Silver Bullet Mines Corp. Assays 270.6 Ounces per Ton Silver in Upper Vein at Buckeye Mine in Arizona
Silver Bullet Mines Corp. Assays 270.6 Ounces
per Ton Silver in Upper Vein at Buckeye Mine
in Arizona
Burlington, Ontario--(Newsfile Corp. - February 15, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI)
(OTCQB: SBMCF) ('SBMI' or 'the Company') announces strong initial assay results from the interception
of the upper main vein at the Buckeye Mine near Globe, Arizona.
The vein was intercepted approximately 380 feet from the entrance to the adit. Immediately on contact
with the vein, the first significant assays from the vein were 43, 178.6, and 270.6 ounces silver per ton.
The samples yielding these results did not include material from the footwall. The samples were selected
at random from the mineralized material removed from the vein and then were sent to SBMI's assay lab
for processing.
Recent Sample from Buckeye Mine
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The Company is now mining along the exposed vein with assay results pending from the face. SBMI has
extended the workings to 420 feet from the entrance to the adit, the vein is ten feet wide and eleven feet
high, and the footwall is estimated by the field team to be four feet wide.
SBMI has stockpiled in excess of 450 tons of vein material at surface at the Buckeye Mine site, for
shipment to the mill. The Company is mining 150 to 200 tons of mineralized material per day, although
this rate will vary. The Company believes it has achieved the targetted grade necessary to support
processing this material at the Company's mill and to then pour dore bars or create concentrate. Both
the dore bars and the concentrate will saleable product, and the Company does not expect to encounter
any significant difficulties in finding buyers for those products.
SBMI is also pleased to announce it has begun to resolve the issues with pouring dore bars from this
material. The picture below shows a malformed dore bar from September, 2022.
Malformed dore bar from Sept, 2022
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The Company thanks Dr. Andrew Macdonald, a mineralogist with Harquail School of Earth Sciences at
Laurentian University, for his assistance. Initial results from his work indicate the presence of a highly
magnetic iron alloy in the mineralized material. The iron alloy smelts at temperatures of over 3000
degrees F, which is above the silver smelting temperature of roughly 1800 degrees F, and therefore it
interferes with the silver smelting process. SBMI has confirmed this thesis by using a high intensity
magnet to pull the iron alloy from the concentrate prior to smelting. The dore bar below, poured in
February, 2023, resulted from concentrate after the iron alloy was removed.
Dore bar poured after the iron alloy was removed; Feb 2023
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As a result, the Company intends to permanently install a high intensity magnetic separator in the milling
operation to improve the likelihood the Company can smelt silver dore bars. The Company intends to
store the magnetic concentrates for future research. Continued research will be needed.
The Company is still awaiting the check assay results from American Assay Labs and Actlabs.
SBMI's near term goal is to process the higher grade material at the Company's mill to produce saleable
product.
QAQC
All the samples above were collected by SBMI's field team. Samples were collected and placed in
sample bags with their appropriate tag and processed at the Company's own assay lab. Like any
responsible producer, the Company owns its own assay lab and regularly takes samples as part of its
production process.
The samples analyzed by SBMI at its facility near Globe, Arizona 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 melted 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 form 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 found at
https://www.silverbulletmines.com/qaqcassaylab
.
Readers should be aware that the SBMI facilities have been designed for quick production grade control
and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past
samples with good correlation.
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 mineralized material; the presence of mineable economic mineralized material;
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.
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https://www.newsfilecorp.com/release/154863