April 21, 2017 BHS2017-05
Bayhorse Silver – Ships Ore-Sorter Material To Steinert US – Prepares For Recommencement Of Underground Operations At The Bayhorse Silver Mine, Oregon, USA.
Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse“) has shipped 3,000 kilos ( 6,600lb) of crushed mineralization to Steinert US to refine the Ore-Sorting equipment algorithm settings to ensure maximum Ore-Sorting separation of mineralized from non-mineralized material. By removing non-mineralized material from the process stream before final upgrading, substantial cost savings can be achieved processing.
Subject to financing, the Company is ready to recommence underground operations at the Bayhorse Silver Mine. A highly experienced mining team is currently preparing the mine site for this work. The Company is continuing crushing and upgrading operations.
The Company has incurred approximately US$1,400,000 of expenditures on the Bayhorse Silver Mine Project towards the required US$1,500,000 in property expenditures in order to earn its 80% interest in AMCOR Mining Lease and anticipates the remaining US$100,000 will be completed by the end of may, 2017.
The Company has extended the 20 cent warrants expiring July 31, 2017 for an additional 12 months until July 31, 2018
The Company advises it is not basing its decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability and also advises there is increased uncertainty and specific economic and technical risks of failure associated with its production decision.