Bayhorse Silver Inc. (“Bayhorse” or the “Company”) BHS: TSX-V, reports additional bonanza grade assay results received from the Company’s recently acquired Bayhorse Mine silver property in eastern Oregon.
As a consequence of the discovery of bonanza silver grades from a sulfosalt-sphalerite vein (the “Vein”) as reported in the Company’s news release BHS2014-01 by independent geologist Dr. G. E. Ray, P.Geol., the Company has conducted a follow-up sampling program on the Bayhorse Mine silver property along an approximately 150 m long zone. Of these samples, seven were submitted to AGAT Laboratories for silver and base metal assays, while the remainder, an additional 60 kg of samples, were sent to Met-Solve Laboratories both for assay and for metallurgical and beneficiation testing. Results of this testing are still pending.
The highest silver grades reported below are samples BHS-01T, 122.13 kg/tonne (122,127 g/tonne or 3,926 oz/tonne), BHS-2T, 86.64 kg/tonne (86,639 g/tonne or 2,786 oz/tonne) and BHS-07T, 37.18 kg/tonne (37,177 g/tonne or 1,195oz/tonne). In addition, sample BHS-03T graded 10.03 kg/tonne (10,025 g/tonne or 322 oz/tonne), BHS-004T graded 7.86 kg/tonne (7,859 g/tonne or 253 oz/tonne), and BHS05T graded 1.44 kg/tonne (1,441 g/tonne or 46 oz/tonne)
Significant grades of Copper, Zinc and Antimony were also reported in the samples with BHS-07T grading 21.5% Cu, 8.41% Zn and 2.98% Sb, BHS-01T grading 15.9% Cu, 8.4% Zn and 1.18% Sb, BHS02-T grading 17.0 % Cu, 6.67% Zn and 2.21% Sb. The samples were taken along a 4-20-cm thick mineralized zone that occupies a faulted rhyolite-andesite contact. This veined fault zone crops out between the ‘new’ 1984 adit and other collapsed adits and upper workings of the historic mine.
Results from the seven samples assayed (BHS-01T – BHS-07T) that were submitted to AGAT labs and reported here are not intended to provide grade for the overall mineralized zone, but were submitted to confirm the extraordinary silver and base metal values earlier reported from this zone, and are tabulated below.
|BHS-01T||Select duplicate Vein sample 5m north of main adit||122,127||15.9||1.18||8.39||3,926||122.13|
|BHS -02T||select duplicate Vein sample 10m north of main adit||86,639||17||2.21||6.67||2,786||86.64|
|BHS -03T||Select sample 30m north of main adit||10,025||14.3||3.60||17.7||322||10.03|
|BHS -04T||Select sample at collapsed adit north of main adit||7,859||4.48||0.39||8.96||252.7||7.86|
|BHS -05T||Bleached altered andesite beneath vein||1,441||1.36||0.23||4.06||46.3||1.44|
|BHS -06T||Alteration zone 15m inside main adit||41.3||–||–||0.41||1.3|
|BHS -07T||Select 30 cm channel sample across vein||37,177||21.5||2.98||8.41||1,195||31.18|
(“The Company is classifying these samples as selective by nature and are unlikely to represent average grades of the vein or any deposit”)
Of the 60 kg of samples sent to Met-Solve Laboratories, 9 kg was randomly sampled mineralized andesite, 10 kg consisted of two duplicate high grade channel samples from the Vein, nine 3 kg grab samples were taken from six mineralized occurrences with the 150 m long zone, and one 25 kg bulk channel sample was taken from a 2 m wide by 3 meter long area along the mineralized zone. The Company believes that except for grade, which is known to vary substantially, all the samples obtained are fairly representative of the type of mineralization at Bayhorse.
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
Geological mapping and data analysis of the historic information is ongoing.
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 silver bearing mineralization 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 opt – 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 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.
For further information, please contact:
President and Chief Executive Officer
Bayhorse Silver Inc.
Telephone: (604) 684-3394
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.