(MENAFN- Newsfile Corp) Bayhorse Silver Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - November 6, 2018) - Bayhorse Silver Inc, (TSXV: BHS) (The "Company" or "Bayhorse") reports on operations at its 100% controlled Bayhorse Silver Mine (the "Mine"), Oregon, USA.
On September 24, 2018 the Company issued a news release on a National Instrument (NI)-43-101 Maiden Inferred Mineral Resource for its 100% controlled Bayhorse Silver Mine, Oregon, USA. The maiden resource is comprised of 292,300 short tons at an average grade of 21.65 (673.4 g/t) troy ounces per ton (opt) silver (Ag) for total contained silver of 6,328,400 ounces.* The mineralized material contains significant amounts of copper (Cu) and zinc (Zn), however the historic data utilized in the mineral resource estimate did not allow for a reliable estimation of Cu and Zn grades.
As at the end of October, 2018, Bayhorse reports it has expended a total of US$6,100,000 dollars on rehabilitation and new development at the mine along with the excavation of over 1,100 feet of underground haulage-ways and drifts. A secondary escape-way has been established and the necessary underground services (ventilation, water and air lines) have been installed The Company has also completed the installation of a primary crushing circuit and the Steinert Ore-Sorter. The Company's independent geological consultants have completed an initial phase of geological modelling resulting in the estimation of an NI-43-101 inferred mineral resource of 6,328,400 oz/Ag.*
Highlights Include
Establishing a raise up into mineralization to a new working stope Extracting over 1,200 tons of mineralized material for bulk sample test work Submitting samples of extracted mineralized material for assay and additional metallurgical work Completing an all-weather surface storage area for mineralized material Commenced the moving of the extracted mineralized material to the storage area Commenced the processing of the extracted mineralized material through the Steinert Ore-Sorter Submitted a NI-43-101 Technical Report supporting the maiden mineral resource announced in a news release dated September 24, 2018 to the BCSC for its review Creating a number of short video presentations on aspects of the Bayhorse Mine operation The Company has established an all-weather storage pad outside the main portal, and is ready to erect a cover over the pad to ensure any mineralized material stored outside the Mine for processing through the Company's Steinert Ore-Sorter, will not be affected by winter conditions, such as snow and ice.
Since reopening the western end of the underground workings the Company has inspected and rehabilitated a number of the historic slusher drifts that were installed by Silver King Mines in the 1980's in preparation for mining the western zone of the deposit, much of which is unmined. The historical western most workings comprise a horizontal distance of about 320 feet (~95 m) from the western end of Big Dog Zone. The mineralization is flat lying to shallow south dipping above the main historic haulage-way for approximately 30 - 40 feet. To the north, the mineralization then appears to incline upward toward the north at approximately 45 to 70 degrees for another 60-70 feet for a total horizontal across strike width of approximately 100 feet. The southern end of the flat lying area of mineralization appears to dip to the south. An underground drilling program is proposed to test the north and south extensions to the mineralization.
Storage Pad
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