Feb 21, 2018 BHS2018-04
BAYHORSE SILVER INC.– CHANNEL SAMPLE RETURNS IMPRESSIVE 12.46 KG/T SILVER (400.69 OZ/T SILVER) VALUE, BAYHORSE MINE, OREGON, USA.
Bayhorse Silver Inc., TSX-V: BHS (“Bayhorse” or the “Company”) is pleased to report additional high silver assays from the Legend, Sunshine and Big Dog mineralized zones, Bayhorse Silver Mine, Oregon, USA.
A previously reported high grade five centimeter chip sample of 739.25 oz/t was followed up by the results of a 20 cm (8 inch) by 75 cm (30 inch) channel sample across a 1.5 meter (5 foot) wide zone in the center of the 20 meter wide mineralized Legend zone, as well as chip samples from both sides of the structure. The channel sample returned 12.46 kg/t silver (400.69 oz/t)
Concurrently, high grade sample results were received from the Big Dog Zone and the raise up to the Sunshine Zone, that are tabulated below:
(Channel, chip samples are selected samples and are not representative of the mineralization hosted on the property.)
Bayhorse CEO, Graeme O’Neill comments “With the old timer miners, it was drill for structure, mine to establish grade. While continued discovery of bonanza grade silver assays at the Bayhorse greatly encourages us in our mine development, as the old timers knew, only mining over the coming months will provide us the actual mined grades.”
Continued underground development work is investigating the mining projections of the Herdrick (1981) Report which estimated remaining shipping material at the Bayhorse Silver Mine to be 166,000 tons at 17 – 20 opt Ag at a 7.5 opt (233 g/t) Ag cutoff for gross contained ounces of between 2,825,000 and 3,324,000 Ag. He further estimated on-site milling material to be 473,000 tons at a 3 opt (93 g/t) Ag cutoff. Testing by Bayhorse with the Ore-Sorter at the Steinert facility in Kentucky has allowed the Company to establish a lower potential cut-off grade of 2.5 opt (77.8 g/t) Ag ( News Release BHS 2017-14, August 10, 2017).
News release BHS2017-24 reported that mineralization intersected 50 feet below the Sunshine and Junction Zones, 160 and 340 feet respectively from the Mine portal, increased the vertical extent of mineralization to 70 feet from 20 feet in thickness. High silver grades at the Bayhorse Silver Mine have consistently been reported, including in News Releases, BHS2014-01, BHS2014-09, BHS2016-10, BHS2016-11, BHS2017-17.
The Company has established a quality control assay program at the Bayhorse Silver Mine. Production samples are split with half placed into a pulverizer, homogenized, dried, and submitted to XRF analysis with the other half retained for comparison. Check samples are sent for assay to a qualified lab. Mine samples reported are split, with one half retained for comparison. Assaying for the samples reported above was undertaken by Metsolve Labs of Langley, BC. The analytical method used for the silver analysis consisted of a 50 gram sample subjected to fire assay with gravimetric finish.
The Company advises it is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision.
The Company advises that 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. There can be no assurance that additional work will result in the definition of any current resource or reserve. The Company is not treating the historical estimates as current mineral resources or mineral reserves.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents. Dr. Stewart Jackson, P.Geol., a Qualified Person and Consultant to the Company has prepared, supervised the preparation of, or approved the technical content of this press release.
On Behalf of the Board.
Graeme O’Neill, President