Bayhorse Silver Commences Underground Drill Program

Posted on Mar 13, 2024 in News Release

March 13, 2024.                                                                                 BHS2024-07


Bayhorse Silver Commences Underground Drill Program

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) reports that it has commenced the first stage of its underground drill program at its Bayhorse Silver Mine in Baker County, Oregon, USA.

The first drill holes are to confirm the  Big Dog hanging wall mineralization, where prior drill results has identified silver grades of 6.75 oz/t over 6 meters, (BHS22-08)  and Grab samples taken from the Big Dog zone returned 218.2 oz/t  (6,786.76 g/t) and 30.17 oz/t (938.4 g/t) silver respectively, while a Goldilocks sample returned 145.05 oz/t (4,511.5 g/t) silver. (BHS22-07)

The second stage of underground drilling will be to target a low resistivity zone identified from the recent VTEM survey, that starts immediately to the west of the western end of the current underground workings. ( Figure 1 – Proposed drill targets).

The known strike of the Big Dog hanging wall zone is 100 meters (330 feet) with a 12 meter (40 foot known vertical extent.

A surface drill program is currently in the permitting stage targeting the large low resistivity zone on the SE corner of the Bayhorse Idaho property, that appears to extend to the east, beyond the VTEM survey area. Drill target “1” and drill target “2’” are 600 meters (2,000 feet) apart, with the smaller low resistivity drill target 3, is a further  1,000 meters (3,300 feet)   to north, to determine whether a copper porphyry exists on the Idaho property.

There are possibly two different mineralized targets on the newly acquired Idaho claims. A Bayhorse Mine style silver rich massive sulphide target related to the strong magnetic signatures and a possibly Hercules Silver-type copper porphyry target marked by the strong minimal Resistivity results.

Bayhorse CEO, Graeme O’Neill, comments that the low resistivity anomaly both immediately west and east of the Bayhorse Mine underground workings, makes it a priority for further drill testing. As well the low resistivity anomalies in the east of the Idaho property, may significantly increase the discovery potential of a copper porphyry deposit as found at Hercules Silver property, 44 km to the north in similar geological terrain.

Due to the historic reported gold grades of up to 10 g/t at the Bayhorse Mine, (Silver King Mines, 1984) and presence of high grade gold properties in close proximity to the Bayhorse Mine (Gleason, 8 km to the west, Connor Creek, 6 km to the north) the Company’s senior geological consultants believe it possible that the silver-rich Bayhorse Mine epithermal mineralization may be underlain by a gold-rich zone.

Figure 1 Proposed drill targets

Dr. Clay Conway, P.Geol., has mapped rhyolite-hosted mineralization east of the Snake River in the area underlain by the strong magnetic anomalies. This raises the possibility that another Bayhorse Silver rich deposit may be found at the hydrothermally altered rhyolite contacts.

Figure 2. Bayhorse underground and mapped Idaho mineralization

It has long been known  there is a strong genetic and spatial relationship between porphyry plutons (which are the source of the hot fluids and metals) and outlying or overlying epithermals, skarns, mantos and even vein systems. If the metals stay in the pluton or close to its margins it may end up as a Cu porphyry. If in addition the fluids move upwards along conduits, then this could result in precious metal epithermal mineralization like the Bayhorse high grade silver deposit.

This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Mark Abrams, AIPG Certified Professional Geologist, a Qualified Person and Director of 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