Silver Bull Resources, Inc. (TSX:SVB)(NYSE MKT:SVBL) ("Silver
Bull") is pleased to announce the drill results for the third of
five batches of drill holes from the underground drill program
twinning a series of "long holes" in the high grade zinc zone
situated below and adjacent to the high grade silver zone, located
at the eastern end of the Shallow Silver Zone on the Sierra Mojada
Project in Coahuila, Northern Mexico.
High grade zinc highlights from the third batch of 22 drill holes include:
-- Hole T12161: 43.55 meters @ 15.65% Zn (including 14.5m @ 20.26% Zn)
-- Hole T12149: 9.30 meters @ 15.72% Zn (including 1.95m @ 28.35% Zn)
-- Hole T12162: 22.35 meters @ 14.81% Zn (including 3.25m @ 184.77g/t Ag)
-- Hole T12155: 18.20 meters @ 14.26% Zn (including 3.75m @ 21.23% Zn)
-- Hole T12156: 37.25 meters @ 13.12% Zn (including 6.5m @ 24.23% Zn)
-- Hole T12154: 32.10 meters @ 13.10% Zn (including 19.4m @ 18.75% Zn)
-- Hole T12143: 18.10 meters @ 12.65% Zn (including 5m @ 24.44% Zn and
3.95m @ 81.89g/t Ag)
-- Hole T12142: 17.80 meters @ 10.62% Zn (including 6.1m @ 25.91% Zn)
-- Hole T12147: 21.00 meters @ 10.95% Zn (including 3.15m @ 19.21% Zn)
-- Hole T12148: 24.25 meters @ 9.55% Zn (including 12.4m @ 15.35% Zn
-- Hole T12163: 22.50 meters @ 9.08% Zn (including 2.45m @ 20.31% Zn)
-- Hole T12152: 5.00 meters @ 16.54% Zn
Mineralization remains open in the north, south, east, and westerly
directions.
The underground drill program at Sierra Mojada utilized two
underground "Termite" drill rigs to twin a historical long hole
data set with diamond core along a high grade silver zone and an
underlying and adjacent high grade zinc zone, both with a presently
defined strike of 1.5km and located at the eastern end of the
Shallow Silver Zone. The purpose of the program is to increase
confidence in the long hole data set which represents approximately
38,000 meters of drilling that was either severally restricted or
discarded in Silver Bull's last NI43-101 resource report on the
project dated July 5, 2012.
The twinning drill program concluded in mid December 2012 and
the company is awaiting final assay results from the lab at ALS
Chemex in North Vancouver, Canada. Complete results from the 2012
twinning program will be incorporated in an updated NI43-101
resource estimate on the Shallow Silver Zone and Zinc Zone,
scheduled for release in Q1 2013.
A table of holes T12142 to T12164 from the underground long hole
twinning program is shown below.
----------------------------------------------------------------------------
Total Inter-
Drill Depth From To val Zn Ag
Station HoleID (m) (m) (m) (m) % g/t Includes Comment
----------------------------------------------------------------------------
Station T12142 17.80 0.00 17.80 17.80 10.62 18.34 including ended in
27 6.1m @ mineralization
25.91% Zn,
2.1m @
57.95g/t Ag
and 0.9m @
2.22% Pb
----------------------------------------------------------------------------
Station T12143 18.10 0.00 18.10 18.10 12.65 31.67 including ended in
27 5m @ mineralization
24.44% Zn
and 3.95m @
81.89g/t Ag
----------------------------------------------------------------------------
Station T12144 10.40 0.00 10.40 10.40 5.95 including ended in
27 2m @ mineralization
16.23% Zn
and 1.75m @
35.3g/t Ag
----------------------------------------------------------------------------
Station T12145 56.30 0.00 1.00 1.00 1.23 11.70
27
-------------------------------------------------------
9.00 10.60 1.60 13.81
-------------------------------------------------------
16.00 26.30 10.30 1.09 including
1m @
13.4g/t Ag
----------------------------------------------------------------------------
Station T12146 4.65 0.00 3.30 3.30 14.08 10.18
23
----------------------------------------------------------------------------
Station T12147 39.70 0.00 21.00 21.00 10.95 including
23 4.65m @
10.45g/t Ag
and 3.15m @
19.21% Zn
----------------------------------------------------------------------------
Station T12148 36.00 0.00 24.25 24.25 9.55 including
23 12.4m @
15.35% Zn
and 1m @
1.09% Pb
----------------------------------------------------------------------------
Station T12149 9.30 0.00 9.30 9.30 15.72 40.92 including ended in
23 1.95m @ mineralization
28.35% Zn
----------------------------------------------------------------------------
Station T12150 20.15 0.00 18.60 18.60 5.70 including
23 11m @
20.53g/t
Ag, 3.5m @
18.06% Zn
and 6.5m @
4.9% Pb
----------------------------------------------------------------------------
Station T12151 32.15 0.00 14.20 14.20 3.98 including
27 12m @
12.3g/t Ag
and 3.25m @
11.87% Zn
----------------------------------------------------------------------------
Station T12152 19.30 0.00 5.00 5.00 16.54 16.36
27
----------------------------------------------------------------------------
Station T12153 24.25 0.00 9.25 9.25 6.92 13.15 including
27 2.2m @
11.11% Zn
----------------------------------------------------------------------------
Station T12154 32.10 0.00 32.10 32.10 13.10 11.21 including ended in
25 19.4m @ mineralization
18.75% Zn
and 2.35m @
18.69% Zn
----------------------------------------------------------------------------
Station T12155 19.40 0.00 18.20 18.20 14.26 including
25 17.55m @
15.69g/t
Ag, 3.75m @
21.23% Zn,
1.4m @
57.6g/t Ag
and 2.8m @
6.01% Pb
----------------------------------------------------------------------------
Station T12156 37.25 0.00 37.25 37.25 13.12 including ended in
23 14m @ mineralization
15.82g/t
Ag and 6.5m
@ 24.23% Zn
----------------------------------------------------------------------------
Station T12157 44.10 0.00 7.00 7.00 6.17 including
26 1.55m @
15.29% Zn
-------------------------------------------------------
19.00 31.70 12.70 3.36 including
5.7m @
10.41g/t Ag
and 0.6m @
16.45% Zn
----------------------------------------------------------------------------
Station T12158 10.85 0.00 10.85 10.85 3.30 ended in
26 mineralization
----------------------------------------------------------------------------
Station T12159 38.75 0.00 22.00 22.00 4.96 including ended in
26 2.35m @ mineralization
13.64% Zn,
1.25m @
22.8% Zn,
7.9m @
25.23g/t
Ag, 0.55m @
95.8g/t Ag
and 2.4m @
9.38% Pb
-------------------------------------------------------
34.10 38.75 4.65 1.09 ended in
mineralization
----------------------------------------------------------------------------
Station T12160 13.95 0.00 13.95 13.95 4.88 including ended in
26 2.1m @ mineralization
19.98% Zn
----------------------------------------------------------------------------
Station T12161 43.55 0.00 43.55 43.55 15.65 including ended in
25 14.5m @ mineralization
20.26% Zn
----------------------------------------------------------------------------
Station T12162 35.35 0.00 22.35 22.35 14.81 including
25 3.25m @
184.77g/t
Ag
----------------------------------------------------------------------------
Station T12163 22.50 0.00 22.50 22.50 9.08 including ended in
25 2.45m @ mineralization
20.31% Zn
and 5.8m @
9.98g/t Ag
----------------------------------------------------------------------------
Station T12164 26.30 0.00 6.15 6.15 12.94
25
----------------------------------------------------------------------------
Intervals shown are mineralized lengths of core and are not necessarily true
widths.
To view Figure 1 and Figure 2 accompanying this press release,
please click on the following link:
http://media3.marketwire.com/docs/svb131i.pdf
About the Shallow Silver Zone: The "Shallow Silver Zone" is an
oxide silver deposit (+/- zinc & lead), hosted along an
east-west trending fracture-karst system set in a cretaceous
limestone-dolomite sequence. At a 20g/t cutoff grade the Shallow
Silver Zone has a measured resource of 3.023 million tonnes at an
average grade of 65 g/t for 6.343 million contained troy ounces of
silver, an indicated resource of 38.560 million tonnes at an
average grade of 50 g/t for 61.694 million contained troy ounces of
silver, and an inferred resource of 6.491 million tonnes at an
average grade of 45 g/t for 9.478 million contained troy ounces of
silver. The mineralized body averages between 30m - 90m thick, up
to 200m wide and remains open in all directions. Approximately 60%
of the current 3.8 kilometer strike length is at or near surface
before dipping at around 6 degrees to the east.
Zinc Exploration Target: In addition to the silver resource,
Sierra Mojada also contains a significant "zinc oxide exploration
target" which sits directly below and adjacent to the Shallow
Silver Zone at its eastern end. The "Red" and "White" zinc zones
have been identified through historical data containing 3,733
channels and 1,045 long holes over a 1.5 km strike length, but
historically had too few core drill holes to delineate a NI43-101
compliant mineral resource. The zinc mineralization is composed of
hemimorphite and lesser smithsonite and forms a tabular body hosted
mostly within the upper dolomite along the east-west trending
Sierra Mojada fault. It is located 600 meters from a functioning
railway and has been periodically mined for zinc grading greater
than 20% over the last 100 years.
Sample Analysis and QA/QC: All samples have been analyzed at ALS
Chemex in North Vancouver, BC, Canada. Samples are first tested
with the "ME-ICP41m" procedure which analyzes for 35 elements using
a near total aqua regia digestion. Samples with silver values above
100ppm are re-analyzed using the Ag-GRA21 procedure which is a fire
assay with a gravimetric finish. Samples with zinc, lead, and
copper values above 10,000ppm (1%) are re-analyzed using the AA46
procedure which is a near total aqua regia digestion with an atomic
absorption finish.
A rigorous procedure is in place regarding sample collection,
chain of custody and data entry. Certified standards and blanks, as
well as duplicate samples are routinely inserted into all sample
shipments to ensure integrity of the assay process.
About Silver Bull: Silver Bull is a US registered mineral
exploration company listed on both the NYSE MKT and TSX stock
exchanges and based out of Vancouver, Canada. The flag ship "Sierra
Mojada" project is located 150 kilometers north of the city of
Torreon in Coahuila, Mexico, and is highly prospective for silver
and zinc. Silver Bull also has 2 mineral licenses in Gabon, Central
Africa, which are prospective for gold, manganese, and iron
ore.
The technical information of this news release has been reviewed
and approved by Tim Barry, MAusIMM, a qualified person for the
purposes of National Instrument 43-101.
On behalf of the Board of Directors
Tim Barry, MAusIMM, Chief Executive Officer, President and
Director
Cautionary Note to U.S. Investors concerning estimates of
Measured, Indicated and Inferred Resources: This press release uses
the terms "measured resources", "indicated resources", and
"inferred resources" which are defined in, and required to be
disclosed by, NI 43-101. We advise U.S. investors that these terms
are not recognized by the United States Securities and Exchange
Commission (the "SEC"). The estimation of measured and indicated
resources involves greater uncertainty as to their existence and
economic feasibility than the estimation of proven and probable
reserves. U.S. investors are cautioned not to assume that measured
and indicated mineral resources will be converted into reserves.
The estimation of inferred resources involves far greater
uncertainty as to their existence and economic viability than the
estimation of other categories of resources. U.S. investors are
cautioned not to assume that estimates of inferred mineral
resources exist, are economically minable, or will be upgraded into
measured or indicated mineral resources. Under Canadian securities
laws, estimates of inferred mineral resources may not form the
basis of feasibility or other economic studies.
Disclosure of "contained ounces" in a resource is permitted
disclosure under Canadian regulations, however the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures. Accordingly, the
information contained in this press release may not be comparable
to similar information made public by U.S. companies that are not
subject NI 43-101.
Cautionary note regarding forward-looking statements: This news
release contains forward-looking statements regarding future events
and Silver Bull's future results that are subject to the safe
harbors created under the U.S. Private Securities Litigation Reform
Act of 1995, the Securities Act of 1933, as amended (the
"Securities Act"), and the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and applicable Canadian securities
laws. Forward-looking statements include, among others, statements
regarding measured, indicated and inferred resource estimates, the
timing of the next resource update, the ability to demonstrate a
high correlation and increase the confidence of the long hole data
set, the ability to incorporate the long hole data set in the next
resource update and the ability to delineate a zinc resource in the
zinc exploration target. These statements are based on current
expectations, estimates, forecasts, and projections about Silver
Bull's exploration projects, the industry in which Silver Bull
operates and the beliefs and assumptions of Silver Bull's
management. Words such as "expects", "anticipates", "targets",
"goals", "projects", "intends", "plans", "believes", "seeks",
"estimates", "continues", "may", variations of such words, and
similar expressions and references to future periods, are intended
to identify such forward-looking statements. Forward-looking
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond our control, including such
factors as the results of exploration activities and whether the
results continue to support continued exploration activities,
unexpected variations in ore grade, types and metallurgy,
volatility and level of commodity prices, the availability of
sufficient future financing, and other matters discussed under the
caption "Risk Factors" in our Annual Report on Form 10-K for the
fiscal year ended October 31, 2012 and our other periodic and
current reports filed with the SEC and available on www.sec.gov and
with the Canadian securities commissions available on
www.sedar.com. Readers are cautioned that forward-looking
statements are not guarantees of future performance and that actual
results or developments may differ materially from those expressed
or implied in the forward-looking statements. Any forward-looking
statement made by us in this release is based only on information
currently available to us and speaks only as of the date on which
it is made. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Contacts: Silver Bull Resources, Inc. Matt Hallaran Investor
Relations 604-336-8096info@silverbullresources.com
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