zones measuring approximately 600 metres by 550 m and 250 m by 700 m, respectively. Highlights from the selective rock sampling in these newly identified zones yielded 11 samples over 1,000 grams per tonne silver with a peak assay of 7,220 g/t silver, and 23 samples over one g/t gold with a peak assay of 12.3 g/t gold. In addition, a channel sample from the southern margin of the northeast vein extension yielded a broad interval of 25 m of 47.6 g/t silver equivalent (AgEq). Rock grab highlights and channel sampling results are presented below in the attached tables.
A message from Peter Dembicki, president, chief executive officer and director
"We are very excited to see the high-grade mineralized footprint continue to expand as we progress with the inaugural drill program at Curibaya. The size, scalability and grade in the veins of the footprint are impressive and we believe we have only begun to scratch the surface of the potential at the project.
"Based on the limited drilling to date, we see great potential for an epithermal precious metal system and we believe there is potential for the property to host a porphyry target as well."
Significance of newly identified zones of veining
The newly identified zones of veining continue to expand the footprint of the precious metal system at the Curibaya project to the northeast and east. Additional channel sampling in these newly defined areas of veining (results pending) concentrate on identifying potential high-grade feeder structures that could become future drill targets. In addition, both newly identified zones of veining are in part characterized by alteration boundaries between lower temperature propylitic alteration and higher-temperature argillic alteration. This alteration boundary has not been an exploration focus for the company to date; however, with the high grades encountered the technical team is reviewing other similar alteration boundaries within the project area, particularly along the potential Tipal feeder structure. Finally, the broad zone of mineralization encountered in the channel sampling of 25 m of 47.6 g/t AgEq demonstrates the potential for disseminated mineralization in the newly identified northeast area of veining.
A message from David Smithson, senior vice-president of exploration
"Our technical understanding has increased considerably with the results from our first drill hole into the Curibaya system. We are refining our targeting efforts and drill plans accordingly as we target several high-grade feeder structures across the project area using a combination of geology, geochemistry and geophysics. In addition, we are pleased to have observed high-grade veins in new areas, specifically at the boundaries between propylitic and argillic alteration types, as we continue to work on the project and see further exploration upside."
Michael Henrichsen (chief geologist), PGeo, is the qualified person who assumes responsibility for the technical contents of this press release.
About Tier One Silver Inc.
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The company's management and technical teams have a strong record in raising capital, discovery and monetization of exploration success. The company's exploration assets in Peru include: Hurricane Silver, Emilia, Coastal batholith, Corisur and the flagship project Curibaya, which has commenced its first drill program.
Analytical samples were taken from each one-metre interval of channel floor resulting in approximately two to three kilograms of rock chips material per sample. Collected samples were sent to ALS labs in Arequipa, Peru, for preparation and then to Lima, Peru, for analysis. All samples are assayed using 30-gram nominal weight fire assay with atomic absorption finish (Au-AA25) and multielement four-acid digest ICP-AES/ICP-MS (inductively coupled plasma-atomic emission spectrometry/mass spectrometry) method (ME-MS61). Where MS61 results were greater or near 10,000 parts per million copper, 10,000 ppm lead or 100 ppm silver, the assays were repeated with ore grade four-acid digest method (Cu, Pb, Ag-OG62). Where OG62 results were greater or near 1,500 ppm Ag, the assays were repeated with 30-gram nominal weight fire assay with gravimetric finish (Ag-GRA21). Quality assurance/quality control programs for 2021 channel samples using internal standard and blank samples; field and lab duplicates indicate good overall accuracy and precision.
Approximately two to three kilograms of material was collected for analysis and sent to ALS Lab in Arequipa, Peru, for preparation and then to Lima, Peru, for analysis. All samples are assayed using 30-gram nominal weight fire assay with ICP finish (Au-ICP21) and multielement four-acid digest ICP-AES/ICP-MS method (ME-MS61). Where ICP21 results were greater than three g/t Au the assays were repeated with 30-gram nominal weight fire assay with gravimetric finish (Au-GRA21). Where MS61 results were greater or near 10,000 ppm Cu, 10,000 ppm Pb or 100 ppm Ag, the assays were repeated with ore grade four-acid digest method (Cu, Pb, Ag-OG62). Where OG62 results were greater or near 1,500 ppm Ag the assays were repeated with 30 g nominal weight fire assay with gravimetric finish (Ag-GRA21). Where Ag-GRA21 results were greater or near 10,000 ppm Ag, the assays were repeated with fire assay with gravimetric finish for concentrate (Ag-CON01). QA/QC programs for 2021 rock samples using company and lab duplicates, standards and blanks indicate good accuracy and precision in a large majority of standards assayed.
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