Exploration company Tier One Silver (TSXV:TSLV) began trading on the TSX Venture Exchange on June 9, 2021, under the ticker TSLV. Spun out from Auryn Resources in October 2020, the company is exploring assets in Peru for silver, gold, and base metal deposits. While maintaining its mission of generating shareholder value, the company is also committed to the shared value that comes from implementing sustainable and responsible development and mining practices.
The pillars of the company’s environmental, social, and governmental (ESG) principles include health and safety, the protection of ecological and cultural heritage resources, social responsibility, as well as indigenous and local community engagement. Tier One Silver (TSXV:TSLV) is taking those principles into account at every one of its exploration assets in Peru, including Hurricane Silver, Emilia, Coastal Batholith, Corisur, and its flagship silver-gold project, Curibaya.
A True Flagship Property
The Curibaya property spans almost 11,000 hectares in a copper porphyry belt with some of the country’s largest porphyry deposits. Major mining companies are in the pophyry-rich area, including Freeport McMoRan, Southern Copper, and Anglo-American. The belt has returned high mineralization, and the deposits being within the same region, there is robust transportation and operational infrastructure in place, with easy access at multiple points. Located just 48 km north-northeast of the provincial capital Tacna, the property is accessible by road in just 1.5 hours.
Initial surface sampling programs have already returned multiple high-grade samples of silver, gold, and copper over a 4×5 kilometre alteration system. Although in its early stages, Tier One Silver (TSXV:TSLV) believes the Curibaya property holds precious metal intermediate sulfidation, epithermal, and copper porphyry targets.
Last week Tier One received a Peruvian Inicio de Actividades permit, which authorized the company to begin the inaugural drill program at the property. The authorization signals the end of the permitting process with MINEM, the Peruvian mining regulator, and the go-ahead for the company’s drill program at this significant flagship project.
Yesterday, the company announced that it had begun the first-ever drill program at the Curibaya property. Tier One Silver’s balance sheet is strong and is well-capitalized for a drilling capacity of 10,000 metres, with the initial phase of diamond drilling consisting of approximately 6,000 metres. Tier One Silver (TSXV:TSLV) holds an FTA (Ficha Tecnica Ambiental) drill permit), allowing the company to drill up to 40 holes from 20 drill pads. The drill plan includes about two kilometres by 1.5 kilometres in an area with strong alteration and high-grade surface mineralization. As the flagship project for the company, Curibaya is an excellent opening salvo to show the world and investors what it can do.
Peter Dembicki, President and Director of Tier One Silver, commented: “This is an exciting time for Tier One Silver shareholders as we begin diamond drill exploration at Curibaya – a project we feel has world-class potential due to its scale, exceptional high-grade silver and gold identified on surface over a significant area and the project’s location on a globally recognized prolific mining trend in Southern Peru. The detailed drill preparation completed by our technical teams will allow us to test multiple targets with each hole. This is the culmination of years of work at Curibaya by our team in Peru, and we couldn’t be more excited to test and gain an understanding of what we believe could prove to be a significant discovery.”
Expanding Tier One’s Reach, and Investor Options
Due to the success of the company’s listing on the TSX Venture Exchange, Tier One Silver (TSXV:TSLV) is also applying to list on the OTCQB Venture Market. This is a significant step for Tier One toward increasing its visibility within the U.S. capital markets. If listed on the exchange, the company will continue to trade on the TSXV. A listing on the American exchange would provide the company with greater exposure to the market and a platform to launch more drill programs and exploration as it raises more money.
After just over a week on the TSXV, the company has hit an average trading volume of 660,830 and a market cap of $193.7 million, foreshadowing a run of investor interest in the company that could propel its projects far into the future. As exploration continues, investors will be watching Tier One Silver (TSXV:TSLV) closely for continued progress, particularly at the Curibaya site.