Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver Bull”)
is pleased to provide the results of an underground continuous
channel sampling program targeting the newly identified zone of
sulphide mineralization at its Sierra Mojada Project in Coahuila,
Northern Mexico.
Highlights from the program include:
- A Continuous east-west series of channel samples
returning 94.5 meters of 9.7% zinc, 124 g/t Silver, 1.6% lead, and
0.46% copper of sulphide mineralization which includes smaller
intervals of:
- 31.5 meters @ 22.36% zinc, 134.5 g/t silver, 2.05%
lead, 0.21% copper.
- 9 meters @ 10.2% zinc, 21 g/t silver, 0.06% lead, 0.07%
copper.
- 10.5 meters @ 432 g/t silver, 1.15% zinc, 0.05% lead,
1.22% copper.
- Highlights from select individual channel samples from
the continuous channel sample program in the new sulphide zone
include:
- Sample 25817 @ 4.45% zinc, 267 g/t silver, 11.08% lead,
1.91% copper.
- Sample 25818 @ 4.90% zinc, 163 g/t silver, 6.58% lead,
9.87% copper.
- Sample 25824 @ 23.21% zinc, 126 g/t silver, 3.76% lead,
0.24% copper.
- Sample 25825 @ 36.02% zinc, 178 g/t silver, 3.60% lead,
0.45% copper.
- Sample 25826 @ 21.36% zinc, 406 g/t silver, 3.31% lead,
0.30% copper.
- Sample 25827 @ 13.06% zinc, 118 g/t silver, 1.69% lead,
0.1% copper.
- Sample 25828 @ 12.55% zinc, 135 g/t silver, 1.40% lead,
0.09% copper.
- Sample 25829 @ 27.51% zinc, 139 g/t silver, 0.72% lead,
0.14% copper.
- Sample 25837 @ 20.29% zinc, 212 g/t silver, 6.65% lead,
0.47% copper.
- Sample 25838 @ 29.83% zinc, 504 g/t silver, 5.66% lead,
0.6% copper.
- Sample 25839 @ 27.96% zinc, 129 g/t silver, 2.75% lead,
0.42% copper.
- Sample 25844 @ 14.62% zinc, 195 g/t silver, 1.48% lead,
0.08% copper.
- Sample 25863 @ 863 g/t silver, 0.41% zinc, 0.14% lead,
1.32% copper.
- Sample 25866 @ 362 g/t silver, 0.19% zinc, 0.03% lead,
1.18% copper.
- Sample 25869 @ 863 g/t silver, 5.26% zinc, 0.06% lead,
2.78% copper.
A continuous underground channel sampling
program was conducted by Silver Bull during the month of August to
test the grade and continuity of an east-west trending high angle
structure which hosts sulphide mineralization (see figure 2, 3 and
4). In addition a north-south cross cut, perpendicular to this
structure was also tested. This north-south cross cut lies between
the tested east-west trending sulphide bearing structure and
another similar east-west trending structure which lies 70 meters
to the north and also hosts sulphide mineralization grading up to
1,300 g/t Ag and 9% copper, but was not tested in this program.
These channel samples are taken from approximately 160 meters below
surface.
In this continuous underground channel sampling
program 117 channel samples were taken from the walls of historical
workings as a continuous horizontal chip sample in 1.5 meter
intervals. The best results run along the strike of a 2 to 3
meter-wide east-west trending structure. The north-south
cross cut yielded no significant results, but did identify a 10
meter-wide halo of 30 to 60 g/t silver mineralization immediately
adjacent to both east-west trending structures.
A drill program utilizing a company owned
Termite drill rig is currently underway to test the grade,
thickness, and continuity of the sulphide mineralization identified
by this channel sampling program. The Termite is capable of
drilling up to 100 meters of HQ diamond core and five drill
stations are presently planned (see figure 2) with more expected to
be added as the drill program progresses.
Tim Barry, President, CEO and director of Silver
Bull states, “The sulphide mineralization identified by the
continuous channel sampling program appears to be hosted in a sub
vertical, two to three meter wide east-west trending structure. The
high grade continuous nature of the mineralization is very
encouraging and remains open along strike and down dip. In addition
to this structure, our mapping has identified another similar
east-west trending structure also around two to three meters wide,
which lies approximately 70 meters to the north and was not tested
with continuous channel samples, but has yielded grab select
samples grading up 1300 g/t silver and 9% copper. Both structures
will be tested by our drill program which is currently
underway. We have yet to identify the feeder zones or
intrusive source of the mineralization we see at Sierra Mojada and
suggests there is significant exploration upside left on the
project. As we vector in on the intrusive source I would expect
mineralization become more ubiquitous and massive.”
Photos accompanying this announcement are
available at:
Figure
1: http://www.globenewswire.com/NewsRoom/AttachmentNg/b6b35370-bc70-4046-a45f-e354008baa3e
Figure
2: http://www.globenewswire.com/NewsRoom/AttachmentNg/4914d231-2d16-4b7f-8efe-b5a0f34be243
Figure
3: http://www.globenewswire.com/NewsRoom/AttachmentNg/3f6a1a2e-2347-4993-9129-9a41a0d2346c
Figure
4: http://www.globenewswire.com/NewsRoom/AttachmentNg/600e693b-9744-4c80-bc5c-c2d33d80db68
About the Sierra Mojada
deposit: Sierra Mojada is an open pittable oxide deposit,
as disclosed in the NI43-101 "Technical Report on the Resources of
the Sierra Mojada Project Coahuila, Mexico" dated June 8, 2015,
with a NI43-101 compliant measured and indicated "global" resource
of 58.7 million tonnes grading 3.6% zinc and 50 g/t silver at a
$13.50 NSR cutoff giving 4.670 billion pounds of zinc and 90.8
million ounces of silver. Included within the "global" resource is
a measured and indicated "high grade zinc zone" within the
Lerchs-Grossman (LG) Optimized Pit of 10.03 million tonnes with an
average grade of 11% zinc at a 6% cutoff, giving 2.426 billion
pounds of zinc, and a measured and indicated "high grade silver
zone" of 19 million tonnes with an average grade of 102.5 g/t
silver at a 50 g/t cutoff giving 62.6 million ounces of silver.
Mineralization remains open in the east, west, and northerly
directions. Approximately 60% of the current 3.2 kilometer
mineralized body is at or near surface before dipping at around 6
degrees to the east.
Sample Analysis and QA/QC: All samples will be
analyzed at Bureau Veritas in Vancouver, BC, Canada. Samples will
be first tested with the "MA300" procedure which analyzes for 36
elements using a 4 acid digestion. Samples with silver values above
100ppm are re-analyzed using the FA350 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 AR402
procedure which is a near total aqua regia digestion. 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 sample shipments to
ensure integrity of the assay process.
About Silver Bull: Silver Bull is a mineral
exploration company whose shares are listed on the Toronto Stock
Exchange and trade on the OTCQB in the United States, and is based
out of Vancouver, Canada. The "Sierra Mojada" project is located
150 kilometers north of the city of Torreon in Coahuila, Mexico,
and is highly prospective for silver and zinc. The technical
information of this news release has been reviewed and approved by
Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a
qualified person for the purposes of National Instrument
43-101.
On behalf of the Board of Directors "Tim Barry" Tim
Barry, CPAusIMM Chief Executive Officer, President and
Director
INVESTOR RELATIONS: +1 604 687 5800
info@silverbullresources.com
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, indicated and
inferred 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 the planned
drill program, ability to add additional drill stations,
significant exploration upside left in the project and ability to
vector in on intrusive source. 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, 2016, as amended, 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.
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