Tier One Silver to Commence Drill Program at High-Grade Flagship, Curibaya Project, in Southern Peru
Tier One Finally Spuds Cambaya as Silver Momentum Provides Critical Liquidity Window
On January 8, 2026, Tier One Silver announced the commencement of preparations for its Phase 2 diamond drill program at the Curibaya project in southern Peru. The program is specifically targeting the Cambaya area, which has never been drilled before. The plan includes approximately 1,150 meters across seven drill holes from four platforms. This follows a year-end recap (January 2, 2026) and the renewal of a social access agreement with the Chipispaya community (December 16, 2025). The drilling is designed to test beneath high-grade surface channel samples, including a notable sample of 0.5 meters of 9,280.4 g/t AgEq.
The news is material and positive as it marks the transition from capital raising and administrative renewals to active exploration. - Operational Progression: After a difficult mid-2025 where a LIFE financing was cancelled and a director bridge loan was required, the company successfully raised $6.5 million in September 2025. This drilling is the direct execution of that capital deployment. - Target Quality: The Cambaya target sits 250 meters higher in elevation than Phase 1 drilling. Management believes this is more likely to be within the "precious-metal window" of the epithermal system. - Scope Limitation: While positive, the program is modest at only 1,150 meters. This is a "proof of concept" program rather than an exhaustive definition campaign. Success or failure will rest on a very limited number of intercepts. - Permits: The company maintains a valid drill permit until October 2026 for up to 200 holes, meaning they have the legal runway to expand significantly if initial results are favorable.
Tier One Silver is a junior explorer focused on the Curibaya project in Tacna, Peru. The project covers 17,000 hectares in a prolific copper porphyry belt but is being explored for high-grade epithermal silver-gold. - Flagship: Curibaya. - Phase 1 Results (Historical): Included 1.5m of 1,129 g/t Ag and 1.04 g/t Au. - Infrastructure: Accessible by road, located near existing major mines (Toquepala, Quellaveco).