08:42 AM EST, 02/05/2025 (MT Newswires) -- Halcones Precious Metals (HPM.V), whose shares soared 50% on Tuesday, reported Wednesday results from the first field program at the Polaris gold project in Chile.

Results from surface outcrop chip channel samples include 20.05 grams per tonne (g/t) gold, 13.08 g/t gold, 8.54 g/t gold and 6.67 g/t gold.

The company said it has expanded the initial sample area that contained multiple high grade surface samples.

"The extensive gold in stockwork is particularly encouraging as it demonstrates the potential for a large-scale bulk tonnage deposit at Polaris," said Ian Parkinson, CEO and director of Halcones.

Halcones said it continues sampling and mapping work, with the goal of prioritizing targets to be drilled later this year.

"It is rare to see such broad scale gold mineralization at surface," Parkinson said. "Many of the samples are not obviously mineralized other than the presence of fine stockwork fractures and veinlets that appear to carry the gold."