Silver BULL Identifies a New Massive Sulpide Zone Grading up to 1315 G/T Silver, 12.8% Copper, 18.3% Lead and 42% Zinc at the Sierra Mojada Project, Coahuila, Mexico.
August 23, 2017 OTCQB: SVBL, TSX: SVB
SILVER BULL IDENTIFIES A NEW MASSIVE SULPIDE ZONE GRADING UP TO 1315
G/T SILVER, 12.8% COPPER, 18.3% LEAD AND 42% ZINC 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 identified a new zone of high grade massive sulphide at its Sierra
Mojada Project in Coahuila, Northern Mexico.
Highlights from select channel samples in the new sulphide zone include;
Highlights from the channel sampling program include:
Sample 25736 @ 1130g/t silver, 22% zinc, 3.26% lead, 12.8% copper.
Sample 25727 @ 1315g/t silver, 0.05% zinc, 9.0% copper.
Sample 25735 @ 713g/t silver, 3.4% zinc, 0.14% lead, 1.1% copper.
Sample 25805 @ 491g/t silver, 24.7% zinc, 1.6% copper.
Sample 25739 @ 495g/t silver, 7.09% zinc, 2.68% lead, 1.06% copper.
Sample 25728 @ 392g/t silver, 0.4% zinc, 1.8% copper.
Sample 25732 @ 329g/t silver, 42% zinc, 3.2% lead, 1.65% copper.
Sample 25806 @ 277g/t silver, 19.65% zinc, 18.3% lead, 0.7% copper.
Sample 25803 @ 73g/t silver, 19.2% zinc, 4.8% lead, 0.3% copper.
Sample 25802 @ 42g/t silver, 10.5% zinc, 2.4% lead, 0.17% copper.
Sample 25801 @ 33g/t silver, 8.1% zinc, 3.4% lead, 0.1% copper.
The new sulphide zone lies within a 1.4 kilometer long east-west trending
“chargeability high” identified through a gradient Induced Polarization (IP) survey.
This east-west trending zone hosts two other zones Silver Bull has identified with
sulphide mineralization which grade up to 690g/t silver, 35% zinc, 19% lead and 1%
copper as well and also includes Silver Bull’s only significant sulphide drill hole
intercept of 8.45m @ 57g/t silver, 5.45% lead, 16.98% Zinc.
The chargeability anomaly remains open towards the west and coincides with a
convex “roll over” in the sole of a thrust fault identified through drilling and
underground mapping.
The new zone of massive sulphide is accessible via existing historical underground
workings.
The channel samples mentioned in this news release target sulphide mineralization which
grades up into the overlying oxide mineralization of Shallow Silver zone already defined at
Sierra Mojada . The new sulphide zone was identified by accessing and reconditioning
underground workings not previously accessible to Silver Bull. Continuous 1 to 3 meter long
chip samples were taken along the walls of the underground workings . The purpose of the
program was to extend the mineralization of the known sulphide zone , and better understand
the geology and controls on the mineralization, and confirm the overall grades of the sulphide
grades historically mined at Sierra Mojada . Approximately 280 meters of “new” underground
workings were opened up and 19 initial channel samples taken. Eight samples recorded values
over 250g/t silver with a peak value of 1315g/t silver, ten samples recorded values over 7% zinc
with a peak value o f 42% zinc, and six samples recorded values over 3 % lead with a peak value
of 18.33% lead.
Sample ID Length (m) Silver (g/t) Zinc (%) Lead (%) Copper (%)
25727 2.34 1315 0.05 0.01 9.0
25728 2.32 392 0.44 0.07 1.83
25729 2.75 50 0.19 0.03 0.08
25730 2.44 29 0.46 0.19 0.02
25732 1.41 329 42.00 3.22 1.66
25733 1.97 17 0.33 0.04 0.06
25734 1.56 16 0.24 0.03 0.05
25735 1.52 713 3.42 0.14 1.10
25736 1.13 1130 22.20 3.26 12.86
25737 1.32 142 10.50 3.53 0.19
25738 1.51 19 0.98 0.21 0.03
25739 2.00 495 7.09 2.68 1.07
25758 1.60 20 4.63 0.50 0.40
25801 2.00 33 8.08 3.43 0.11
25802 2.00 42 10.48 2.37 0.17
25803 2.00 73 19.20 4.82 0.29
25804 2.00 46 7.22 0.82 0.18
25805 2.00 491 24.70 0.40 1.64
25806 2.00 277 19.65 18.33 0.69
Figure 1. Location of the new sulphide zone of mineralization in relation to the previously defined oxide 43-101 resource previously defined at Sierra Mojada.
Figure 2. Location of the new sulphide zone in relation to the two other known occurrences of sulphide mineralization. All three know sulphide occurrences are located in an
east-west trending chargeability high identified in an Induced Polarization geophysics survey. This geophysics anomaly is over 1.4 kilometers in length and is open to the
west.
Figure 3. Plan View map of the underground working and sample locations for the initial channel sampling program. Mapped zones of continuous mineralization are also
shown. These east-west trending zones will be the target of drill program expected to start at the end of the month to test the continuity of the mineralization along strike
and down dip.
Tim Barry, President, CEO and d irector of Silver Bull states, “The significance of finding sulphide
mineralization at Sierra Mojada is th at it will likely have very straight forward metallurgy and
appears to have a consistently higher grade for silver when compared to our current NI43 -101
compliant oxide resource . We have now defined three separate high grade sulphide
occurrences to form an east-west sulphide target zone 1.4 kilometers long which is open to the
west. The new sulphide zone sits at a level below the already defined oxide mineralization and
has opened up a whole new series of high grade targets . From our underground geological
mapping we see a number of high angle structures up to 2 meters wide containing sulphide
mineralization grading up to 1,300 grams per ton silver, 42% zinc and 13% copper that appear
to feed into the overlying oxide zone. Presently we are planning a more comprehensive channel
sampling and underground drill program using the company owned Termite drill t o test the
continuity along strike and down dip of these very high grade zones . Additionally we will also
aim to test the areas in between these high grade zones to see if there is potential for a bulk
tonnage sulphide target. We expect this drill program to start before the end of the month.”
About the Sierra Mojada deposit : Sierra Mojada is an open pittable oxid e deposit, as disclosed
in the NI43 -101 "Technical Report on the Resources of the Sierra Mojada Project Coahuila,
Mexico" dated June 8, 2015, with a NI43 -101 compliant measured and indicated "global"
resource of 58.7 million tonnes grading 3.6% zinc and 50 g/t silver at a $13.50 NSR cutoff giving
4.670 billion pounds of zinc and 90.8 million ounces of silver. Included within the "global"
resource is a measured and indicated "high grade zinc zone" within the Lerchs -Grossman (LG)
Optimized Pit 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 measured and indicated "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 Bureau Veritas in Vancouver,
BC, Canada. Samples are first tested with the "MA300" procedure which analyzes for 36
elements using a 4 acid digestion. Samples with silver values above 100ppm are re-analyzed
using the FA350 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 AR402 procedure
which is a near total aqua regia digestion.
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 sample
shipments to ensure integrity of the assay process.
About Silver Bull: Silver Bull is a mineral exploration company whose shares are listed on the
Toronto Stock Exchange and trade on the OTCQB in the United States, and is based out of
Vancouver, Canada. The "Sierra Mojada" project is located 150 kilometers north of the city of
Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc.
The technical information of this news release has been reviewed and approved by Tim Barry, a
Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of
National Instrument 43-101.
On behalf of the Board of Directors
"Tim Barry"
Tim Barry, CPAusIMM
Chief Executive Officer, President and Director
INVESTOR RELATIONS:
+1 604 687 5800
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This
press release uses the terms "measured resources", "indicated resources", and "inferred resources" which are
defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized
by the United States Securities and Exchange Commission (the "SEC"). The estimation of measured, indicated and
inferred resources involves greater uncertainty as to their existence and economic feasibility than t he estimation of
proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral
resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to
their existence and economic viability than the estimation of other categories of resources. U.S. investors are
cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be
upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred
mineral resources may not form the basis of feasibility or other economic studies.
Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, howeve r the SEC
normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in
place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press
release may not be comparable to similar information made public by U.S. companies that are not subject NI 43 -
101.
Cautionary note regarding forward looking statements: This news release contains forward-looking statements
regarding future events and Silver Bull's future results that are subject to the safe harbors created under the U.S.
Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the "Securities Act"), and
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and applicable Canadian securities laws.
Forward-looking statements include, among others, statements regarding the planned drilling program, sulphide
mineralization silver grade metallurgy and potential for a bulk tonnage sulphide target . These statements are
based on current expectations, estimates, forecasts, and projections about Silver Bull's exploration projects, the
industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull's management. Words such as
"expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates,"
"continues," "may," variations of such words, and similar expressions and references to future periods, are intended
to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond our control, including such factors as the results of exploration
activities and whether the results continue to support continued exploration act ivities, unexpected variations in ore
grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing,
and other matters discussed under the caption "Risk Factors" in our Annual Report on Form 10 -K for the fiscal year
ended October 31, 2016, as amended, and our other periodic and current reports filed with the SEC and available
on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are
cautioned that forward-looking statements are not guarantees of future performance and that actual results or
developments may differ materially from those expressed or implied in the forward -looking statements. Any
forward-looking statement made by us in this release is based only on information currently available to us and
speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward -looking
statement, whether written or oral, that may be made from time to time, whether as a result of ne w information,
future developments or otherwise.