Vancouver, British Columbia–(Newsfile Corp. – August 1, 2017) – Bayhorse Silver (TSXV: BHS) (OTC: KXPLF) (FSE: 7KXN) has reopened the silver rich, formerly productive Sunshine mineralized zone, at the Bayhorse Silver Mine in Oregon, in which the company has earned an 80% interest.
The company is also earning a 75% interest in the past producing Bridging the Gap Project, consisting of ASARCO’s historic Crown Point, Silver King, Ranger, Wyoming, Curlew, and Blackhawk silver/lead/zinc mines in Idaho’s Silver Valley.
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Development work at the Sunshine zone has exposed veins, bands, seams and stringers of mineralization across the face, back and ribs of the workings. Silver bearing tetrahedrite (copper) is the main mineral.
The 140-foot long Sunshine zone was last mined in 1926, with historic smelter records showing that 63,470 ounces of silver was recovered from the 2,558 tons mined from the zone.
Development material currently extracted from the zone is being processed and upgraded at the Bayhorse Mine site.
During its brief 1984 mining program, Silver King reported overall removal of 5,718 tons at an average grade of 16.7 ounces per ton or 572 grams per tonne silver from the Big Dog and Junction zones.
In his Examination and Compilation Report dated April 1981, Melvin A Herdrick, Consulting Geologist, stated: “Because mineralization is controlled by stratigraphy, close proximity to the fold axis, and co-incidence of the Sunshine Fault near mineralization, continuity of mineralization is projected to extend more than 600 feet westerly, beyond the previous exposures within the mine. Previous exposures verify that more than 400 feet of ore strike length is exposed from the upper level through the intermediate level. Projections of ore tonnages in the main body, based upon geology, yield a probable tonnage of approximately 160,000 tons within the 7.5 ounce cutoff, having an grade of approximately 17 to 20 ounces of silver per ton.”
Herdrick’s assumptions, parameters and methods used to calculate the grade and tonnage of the reported historic resource are unknown. Bayhorse cautions that 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.
Graeme O’Neill, President & CEO, stated: “The Company is pleased that the mineralization now exposed at both the Sunshine and Junction mineralized zones at the Bayhorse mine is as reported in the substantial historic documentation on the Mine.”
The company recently acquired state-of-the-art ore-sorter equipment. The new equipment, a KSS100, Transmissive X-Ray Ore-Sorter, supplied by Steinert US, has up to a 40 ton per hour sorting capacity, and is extremely cost effective as it does not require any water and has an extremely low power draw.
The shares are trading at $0.155 and with 49 million shares outstanding, the company is capitalized at $7.6 million.
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