Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver Bull”)
is pleased to announce it has identified two new zones of high
grade sulphide mineralization at its Sierra Mojada Project in
Coahuila, Northern Mexico.
- Highlights from the channel sampling program
include:
- Sample N342057 @ 30.7% Zinc, 124g/t Silver, 15.8% Lead,
0.26% Copper.
|
- Sample N342060 @ 27.5% Zinc, 80.5g/t Silver, 4.18%
Lead, 0.18% Copper.
|
- Sample N342068 @ 27.2% Zinc, 149g/t Silver, 14.5% Lead,
0.26% Copper.
|
- Sample N342072 @ 26.6% Zinc, 160g/t Silver, 9.23% Lead,
0.33% Copper.
|
- Sample N342063 @ 25.3% Zinc, 105g/t Silver, 4.13% Lead,
0.09% Copper.
|
- Sample N342069 @ 22.2% Zinc, 101g/t Silver, 16.05%
Lead, 0.15% Copper.
|
- Sample N342071 @ 22.1% Zinc, 182g/t Silver, 9.79% Lead,
0.49% Copper.
|
- Sample N342075 @ 21.8% Zinc, 159g/t Silver, 17.6% Lead,
0.36% Copper.
|
- Sample N342064 @ 20.7% Zinc, 146g/t Silver, 4.58% Lead,
0.12% Copper.
|
- Sample N342083 @ 20.6% Zinc, 104g/t Silver, 0.18% Lead,
0.37% Copper.
|
- Sample N342067 @ 20.2% Zinc, 69.5g/t Silver, 4.23%
Lead, 0.12% Copper.
|
- Sample N342074 @ 19.45% Zinc, 90.2g/t Silver, 7.47%
Lead, 0.13% Copper.
|
- Sample N342058 @ 17.25% Zinc, 175g/t Silver, 3.34%
Lead, 0.53% Copper.
|
- Sample N342051 @ 15.65% Zinc, 53.9g/t Silver, 4.91%
Lead, 0.17% Copper.
|
- Sample N342061 @ 14.6% Zinc, 37.9g/t Silver, 2.94%
Lead, 0.13% Copper.
|
- Sample N342059 @ 13.9% Zinc, 32.8g/t Silver, 2.53%
Lead, 0.07% Copper.
|
- Sample N342073 @ 13.55% Zinc, 41.1g/t Silver, 3.03%
Lead, 0.06% Copper.
|
- Sample N342078 @ 11.7% Zinc, 606g/t Silver, 2.16% Lead,
0.40% Copper.
|
- Sample N342065 @ 11.55% Zinc, 113g/t Silver, 4.85%
Lead, 0.23% Copper.
|
- Sample N342070 @ 11.25% Zinc, 18.2g/t Silver, 1.05%
Lead, 0.02% Copper.
|
- Sample N342052 @ 10.2% Zinc, 49.7g/t Silver, 2.3% Lead,
0.06% Copper.
|
- Sample N342053 @ 7.12% Zinc, 25g/t Silver, 1.44% Lead,
0.02% Copper.
|
- Sample N342066 @ 6.77% Zinc, 90g/t Silver, 1.20% Lead,
0.40% Copper.
|
- The new sulphide zones were identified in 350 meters of
previously inaccessible historical underground workings that were
recently reconditioned by Silver Bull.
- The new sulphide zones lie to the west of Silver Bull’s
recent drilling along an east-west trend which includes diamond
core intercepts of 9 meters @ 20.7% Zinc, 98g/t Silver, 1.0% Lead
and 0.26% Copper and 16 meters @ 396g/t Silver and 1.61%
Copper.
- The new zones lie within a 1.4 kilometer long east-west
trending “chargeability high” identified through a gradient Induced
Polarization (IP) survey. The chargeability anomaly remains open
towards the west and coincides with a convex “roll over” in the
sole of a thrust fault identified through drilling and underground
mapping.
The channel samples outlined in this news
release target two new zones of sulphide mineralization recently
identified by accessing and reconditioning underground workings not
previously accessible to Silver Bull. Continuous chip samples up to
2 meters in length were taken along the walls of the underground
workings. The purpose of the program was to extend the
mineralization of the known sulphide zone, and better understand
the geology and controls on the mineralization, and confirm the
overall grades of the sulphide grades historically mined at Sierra
Mojada. Approximately 350 meters of “new” underground workings were
opened up and 39 initial channel samples taken. Twenty one (21)
samples recorded values over 10% zinc with a peak value of 30.7%
zinc, Twenty one (21) samples recorded values over 100g/t silver
with a peak value of 606g/t silver, and nine (9) samples recorded
values over 5% lead with a peak value of 17.6% lead. A summary of
the results are shown in the table below.
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|
|
|
|
Sample ID |
Interval (m) |
Zinc (%) |
Silver (g/t) |
Lead (%) |
Copper (%) |
N342051 |
0.8 |
15.65 |
53.9 |
4.91 |
0.17 |
N342052 |
1.3 |
10.2 |
49.7 |
2.3 |
0.06 |
N342053 |
1 |
7.12 |
25 |
1.44 |
0.02 |
N342054 |
0.7 |
5.38 |
95 |
6.87 |
0.43 |
N342055 |
0.9 |
1.16 |
39.3 |
0.10 |
0.13 |
N342056 |
1.1 |
2.09 |
46.4 |
0.53 |
0.23 |
N342057 |
0.8 |
30.7 |
124 |
15.75 |
0.26 |
N342058 |
1.8 |
17.25 |
175 |
3.34 |
0.53 |
N342059 |
1.7 |
13.9 |
32.8 |
2.53 |
0.07 |
N342060 |
0.8 |
27.5 |
80.5 |
4.18 |
0.18 |
N342061 |
0.8 |
14.6 |
37.9 |
2.94 |
0.13 |
N342062 |
0.7 |
6.23 |
6.7 |
0.49 |
0.02 |
N342063 |
0.6 |
25.3 |
105 |
4.13 |
0.09 |
N342064 |
0.9 |
20.7 |
146 |
4.58 |
0.12 |
N342065 |
1.1 |
11.55 |
113 |
4.85 |
0.23 |
N342066 |
1.2 |
6.77 |
90 |
1.20 |
0.44 |
N342067 |
1.15 |
20.2 |
69.5 |
4.23 |
0.12 |
N342068 |
1 |
27.2 |
149 |
14.5 |
0.26 |
N342069 |
1.1 |
22.2 |
101 |
16.05 |
0.15 |
N342070 |
1.1 |
11.25 |
18.2 |
1.05 |
0.02 |
N342071 |
2 |
22.1 |
182 |
9.79 |
0.49 |
N342072 |
0.8 |
26.6 |
160 |
9.23 |
0.33 |
N342073 |
0.75 |
13.55 |
41.1 |
3.03 |
0.06 |
N342074 |
0.65 |
19.45 |
90.2 |
7.47 |
0.13 |
N342075 |
1.2 |
21.8 |
159 |
17.6 |
0.36 |
N342076 |
0.8 |
3.7 |
461 |
2.06 |
0.55 |
N342077 |
0.7 |
1.23 |
514 |
1.18 |
1.19 |
N342078 |
0.7 |
11.7 |
606 |
2.16 |
0.40 |
N342079 |
1.3 |
2.92 |
116 |
0.75 |
0.35 |
N342080 |
1.2 |
0.66 |
59.9 |
0.11 |
0.20 |
N342081 |
1 |
0.46 |
53.5 |
0.17 |
0.18 |
N342082 |
0.8 |
2.19 |
160 |
1.24 |
0.36 |
N342083 |
1 |
20.6 |
104 |
0.18 |
0.37 |
N342084 |
1.2 |
1.54 |
98.5 |
2.56 |
0.08 |
N342085 |
0.9 |
1.57 |
251 |
5.02 |
0.25 |
N342086 |
1.1 |
2.61 |
242 |
0.77 |
0.37 |
N342087 |
1.1 |
1.49 |
182 |
0.36 |
0.31 |
N342088 |
1 |
0.44 |
178 |
0.21 |
0.27 |
N342089 |
1.5 |
0.33 |
154 |
0.18 |
0.20 |
|
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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% and was the
target of the 2017 drill program. The newly discovered sulphide
mineralization outlined in this news release is interpreted to be
an extension this this mineralization and will be targeted with
drilling in the first quarter of 2018.
The Drill Program: Silver Bull
is utilizing a company owned Termite drill rig to target the
sulphide mineralization. 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. 25 drillholes were completed in 2017 totaling 1086
meters of drilling and continued results from this program are
expected shortly.
Tim Barry, President, CEO and director of Silver
Bull states, “350 meters of historical workings were opened up
along the east-west trend of the sulphide mineralization we drilled
in 2017. This channel sampling program clearly shows the
continuation of high grade mineralization towards the west. Our
underground geological mapping shows a number of high angle
structures up to 2 meters wide containing sulphide mineralization
grading up to 1,300 grams per ton silver, 42% zinc, 18% lead, and
13% copper that appear to feed into the overlying oxide zone. Our
plan for the first part of 2018 is to walk our drill rig along
these newly opened up east-west underground workings with the view
of demonstrating continuity of the mineralization. The
exceptionally high zinc numbers we see in the new area is
consistent with what we see in other areas we drilled in 2017 and
presents an exciting new target. In addition to the continued
drilling along the sulphide trend we expect to have additional
results from our 2017 drill program out to the market shortly.”
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 an 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 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 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,
continuation of high grade mineralization to the west and timing of
future drill results. 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.
Photos accompanying this announcement are available at:
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http://www.globenewswire.com/NewsRoom/AttachmentNg/948aa437-fb24-4456-9037-142fc09a776b
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