Halcones Precious Metals Corp. announced the commencement of drilling at the Carachapampa project in the prolific Maricunga Belt, Chile. This campaign is designed to follow-up on recent drill successes at the Northwest and Central targets.

The exploration camp and diamond drill were mobilized during the final two weeks of September, and the first hole was collared on October 2, 2023. Highlights of the previous drill campaign, which will be followed up, includes: Hole CAR23-008 returned 1.09 g/t Au and 17.35 g/t Ag over 11 m from 81 m down hole at the Central Target, including 1.53g/t Au and 27.82 g/t Ag over 6 m. Hole CAR23-012 returned 2.75 g/t Au and 20.94 g/t Ag over 10 m from 79 m down hole at the Northwest Target. This is part of a broader mineralized interval of 1.3 g/t Au and 11.73 g/t Ag over 24 m from 73 m down hole.

Since the completion of the previous drill campaign in March of 2023, the Halcones exploration team and contractors have completed 180 colluvial sediment samples over a 100m x 100m grid over the two priority target areas. Additionally, 16-line km of induced polarization geophysical surveying was completed over the two target areas. The Company intends to initially focus on the Northwest target in the upcoming campaign before moving to the Central target.

Important pathfinder elements have been identified in soils in the vicinity of hole CAR23-012 with elevated antimony and arsenic levels. The elevated pathfinder element concentrations coincide with a recently expanded resistivity high in the same location. The colluvial sediment sampling program and the increased IP coverage along with the excellent initial drill results refined the targeting for the upcoming drill program.

Halcones initially intends to drill three holes on the Northwest target and two at the Central target. Target hole depth ranges between 200 and 300 metres. The program may be modified and expanded based on success.