Hercules Metals
Hercules Metals Corp. is a pre-revenue Canadian mineral exploration company advancing the Leviathan porphyry copper-silver system at its 100%-owned, 100,000+ acre Hercules Project in Idaho, with the goal of supplying domestic U.S. copper for electrification and clean energy markets.
- Company typePublic
- Founded2021
- HeadquartersToronto, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Hercules Metals does
Hercules Metals Corp. (TSX.V: BIG, OTCQB: BADEF, FRA: C0X; formerly Hercules Silver Corp.) is a Canadian-domiciled, publicly traded mineral exploration company headquartered in Toronto with operational activity centered on its flagship Hercules Project in Washington County, Idaho. The company was formed in 2018 (with the Hercules Project acquired in 2021) and is led by CEO Chris Paul, a geologist with 15+ years of exploration and capital markets experience. The company controls over 100,000 acres of mineral rights across the Olympus Belt, including 74,000+ acres consolidated through a strategic option agreement with Barrick Gold Exploration Inc. completed in August 2025.
The company's core asset is the Leviathan porphyry copper system, discovered in late 2023 (discovery hole HER-23-05: 185m of 0.84% Cu and 111 ppm Mo). Subsequent drilling has returned broad porphyry copper intercepts including 787.9m of 0.54% CuEq and 177m of 0.66% CuEq at the Southern Flats zone, with metallurgical testing confirming conventional flotation recoveries of approximately 90% copper and 82-86% silver. The company's exploration technology stack combines large-scale (>100 sq km) magnetotelluric (MT-NSIP) and induced polarization (IP) geophysical surveys, a proprietary 2025 3D geological model of the Leviathan system, and systematic diamond drilling on 200m centers. Drilling scale has escalated from 6,000m (2023) to 20,000m+ (2025), with 20,000-30,000m planned for 2026.
Hercules is a pre-revenue exploration company with no operational product sales. Capital is sourced through equity financings, including C$15M (July 2025), C$17.25M (March 2026, with Barrick participation), and C$23.2M (May 2026, bought deal). Strategic value derives from the optionality of advancing the Leviathan deposit toward a maiden resource estimate and eventual copper-silver concentrate production to domestic U.S. smelters and refiners serving electrification, data center, and clean energy end markets. The company is led by Chairman Matthieu Bos (formerly EVP Africa at Ivanhoe Mines, instrumental in the Kamoa-Kakula development) and supported by technical advisors with major porphyry discovery track records.
Hercules Metals firmographics
Firmographics- Name
- Hercules Metals
- Legal name
- Hercules Metals Corp.
- Website
- https://herculesmetals.com
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Hercules Metals Corp. is a pre-revenue Canadian mineral exploration company advancing the Leviathan porphyry copper-silver system at its 100%-owned, 100,000+ acre Hercules Project in Idaho, with the goal of supplying domestic U.S. copper for electrification and clean energy markets.
- Ownership category
- akta.pro rank
Hercules Metals industry classification
Industry- Product category
- Mining Exploration
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (212220)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040)
- akta.pro primary industry
- Copper Exploration & Resource Development (IMAKADAA)
- akta.pro secondary industries
- Precious Metals Exploration & Project Development (IMAKAEAI), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
Keywords
Where Hercules Metals is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Hercules Metals business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Mineral Production: Pre-revenue exploration company. Future revenue will come from copper and silver production through mining operations once a resource is established and developed. Metallurgical testing confirms conventional flotation processing with projected copper recoveries of approximately 90% and silver recoveries of 86% for oxide and 82% for sulfide mineralization.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
Hercules Metals product offering
Product offeringCore offering
Hercules Metals is a mineral exploration company focused on the exploration and development of the Hercules Project in western Idaho, a large-scale disseminated silver-lead-zinc system hosting the Leviathan porphyry copper discovery. The company acquires mineral rights, conducts systematic diamond drilling and modern geophysical surveys, and consolidates land positions (100,000+ acres across the Olympus Belt) with the goal of defining a maiden copper-silver resource and future production.
Product overview
Hercules Metals is a mineral exploration company with two main projects: the flagship Hercules Project hosting the newly discovered Leviathan porphyry copper system, and the Mineral Project located 14 miles southwest. The Hercules Project encompasses over 100,000 acres of mineral rights in Idaho and is positioned as America’s newest porphyry copper belt. The company conducts systematic exploration drilling programs to define and expand copper and silver mineralization.
Differentiator
Problem solved
Functional benefit
Products and services
- Hercules Project Flagship 100%-owned porphyry copper and silver exploration property located northwest of Cambridge, Idaho, hosting the Leviathan porphyry copper system (discovered late 2023) and encompassing over 100,000 acres of mineral rights across the Olympus Belt, with a large-scale disseminated silver-lead-zinc system spanning over 5.5 km of strike.
- Mineral Project Secondary exploration project located 14 miles southwest of the Hercules Project, comprising 87 unpatented lode mining claims on BLM lands with rhyolite-hosted silver-copper-lead-zinc mineralization in the south and porphyry copper-gold style mineralization in the north.
- Leviathan Porphyry Copper System Newly discovered porphyry copper system within the Hercules Project, characterized by copper, molybdenum, and silver mineralization and considered one of the most important copper discoveries in the region, with systematic definition drilling targeting a high-grade core and a maiden resource estimate.
Quantifiable outcome
- Drill intercept: 787.9m of 0.54% CuEq at Leviathan (June 2026)
- +5 more outcomes
Companies that use Hercules Metals
Customer profileSegments1 record
Ideal customer profiles1 record
Hercules Metals technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Hercules Metals partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and major.
- Equity Exploration Consultants Ltd.coreEngaged to manage drilling operations at the Hercules Property as part of expanded 2026 exploration campaign. Expected to enhance operational capacity and improve drilling efficiency.
- Simcoe Geoscience Ltd.majorRetained to conduct reconnaissance 2D induced polarization survey over Pegasus and Hook targets, following up on magnetotelluric surveys completed in 2025.
- Dorado Drilling USAmajorAwarded 2026 drill contract for expanded drilling program at the Hercules Property. Mobilized to support increased drilling operations.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
Hercules Metals competitors and assessment
Company assessmentDirect peers
- Arizona Sonoran Copper: Pre-feasibility stage US copper developer focused on the Cactus Mine Project in Arizona. Closest direct peer in geography, commodity focus (porphyry copper), and pre-resource development stage.
- Ivanhoe Electric: US-focused copper exploration company spun out of I-Pulse using proprietary Typhoon geophysical technology. Comparable as an American copper explorer using advanced geophysics and backed by Robert Friedland.
- Western Copper and Gold: Developer of the Casino porphyry copper-gold project in the Yukon. Comparable as a large-scale porphyry copper-gold developer at pre-construction stage with a defined resource.
- NGEx Minerals: Explorer-developer of the Los Helados and Lunahuasi copper-gold porphyry systems in South America. Comparable as a high-grade porphyry copper-gold explorer with multi-rig drill programs and major backing.
- Solaris Resources: Explorer of the Warintza porphyry copper system in Ecuador. Comparable as a discovery-stage porphyry copper explorer with Tier-1 backing (Equinox Gold/Christy family) and a similar newsflow-driven equity story.
- Aldebaran Resources: Explorer-developer of the Altar and Rio Grande porphyry copper-gold projects in Argentina. Comparable as a porphyry copper-gold explorer at resource-definition stage with major shareholder support.
- Highland Copper: Copper developer with the White Pine North project in Michigan and Copperwood in Wisconsin. Comparable as a North American-focused copper developer at pre-construction stage.
Broad incumbents
- Hudbay Minerals: Mid-tier copper-gold producer operating in Canada, Peru, and the US. Comparable as a copper-focused operator with active exploration in the Americas and the ability to acquire or partner on development-stage assets like Hercules.
- Barrick Mining Corporation: World's largest gold miner and a top copper producer (Lumwana, Zaldivar, Jabal Sayid, Reko Diq). Barrick is Hercules' largest strategic investor and option partner, making it a comparable incumbent and the most likely acquirer.
- Freeport-McMoRan: Largest US-listed copper producer operating Grasberg, Morenci, and other large porphyry copper mines. Comparable as the benchmark US copper producer with strategic interest in domestic critical minerals supply.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Hercules Metals social profiles
Digital presenceHercules Metals financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hercules Metals leadership team
Management profileNumber of profiles
Profiles9 records
Hercules Metals subsidiaries and ownership
Company hierarchySubsidiaries1 record
Hercules Metals funding detail
Funding detailFunding overview
Funding rounds7 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hercules Metals M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hercules Metals
What does Hercules Metals do?
Hercules Metals is a mineral exploration company focused on the exploration and development of the Hercules Project in western Idaho, a large-scale disseminated silver-lead-zinc system hosting the Leviathan porphyry copper discovery. The company acquires mineral rights, conducts systematic diamond drilling and modern geophysical surveys, and consolidates land positions (100,000+ acres across the Olympus Belt) with the goal of defining a maiden copper-silver resource and future production.
Is Hercules Metals a public or private company?
Hercules Metals is a public company. It is classified as public and is currently operating.
When was Hercules Metals founded?
Hercules Metals was founded in 2021. It employs 1 to 10 people.
Where is Hercules Metals based?
Hercules Metals is headquartered in Toronto, Canada, in the North America region.
How does Hercules Metals make money?
One revenue line is on record: mineral Production.
Who are Hercules Metals's main competitors?
Direct peers on record are Arizona Sonoran Copper, Ivanhoe Electric, Western Copper and Gold, NGEx Minerals, Solaris Resources, Aldebaran Resources and Highland Copper. Broad incumbents are Hudbay Minerals, Barrick Mining Corporation and Freeport-McMoRan.
Does Hercules Metals have an API?
No public API is recorded for Hercules Metals.
What industry is Hercules Metals in?
Hercules Metals's product category is Mining Exploration. Its primary akta.pro industry code is IMAKADAA, Copper Exploration & Resource Development, with a secondary code of IMAKAEAI, Precious Metals Exploration & Project Development. Its NAICS code is 212230 and its SIC code is 1000.