Silver Bullet Mines Continues to Assay Super Champ in Arizona for High Grade Silver (508.8 oz/ton)
Silver Bullet Mines Continues to Assay Super Champ in
Arizona for High Grade Silver (508.8 oz/ton)
December 12, 2024 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and
OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) continues to assay high grade silver from the
Super Champ in Arizona.
On November 18, 2024 SBMI reported assay results from the Super Champ, including five
assays returning over 1000 oz/ton silver , with gold visible in the mill concentrates. To ensure
best practices are being followed, t he Company contracted two structural geologists to advise
on sampling the vein to provide the most accurate data of the vein’s average grade. Both
geologists have advised SBMI is following best practices in its continuous sampling and
channeling.
The Super Champ vein pinches and swells between five and eight feet in width at surface.
SBMI has assayed over 100 samples from the exposed vein and immediate area at the Super
Champ, and each sample has contained silver. Since the November 18, 2024 release, chip and
grab samples have assayed as high as 508.8 oz/ton silver, and channel samples across the vein
assayed 76, 78 and 79 oz/ton. A sample from a parallel narrow vein assayed 178 oz/ton.
These results coupled with the other high grade assays give the Company a high level of
confidence that the Super Champ could be a significant asset and provide a great deal of high
grade material to SBMI’s mill. The photo below is an example of the size of massive chunks
of what appears to be high grade mineralization the Company is encountering as it further
exposes the vein.
Material from Super Champ
The Company has exposed the vein at surface by over 1000 feet and reasonably believes the
vein continues both along strike and at depth. Further evidence of past mining ha s been
uncovered, including old timbers that possibly supported historic underground workings and
adits. In light of width, length, and grade of the vein , SBMI has stake d and filed additional
claims along strike and width to cover a large area of probable mineralization.
Like any responsible producer, SBMI maintains its own assay lab at its mill site in Globe,
Arizona. SBMI carries out a continuous assaying program at this assay facility and occasionally
sends check assays to a third party accredited lab for confirmation. Thus far assays from
SBMI’s lab and the third party lab have been comparable, with all the third party assays being
higher in grade.
On November 12, 2024, SBMI announced that as a result of data gathered during the sample
runs carried out in September and October, SBMI was making minor modifications to its 100%-
owned mill to improve efficiencies. The data showed the Super Champ material has
metallurgical characteristics different from the Buckeye Mine material, which differences
required those minor changes. All necessary changes have been made at the mill, allowing more
efficient milling of the Super Champ material to commence. The plan is to begin by processing
50 tons of Super Champ material per day and to increase that daily amount over the coming
weeks.
Mr. Bob Komarechka P.Geo, the Company’s senior geologist, is contemplating a field trip to
Super Champ during the winter of 2025 , to establish an exploration program to map the vein
system and develop a plan that could lead to a drill program to determine the grade and potential
size of the anomaly at depth. That program would likely commence in the early summer of
2025, assuming sufficient capital on hand . Data from such a program could allow SBMI to
establish a maiden resource estimate for the Super Champ compliant with NI43 – 101.
The Company is currently working with a potential client who has reviewed the metallurgical
data as provided by the third party lab, and that potential client has advised SBMI it is preparing
an offer to purchase all the available concentrate. The timing and contents of that offer i s
beyond SBMI’s control. From the Super Champ processed material SBMI intends to produce
dore bars and concentrate.
On May 13, 2024 SBMI closed on a debenture financing. Characteristics of such d ebenture
included that interest would be paid in cash or in common shares of the Company, at SBMI’s
option. For the first six months of the term of the debenture, SBMI has opted to pay such interest
in common shares from treasury. The total interest payable for the first six months of the term
of the debenture is $55,426.23. Using the closing price on December 11, 2024 of eleven point
five cents, the Company will issue 481,967 shares in full payment of such interest.
QA/QC
The samples referred to above were taken from surface workings on the Super Champ Vein
and hauled to the Silver Bullet’s millsite in Globe. Readers are cautioned samples are random
by nature and may not be representative of the material at the Super Champ.
All samples above were analyzed by SBMI at its facility near Globe, Arizona. They were
processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot.
Most of the pulverized aliquot was mixed with a flux and flour combination and m elted in a
crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon
cooling, the poured melt was in the form of a metal button and slag, following which a bone
ash cupel was utilized to eliminate the lead in the button to for m a bead. The bead was then
weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to
dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed
description of the process and a picture of the assay lab can be foun d at
https://www.silverbulletmines.com/qaqcassaylab.
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 expectations 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;
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 pathogens create
risks that at this time are immeasurable and impossible to define.