Silver Bull Resources has released the results of an underground drill program at its Sierra Mojada Project in Coahuila, Northern Mexico. The headline numbers are impressive:
9 Meters of Sulphide Mineralization Grading 20.7% Zinc, 1% Lead and 98g/t Silver
In the release Tim Barry, President, CEO and director of Silver Bull stated,
“We are extremely pleased with the results from this batch of drill core. The new sulphide zone is proving to be very productive for high grade sulphide mineralization. The drilling summarized in this news release targeted the second of three steeply dipping, discreet structures we have identified in the sulphide zone. Drilling from the first structure previously announced in the news releases of holes T17001 to T17006 was dominated by high grade silver-copper sulphide mineralization grading up 1,300g/t silver and 6% copper. This second structure is dominated by extremely high zinc sulphide mineralization, grading up to 48% zinc and suggests a metal zonation in the mineralization we see at Sierra Mojada and provides very useful information in helping us vector into an intrusion, interpreted as the source of metals currently defined on the project.”
Silver Bull has struggled in the market partially due to the fact that while it has a solid 43-101 Resource on the property, that resource is an oxide deposit which raises production and processing issues. The discovery of easier to produce sulphide mineralization may be the catalyst the market needs to take a second look at Silver Bull.