Silver Bullet Mines Corp. Provides Update on The Buckeye Mine High Grade Gold, Platinum, and Palladium and Provides First Stage Check of Initial Assays Results
Silver Bullet Mines Corp. Provides Update on
The Buckeye Mine High Grade Gold, Platinum,
and Palladium and Provides First Stage Check
of Initial Assays Results
Burlington, Ontario--(Newsfile Corp. - March 2, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB:
SBMCF) ('SBMI' or 'the Company'). Based on a review of the Company's technical disclosure by staff of
the Ontario Securities Commission the Company is issuing the following update.
On September 26, 2022 and October 18, 2022 the Company disclosed high-grade gold, platinum,
palladium, rhodium, and osmium (the "Bonus Materials") results from the Buckeye Mine from the in initial
lab.
The Company has subsequently received results on or about January 17, 2023 from six referee/check
samples submitted to another independent third-party lab (Activation Laboratories Inc. (Actlabs)) which
puts these previously released assay results into question. These new results indicate an absence of
gold, palladium, and platinum. Please see the table below.
Assay Results
Actlabs
Certificate No.
Initial Lab (ppb)
Actlabs (ppb)
Sample No.
Initial Lab
Actlabs
Au
Pd
Pt
Au
Pd
Pt
I342175
2210001-11
A22-18646
22900
10400
61
2
< 5
< 5
I342176
2210001-10
A22-18646
30600
13600
70
3
< 5
< 5
I342177
2210001-1
A22-18646
14600
18900
50
4
< 5
5
I342178
2210001-12
A22-18646
81700
15900
93
< 2
< 5
< 5
I342179
2210001-8
A22-18646
31800
16009
93
5
< 5
< 5
I342180
(Duplicate)
2210001-1
A22-18646
14600
18900
172
< 2
< 5
< 5
I342181
(Standard)
A22-18646
88
683
581
I342182 (blank)
A22-18646
< 2
< 5
< 5
Notes:
1)
Standard used for sample I342181 was CDN-PGMS-29 a certified reference material with expected values of Au (88 ppb), Pd (677 ppb), and Pt
(550 ppb)
2)
Blank used for sample I342182 was barren silica material.
Investors should not rely on the assay results previously reported by the Company on September 26,
2022 and October 18, 2022.
In addition, the Company's November 3, 2022 news release indicated that assay results from samples of
diabase at several locations near and in the Buckeye Silver Mine were received and were being
considered and would be disclosed to the public as soon as possible. Based on six referee/check
samples noted above, the Company does not intend to disclose these results as they are considered
unreliable at this time.
The Company has engaged and sent samples to another independent certified lab (
Third Lab
). The
Third Lab is performing check assay results using the same analytical method as the initial lab. Such
results will be disclosed immediately upon receipt.
The QAQC set out below is important as Actlabs that completed the check assays followed an analytical
process different from the initial lab that produced the data reported by the Company on September 26,
2022 and October 18, 2022.
QAQC
The Company had retained representative material from which each of the initial lab samples were
obtained. A total of 6 samples inclusive of one duplicate were selected by the Company's QP, Robert G.
Komarechka P.Geo., from this material and secured in sealed and labeled sample bags and delivered
to a local courier in Globe, Arizona who then forwarded the samples on to Actlabs in Thunder Bay. The
shipment also included duplicates, standards and blanks. In addition, Actlabs also used its own
standards, blanks and duplicates. Actlabs undertook assaying of these 6 samples using ICP (induced
coupled plasma) followed by OES (optical emission spectroscopy) analysis. This is a different analytical
analysis used by the initial lab which was by MS (mass spectroscopy). SBMI is investigating whether the
difference in process could explain the discrepancy in results.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/156969