Silver Bullet Mines Corp. (SBMI) Confirms Anomalous Platinum Group Elements (PGE) in Some Samples on Its Richmond Basin, Arizona Property
Silver Bullet Mines Corp. (SBMI) Confirms
Anomalous Platinum Group Elements (PGE) in
Some Samples on Its Richmond Basin, Arizona
Property
Burlington, Ontario--(Newsfile Corp. - March 29, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI)
(OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it has received the assay results
from a third party independent (ISO 17025-2017) accredited lab, American Assay Laboratories. These
are the 'check assays' for material tested and reported in September and October, 2022.
These results
confirm the presence of anomalous platinum group elements (PGE) values in some of the material.
QA/QC
A total of six samples, 6 duplicates, 4 standards and one blank sample were assayed. The samples
were collected by the mine crew from various material at the Buckeye Mine and were crushed and
ground to a powder at the Company's assay lab with the powder retained in marked sample bags. A
portion of each of these bags was retained and a portion was inserted in another labelled bag and then
delivered by a courier in Globe, Arizona to American Assay Laboratories in Nevada. The blank and
standards were included as well. American Assay Laboratories used a similar assay finish procedure as
the first lab, Lone Pine, namely ICP-MS. Lone Pine used a 4 acid dissolution of a 200 milligram sample
and American Assay Laboratories used a sodium peroxide fusion of a 5 gram sample.
To further confirm the presence of platinum a repeat Fire Assay was undertaken. For this method the
sample was fused in a ceramic crucible with litharge, sodium carbonate, borax and flour at 1080°C.
From this a 25-50 gram lead button was cupelled in a magnesite cupel at 900° for 60 minutes. The silver
bead was then parted with concentrated nitric acid followed by hydrochloric acid to generate chlorine
and nitrosoyl chloride that dissolved the PGM sponge. Digested samples were read on an ICP-AES.
The PGE results obtained from American Assay Laboratories were in line with a 1995 historic report
and that of Lone Pine.
American Assay Laboratories assayed for silver, gold, iridium, osmium, palladium, platinum, rhodium
and ruthenium (see chart below). The green highlighted samples relate to standards and the yellow to
blanks.
Table 1
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Based on these results the Company plans to continue its evaluation of the economic potential of PGE
on the Buckeye Mine. Samples within the Buckeye Mine upper adit hydrothermal vein system are in the
process of being sent to Dr. A. Macdonald at Laurentian University for further analysis, and a selective
sampling program is to be initiated. Further testing will be done using ICP-MS as well as NAA (nuclear
activation analysis) when warranted.
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.
The Company also announces that due to time commitments on other projects, J. Birks Bovaird has
resigned from the board of directors. The Company thanks him for his tireless commitment to the
shareholders.
The Company also announces the appointment to the board of John S. MacKenzie, CPA CA. Mr.
MacKenzie will also serve as the board's chair.
Mr. MacKenzie is currently CFO and a founding shareholder of Critical Minerals Americas Inc., a private
exploration stage mining company in Alberta. He is also CFO and a founding shareholder of Evergreen
Environmental Inc., engaged in the anaerobic digestion of organic waste and production and sales of
RNG.
In the past Mr. MacKenzie was for 13 years the CEO of international heavy jet cargo airline AllCanada
Express (ACE) and has since occupied both C-Suite and consulting positions with various mining,
aviation, and technology companies. He has extensive financing, lease, purchase and sales experience
over dozens of transactions and hundreds of millions of dollars of equipment.
Mr. MacKenzie also has ten years of public accounting experience with Clarkson Gordon / Ernst &
Young.
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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