Geological Analysis — Hackberry Silver Mine

Deposit Type — Epithermal Ag/Au System

The Hackberry deposit is a structurally controlled, high-grade epithermal vein system — the same geological setting responsible for the world's greatest silver mines including Fresnillo (Mexico), Coeur d'Alene (Idaho), and Creede (Colorado). The silicified zone identified in drill hole hb1701 confirms hydrothermal fluid circulation deposited silver, gold, platinum, and palladium as they cooled. This is not a disseminated, low-grade system.

A porphyry dyke intrusion identified across multiple holes is the heat source driving the hydrothermal circulation — explaining why Hackberry has 9+ valuable metals, not just silver. As metal-rich fluids migrated outward, they deposited different metals at different depths: silver and gold near surface, copper and molybdenum at depth, scandium and PGMs in associated zones.

Drill Results

Drill Holes

5

of 240 acres tested (~2%)

Peak Intercept

19.4 oz/t

667 ppm Ag @ 141.4m

Avg Vein Width

1.94m

6 ft 4.75 inches

Avg Depth

609 ft

across all 5 holes

Hole	Width	Depth	Notes
hb1701	3.21m	141.4m	Peak 667 ppm · 19.4 oz/ton
HB-02	0.97m	185m	Moderate grade Ag + base metals
HB-03	0.99m	198m	Narrow high-grade Ag intercept
HB-04	6.52m	185m	Widest · Polymetallic Ag+Pb+Zn
HB-05	0.74m	225m	Deepest · Confirms continuation

"High grade" silver mine defined at 5–8 oz/ton. Hackberry peak = 2–4× above threshold.

Historical Production — 1878 Bullion Record

May 1878 · First 26 Days of Milling

$30,349.66

2026 equivalent: ~$1.1M · Grade: 350+ oz/ton (10,000+ ppm) — 18× higher than current drill peak

The original company bullion book, page 10, records four shipments from the Howell furnace mill. The mill operated under director John Howell using 1878 technology — no modern processing methods. Four shipments were recorded in the first 26 days: $6,071.58 (May 5), $6,372.69 (May 12), $5,821.80 (May 16), and $12,083.68 (May 26). Total: $30,349.66.

Exploration Potential

The 2023 technical report identifies three exploration targets:

Target A

South Hackberry extension

High-grade zone trends SSE beneath thick colluvium. Untested down-dip.

Target B

North Hackberry extension

~400m NW of main mine. Weak surface geochem suggests deep target.

Target C

Northern vein system

~800m NW. Vein breccia lenses. Above intermediate precious-metal sulfide zone.

4+ mile trend

Unexplored structural corridor

Entire strike length untested by modern drilling.

Conceptual exploration targeting only. The potential quantity and grade of any exploration target described or depicted here is conceptual in nature. There has been insufficient exploration to define a mineral resource in the targeted areas, and it is uncertain whether further exploration will result in any target being delineated as a mineral resource.