Silver BULL Acquires Crucial Mineral Licence IN the Palomas Negros Area, with Sampling from the New Licence Grading up to 542G/T Silver, 37.95% Zinc, and 14.74% Lead at the Sierra Mojada Project, Coahuila, Mexico.
May 2, 2018 OTCQB: SVBL, TSX: SVB
SILVER BULL ACQUIRES CRUCIAL MINERAL LICENCE IN THE PALOMAS NEGROS
AREA, WITH SAMPLING FROM THE NEW LICENCE GRADING UP TO 542G/T
SILVER, 37.95% ZINC, AND 14.74% LEAD AT THE SIERRA MOJADA PROJECT,
COAHUILA, MEXICO.
Vancouver, British Columbia – Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”)
is pleased to announce it has acquired a new mineral license in the Palomas Negros area, a
prospect that lies 9 kilometers to the northwest of the main deposit at Sierra Mojada. The mineral
license acquired is a 68 hectare historical mineral license that had been cancelled for many years
by the Mexican mining authorities , and consequently had no official owner, but had not been
released for staking until recently. The license covers an area of historical mine workings which
has been followed up by Silver Bull with a channel sampling program targeting a historical 120
meter long by 25 meter wide showing continuous high grade mineralization at surface.
Highlights from the recent new license acquisition and channel sampling program include;
The recently acquired mineral license covers 13 historical mine shafts in the Palomas
Negros area including a 120 meter long x 25 meter wide x 25 meter deep historical
open pit.
Silver Bull’s existing mineral licenses completely surround the newly acquired mineral
license which forms part of the 4 kilometer target previously identified in the Palomas
Negros area.
Select results from the channel sampling program targeting the open pit include:
Sample 25933 @ 542g/t Silver, 2.32% Zinc, 0.5% Lead, 0.01% Copper.
Sample 25934 @ 495g/t Silver, 2.56% Zinc, 0.4% Lead, 0.01% Copper.
Sample 25935 @ 462g/t Silver, 2.87% Zinc, 0.48% Lead.
Sample 25901 @ 120.3g/t Silver, 37.95% Zinc, 1.14% Lead, 0.14% Copper.
Sample 25905 @ 46g/t Silver, 36.52% Zinc, 0.22% Lead, 0.02% Copper.
Sample 25908 @ 11.7g/t Silver, 26.31% Zinc, 0.1% Lead.
Sample 25902 @ 95.1g/t Silver, 20.18% Zinc, 0.78% Lead, 0.12% Copper.
Sample 25906 @ 22.2g/t Silver, 17.36% Zinc, 0.11% Lead, 0.01% Copper.
Sample 25936 @ 396g/t Silver, 2.37% Zinc, 0.51% Lead, 0.0015% Copper.
Sample 25929 @ 361g/t Silver, 13.55% Zinc, 1.91% Lead, 0.06% Copper.
Sample 25913 @ 347g/t Silver, 1.76% Zinc, 3.16% Lead, 0.05% Copper.
Sample 25940 @ 308g/t Silver, 14.58% Zinc, 1.46% Lead.
Sample 25941 @ 288g/t Silver, 10.77% Zinc, 0.54% Lead, 0.01% Copper.
Sample 25911 @ 261g/t Silver, 1.73% Zinc, 1.52% Lead, 0.06% Copper.
Sample 25904 @ 225g/t Silver, 21.33% Zinc, 2.48% Lead, 0.2% Copper.
Sample 25942 @ 218g/t Silver, 4.06% Zinc, 0.46% Lead.
Sample 25903 @ 213g/t Silver, 13.43% Zinc, 0.42% Lead, 0.09% Copper.
Sample 25944 @ 211g/t Silver, 10.01% Zinc, 0.9% Lead, 0.01% Copper.
Sample 25916 @ 194.4g/t Silver, 11.48% Zinc, 6.04% Lead, 0.04% Copper.
Sample 25943 @ 167g/t Silver, 4.72% Zinc, 0.36% Lead.
Sample 25939 @ 157.5g/t Silver, 3.15% Zinc, 0.41% Lead.
Sample 25937 @ 150.1g/t Silver, 2.66% Zinc, 0.28% Lead.
Sample 25909 @ 21.7g/t Silver, 12.3% Zinc, 0.14% Lead, 0.01% Copper.
Sample 25910 @ 41.2g/t Silver, 10.73% Zinc, 0.53% Lead, 0.03% Copper.
Sample 25926 @ 91.1g/t Silver, 6.77% Zinc, 2.51% Lead, 0.01% Copper.
Sample 25914 @ 68.1g/t Silver, 2.41% Zinc, 9.29% Lead, 0.04% Copper.
Sample 25915 @ 71.8g/t Silver, 1.2% Zinc, 14.74% Lead, 0.03% Copper.
Sample 25912 @ 74.1g/t Silver, 1.01% Zinc, 4.87% Lead, 0.02% Copper.
The channel samples outlined in this news release are from the Palomas Negros area at Sierra
Mojada which lies 9 kilometers to the northwest of the main deposit. The channel samples target
a historical open pit 120 meters long x 25 meters deep x 25 meters high. Continuous chip samples
two meters in length were taken along the walls and floor of the pit. The purpose of the sampling
program was to map the geology in the pit, and better understand the grade and controls on the
mineralization. A total of 45 channel samples were taken. Fourteen (14) samples recorded values
over 10% zinc with a peak value of 37.95% zinc, thirteen (13) samples recorded values over 200g/t
silver with a peak value of 542 g/t silver, and twelve (12) samples recorded values over 1 % lead
with a peak value of 14.74% lead. A summary of the results are shown in the table below.
Sample ID Interval (m) Silver (g/t) Zinc (%) Lead (%) Copper (%)
25901 2 120 37.95 1.14 0.14
25902 2 95 20.18 0.78 0.12
25903 2 213 13.43 0.42 0.09
25904 2 225 21.33 2.48 0.22
25905 2 46 36.52 0.22 0.02
25906 2 22 17.36 0.11 0.01
25907 2 16 6.73 0.06 0.00
25908 2 12 26.31 0.10 0.00
25909 2 22 12.30 0.14 0.01
25910 2 41 10.73 0.53 0.04
25911 2 261 1.73 1.52 0.06
25912 2 74 1.01 4.87 0.02
25913 2 347 1.76 3.16 0.05
25914 2 68 2.41 9.29 0.04
25915 2 72 1.20 14.74 0.03
25916 2 194 11.48 6.04 0.04
25917 2 20 0.36 0.04 0.01
25918 2 44 0.21 0.05 0.02
25919 2 51 0.21 0.05 0.04
25920 2 10 0.33 0.03 0.02
25921 2 40 0.90 0.15 0.03
25922 2 29 0.46 0.09 0.02
25923 2 46 1.10 0.24 0.03
25924 2 136 4.49 1.12 0.01
25925 2 57 3.26 0.50 0.01
25926 2 91 6.77 2.51 0.01
25927 2 96 1.77 0.29 0.00
25928 2 120 2.37 0.20 0.03
25929 2 361 13.55 1.91 0.06
25930 2 85 4.76 0.69 0.01
25931 2 41 1.50 0.15 0.00
25932 2 102 5.35 0.71 0.01
25933 2 542 2.32 0.50 0.01
25934 2 495 2.56 0.40 0.01
25935 2 462 2.87 0.48 0.00
25936 2 396 2.37 0.51 0.00
25937 2 150 2.66 0.28 0.00
25938 2 83 1.18 0.11 0.00
25939 2 158 3.15 0.41 0.00
25940 2 308 14.58 1.46 0.00
25941 2 288 10.77 0.54 0.01
25942 2 218 4.06 0.46 0.00
25943 2 167 4.72 0.36 0.00
25944 2 211 10.01 0.90 0.01
25945 2 86 5.54 0.94 0.01
The Drill Program: Silver Bull is utilizing a company owned Termite drill rig to target the sulphide
mineralization. The Termite is capable of drilling up to 100 meters of NQ diamond core and five
drill stations are presently planned with more expected to be added as the drill program
progresses.
Figure 1. Location of the newly acquired mineral license in the Palomas Negros area (shown as blue), in relation to the main deposit identified at Sierra Mojada. Ground
controlled by Silver Bull is shown as red.
Figure 2. Outline of the newly acquired mineral license showing the historical shafts and adits seen on the license. The location of the open pit targeted by the channel
sampling sits in the southwest corner of the license.
Figure 3. Three east-west traverses of continuous channel samples were taken along the walls and floor of the open pit showing wide continuous zones of high grade
mineralization.
Figure 4. Photo of the open pit looking to the north east showing the locations of select channel samples. The pit is 120 meters long x 25 meters wide x 25 meters deep.
Tim Barry, President, CEO and d irector of Silver Bull states, “ It is a huge step forward for the
company to acquire this key mineral license in the Palomas Negros area. The mineralization we
see at Palomas Negros has very strong analogies to the mineralization we see at Sierra Mojada
and is dominated by high grade silver and zinc with lesser lead and copper. Although the
continuity and size of the mineralizat ion at Palomas Negros is yet to be determined, the
consistent high grade mineralization identified by the channel sampling program in the open pit
is extremely encouraging. We see the potential at Sierra Mojada for multiple deposits along the
same trend. Our intention is to continue our step out drilling targeting the high grade sulphide
mineralization on the main deposit at Sierra Mojada, as well as build up a number of near term
drill targets at Palomas Negros for testing later in the year . We now effecti vely have two high
quality projects in the same area.
The drilling on the sulphide zone at the main deposit is currently halted whilst we recondition a
number of the workings. We are using a company owned termite drill rig to target the extensions
to the sulphide zone recently identified from underground, a method which is proving to be
extremely efficient and cost effective. We expect to re commence drilling shortly.”
About the Sierra Mojada deposit : Sierra Mojada is an open pittable oxide deposit with a NI43-
101 compliant measured and indicated “global” resource of 58.7 million tonnes grading 3.6% zinc
and 50g/t silver at a $13.50 NSR cutoff giving 4.670 billion pounds of zinc and 90.8 million ounces
of silver. Including within the “global” resource is a “high grade zinc zone” of 10.03 million tonnes
with an average grade of 11% zinc at a 6% cutoff, giving 2.426 billion pounds of zinc, and a “high
grade silver zone” of 19 million tonnes with an average grade of 102.5g/t silver at a 50g/t cutoff
giving 62.6 million ounces of silver. Mineralization remains open in the east, west, and northerly
directions. Approximately 60% of the current 3.2 kilometer mineralized body is at or near surface
before dipping at around 6 degrees to the east.
Sample Analysis and QA/QC: All samples have been analyzed at ALS Chemex in North Vancouver,
BC, Canada. Samples are first tested with the "ME -ICP41m" procedure which analyzes for 35
elements using a near total aqua regia digestion. Samples with silver values above 100ppm are
re-analyzed using the Ag-GRA21 procedure which is a fire assay with a gravimetric finish. Samples
with zinc, lead, and copper values above 10,000ppm (1%) are re -analyzed using the AA46
procedure which is a near total aqua regia digestion with an atomic abs orption finish.
A rigorous procedure is in place regarding sample collection, chain of custody and data entry.
Certified standards and blanks, as well as duplicate samples are routinely inserted into all sample
shipments to ensure integrity of the assay process.