Silver Bullet Mines Continues to Assay for High-Grade Gold and PGMs
Silver Bullet Mines Continues to Assay for High-Grade Gold and PGMs
October 18, 2022 - Burlington, Ontario – On September 26, 2022 Silver Bullet Mines Corp.
(TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) disclosed it had found
significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate.
To help identify with greater precision the location of the source of the platinum, palladium,
rhodium, osmium and gold , SBMI recently took samples directly from locations around the
Buckeye Silver Mine and the Company’s mill site, including from crushed material, directly from
the vein, from diabase samples from the wall rock and from tailings from the run of lower grade
material. The location from which those samples were taken and their assay results are below:
Assay Results are in Grams per Tonne
Sample ID Au Pd Pt Rh Ir Ru Os
Diabase 1 14.3 23.7 0.246 0.193 0.151 nd 0.415
2 22.3 18.9 0.172 0.076 nd nd 0.333
3 8.17 15.9 0.093 0.083 nd nd nd
4 22.3 18.2 0.097 0.072 nd nd nd
Crushed ore
1 15.1 9.07 nd 0.157 nd 0.949 0.08
2 23.2 11.6 0.064 0.17 nd 0.731 0.063
3 34.1 16.2 0.15 0.115 0.111 0.259 0.129
4 16.2 16.4 0.127 0.118 0.083 nd 0.097
5 37.9 15.6 0.107 0.058 0.278 0.18 0.053
6 26.6 17.9 0.127 0.085 0.08 nd nd
7 25.5 12.1 0.085 0.052 nd 0.265 nd
8 23.9 13.7 0.106 0.069 nd nd nd
Head ore 1 18.8 13.5 0.093 0.062 nd nd nd
2 21.9 11.7 0.06 nd nd 0.218 nd
3 37.2 16 0.105 nd nd 0.137 nd
4 30.6 13.6 0.07 nd nd 0.306 nd
5 22.9 12 0.07 nd nd 0.306 nd
6 24.3 10.4 0.061 nd nd 0.251 nd
Tailings 1 18.5 12.2 0.079 0.064 nd 0.211 nd
2 19.9 11.5 0.063 0.068 nd 0.272 nd
3 28.8 16.5 0.091 nd nd 0.174 nd
4 26.8 16.2 0.085 0.104 nd nd nd
5 37.1 16.9 0.102 0.083 nd nd nd
6 31.8 17.2 0.093 0.051 nd nd nd
Samples from all locations above were taken to be as representative of the local mineralized
material as possible. Samples taken from the crushed ore are by their nature representative of the
source mineralized material.
In management’s opinion, this round of results provides further strong evidence for the conclusion
that the Buckeye Silver Mine may host economic amounts of platinum, rhodium, palladium,
osmium and gold, in addition to the original silver targets. Management has engaged third party
engineers, metallurgists and geologists to assist in creating a new process flow sheet and in
determining the nature of the mineralized material at the Buckeye Silver Mine. Without effecting
selective disclosure , m anagement has also had positive preliminary discussions with potential
financiers, pending the delivery of the flow sheet and a rough budget.
QAQC
For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx
200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL
Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where
the temperature reached 200C with a total cycle time of 40 minute s. Bismuth (Bi) was used the
internal standard. A three -point calibration, plotted through zero was used with excellent linear
correlation for each element. Thus, the lab used an internal and external standards (instrument
calibration). Chain of custody pr otocols were strictly observed. Lone Pine Analytical, as of
September 11, 202 2, is in the process of renewing its ISO /IEC -17025 lab accreditation with a
scope for metals in soils and rocks.
Readers are cautioned that although management has made every rea sonable effort to ensure the
samples are as representative of the local mineralized material as possible, the samples above
(apart from the crushed ore samples) are ultimately random by nature and may not be
representative of the mineralization throughout the Buckeye Silver Mine.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s
work referred to herein, and is the Qualified Person for this release.
For further information, please contact:
John Carter
Silver Bullet Mines Corp., CEO
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward -looking statements as they relate to SBMI and
its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of
future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”,
“anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectatio ns
represented in such forward -looking statements are reasonable, there can be no assurance that they will prove to be
correct.
By their nature, forward -looking statements include assumptions, and are subject to inherent risks and uncertainties
that could cause actual future results, conditions, actions or events to differ materially from those in the forward -
looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the
material risk factors or assumptions used to develop the forward -looking statements. Except as expressly required by
applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future
outcomes that relate to forward -looking statements may be influenced by many factors, including but not limited to:
the impact of SARS CoV -2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA
procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing
of ore; shareholder and regulatory approvals; the presence and quantity of minerals in the Com pany’s properties;
activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings;
income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing;
distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect
of market interest rates on price of securities; and, potential dilution. SARS CoV -2 and other potential global viruses
create risks that at this time are immeasurable and impossible to define.