Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver Bull”)
is pleased to provide results of 5 drill holes 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 five holes announced in this
news release include:
- Hole T17013 – 17 meters @ 301g/t silver and 1.75%
copper including 4 meters @ 502g/t silver and 2.14%
copper.
- Hole T17014 – 7.1 meters @ 163g/t silver and 0.57%
copper & 1.7 meters @ 197g/t silver and 1.27% copper. Hole hit
historical workings and was terminated
- Hole T17015 – 1 meter @ 312g/t silver and 1.83% copper
at 67 meters at the end of the hole. The 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% and is the
target of the current drill program.
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 reported are as
follows:
|
|
|
|
|
|
|
|
Hole ID |
Hole Length (m) |
From |
To |
Interval |
Ag (G/T) |
Cu (%) |
Comments |
T17011 |
39.65 |
No significant results |
|
T17012 |
43.75 |
No significant results |
|
T17013 |
40.5 |
0 |
17 |
17 |
301 |
1.75 |
Includes 4 meters @ 502g/t Silver and 2.14% copper |
T17014 |
31.7 |
0 |
7.1 |
7.1 |
163 |
0.57 |
|
30 |
31.7 |
1.7 |
197 |
1.27 |
Hole hit old workings – ended in mineralization |
T17015 |
70.25 |
66 |
67 |
1 |
312 |
1.83 |
Hole hit old workings – ended in mineralization |
|
|
|
|
|
|
|
|
Tim Barry, President, CEO and director of Silver
Bull states, “We are very pleased with the continued excellent
results from our underground drill program in the sulphide zone.
The high grade silver-copper mineralization seems to be hosted
along favorable bedding horizons that have been steepened by an
over lying thrust fault. Both the thrust fault and the favorable
bedding horizons can be traced for over 5 kilometers along the
entire deposit and suggests there is significant potential to
expand the high grade silver-copper mineralization by targeting
these geological features. In addition recent channel samples in
two new zones of very high grade zinc sulphide mineralization
grading up to 30% zinc identified in recently reconditioned
underground workings sit along trend to the west of the current
drill program (announced 10 January 2018) and suggest significant
scope to expand high grade zinc mineralization into this areas.
Work is currently underway to identify drill pads to target these
areas. Continued results from the drill program are expected out
over the next month.”
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 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 and ability to expand the high grade silver-copper
mineralization and high grade zinc mineralization. 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, 2017, 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:
http://www.globenewswire.com/NewsRoom/AttachmentNg/fa3ca847-ca57-45de-8bfd-756f646ee60e
http://www.globenewswire.com/NewsRoom/AttachmentNg/729b564c-c7bb-4191-95d7-36f1579ced54
http://www.globenewswire.com/NewsRoom/AttachmentNg/4ed70e66-0ff1-4158-b132-3c3ebc0ecd99
http://www.globenewswire.com/NewsRoom/AttachmentNg/3eb0c499-c965-4e41-9cea-54d2dcaac6da
http://www.globenewswire.com/NewsRoom/AttachmentNg/40f63745-44cd-4b55-bc47-26c6c8ef2798
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