REPEAT - Halcones Reports up to 17.2 g/t Gold in Outcrop Samples From New Target Area at Carachapampa Project in Chile

TORONTO, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Halcones Precious Metals Corp. (TSX – V: HPM) (the “Company” or “Halcones”) is pleased to announce assay results from the initial 2022 exploration program at its Carachapampa project (“Carachapampa” or the “Project”), Chile. Field mapping and rock sampling were carried out in September, towards the end of the South American winter and crews were successful in identifying well mineralized zones in outcrop at several locations on the Project.

Highlights include:

• A new highly prospective target area has been identified by the Company’s field program. Well mineralized and strongly silicified (vuggy quartz textured) structures have been discovered adjacent to a previously unidentified volcanic dome. Presence of volcanic domes are essential to development of the high sulfidation gold deposits in this region.
• At least four structures characterized by intense vuggy silica alteration were identified initially, with gold values in bedrock samples of 17.2 g/t Au, 8.93 g/t Au, 4.2 g/t Au, 3.6 g/t Au and 1.43 g/t Au. This sampling is based on limited exposure due to young volcanic cover in the area and as well was hampered by intermittent snow cover when work was done. More detailed mapping and sampling is in progress on this new target presently.
• The structures have been mapped for at least 600 metres along strike and across strike for more than 200 metres. Mapping is ongoing presently to identify additional structures as well as to look for windows where the rocks between the structures may be exposed through the cover of younger volcanics in the area.
• Drill hole 003 which was drilled previously appears to have collared on the side of the newly identified volcanic dome and intercepted 54 m grading 0.32 g/t Au including 20 m grading 0.56 g/t Au. This hole was drilled prior to the mapping and does not intersect the mineralized structures but is an indication of a highly anomalous and wide section of mineralization associated with the flank of the dome. The hole is approximately 1.5 km northeast from the mineralized samples.
• A second area approximately 1 km north and still on the flank of the dome returned samples with 2.5 g/t Au and 65 g/t Ag on highly silicified, vuggy quartz altered structures as well.
• One sample from the northeast target area which occurs approximately 2.8 km northwest of this new target area had a grade of 548 g/t Ag.

According to Vern Arseneau, COO of Halcones, “The initial field results are highly encouraging. Given the limited time the crews had in the field in the late winter, the discovery of the previously unmapped volcanic dome and associated vuggy silica alteration hosting significant gold mineralization over what appears to be an extensive area is an excellent outcome. Now that the weather has improved as Andean summer has commenced, the crews are back in the field to follow up on the initial discoveries with detailed sampling and mapping in preparation for drill testing in the coming months.”