On September 10 Bayhorse Silver Inc (TSXV: BHS) reported the first set of assays (BHS2018-28) on our channel sampling program at the Bayhorse Silver Mine in Oregon.
Today we are very pleased to report further high grade assays on the next 21 channel samples bringing the total to date to 47 of the 60 samples submitted to the lab.
Highlights of this round include:
- three samples graded between 20 oz/t (630 g/t) and 50 oz/t (1,555 g/t)
- four samples graded between 10 oz/t (311 g/t) 20 oz/t (630 g/t)
- three samples graded between 4 oz/t (124 g/t) and ten oz/t (311 g/t)
- the remainder assayed under 4 oz/t (124 g/t)
During the 1984 mining program at the Bayhorse Mine, historic records show that of the tonnage mined, 23% graded between 21 — 100 oz/t, 71% graded between 6 — 20oz/t, with the remainder grading under 6 oz/t and the assays of the channel samples we have received are consistent with those levels of mineralization.
In addition to the channel samples we are awaiting an assay of a 30kg metallurgical sample and the assays of the long holes we have drilled.
Bayhorse CEO Graeme O’Neill comments “The channel sample assays to date appear to be showing a strong similarity to the silver grade percentages mined during the 1984 program. This comprehensive sampling program is in support of the Company’s NI-43-101 report, that is nearly complete, and to support the imminent removal and processing of a large mineralized block.” He also comments “we do not know how long silver prices will remain under pressure but analyst Clive Maund recently has written about the astounding number of short positions against silver that sooner or later must be covered that should lead to much higher prices”.
The new full channel sample results are tabulated below:
|Sample||Ag g/t||Ag oz/t|
The 60 channel samples, each measuring 0.66 meters (2.4ft) by 0.2 meters (6″), were taken on ten (10) foot centers with three components, from the back, and the left and right ribs for each sample site. All are from the westerly end of the newly accessed main haulage way.
To complement the channel samples, a series of long holes, on fifteen (15) foot centers, are being carried out along 200 feet of the haulage way, commencing at the first channel sample location. The long hole groups consist of one vertical hole, one angled 70 degrees in the westerly direction along the haulage way, and one at 70 degrees into the right rib. Cuttings are being taken at one (1) meter intervals up the holes and submitted for assay. Both the channel samples and long holes are for comparison with historically reported and mined, both high grade and low grade material, and with the thickness of the mineralized zone, that was historically reported as averaging 20 feet.
Further assay results will be reported as received.
The Company 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 with any production decision. These risks include drop in price of commodities produced, namely silver , copper, lead, and zinc, from the pricing used to make the production decision, failure of the grades of the produced material to fall within the parameters used to make the production decision, and increase in mining costs due to changes within the mine during development and mining procedures. There are also metallurgical recovery changes that cannot be anticipated at the time of production.
Assaying for the samples reported above is by American Analytical Services Labs of Osburn, Idaho. The analytical method used for the silver analysis consists of a 1 Assay Ton (AT) samples subjected to fire assay with gravimetric finish. Base metals are subjected to an ICP 35 element, four acid digestion assay.
The Company has issued the shares for debt as disclosed in the Company’s news release BHS2018-27
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.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
Bayhorse Silver Inc., a junior exploration company, has earned 100% interest in the historic Bayhorse Silver Mine, Oregon, USA. The Company has an experienced management and technical team with extensive exploration and mining expertise.
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.