Hercules Metals Expands Idaho Copper Claims via Barrick Deal

Hercules Metals has entered into a strategic option agreement with Barrick Gold to consolidate over 100,000 acres in Idaho's Olympus copper belt, significantly expanding its land position around the Leviathan porphyry copper discovery. This deal allows Hercules to earn a 100% interest in more than 74,000 new claims, while Barrick increases its equity stake in Hercules and secures a 1% net smelter return royalty, most of which Hercules can buy back later. The consolidation aims to streamline exploration and position Hercules as a leader in district-scale copper exploration, a critical mineral essential for U.S. economic and technological resilience amid global supply chain challenges. The Leviathan system shows evidence of rare copper-silver enrichment, making it a key target in the U.S. strategy to reduce reliance on foreign copper imports. Despite the positive long-term outlook, Hercules shares fell nearly 6% following the announcement as investors considered the immediate costs and dilution. The partnership highlights growing confidence from major players like Barrick in western Idaho's potential to become a major mining hub.