Underground Development work has commenced at the intermediate level access to a mineralized zone at the Bayhorse Silver Mine that was the subject of mining operations by Silver King Mines, prior to shutting down production on 1984 due to extremely low silver prices.
The Company has completed rehabilitation of the portal to the intermediate level that was partially mined in 1984. As disclosed in the National Instrument 43-101 Technical Report on the Bayhorse Mine, (link to report at top of page) there is a known mineralized zone (Herdrick 1981) at the Bayhorse Mine reportedly approximately 840 feet in length, 85 feet in width, and 22 feet thick, estimated to contain 160,000 tons of silver bearing mineralization at a reported grade of 17-20 ounces per ton silver at a 7.5 ounce per ton cut off.
(The Company advises 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 and the Company is not treating the historical estimates as current mineral resources or mineral reserves. There can be no assurance that additional work will result in the definition of any current resource or reserve.)
Past sampling that can be relied upon has identified grades as high as 69 oz/t (2,146 g/t) . The Company has confidence in this sampling as it was conducted by the principal of Cordex Mining, Dr. A. Wallace, P. Geo, (Dr, Wallace, of Reno, NV. is a well respected exploration and mining geologist and has been honored as a member of the Mining and Exploration Hall of Fame) and the Company has acquired the data directly from Cordex. (other sampling prior to Cordex has identified grades of up to 260 oz/t Ag ) In 2014 we sampled a bonanza grade of 4,835 oz/ton silver
A short mining program was undertaken in 1984 by Silver King Mines, however, work ceased when the price of silver fell below $5.00 oz and the mine has remained closed until now. The highest reported grade mined from the 1984 program was approximately 70 tons at 691 oz/t Ag.
Category: Mining Exploration