Vancouver, British Columbia--(Newsfile Corp. - September 8, 2022) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF), (FSE: 7KXN) (the "Company" or "Bayhorse") reports that is has completed the previously announced metallurgical sample at the Crane Creek Gold Project, Idaho, USA.
The metallurgical sample of 610 kg (1,340 lb) has been crushed to 25 mm (1 inch) minus at the Bayhorse Mine, bagged, and taken to the Bayhorse Mill in Payette, Idaho, for processing.
The next step is to mill the material to 125 microns (100 mesh) and conduct gravity concentrate tests at which time both the gravity and tailings samples will be submitted for fire assay. Flotation and leaching tests will be conducted on the gravity tailings.
Mineralization at Crane Creek consists of gold and silver bearing arsenopyrite. The intent of the metallurgical testing of Crane Creek mineralization is to determine the flotation and leaching characteristics of the gold-bearing arsenopyrite mineralization.
The metallurgical samples were taken from the previously sampled sites as reported in the Company's news release: BHS2022-16, that returned 33.87 g/t (1.089 oz/t) gold and 136.85 (4.4 oz/t) silver ;26.4 g/t (0.849 oz/t) gold and 140 g/t (4.5 oz/t) silver; 15.3 g/t (0.493 oz/t) gold and 68.42 g/t (2.2 oz/t) silver; and 1.36 g/t (0.044) oz/t gold and 124 g/t (4.0 oz/t) silver.
Three samples of the primary crushed rock have been sent to Christophersen Umpire Assayers, Smelterville, Idaho. Three one ton assay samples (50g) were subjected to both gravity and fire assay for gold and silver content. The three samples graded 0.127 oz/t (3.95 g/t) gold 0.92 oz/t (28.6 g/t) silver; 0.046 oz/t (1.43 g/t) gold, 0.88 oz/t (27.37 g/t) silver; and 0.038 oz/t gold and 0.5 oz/t 15.5 g/t silver. The samples have also been submitted to American Analytical Lab for 36 element ICP assays.
The Company advises that the larger metallurgical samples are still considered selected samples and may not be indicative of, or representative of potential mined grades.
The Crane Creek claims cover a substantial 3 - 6 meter (10 - 20ft) wide gold and silver bearing structure, that extends north from, and lies in close proximity to, Integra's Delamar Gold Project in Southwest Idaho, 120 km (75 miles) from the Bayhorse Mill. The significant gold mineralization in Southwestern Idaho is interpreted to be the northern extension of the Carlin Gold Trend.
Bayhorse CEO, Graeme O'Neill, comments, "The large fluctuations in silver prices this past two and a half years, especially the 32% drop in silver price in the past 100 days, and the increased operating input costs, especially fuel costs, is affecting every miner. The Company has added the Crane Creek Gold claims, that are in close proximity to the Payette, Idaho Mill, as a property that has the potential of adding both gold and silver mineralization to the current high grade silver Mill feed to counter these increased costs".
The Company is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability and advises there is an increased uncertainty and specific economic and technical risk of failure with any production decision. These risks include, but are not limited to, (i) a drop in price of commodities produced, namely silver, gold, copper, lead and zinc, from the pricing used to make a production decision; (ii) failure of grades of the produced material to fall within the parameters used to make the production decision; (iii) an increase in mining costs due to changes within the mine during development and mining procedures; and (iv) metallurgical recovery changes that cannot be anticipated at the time of production.
The Company also announces that, subject to the approval of the TSX-V Exchange, the Company has extended the expiry date of the following warrants (all other terms remain unchanged):
a) Amended expiry date of 4,530,000 warrants: October 2, 2022.
New expiry date of 4,530,000 warrants: April 2, 2025.
Exercise price of warrants: 10 cents.
b) Amended expiry date of 7,420,000 warrants: October 17, 2022.
New expiry date of 7,420,000 warrants: April 17, 2025.
Exercise price of warrants: 10 cents.
c) Original expiry date of 1,213,333 warrants: October 30, 2022.
New expiry date of 1,213,333 warrants: October 30, 2025.
Exercise price of warrants: 20 cents.
d) Original expiry date of 1,600,000 warrants: November 27, 2022.
New expiry date of 1,600,000 warrants: November 27, 2025.
Exercise price of warrants: 20 cents.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Dr. Stewart Jackson, P.Geo., a Qualified Person and Consultant to the Company has prepared, supervised the preparation of, and approved the technical content of this press release.
On Behalf of the Board.
Graeme O'Neill, CEO
866-399-6539, 604-684-3394
About Bayhorse Silver Inc.
Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA. With state of the art Steinert Ore-Sorting technology reducing waste rock entering the processing stream by up to 85%, we have created a minimum environmental impact facility capable of mining 200 tons of mineralization per day and the ability to process and supply 3,600 tons per year of silver/copper concentrate ranging between 7,500 to 15,000 g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136383
