Bayhorse Silver Receives Significant Mag VTEM Survey Results On Its Idaho Bayhorse Property.

Posted on Mar 4, 2024 in News Release

March 4th, 2024.                                                                                 BHS2024-06

Bayhorse Silver Receives Significant Mag VTEM Survey Results On Its Idaho Bayhorse Property.

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) reports Strong Mag results from the recently completed Geotech Ltd. helicopter-borne VTEM and Horizontal Magnetic Gradiometer Geophysical Survey over its Bayhorse Silver Mine Property in Oregon and Idaho, USA.

The Company is pleased to report the presence of three significant magnetic anomalies, within an area 1.8 km by 1.2 km (1.13 miles by 0.75 miles) (Figure 1) in the northern section of the property from where the “Low Resistivity” signatures were announced in the southeast section of the Idaho property ( BHS2024-05), .(Figure 2)

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 large significant magnetic anomalies in the north of the Idaho property, may significantly increase the discovery potential of additional Bayhorse style silver rich mineralization such as is present at the Bayhorse Silver Mine, as well as 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 Strong Magnetic anomalies in the northern section of the Bayhorse Idaho property.

Figure 2 Low resistivity zones in the eastern and southern sections of the Bayhorse Idaho property

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.

It has long been known that 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.

During the recent staking of the Idaho property, surface sampling was conducted on the historic adits, pits and dumps.  More copper-stained surface exposures were identified. This work will form part of a further comprehensive mapping program.

The Company announces that, subject to the approval of the TSX-V Exchange, the Company has extended the expiry date of the following warrants (all other terms remain unchanged):

  1. Original expiry date of 11,497,000 warrants: March 28, 2024.
  2. New expiry date of 11,497,000 warrants: March 28, 2025.

Exercise price of warrants: 15 cents.

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