Bayhorse Silver Inc. (“Bayhorse” or the “Company”) BHS: TSX-V, reports that it has entered into an Agreement with American Mining and Tunneling (“AMT”) to conduct prepatory work on the Bayhorse Silver mine property recently acquired by the Company in eastern Oregon.
AMT has completed a survey by its safety team and is in the process of mobilizing to the project where, among other things, it will rehabilitate the adit to ensure the adit is safe for access, and conduct such other work to enable the Company’s geologists to sample the underground workings in a safe manner in order for the Company to confirm the historical reported grades and to conduct other geological sampling and mapping.
The Company has received preliminary results from Met-Solve Laboratories on the recent bulk sample that was taken from the low grade stockpile that remains on the property from the 1984 mining program as well as from additional sampling. Approximately 250 kg of material was taken from ten (10) evenly spaced pits on the low grade stockpile, of which 170 kg was combined into one sample for assaying. The head grade of the combined sample was 184 grams/tonne (5.92 oz/tonne) which is consistent with the historic reports that 6% of the ore mined grades less than 6 ounces/ton (205.7 g/mt)
Four channel samples totaling 40.6 kg taken from an outcropping mineralized zone were also submitted to Met-Solve Labs for assay and metallurgical testing.Sample GV301 graded 5,601 g/t Ag, (180 oz/t or 5.6 kg/ton), GV302-1 graded 17,757 g/t Ag, (571 oz/t or 17.57 kg/t), GV302-2 graded 14,876 g/t (478/oz/t or 14.88 kg/t), and GV304 graded 1,421 g/t Ag (45.7 oz/t or 1.4 kg/t)
These samples and grades are tabulated below. The 170 kg composite plus an additional composite containing the 40.6 kg composite (averaging 5,330 g/t) as reported above, and an additional composite of 10.76 kg of mineralized material (averaging 3,370 g/t Ag), for a total of 51.16 kg are to be tested for silver recovery by flotation methods. These will be reported once received from the lab.
|Sample number||Sample Type||g/t||oz/tonne||kg/t|
|GV301||15 ft channel sample of ore from an andesite alteration horizon around the main vein||5,601||180||5.6|
|GV302-1||Select channel sample of a mineralized zone 4 ft long x 1 ft wide||17,757||571||17.57|
|GV302-2||Select channel sample of a mineralized zone 3.5 ft long x 1 ft wide||14,876||478||14.88|
|GV304||Sample of a mineralized andesite zone 15 ft long x 3 ft wide below the main vein||1,421||45.7||1.4|
(“The Company is classifying these samples as selective by nature and are unlikely to represent average grades of the vein or any deposit”)
The highest silver grades reported in the Company’s news release BHS2014-01 were in samples GRBH-20, 150.4 kg/tonne (150,370 g/tonne or 4,385 oz/tonne) and GRBH-19, 88.2 kg/tonne (88,206 g/tonne or 2,836 oz/tonne). In addition samples GRBH-13 graded 1.19 kg/tonne (1,190 g/tonne or 38.26 oz/tonne), GRBH-09, 1.02 kg/tonne (1,020 g/tonne or 32.79 oz/tonne), GRBH-02, 0.9 kg/tonne (902 g/tonne or 29.0 oz/tonne) and GRBH-03, 0.88 kg/tonne (888 g/tonne or 28.55 oz/tonne
The Company advises that the following information is of a historic nature. Historic production estimates, drill information and grades reported have not been verified; A qualified person has not done sufficient work to verify the historical estimates nor classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimates as current mineral resources or mineral reserves. (ounces/grams conversion is one ounce/short ton = 34.2857 grams/metric ton)
As “stated in the minerals production yearbook” (Jacobsen, 1959), total reported historic production from the Bayhorse Mine through 1959 was 286,000 ounces of silver from 8,300 tons of ore for an average of approximately 34.5 opt Ag (1,183 g/t Ag) while Herdrick (1981) estimated remaining shipping ore at a 7.5 opt Ag cutoff to be 166,208 tons, and on-site mill ore at a 3 opt Ag cutoff to be 473,350 tons.
According to other more recent reports in 1984, 90 underground drill holes totaling 15,000 feet reportedly delineated 26,000 tons of silverbearing ore of which 5,718 tons were reported being produced at an average grade of 16.7 opt Ag (572.5 g/t Ag), while approximately 20,000 tons at an average of 15 opt Ag reportedly remained unmined. The historic records also indicate that of the 5,718 tons produced, 23% reportedly graded between 21 – 100 opt Ag, 71% reportedly graded between 6 – 20 opt Ag and 6% reportedly graded less than 6 opt Ag. Ancillary copper produced reportedly averaged 1% Cu. The highest reported grade from the 1984 drilling, sampling and mining program was from a mined round, containing a tetrahedrite-tennantite–rich vein, that assayed 691 opt Ag (23,691 g/t) and 15.72% Cu.
ABOUT BAYHORSE SILVER INC.
Bayhorse Silver Inc. is a junior exploration company which is earning an 80% interest in its newly acquired historic Bayhorse Silver Mine that has the potential for a substantial silver discovery, and has a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Lyell), in the highly prolific West Coast South Island gold fields of New Zealand, where it offers investors the potential for a major gold discovery. The Company has a 30% net profit interest in its prior owned Flagstaff, Washington, barite mine, and a 15% net profit interest in its prior owned Ivanhoe Creek, Nevada, bentonite property. The Company has an experienced management and technical team with extensive exploration expertise.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents. The contents of this news release has been reviewed and approved by Dr. Clay Conway, P.Geol., and qualified person as recognized by National Instrument NI-43-101 and a director of the Company.
For further information, please contact:
President and Chief Executive Officer
Bayhorse Silver Inc.
Telephone: +1 (604) 684-3394
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.