Silver BULL Intersects 294G/T Silver and 0.96% Copper over 25.5 Meters, Including 4 Meters at 966G/T Silver and 2.0% Copper ON the Sierra Mojada Project, Coahuila, Mexico
October 12, 2017 OTCQB: SVBL, TSX: SVB
SILVER BULL INTERSECTS 294G/T SILVER AND 0.96% COPPER OVER
25.5 METERS, INCLUDING 4 METERS AT 966G/T SILVER AND 2.0%
COPPER ON THE SIERRA MOJADA PROJECT, COAHUILA, MEXICO
Vancouver, British Columbia – Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull”)
is pleased to provide the results of the first two drill holes from its underground drill program
targeting high grade structures in the newly discovered Sulphide Zone on the Sierra Mojada
Project in Coahuila, Northern Mexico.
Highlights from the first two drill holes include:
Hole T17002 – 25.5 meters @ 294g/t silver and 0.96% copper including 11.5 meters @
486g/t silver and 1.13% copper from 14 meters to 25.5 meters, and which contains a
smaller interval of 4 meters @ 966g/t silver and 2.0% copper from 15 meters to 19
meters.
Hole T17002 hit underground workings and was terminated in high grade
mineralization.
Hole T17001 – 7 meters @ 121g/t silver and 0.52% copper including 2 meters @
376g/t silver and 3.0% copper from 0 meters to 2 meters.
The Sulphide Zone: An underground geological mapping and continuous underground channel
sampling program conducted by Silver Bull during the month of August identified a series of east-
west trending high angle structure hosting sulphide mineralization (announced in a news release
on 11 September 2017). Results from the continuous channel sampling program yielded 31.5
meters grading at 22.36% zinc, 134.5g/t silver, 2.05% lead, 0.21% copper and 10.5 me ters @
432g/t silver, 1.15% zinc, 0.05% lead, 1.22% copper. This sulphide zone is the target of the current
drill program.
The Drill Program: Silver Bull is utilizing a company owned Termite drill rig to test the grade,
thickness, and continuity of the su lphide mineralization identified by the channel sampling
program. The Termite is capable of drilling up to 100 mete rs of NQ diamond core and five drill
stations are presently planned with more expected to be added as continued mapping in
previously unvisited underground workings and drilling progresses.
The Results: The results from the first two holes confirm the grade and east -west continuity of
the first of three structures to be drilled. It is important to note that d rill hole T17002 was
terminated in high grade mineralization when it hit a previously unmapped stope . Unlike the
other structures sampled in the area, we saw no appreciable lead or zinc in these first two drill
holes and is interpreted to represent either a zoning of the metals in the syst em or a different
pulse of sulphide mineralization all together. The drilling also confirmed the presence of a low
grade halo of silver and copper mineralization up to 10 meters wide and grading up to 90g/t silver
and 0.2% copper . Two other similar east -west trending structures have been identified in the
same area 70 meters to the south and which will be the target of our continued drill program.
A summary of the first two drill holes are shown below.
HOLE ID HOLE LENGTH (M) FROM (M) TO (M) INTERVAL (M) AG (G/T) CU (%)
T17001 63.2 0 7 7m 121 0.52
including 0 2 2m 376 3.0
T17002 25.5 0 25.5 25.5m 294.1 0.96
including 14 25.5 11.5m 485.9 1.13
and 15 19 4m 965.75 2.0
Tim Barry, President, CEO and director of Silver Bull states, “ We are very pleased with the first
two holes of our program which confirm what we are seeing underground with our map ping.
With these first drill holes we have extended the first of the three high grade structures we plan
to drill, another 25 meters to the east and it almost certainly continues as the hole was ended in
high grade mineralization due to hitting an unmapped void. This structure remains open along
strike and down dip. It is also important to note that we appear to be below the oxide zone and
expect to continue hitting sulphide mineralization in this area.”
Summary maps and sections are shown below.
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. This new zone
will be the initial target of the planned drill program.
Figure 2. Plan view of the “Sulphide Zone” and the location of the first two drill holes in Silver Bull’s drill program. The location of section line N3017639 which is shown in
figure 3 can also be seen. Also shown is the mapped mineralization, as well as the results from the continuous channel sampling program announced in September 2017. It is
important to note the east-west structure 70 meters to the south returned very significant zinc and lead results in addition to the silver and copper mineralization. This has
been interpreted to represent either a zoning of metals within the system or a completely different pulse of mineralization to the silver-zinc dominated mineralization we
normally see at Sierra Mojada.
Figure 3. A cross section showing the location of the drill holes in relation to Silver Bull’s NI43-101 resource. The holes sit
approximately 170 meters below the surface in the sulphide zone and remain open at depth and along strike.
About the Sierra Mojada deposit : Sierra Mojada is an open pittable oxide deposit, as disclosed
in the NI43 -101 "Technical Report on the Re sources 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 50g/t silver at a $13.50 NSR cutoff giving
4.670 billion pounds of zi nc 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 north erly 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 were analyzed at Bureau Veritas in Vancouver, BC,
Canada. Samples were 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 the 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 r esources. 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, however 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 ame nded (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 drill program, ability to add
additional drill stations and expectations to continue hitting sulphide mineralization. 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 activities, unexpected variations in ore grade,
types and metallurgy, volatility and level of commodity prices, the availability of sufficient future f inancing, 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 forwa rd-looking
statement, whether written or oral, that may be made from time to time, whether as a result of new information,
future developments or otherwise.