Supply Chain Safety: Western Powers Race for Domestic Mineral Sovereignty

The most recent news (February 4, 2026) reports significant diamond drilling results from the Leviathan porphyry system in Idaho. Hole HER-25-15 intersected 420.62 meters of 0.60% copper, including a higher-grade core of 112.78 meters at 1.38% copper. Furthermore, Hole HER-25-17 returned 585.22 meters of 0.39% copper. The company has identified five discrete high-conductivity centers via a Phase II MT survey and has already signed a 2026 drill contract with Dorado Drilling USA. Management has initiated discussions for an "order-of-magnitude" study, a precursor to a maiden mineral resource estimate (MRE).

The news is Material - Positive for several reasons: - Grade and Scale Continuity: Intersecting over 400 meters of 0.60% Cu (with a 1.38% Cu sub-interval) confirms that the Leviathan system possesses the grade and thickness required for a significant Tier-1 potential discovery. - Model Validation: These results validate the company's 3D geological model, which shifted drilling to a northwest orientation in 2025. The "hit rate" has improved significantly since this pivot. - District Expansion: Identifying five new conductive centers suggests the system is much larger than the currently tested 20%. - Path to Development: Moving toward an order-of-magnitude study indicates the project is transitioning from pure "wildcat" exploration to a more structured development phase.

Hercules Metals Corp. (formerly Hercules Silver) focuses on the Hercules Property in western Idaho. Originally a silver prospect, the 2023 discovery of the Leviathan porphyry system transformed it into a major copper-molybdenum-silver play. The project benefits from "telescoping," where a high-sulfidation epithermal system overprinted a porphyry, significantly upgrading the copper grades (hypogene enrichment). The property now covers over 100,000 acres following a major consolidation deal with Barrick Gold.