Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver Bull”)
is pleased to provide results of the final three drill holes from
the first zone of the 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 three holes announced in
this news release include:
- Hole T17023 – 10 meters @ 347g/t silver, 20.7% zinc,
1.25% copper, and 1.35% lead.
- Hole T17024 – 3 meters @ 303g/t silver, 20.1% zinc,
1.53% copper, and 1.18% lead.
- Hole T17025 – 1 meters @ 127g/t silver, 21.1% zinc,
0.29% copper, and 3.14% lead.
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 (%) |
T17023 |
20.8 |
0 |
10 |
10 |
347 |
20.7 |
1.25 |
1.35 |
T17024 |
21.45 |
0 |
3 |
3 |
303.7 |
20.1 |
1.53 |
1.18 |
T17025 |
35.55 |
0 |
1 |
1 |
127 |
21.1 |
0.29 |
3.14 |
Tim Barry, President, CEO and director of Silver
Bull states, “We have identified two distinct zones of high grade
sulphide mineralization that are 4 to 5 meters in width and trend
in a roughly E-W direction. Our recent drilling has extended these
two zones to over 150 meters each along strike. The zone to
the north is dominated by high grade silver, up to 1,300g/t and
high grade copper up to 3.3%, whilst the zone to the south has, in
addition to high grade silver and copper, high grade zinc grading
over 20%. This is interpreted to represent a zonation of metals in
the deposit. In addition to the area recently 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/a68f71ab-1399-4afe-9eff-d20271e9462c
Figure
2: http://www.globenewswire.com/NewsRoom/AttachmentNg/5e87ebc4-2342-4f1e-b7eb-a69f4584f3f2
Figure
3: http://www.globenewswire.com/NewsRoom/AttachmentNg/86815921-998a-4f1b-9b64-94175954a8b3
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 the continuation of high grade mineralization to
the west. 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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