The reason Hercules Silver (TSXV: BIG) is suddenly worth $265 million (including Barrick's newly announced investment into company) after rising by 557.14% in two months is simple...
BIG tested an IP-chargeability anomaly below the limits of historical drilling at its Hercules Silver Project in Idaho. This resulted in the discovery of a major blind copper porphyry system in the first ever deep drill hole on the property, HER-23-05, which intersected 185m grading 0.84% Cu, 111 ppm Mo and 2.6 g/t Ag.
Information on BIG's IP-chargeability anomaly was known last December (click here to see for yourself) but nobody cared, and the stock had an insanely low market cap similar to North Peak Resources (TSXV: NPR)'s insanely low market cap today.
NPR has acquired one of the highest-grade past producing gold, silver, lead and zinc mines in Nevada history, but it has never been drilled at depth below the historical workings.
NPR is drilling right now targeting a 2-km long conductive anomaly, located directly beneath the gold, silver, lead and zinc historical stopes of the Diamond mine, which was located by the helicopter magnetotelluric (MT) survey carried out in June. A comprehensive gravity survey and drone based magnetic survey followed in July and August and the results of these two surveys were used to help develop the exploration model and drill targets.
NPR's Induced Polarisation (IP) survey carried out in September yielded a very strong chargeability IP anomaly that overlaps and extends upwards from the MT anomaly into the old workings area giving strong support to the MT anomaly.
A market cap for NPR of $265 million would value NPR at $8.83 per share!
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