Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver
Bull”) is pleased to provide results from its continued underground
drill program targeting the newly discovered Sulphide Zone, which
sits under the previously defined oxide zone on the Sierra Mojada
Project in Coahuila, Northern Mexico.
Highlights from the four holes announced in this
news release include:
- Hole T17003 – 16 meters @ 396g/t silver and 1.61%
copper including 5 meters @ 379g/t silver and 3.25% copper from 0
meters to 5 meters, and 6 meters @ 610g/t silver and 1.12% copper
from 10 meters to 16 meters.
- Hole T17004 – 7 meters @ 370g/t silver and 0.85%
copper. Hole hit historical workings and was
terminated
- Hole T17006 – 4.8 meters @ 352g/t silver and 0.58%
copper. Hole hit historical workings and was
terminated
The Sulphide Zone: A continuous
underground channel sampling program conducted by Silver Bull
during the month of August 2017 identified a series of east-west
trending high angle structure hosting sulphide mineralization
(announced in a news release on 11 September 2017). Results from
the continuous channel sampling program yielded 31.5 meters grading
at 22.36% zinc, 134.5g/t silver, 2.05% lead, 0.21% copper and 10.5
meters @ 432g/t silver, 1.15% zinc, 0.05% lead, 1.22% copper and is
the target of the current drill program
The Drill Program: For the
drill program Silver Bull is utilizing a company owned Termite
drill rig which aims to test the grade, thickness, and continuity
of the sulphide mineralization identified by the channel sampling
program. The Termite is capable of drilling up to 100 meters of NQ
diamond core and five drill stations are presently planned with
more expected to be added as the drill program progresses.
Assays for the holes are as follows:
Hole_ID |
Hole Length (m) |
From (m) |
To (m) |
Interval (m) |
Ag (G/T) |
Cu (%) |
T17003 |
60.65 |
0 |
16 |
16 |
396 |
1.61 |
including |
0 |
5 |
5 |
379 |
3.25 |
and |
10 |
16 |
6 |
610 |
1.12 |
T17004 |
10 |
0 |
7 |
7 |
370 |
0.85 |
T17005 |
31 |
No significant results |
T17006 |
7.5 |
0 |
4.8 |
4.8 |
352 |
0.58 |
|
|
|
|
|
|
|
Tim Barry, President, CEO and director of Silver
Bull states, “The results from this batch of drilling in the
sulphide zone are exceptional. The consistent high grade
silver-copper mineralization we see in this particular area is
hosted along a steeply dipping fault and remains open down dip and
in the east and west directions. From what we now know, it has also
become apparent that this zone is severely underrepresented in
historic drilling as the historic surface drill holes in this area
are vertical, meaning that unless they were drilled directly down
the steeply dipping structures we are currently defining, any
drilling in this area would have completely missed these very high
grade zones. As we understand more about this area we can now
project the mineralization into the extensive channel sampling and
drilling completed at the eastern end of the deposit and show a
target over 3 kilometers in strike length. When you consider this,
coupled with the fact we have identified at least two other
structures similar in grade of mineralization, dip and orientation,
it presents a very significant target and only adds to the sulphide
story at Sierra Mojada. In addition to the drilling, work is
currently underway to access some of the underground workings
further east to confirm the style of mineralization.”
A summary of the results are shown in the maps
below.
Figure
1: http://www.globenewswire.com/NewsRoom/AttachmentNg/50ba4136-6338-407d-bdb0-a9ab21e03740
Figure
2: http://www.globenewswire.com/NewsRoom/AttachmentNg/786e9035-8b12-4494-857f-92a92b7a4b34
Figure
3: http://www.globenewswire.com/NewsRoom/AttachmentNg/1b6c7ec2-3acc-4365-8779-308377233019
Figure
4: http://www.globenewswire.com/NewsRoom/AttachmentNg/a71517ed-aeab-47c3-8acc-08431a01b692
Figure
5: http://www.globenewswire.com/NewsRoom/AttachmentNg/359e6f4c-dfc9-4083-b6d3-b5e68707c51c
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 50g/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 102.5g/t silver
at a 50g/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 and target
over 3 kilometers in length. 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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