Vancouver, British Columbia - February 15, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Bayhorse Silver Inc. (TSXV: BHS) ("Bayhorse" or the "Company") is pleased to report high silver assays from the Legend, Sunshine and Big Dog mineralized zones, Bayhorse Silver Mine, Oregon, USA.
A high grade five centimeter chip sample from the Legend Zone, initially identified by XRF, and subsequently confirmed by assay, prompted follow-up cleaning of the area and taking a 20 cm (8 inch) by 75 cm (30 inch) channel sample across a 1.5 meter (5 foot) wide zone in the center of the 20 meter wide mineralized zone, as well as chip samples from both sides of the structure. Assays are pending for these samples as well as for select samples from the recently completed 18 meter raise between the Legend Zone and the Sunshine Zone, and for development material from the Big Dog Zone.
This high grade sampling point from the Legend Zone returned 739.25 oz/t (21,269 g/t) Ag prompting the start of mining at the middle of the east face of the Legend Zone with an easterly 1.5 meter (5 foot) wide drift. Mining from the west face of the Zone will commence shortly, to provide two working faces at the Legend Zone.
Concurrently high grade sampling from the Sunshine Zone raise returned 167.28 oz/t (5,203 g/t) Ag.
Long hole drilling of the Legend Zone drift is underway on the north and south ribs to determine the actual width of the zone. The Legend Zone is open along strike to the east and west, is open both to depth, and upward 18 meters to the Sunshine Zone. Mineralization is fine grained tetrahedrite in veins, stockwork and pods.
All mining projections are based solely on the Herdrick (1981) Report which estimated remaining shipping material to be 166,000 tons at 17 - 20 opt Ag at a 7.5 opt (233 g/t) Ag cutoff for gross contained ounces of between 2,825,000 and 3,324,000 Ag. He further estimated on-site milling material to be 473,000 tons at a 3 opt (93 g/t) Ag cutoff. Testing by Bayhorse with the Ore-Sorter at the Steinert facility in Kentucky has allowed the Company to establish a lower potential cut-off grade of 2.5 opt (77.8 g/t) Ag (News Release BHS2017-14, August 10, 2017).
News release BHS2017-24 reported that mineralization intersected 50 feet below the Sunshine and Junction Zones, 160 and 340 feet respectively from the Mine portal, increased the vertical extent of mineralization to 70 feet from 20 feet in thickness. High silver grades at the Bayhorse Silver Mine have consistently been reported including in News Releases, BHS2014-01, BHS2014-09, BHS2016-10, BHS2016-11, BHS2017-17.
The Company has established a quality control assay program at the Bayhorse Silver Mine. Production samples are split with half placed into a pulverizer, homogenized, dried, and submitted to XRF analysis with the other half retained for comparison. Check samples are sent for assay to a qualified lab. Mine samples reported are split, with one half retained for comparison. Assaying for the samples reported above was undertaken by Metsolve Labs of Langley, BC. The analytical method used for the silver analysis consisted of a 50 gram sample subjected to fire assay with gravimetric finish.
Bayhorse CEO, Graeme O'Neill comments, "Opening up the Legend Zone demonstrates that there is far greater vertical continuity of high grade mineralization than was previously believed and clearly shows the mineralized structures."
The Company advises it is not basing any 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 any production decision.
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.Geol., a Qualified Person and Consultant to the Company has prepared, supervised the preparation of, or approved the technical content of this press release.
On Behalf of the Board.
Graeme O'Neill, President
Bayhorse Silver Inc., a junior exploration company, has earned an 80% interest in the historic Bayhorse Silver Mine, Oregon, USA. Bayhorse 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. The Company has an experienced management and technical team with extensive exploration and mining expertise.
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