November 21, 2018 BHS2018-36
Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse“) has shipped high grade metallurgical samples (166 opt Ag – 175 opt Ag), to identified smelters, as well as to Mineral Solutions LLC, (Minerals) of Coeur d’ Alene, Idaho, to receive firm pricing for extracting and refining silver and other minerals from the Company’s shipping grade concentrate processed through its Ore-Sorter. The Company will provide an update when results are received,
The 8 kg (17lb) metallurgical samples shipped were reported in the Company’s news release BHS2018-34, November 12, 2018. The samples, that graded 175.3 oz/t Ag (5,452.42 g/t), 166.6 oz/t Ag (5,175.60 g/t), and 169.7 oz/t Ag (5,278.25 g/t) respectively, were taken from a homogenous 50 kg underground channel sample from the Bayhorse Silver Mine.
The Company has a Letter of Intent with Minerals Solutions LLC (Minerals) of Coeur D Alene Idaho, a Joint Venture between Liberty Refiners LLC (Liberty) of Hayden, Idaho and Irish Metals LLC (Irish) of Coeur D’ Alene, Idaho, to process a portion of its upgraded shipping material directly into pure refinery grade 4 X Nine silver. By grinding its upgraded shipping material to -80 mesh at the Mine, Bayhorse is better able to provide material that meets Minerals’ specifications for refining.
Upon receipt and acceptance of definitive terms, the Company will commence deliveries of upgraded shipping material to Minerals.
Bayhorse CEO Graeme O’Neill comments “by upgrading the mineralization to shipping grade, the Company is able to reduce transportation costs per ounce, and minimize processing losses that inevitably occur during flotation concentration. This allows for reduced costs in the processing and smelting/refining options available to us as we upgrade our high grade silver bearing mineralization to shipping grade, and we minimize the 10% losses that normally occur during the flotation process. We are very proud to have developed the Bayhorse Silver Mine at a cost of $1.00 per inferred silver resource ounce”.
The Company is currently tramming over 1,200 tons of already extracted mineralization from the high grade Goldilocks zone, 1,100 feet inside the Bayhorse Silver Mine at the extreme western end of the main haulageway, to the newly built all weather storage pad.
The mineralized material is then passed through the crushing circuit, where it is reduced to between 8mm and 20mm – 25mm in size, to allow for greater selectivity when processed through the Steinert X-Ray Transmissive Ore-Sorter at rates up to 40 tons per hour.
storage pad ready for all weather cover installation.
The Sorter removes up to 95% of the unmineralized and low grade material from the process stream, increasing the silver grade to the shipping grade of 103 opt Ag (3,000 g/t) or better prior to being shipped to the smelter/refiner.
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 increased uncertainty and specific economic and technical risks 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 the production decision, failure of the 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
Bayhorse Silver Inc., a junior exploration company, has earned 100% interest in the historic Bayhorse Silver Mine, Oregon, USA. The Company has an experienced management and technical team with extensive exploration and mining expertise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.