Bayhorse Silver Select Brandywine Sample of 1 g/t Gold. 7.5 Million Non- Brokered Flow-Through Private Placement
Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse“)
announces, subject to TSX-V Exchange approval, a non-brokered flow-through private
placement for up to 7,500,000 Units at $0.125 per Unit for gross proceeds of $937,500.
Unit will consist of one (1) flow-through common share and one (1) transferable
common share purchase warrant, with each warrant exercisable into one (1)
common share of the Company at an exercise price of $0.20 cents, exercisable
for a period of 24 months from the date of issuance.
addition to any other exemption available to the Company, participation in the
non-brokered financing is also open to all existing shareholders, even if not
accredited investors, under the “existing shareholder” exemption of
National Instrument 45-106 as promulgated in Multilateral CSA notice 45-313 in
Proceeds of the financing are to fund the upcoming exploration program
on the Company’s newly acquire Brandywine gold/silver project.
An airborne VTEM survey is
planned for a nine square kilometer area covering the past historic gold and
silver and base metal mining area on the property, as well as the gold and
silver bearing massive sulphide exploration target identified by historic geochemical
soil sampling and magnetic survey, as disclosed in the Company’s news release, BHS2019-08.
The VTEM survey will identify
targets for a drill program to test the massive sulphide zone at depth.
The readily accessible, 1,432
hectare, brownfield Brandywine deposit has undergone several exploration phases
including bulk tonnage shipments to smelters, extensive drilling, and extensive
geochemical and geophysical studies. (2018
Brandywine Minfile Report)
A recent grab sample taken from
the recently exposed massive sulphide outcrop, 100 meters south of the Placer
Dome’s 1989 gold and silver soil sampling grid, assayed 1 g/t gold and 45 g/t
silver. Grab samples are select samples and are not
necessarily representative of the mineralization on the property
The analytical method used for the silver analysis
consists of 1 Assay Ton (AT) samples subjected to fire assay with gravimetric
finish. Assays were conducted by Christopherson Umpire Assayers of Osburn,
The Brandywine deposit
conceptually falls within a class of high gold-silver volcanogenic massive
sulphide deposits that include the Eskay Creek deposit of northern British
Columbia; the Green’s
Creek deposit on Admiralty Island near Juneau, Alaska; the Bawdwin deposit in Myanmar;
and the Rosebery deposit of Tasmania. This family of deposits is
particularly silver and lead rich with
important gold, zinc, copper and other metal values.
The most definitive indications of the nature of the mineralization on the
property are two reported smelter shipments as follows:
- A 50 ton bulk sample in 1967 grading 83.1 g/t gold,
354 g/t silver, 9.9% lead, 7.4% zinc, 0.30% copper per ton to East Helena,
Montana, smelter from the Silver Tunnel and Main Zone (Melling, 1994,
- A 500 ton sample grading 14.2% lead, 12.5%zinc, 339
g/t silver, and 2.57 g/t gold per ton to the Cominco Smelter in Trail in 1977
(Walus, 2011, Melling, 1994).
The analytical method used for the silver
analysis consists of 1 Assay Ton (AT) samples subjected to fire assay with
gravimetric finish. Assays were conducted by Christopherson Umpire Assayers of
advises that the information is of a historic nature. Historic production
estimates and grades reported have not been verified. A qualified person has
not done sufficient work to verify the
historical estimates nor classify the historic estimates as current mineral resources
or mineral reserves, and the Company is not treating the historical estimates
as current mineral resources or mineral reserves.
This News Release has been prepared on behalf of
the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility
for its contents. Dr. Stewart Jackson, P.Geo., a Qualified
Person and Consultant to the Company has prepared, supervised the preparation
of, and approved the technical content of this press release.
Behalf of the Board.
Bayhorse Silver Inc., a junior exploration company, has earned 100%
interest in the historic Bayhorse Silver Mine Oregon, USA. and has optioned the
Brandywine, precious metals rich, volcanogenic massive sulphide property
located in BC, Canada. The Company has an experienced management and technical
team with extensive exploration and mining expertise.
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.