Bayhorse Silver Mine Work Program and Assay Results
March 31 2014 - 7:30AM
Marketwired Canada
Bayhorse Silver Inc. ("Bayhorse" or the "Company") (TSX VENTURE:BHS) reports
that it has entered into an Agreement with American Mining and Tunneling ("AMT")
to conduct prepatory work on the Bayhorse Silver mine property recently acquired
by the Company in eastern Oregon.
AMT has completed a survey by its safety team and is in the process of
mobilizing to the project where, among other things, it will rehabilitate the
adit to ensure the adit is safe for access, and conduct such other work to
enable the Company's geologists to sample the underground workings in a safe
manner in order for the Company to confirm the historical reported grades and to
conduct other geological sampling and mapping.
The Company has received preliminary results from Met-Solve Laboratories on the
recent bulk sample that was taken from the low grade stockpile that remains on
the property from the 1984 mining program as well as from additional sampling.
Approximately 250 kg of material was taken from ten (10) evenly spaced pits on
the low grade stockpile, of which 170 kg was combined into one sample for
assaying. The head grade of the combined sample was 184 grams/tonne (5.92
oz/tonne) which is consistent with the historic reports that 6% of the ore mined
grades less than 6 ounces/ton (205.7 g/mt)
Four channel samples totaling 40.6 kg taken from an outcropping mineralized zone
were also submitted to Met-Solve Labs for assay and metallurgical testing.Sample
GV301 graded 5,601 g/t Ag, (180 oz/t or 5.6 kg/ton), GV302-1 graded 17,757 g/t
Ag, (571 oz/t or 17.57 kg/t), GV302-2 graded 14,876 g/t (478/oz/t or 14.88
kg/t), and GV304 graded 1,421 g/t Ag (45.7 oz/t or 1.4 kg/t)
These samples and grades are tabulated below. The 170 kg composite plus an
additional composite containing the 40.6 kg composite (averaging 5,330 g/t) as
reported above, and an additional composite of 10.76 kg of mineralized material
(averaging 3,370 g/t Ag), for a total of 51.16 kg are to be tested for silver
recovery by flotation methods. These will be reported once received from the
lab.
----------------------------------------------------------------------------
Ag Ag Ag
----------------------------------------------------------------------------
Sample
number Sample Type g/t oz/tonne kg/t
----------------------------------------------------------------------------
GV301 15 ft channel sample of ore from an
andesite alteration horizon around the
main vein 5,601 180 5.6
----------------------------------------------------------------------------
GV302-1 Select channel sample of a mineralized
zone 4 ft long x 1 ft wide 17,757 571 17.57
----------------------------------------------------------------------------
GV302-2 Select channel sample of a mineralized
zone 3.5 ft long x 1 ft wide 14,876 478 14.88
----------------------------------------------------------------------------
GV304 Sample of a mineralized andesite zone 15
ft long x 3 ft wide below the main vein 1,421 45.7 1.4
----------------------------------------------------------------------------
("The Company is classifying these samples as selective by nature and are
unlikely to represent average grades of the vein or any deposit")
The highest silver grades reported in the Company's news release BHS2014-01 were
in samples GRBH-20, 150.4 kg/tonne (150,370 g/tonne or 4,385 oz/tonne) and
GRBH-19, 88.2 kg/tonne (88,206 g/tonne or 2,836 oz/tonne). In addition samples
GRBH-13 graded 1.19 kg/tonne (1,190 g/tonne or 38.26 oz/tonne), GRBH-09, 1.02
kg/tonne (1,020 g/tonne or 32.79 oz/tonne), GRBH-02, 0.9 kg/tonne (902 g/tonne
or 29.0 oz/tonne) and GRBH-03, 0.88 kg/tonne (888 g/tonne or 28.55 oz/tonne
Historic Information:
The Company advises that the following information is of a historic nature.
Historic production estimates, drill information and grades reported have not
been verified; A qualified person has not done sufficient work to verify the
historical estimates nor classify the historical estimates as current mineral
resources or mineral reserves and the Company is not treating the historical
estimates as current mineral resources or mineral reserves. (ounces/grams
conversion is one ounce/short ton = 34.2857 grams/metric ton)
As "stated in the minerals production yearbook" (Jacobsen, 1959), total reported
historic production from the Bayhorse Mine through 1959 was 286,000 ounces of
silver from 8,300 tons of ore for an average of approximately 34.5 opt Ag (1,183
g/t Ag) while Herdrick (1981) estimated remaining shipping ore at a 7.5 opt Ag
cutoff to be 166,208 tons, and on-site mill ore at a 3 opt Ag cutoff to be
473,350 tons.
According to other more recent reports in 1984, 90 underground drill holes
totaling 15,000 feet reportedly delineated 26,000 tons of silverbearing ore of
which 5,718 tons were reported being produced at an average grade of 16.7 opt Ag
(572.5 g/t Ag), while approximately 20,000 tons at an average of 15 opt Ag
reportedly remained unmined. The historic records also indicate that of the
5,718 tons produced, 23% reportedly graded between 21 - 100 opt Ag, 71%
reportedly graded between 6 - 20 opt Ag and 6% reportedly graded less than 6 opt
Ag. Ancillary copper produced reportedly averaged 1% Cu. The highest reported
grade from the 1984 drilling, sampling and mining program was from a mined
round, containing a tetrahedrite-tennantite-rich vein, that assayed 691 opt Ag
(23,691 g/t) and 15.72% Cu.
ABOUT BAYHORSE SILVER INC.
Bayhorse Silver Inc. is a junior exploration company which is earning an 80%
interest in its newly acquired historic Bayhorse Silver Mine that has the
potential for a substantial silver discovery, and has a 100% interest in its
three major high grade New Zealand gold prospects (Alexander River, Paparoa and
Lyell), in the highly prolific West Coast South Island gold fields of New
Zealand, where it offers investors the potential for a major gold discovery. The
Company has a 30% net profit interest in its prior owned Flagstaff, Washington,
barite mine, and a 15% net profit interest in its prior owned Ivanhoe Creek,
Nevada, bentonite property. The Company has an experienced management and
technical team with extensive exploration expertise.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board
of Directors, which accepts full responsibility for its contents. The contents
of this news release has been reviewed and approved by Dr. Clay Conway, P.Geol.,
and qualified person as recognized by National Instrument NI-43-101 and a
director of the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bayhorse Silver Inc.
Graeme O'Neill
President and Chief Executive Officer
(604) 684-3394
www.bayhorsesilver.com
Ameritrust Financial Tec... (TSXV:AMT)
Historical Stock Chart
From Nov 2024 to Dec 2024
Ameritrust Financial Tec... (TSXV:AMT)
Historical Stock Chart
From Dec 2023 to Dec 2024