Silver Bullet Mines Corp. Provides Assay Results from the Buckeye Mine Including a Footwall Assay of 706.6 Ounces per Ton Silver
Silver Bullet Mines Corp. Provides Assay
Results from the Buckeye Mine Including a
Footwall Assay of 706.6 Ounces per Ton Silver
Burlington, Ontario--(Newsfile Corp. - April 4, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI)
("SBMI" or
"the Company") is pleased to provide the following report on its continuous assay program at its
Buckeye Silver Mine in Arizona.
This press release reports the recent assay results from 44 samples. The assays were processed at
SBMI's non-ISO in-house assay facility in Arizona under the supervision of Robert Budd, a metallurgical
engineer whose career in metallurgy began in 1972, and Vic Powers, a certified Arizona assayer. The
assays include samples from four underground areas of the Buckeye Mine, these being: 1) the footwall
of the vein; 2) the recently announced Treasure Room stope; 3) behind the Treasure Room stope; and 4)
the historical tailings.
Five samples, taken from the footwall of the vein from an area covering approximately 14 to 18 inches in
width, provided the following returns (in ounces of silver per ton or oz/t as well as grams per tonne or g/t):
341.8 oz/t or 11,718.95 g/t;
336.2 oz/t or 1,152.95 g/t;
674.0 oz/t or 23,108.76 g/t;
706.6 oz/t or 24,226.49 g/t; and
124.4 oz/t or 4,265.18 g/t;
The average of the remaining 39 samples (including 6 samples of 0.0 oz/t) is as follows:
Treasure Room stope assays (27 samples) - 20.17 oz/t or 691.56 g/t silver
Assays behind the Treasure Room stope (7 samples) - 37.08 oz/t or 1,271.32 g/t silver
Assays from the Treasure Room's historical tailings (5 samples) - 17.9 oz/t or 613.72 g/t silver
The 35-pound sample from the historical tailings.
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The overall average for all the 39 above samples is 22.91 oz/t or 785.63 g/t silver. The high-grade values
from the footwall were not included in the above overall average.
"These are exciting numbers and they provide us with a great deal of confidence in our internal grade
estimates as we move to production", said A. John Carter, SBMI's CEO. "As any responsible producer
would, we will continuously sample and assay as we proceed."
Readers are cautioned that the 44 samples are selective grab samples and may not be representative
of all the material at the Buckeye Silver Mine. The reader is further advised that these preliminary assay
values do not represent a reserve or resource at this time. While significant silver values have been
encountered, the quantity, grade, or metal or mineral content of a deposit has not been categorized as
an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable
mineral resource, reserve or a proven mineral reserve.
The buttons from four of the five footwall assays.
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As it moves into production, SBMI will assay on a daily basis to better enable it to determine the
production head grade of the feed material. SBMI does not intend to report all assays taken daily.
In light of the high-grade values in the assays, the Company has engaged Montana Technical University
to help SBMI optimize an efficient recovery process flow sheet. The capital expenditures being made to
the mill, funded by the recently-completed oversubscribed financing, will also assist in improving
recoveries.
The mill, on permitted patented lands owned by SBMI, is close to completion. Electrical, piping and small
fabrication items remain to be completed before commencement of an anticipated two-week trial
period. During this two-week trial period SBMI will move roughly 1,500 tons of the lower-grade ore to the
mill.
SBMI will move its two boom jumbo and mucker to the Buckeye Silver Mine in anticipation of completion
of ongoing development and commencement of mining.
Please check the Company's website
www.silverbulletmines.com
,
or follow on Twitter
@bulletmines
or at
YouTube "Silver Bullet Mines".
QA/QC
No standards, duplicates or blanks were used or the above 44 samples although management intends
to include such checks in future assay programs. Management also intends occasionally send samples
to an ISO-certified third party lab for confirmation of SBMI's owns lab equipment and processes.
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
.
The Qualified Person for this press release is Mr. Robert G. Komarechka, P.Geo., an independent
consultant, who has reviewed and verified SBMI's work referred to herein.
Mr. Robert G. Komarechka,
P.Geo. co-authored the
NI43-101
compliant report on this property, delivered to the Company in
January, 2021.
Finally, due to a typo, the Company under-reported the number of broker warrants issued as part of its
recent financing. The correct number is 179,130.
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 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/119107