Tier One Silver's 'once in a lifetime' Peru project
Tier One Silver (TSX-V: TSLV) gets lots of affirmation from its neighbors.
The company's co-founder Ivan Bebek and CEO Peter Dembicki spoke to Kitco on Thursday.
The company's Peru project, Curibaya, comprises of approximately 11,000 hectares situated in a copper porphyry belt that hosts some of Peru's largest porphyry deposits, including Freeport McMoRan's Cerro Verde deposit, Southern Copper's Cuajone and Toquepala deposits and Anglo American's Quellaveco deposit.
The company is funded to drill 10,000 meters and the initial phase of diamond drilling will consist of approximately 6,000 m. Several of the planned holes will test multiple targets in each hole, including near-surface flat-lying mantos viens, high-grade feeder structures and a strong chargeability anomaly at depth which may be associated with a disseminated style of mineralization and a potentially mineralized intrusion at depth.
Bebek said the system is a once-in-a-lifetime opportunity.
"[It] wasn't enough, we have this huge magnetic anomaly that starts at about 500 meters depth, and we're on a porphyry belt. The magnetic anomaly would indicate the potential for a porphyry system. You won't know it until you drill it, but in this case, we have the chance not only to have a huge precious metal system, but it might sit on or beside a world-class porphyry," said Bebek.
"So truly a once in a career for me. I've been doing this for 21 years, and I have not seen this type of bonanza grades of silver and gold over top of a target that has 700-plus meters of vertical targeting in chargeability--truly once in a lifetime."