Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver Bull”)
is pleased to provide results of 7 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 seven holes announced in
this news release include:
- Hole T17022 – 6 meters @ 802g/t silver, 5.87% zinc,
3.3% copper, and 0.54% lead.
- Hole T17019 – 2 meters @ 1,300g/t silver, 13.52% zinc,
3.87% copper, and 2.95% lead.
- Hole T17021 – 6 meters @ 5.8% zinc, and 0.47%
copper.
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, and 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.
Hole ID |
Hole Length (m) |
From (m) |
To (m) |
Intercept length (m) |
Ag (g/t) |
Zn (%) |
Cu (%) |
Pb (%) |
T17016 |
73.1 |
no significant results |
T17017 |
20.05 |
12 |
14 |
2 |
70 |
0.06 |
0.25 |
0.043 |
T17018 |
60 |
no significant results |
T17019 |
57.25 |
0 |
2 |
2 |
1300 |
13.52 |
3.87 |
2.95 |
T17020 |
74.8 |
2 |
6 |
4 |
10 |
4.27 |
0.044 |
0.029 |
T17021 |
40.2 |
0 |
6 |
6 |
6 |
5.8 |
0.47 |
0.07 |
T17022 |
34.3 |
0 |
6 |
6 |
802 |
5.87 |
3.3 |
0.54 |
Tim Barry, President, CEO and director of Silver
Bull states, “We are extremely pleased with the results from this
batch of drilling. The new sulphide zone is proving to be very
productive for high grade sulphide mineralization. The drilling
summarized in this news release targeted the second of three
steeply dipping, discreet structures we have identified in the
sulphide zone. Drilling from the first structure announced in the
previous news releases of holes T17001 to T17014 were dominated by
high grade silver-copper sulphide mineralization grading up
1,300g/t silver and 6% copper. A second structure defined by holes
T17010 and T17018 to T17022 is dominated by extremely high zinc
sulphide mineralization, grading up to 48% zinc and suggests a
metal zonation in the mineralization. In addition to the area
currently being drilled we have opened up an additional 350 meters
of historical workings along the east-west trend of the sulphide
mineralization which was announced in January 2018. This channel
sampling program clearly shows the continuation of high grade
mineralization towards the west. Our underground geological mapping
of this area 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. This will be the next target of
our drill program in this area.”
A summary of the results are shown in the maps
below.
Figure
1: http://www.globenewswire.com/NewsRoom/AttachmentNg/5e1ebc22-e13c-4ec8-8641-82108ae2ace0
Figure
2: http://www.globenewswire.com/NewsRoom/AttachmentNg/bb5bb44a-1a49-4728-80ca-c81f1d735b65
Figure
3: http://www.globenewswire.com/NewsRoom/AttachmentNg/4ffa3b06-2fa9-4552-b107-942ef810adf9
Figure
4: http://www.globenewswire.com/NewsRoom/AttachmentNg/049764b2-0cf8-40f6-a227-053ffd3317e6
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 identify additional high grade
sulphide 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.
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