andCopperSilverStriking...and...more
WRITTEN BY Laura Watling PROJECT DIRECTED BY Gary Smith 2 Issue 107 · Business Enquirer Magazine
It’s clear Tier One has the support of the local community, as the company’s first drill pro gramme at its Curibaya project was blessed with a traditional Peruvian religious ceremony in the summer of 2021.
“The ceremony was an amazing, humbling experi ence, and I’m proud that we have been able to show the local people the value that this project could po tentially have for their community,” shared Peter.
The mining exploration company’s flagship project, Curibaya, spans around 16,800 ha. The property sits within one of the world’s most pro lific copper porphyry belts, which hosts some of Peru’s largest porphyry deposits. These in clude Freeport McMoRan’s Cerro Verde deposit, Southern Copper’s Cuajone and Toquepala de posits and Anglo American’s Quellaveco deposit.
President and CEO Peter Dembicki shares the exploration company’s unique story with Business Enquirer. “Mineral exploration in Peru is exciting but you have to approach it with care and tact,” shared Peter, “it’s quite straightforward to get the required government permits. What is integral, and more complex, is ensuring that the local communities are on board”.
Business Enquirer Magazine · Issue 107 3
A Geologist’s Dream Find
Tier One Silver
is a junior mining exploration company exploring for new, large-scale precious and base metal deposits in Peru - with some already exciting and unexpected discoveries.
Tier One also employs a Community Liaison Of ficer, whose role it is to understand which com munity projects would benefit the local people.
TierandCopper...Silver...StrikingandmoreOneSilver
The company has two main exploration focuses, including their flagship project Curibaya, where Tier One has discovered record-breaking mineral grades.
“This could be agriculture or infrastructure projects, anything that will improve the livelihood of those in the local community,” he said.
To fulfill this, Tier One pays keen focus to its so cial responsibility, with appreciation that the mining sector makes up 40% of the country’s GDP. “We employ a lot of people locally in Peru, includ ing geologists from the area. They can provide key insights about the regions, the communities, and governments. Their understanding and in-country connections have played a key role in the success of all stakeholders thus far,” explained Peter.
Tier One Silver
Rock and channel sampling has found that the silver in this particular area is extremely highgrade. “What we’ve found at Curibaya is phenome nal,” said Peter, “the samples have returned grades of up to 298,000 g/t silver and 934 g/t gold. That substantially surpasses bonanza grade”. Another staggering find for the company is that beneath the silver system is the potential for an exponential amount of unmined copper.
Despite its location, Curibaya had never been drilled before, and now Tier One is preparing for its second phase of drilling after a successful first phase that demonstrated that the grades found on surface do in fact extend to depth.
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Tier One has identified the age of mineralisa tion at Curibaya to be Paleocene, ranging from 55 to 61 million years. This is equivalent to several world-class deposits in the southern Peru por phyry belt, including Quellaveco (Anglo Amer ican), Toquepala (Southern Copper Corp.) and Cuajone (Southern Copper Corp.). “This is a remarkable find, particularly for the major drilling companies that may seek to mine the prop erty,” said Peter, “It’s a geologists dream to en counter a silver system resting on or nearby a large copper porphyry, as any major mining company would factor in the ability to recover the silver whilst pursuing the copper porphyry”. What’s more, despite a typical silver mine having a mine life of 15-20 years, copper deposits can generally be mined for up to 100 years. “We are working with world-renowned consultants to identify where we should explore next at Curib aya. Our technical team believes there is an oppor tunity to find additional sub-horizontal bodies of mineralisation, too”. This is a remarkable find, especially for the major drilling companies “ “
ResourcesFeature Issue 107 · Business Enquirer Magazine 5
DRILLING ■ Diamond drill (DDH) ■ Reverse air circulation (RC) ■ Underground mining services GEOTECHNICS AND HYDROGEOLOGY ■ Geotechnical Drilling ■ Installation of piezometers ■ Studies and trials of SPT, Lugeon, etc. ■ Concrete injection (Grouting) BOREHOLE MEASUREMENTS AND CORE GEOLOGICALORIENTATIONANDMINING ■ Sample collection at the mine site ■ Topographic survey of the samples ■ Logging, cutting and sampling of cores ■ Geological and geophysical surveys PERU OFFICE Calle Juan Chávez Tueros 1205 Lima, Perú (+511) 517 8523 / (+51) 989 117 388 ECUADOR OFFICE Calle 25 de Julio Nº 13, Mz. 2221 Guayaquil - Guayas, Ecuador Calle Crisantemos y Calle Anturios Barrio Los Geranios, Loja, Ecuador (+593) 988 878 520 / (+51) 985 800 051www.gygperforaciones.pe FOLLOW US ON: With more than 500,000 meters drilled and 15 years that support us in Peru and Ecuador. OUR SERVICES
Tier One’s Hurricane Silver project is located in an underexplored region in southeast Peru and expands around 30,000 ha.
“The uptake of EVs is a fantastic step forward to re duce carbon, but the batteries and materials require a mined product. Our current and future societies are dependent on metals to function. Meanwhile, an exploration company’s carbon footprint is relatively light, needing only the basics to function”
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Having made such significant progress, Tier One’s team is looking forward to preparing tar gets for their second phase of drilling and explo ration.
Exciting Assets
Changing Perceptions
The exciting discoveries don’t stop at Curibaya.
For investors, Tier One offers two strong explo ration swings with Curibaya and Hurricane Sil ver. “I’ve seen no other exploration company with the same potential,” shared Peter.
“Peru offers the perfect mix. The government and the people are on board, whilst, as a country, it also remains largely unexplored,” he said.
The challenge for the business, Peter believes, is changing the perception of mining, at both a cor porate and social level.
“We aim to have 20 strong silver focused targets to drill. We are currently being very methodical about gathering high priority drill targets to minimise the exploration risks,” shared Peter, “along with this, we plan to test the potential for a copper porphyry deposit, so prior to drilling we are refining our geo physical surveys”.
In June 2022, the company was granted access to explore the northern area of Hurricane Silver.
“Metals such as nickel and cobalt are in high de mand, particularly with the growing uptake of elec tric vehicles. We have about a year of work to do before we can initiate drilling on this site, but it is already looking to be a really exciting asset,” said Peter.
“From a socio-economic perspective, it’s important that we educate on mine reclamation. With today’s high environmental standards, a producing mine can return the land to its original state and give it back to the earth once the project has been complet ed. There aren’t many industries that can actually do that,” explained Peter. “It’s also crucial that we continue to place importance on community rela tions, which is why we have our Community Liaison Officer”. Peter also highlighted the importance of educat ing the public’s understanding of metal require ments.
Despite Peru’s volatile politics (its seen five pres idents in five years with a sixth on the way), Peter describes politics in the nation as a short-term game, whilst mining is long-term.
Tier One Silver
Once again, not only did the team discover sig nificantly high-grade silver, but also copper, co balt and nickel at an exceptional grade.
An important element of Peter’s role as CEO, he believes, is to set an example - both as an indi vidual and as a business.
8www.tieronesilver.com
Issue 107 · Business Enquirer Magazine
Peter notes that any future buyers of Tier One’s projects will undoubtably take into account the reputation of the business. As such, he considers it key to ensure he has an open door and allows everyone’s voices to be heard. “Tier One is nothing without its people,” Peter shared, “we are the sum of all our parts”.
A Sum Of All Its Parts
Tier One Silver
“The metals have been there for 50 million years,” he said, “as an exploration business we have a re sponsibility to maintain the integrity of the land and respect all involved parties while working to produce a mutually beneficial result”.
Resources Feature Tier One is nothing without its people... we are the sum of all our parts. “ “ Issue 107 · Business Enquirer Magazine 9
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