Bayhorse Silver Extends Silver Zone To South, Uncovers Significant Stockpile Of Mined Rock In Upper Historical Stopes
May 20, 2021. BHS2021-10
BAYHORSE SILVER Extends Silver Zone to South, Uncovers Significant Stockpile of Mined Rock in Upper Historical Stopes.
Bayhorse Silver Inc. (BHS: TSX-V) (the “Company” or “Bayhorse”) is pleased to report pleasing exploration results from preliminary drilling and sampling at the Bayhorse Silver Mine, Oregon, USA.
Extension of the main silver zone to the south has been accomplished from a new drift with a drill station located on the south side of the main haulage way, This development drift, 3 x 3 x 12 meters has been completed to date in well mineralized rhyolite host rock throughout the entire length of the new drift. The new zone is open to the south, as well as along strike to the east and west.
Each 3 m x 3 m x 2 m blast round creates 70 tons of mineralized muck for sorting and processing. Samples were taken along the face of each blast round and from the corresponding muck. All samples have been submitted for assay, with results pending.
When opening the historically mined upper stopes, a significant amount of historic mineralized muck was discovered. This mineralized material, along with that from the new drill station drift, is being sorted and processed through the flotation facility.
Encouragingly, the ore-sorter is currently segregating one in seven tons of this material as mineralized, indicating that the new material is significantly more mineralized than what has been sorted to date.
Bayhorse CEO Graeme O’Neill comments, “While we anticipated that mineralization would extend to the South, it is very encouraging that this is confirmed by drifting into it as our drilling program progresses. I am also pleased to see increased ore-sorter recovery due to more intense mineralization in the mined material. I am further gratified that not only does the price of silver remain elevated, boding well for the future prospects, but prices are also rising for both Copper ($4.65/lb) and Antimony, ($3.65/lb) that constitute 20% – 25% of our resultant concentrate.”
While some logistics delays have been created by reduction of activity due to Covid-19 constraints, including assay results, in general the Company has fortunately been able to move forward through the care taken by staff.
The Company is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability and 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, (i) a drop in price of commodities produced, namely silver, copper, lead and zinc, from the pricing used to make a production decision; (ii) failure of grades of the produced material to fall within the parameters used to make the production decision; (iii) an increase in mining costs due to changes within the mine during development and mining procedures; and (iv) 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 content. 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