Bayhorse Silver Mobilizes FOR Its Brandywine GOLD-Silver Volcanogenic Massive Sulphide (VMS) Drilling Project – Announces Private Placement
June 17, 2020 BHS2020-11
BAYHORSE SILVER MOBILIZES FOR ITS BRANDYWINE GOLD-SILVER
VOLCANOGENIC MASSIVE SULPHIDE (VMS) DRILLING PROJECT –
ANNOUNCES PRIVATE PLACEMENT
Bayhorse Silver Inc. (BHS: TSX-V) (the “ Company” or “ Bayhorse”) has commenced
mobilization on its readily accessible Brandywine, Go ld, Silver and Volcanogenic Massive Sulphide
(VMS) project, 35km north of Squamish, BC. A minimum 1,500 m (5,000 ft) diamond drill program
is planned.
The Dave’s Pond high-grade gold-silver zone lies in the center of the 1,450 Ha Brandywine project.
Ten (10) diamond drill holes are planned under the supervision of Apex Geoscience. In the 1995
LaRock and 2010 Auramex drill programs respectively, as verified by C..Baldys, P.Eng a Qualified
Person, in his June 2020 QA/QC Report, gold intersections sampled in drill core in this zone assayed
36.9 g/t over 1.52 m (5 ft) and 14.4 g/t over 3.4 m (11 ft) including 1.52 m ( ft) of 20 g/t (Dunn,
2002, 2010) (Baldys 2019)
Visible gold in core from 2010 drill core resampling (The photo is of a selected interval that is not necessarily
representative of the mineralization hosted on the property)
On the VMS portion of the 1,450 Ha Brandywine Pr oject, at the Silver Tunnel and Main Zone,
approximately 1 km south of Dave’s Pond, work in 1967 included a 50 ton bulk sample grading 83.1
g/t gold, 354 g/t silver, 9.9% lead, 7.4% zinc, 0.30% copper per ton of the material that was shipped
to East Helena, Montana (Melling, 1994, Walus 2011).
Additionally, a 500 ton sample grading 14.2% lead, 12.5% zinc, 339 g/t silver, and 2.57 g/t gold per
ton was shipped to the Cominco Smelter in Trail in 1977 (Walus, 2011, Melling, 1994).
Bayhorse CEO Graeme O’Neill comments “with visible gold present at Dave’s Pond gold-silver
zone at shallow depths (known gold intercepts from between 10 to 30 meters) and the widespread
gold and silver in the VMS portion, identified by the results of Placer Dome’s extensive soil
sampling, we anticipate early results from our dill program”
The Company has posted on its website the re cently completed 2020 QA/QC Report on re-assaying
of gold-silver intercepts from the historical drill core from the Dave’s Pond portion of the project.
The VMS portion of the Brandywine deposit conceptu ally falls within a cl ass of high gold-silver
volcanogenic massive sulphide deposits that incl ude the Eskay Creek depos it of northern British
Columbia; the Green’s Creek deposit on Admiralty Island near Juneau, Alaska; the Bawdwin deposit
in Myanmar; and the Rosebery deposit of Tasmania. This family of deposits is particularly silver and
lead rich with important gold, zinc, copper and othe r metal values (the comparisons noted are strictly
for deposit model comparisons and are not necessarily i ndicative of the minera lization hosted on the
property).
The Company is not basing any decision to produ ce on a feasibility study of mineral reserves
demonstrating economic and technical viability and advises there is an increased uncertainty and
specific economic and technical risk of failure with any production decision. These risks include, but
are not limited to, (i) a drop in price of commoditie s produced, namely silver, copper, lead and zinc,
from the pricing used to make a production decision; (ii) failure of grades of the produced material to
fall within the parameters used to make the produc tion decision; (iii) an in crease in mining costs due
to changes within the mine during development and mining procedures; and (iv) metallurgical
recovery changes that cannot be anticipated at the time of production.
Subject to the TSX-V Exchange approval, th e Company announces a 10 million Unit private
placement consisting of 5 million flow through Un its for gross proceeds of $625,000 and 5 million
non-flow through Units for gross proceeds of $400,000. Each flow-through Unit will consist of one
common share at $0.125 cents and one transferable common share purchase warrant exercisable at
$0.20 cents for two years from date of issuance. Each non-flow-through Un it will consist of one
common share at $0.08 cents per share and one transferable common share purchase warrant
exercisable at $0.18 cents for two years from date of issuance.
In addition to any other exemption available to the Company, participation in the non-brokered
financing is also open to all existing shareholders, even if not accredited investors, under the
"existing shareholder" exemption of National Instrument 45-106 as promulgated in Multilateral CSA
notice 45-313 in participating jurisdictions.
The funds raised are for the purpose advanc ing the Company’s Brandywine project and for
optimizing the metallurgical work on the silver re covery from the upgrading, processing and refining
of silver mineralization from the Bayhorse Silver Mine, Oregon, USA., as well as general and
administrative purposes.
Finder fees may be payable on a portion of the financing not taken down by insiders according to the
policies of the TSX-V Exchange.
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.Geo., a Qualified Person and
Consultant to the Company has prepared, supervised the preparation of, and approved the technical
content of this press release.
On Behalf of the Board,
Graeme O’Neill, CEO
1-866-399-6539
About Bayhorse Silver Inc.
Bayhorse Silver Inc. is an exploration and producti on company with a 100% interest in the historic
Bayhorse Silver Mine located in Oregon, USA, and an option on the Brandywine, precious metals
rich, volcanogenic massive sulphide property lo cated in B.C., Canada. The Company has an
experienced management and technical team with extensive mining expertise surrounding
exploration and building mines.