BAYHORSE SILVER MAKES BREAKTHROUGH IN UNDERSTANDING STRUCTURAL CONTROL OF MINERALIZATION, BAYHORSE SILVER MINE, OREGON, USA
April 7, 2022. BHS2022-07
Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) reports on a recent geological structural review of the mineralized system deep inside the historic mine by Dr. Clay Conway, P. Geo., at the Big Dog and Goldilocks Zones at the Bayhorse Silver Mine, Oregon, USA.
Strongly altered andesite and locally richly mineralized rhyolite are interlensed as ‘fault slices’ in the complex Sunshine thrust fault zone. Historically mined Ag-rich ore has been taken from rich pockets in the fault zone which is considered to have been a controlling factor for the mineralization.
The Sunshine thrust zone is more than 63 feet thick in the Goldilocks area; the bottom is seen but not the top; an inaccessible raise extends another 25 feet higher. In comparison, the mineralized fault zone at the Sunshine stope near the historical upper adit, is about 20 feet thick. The areas in these zones were previously inaccessible until recently when they were made safe for inspection and review.
The large proportion of rhyolite (greater than 60%) in the thick fault zone of the Goldilocks area, at the far western end of the mine, indicates there is strong potential for further westward extension of silver mineralization. In new sampling from the Goldilocks zone, silver is as high as 145 ounces/tonne (4,500 grams/tonne).
An 88 foot high historic raise in the Goldilocks zone is currently being timbered for safety, for further access, and to enable future mining development. Mineralization here is similar to, and continuous with, the historically extensively stoped Big Dog zone.
Grab samples taken during the review at 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..
The reader is cautioned that chip, channel and panel samples are considered select samples that may not be reflective of average or mined grades.
Fault contacts within the fault zone between rhyolite and andesite, from Goldilocks to Big Dog, trend variably, but there is a strong preference for shallow to moderates dips to the southwest that is apparently the orientation of the overall fault zone and thus also of the mineralized zone.
Bayhorse CEO, Graeme O’Neill, comments “Understanding the structural controls of the Bayhorse mineralization is an extremely important part of making a Mine. As we continue to progress with making all the historic upper level workings accessible, we are seeing the tantalizing potential for significant expansion of the mineralized zone to the North as well as the West. Dr. Conway is a long time geological consultant to the Company and has been intimately involved with exploration of the Bayhorse Mine since 2014.
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