Silver BULL Intersects 6 Meters of Sulphide Mineralization Grading 802G/T Silver, 5.87% Zinc, & 3.3% Copper, ON the Sierra Mojada Project, Coahuila, Mexico
February 21, 2018 OTCQB: SVBL, TSX: SVB
SILVER BULL INTERSECTS 6 METERS OF SULPHIDE MINERALIZATION GRADING
802G/T SILVER, 5.87% ZINC, & 3.3% 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 results of 7 drill holes from its continued underground drill program
targeting the newly discovered Sulphide Zone, which sits under the previously defined oxide zone
on the Sierra Mojada Project in Coahuila, Northern Mexico.
Highlights from the seven holes announced in this news release include:
Hole T17022 – 6 meters @ 802g/t silver, 5.87% zinc, 3.3% copper, and 0.54% lead.
Hole T17019 – 2 meters @ 1,300g/t silver, 13.52% zinc, 3.87% copper, and 2.95% lead.
Hole T17021 – 6 meters @ 5.8% zinc, and 0.47% copper.
The Sulphide Zone: A continuous underground channel sampling program conducted by Silver
Bull during the month of August 2017 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 meters @ 432g/t silver, 1.15% zinc,
0.05% lead, and 1.22% copper and is the target of the current drill program.
The Drill Program: For the drill program Silver Bull is utilizing a company owned Termite drill rig
which aims to test the grade, thickness, and continuity of the sulphide mineralization identified
by the channel sampling program. The Termite is capable of drilling up to 100 mete rs of N Q
diamond core and five drill stations are presently planned with more expected to be added as
the drill program progresses.
Hole ID Hole Length (m) From (m) To (m) Intercept length (m) Ag (g/t) Zn (%) Cu (%) Pb (%)
T17016 73.1 no significant results
T17017 20.05 12 14 2 70 0.06 0.25 0.043
T17018 60 no significant results
T17019 57.25 0 2 2 1300 13.52 3.87 2.95
T17020 74.8 2 6 4 10 4.27 0.044 0.029
T17021 40.2 0 6 6 6 5.8 0.47 0.07
T17022 34.3 0 6 6 802 5.87 3.3 0.54
Tim Barry, President, CEO and d irector of Silver Bull states, “We are extremely pleased with the
results from this batch of drilling. The new sulphide zone is proving to be very productive for high
grade sulphide mineralization. The drilling summarized in this news release targeted the second
of three steeply dipping, discreet structures we have identified in the sulphide zone. Drilling from
the first structure announced in the previous news releases of holes T17001 to T17014 were
dominated by high grade silver-copper sulphide mineralization grading up 1,300g/t silver and 6%
copper. A second structure defined by holes T17010 and T17018 to T17022 is dominated by
extremely high zinc sulphide mineralization, grading up to 48% zinc and suggests a metal zonation
in the mineralization. In addition to the area currently being drilled we have opened up an
additional 350 meters of historical workings along the east -west trend of the sulphide
mineralization which was announced in January 2018. This channel sampling program clearly
shows the continuation of high grade mineralizatio n towards the west. Our underground
geological mapping of this area shows 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, 18% lead,
and 13% copper that appear to feed into the overlying oxide zone. This will be the next target of
our drill program in this area”.
A summary of the results are shown in the maps 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. Summary of the drill holes announced to date. This news release focuses on drill holes T17016-T17022. A selection of holes previously announced is also shown for
reference.
Figure 3. Cross section through drill holes T17010 and T17019-T17022. Very clearly the high grade zinc-silver-copper sulphide
mineralization which can be seen sitting underneath the NI43-101 compliant oxide resource (shown in blue) and which
appears to feed up into the oxide zone. Mineralization remains open along strike and down dip.
Figure 4. Location of the new sulphide zone identified through the reconditioning of 350 meters of new underground workings (announced on 10 January 2018) in relation to
the area of sulphide mineralization drilled in 2017 and hole B11144, which intersected 8.45 meters @ 17% Zinc, 5.45% lead, and 60g/t silver. All known 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. These new areas will be the target of the next phase of underground drilling in this area..
About the Sierra Mojada deposit : Sierra Mojada is an open pittable oxide 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 50g/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 cut off 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 abov e 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 absorption 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.
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 resourc es", 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, in dicated 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 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 st udies.
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 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 drill program and ability to
identify additional high grade 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 exploratio n 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 financing, and other matter s discussed
under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended October 31, 2017, 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 new information, future developments or otherwise.