Bayhorse Pours First Refined .9999 Fine Silver Bar From Bayhorse Silver Mine Mineralization, Oregon, USA
BHS2019-05 February 23, 2019
Bayhorse Silver Inc., TSX-V: BHS (“Bayhorse” or the “Company”) is pleased to report that Mineral Solutions LLC, (Minerals) of Coeur d Alene Idaho, has produced the first refined silver from the high grade silver mineralization shipped to them for processing from the Bayhorse Silver Mine, Oregon, USA.
Producing this first bar, containing 37.69 ounces (1.172 kg) of .9999 fine silver, with the Liberty Refiner Purity Mark, has demonstrated the effectiveness of the Minerals process on the Bayhorse mineralization. The silver bar was extracted from a portion of the 175 kg (386 lb.) of the samples sent to Minerals as reported in the Company’s news release BHS2019-01 issued on February 6, 2019.
Additional 12 kg samples of silver bearing material, extracted directly from the Bayhorse Bonanza Vein, and unsorted, has been shipped to Minerals. This sample assayed 338.5 ounces/ton (10,528.5 grams/ton) silver.
The highest grade sample of silver bearing mineralization taken from the Bayhorse Silver Mine was 4,835 ounces (150.37 kg) per ton, as reported in the Company’s news release BHS2014-01, January 14, 2014. (This sample was a selected sample and is not representative of the mineralization hosted on the property.)
The Company has shipped in excess of 175 kg of unsorted Bayhorse Silver Mineralization, of a variety of grades, up to bonanza grades, to ensure that Minerals has sufficient grade variation of samples to optimize silver recovery from their silver processing and refining process. The Company is working closely with Minerals in other areas of upgrading and processing of the Bayhorse mineralization through upgrading to refining to ensure we meet our goal of 98% plus silver recovery.
Bayhorse CEO Graeme O’Neill comments “We are very pleased with achieving this milestone, that is one more step towards revenue generation from the Bayhorse Silver Mine. We look forward to continue working with Minerals to further enhance the silver recovery along with other metals from the Bayhorse mineralization. This refined silver bar was the first silver to be produced from the Bayhorse Silver Mine in over 35 years. This pour has confirmed the Company’s confidence in Mineral’s non smelter process for refining silver from both oxide and sulfide mineralization from the Bayhorse Silver Mine, and we look forward to a long term working relationship with Minerals.”
The samples were split according to ASTM sampling protocol. Assaying for the samples reported above was conducted by Christopherson Umpire Assayer of Osburn, Idaho. The analytical method used for the silver analysis consists of 1 Assay Ton (AT) samples subjected to fire assay with gravimetric finish. Base metals assay for the samples are subjected to an ICP 35 element, four acid digestion assay. Fire assays were done in duplicates with corrected silver.
The Company is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability, and also advises there is an increased uncertainty and specific economic and technical risk of failure with any production decision. These risks include, but are not limited to, a drop in price of commodities produced, namely silver, copper, lead and zinc, from the pricing used to make a production decision. Failure of grades of the produced material to fall within the parameters used to make the production decision and increase in mining costs due to changes within the mine during development and mining procedures. There are also metallurgical recovery changes that cannot be anticipated at the time of production.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents. Dr. Stewart Jackson, P.Geo., a Qualified Person and Consultant to the Company has prepared, supervised the preparation of, and approved the technical content of this press release.
On Behalf of the Board.
Graeme O’Neill, CEO