Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver Bull”)
is pleased to provide results 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.
Photos accompanying this announcement are available
at:http://www.globenewswire.com/NewsRoom/AttachmentNg/898ff101-dbae-4338-9e32-41f50445102chttp://www.globenewswire.com/NewsRoom/AttachmentNg/3a410ceb-2a2a-4614-9c02-b34baebe14a9http://www.globenewswire.com/NewsRoom/AttachmentNg/58a3f3de-3282-4f83-9647-18dcc1b72ea6http://www.globenewswire.com/NewsRoom/AttachmentNg/8b2171e8-1eee-40a5-bd9e-c6b04acbe7d3http://www.globenewswire.com/NewsRoom/AttachmentNg/b34a7872-8f74-4d32-aef6-d6d53a0751ca
Highlights from the four holes announced in this
news release include:
- Hole T17010 – 9 meters @ 20.7% zinc, 1.0% Lead, 98g/t
silver and 0.26% copper including 3.65 meters @ 47.8% zinc, 2.5%
lead, 105g/t silver and 0.26% copper from 3.55 meters to 7.2
meters.
- Hole T17009 – 3 meters @ 537g/t silver, 3.9% zinc and
1.06% copper including 1 meter @ 1280g/t silver, 14.8% zinc and
2.3% copper from 0 meters to 1 meters.
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, 1.22% copper and 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 sulphide mineralization identified
by the channel sampling program. 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.
Assays for the holes reported are as
follows:
Hole ID |
Hole Length (m) |
From (m) |
To (m) |
Interval (m) |
Ag (G/T) |
Cu (%) |
Pb (%) |
Zn (%) |
T17007 |
51.55 |
No significant results |
|
|
T17008 |
72.5 |
No significant results |
|
|
T17009 |
|
0 |
3 |
3 |
537 |
1.06 |
0.05 |
3.9 |
Including |
0 |
1 |
1 |
1280 |
2.3 |
0.09 |
14.8 |
T17010 |
|
0 |
9 |
9 |
98 |
0.26 |
1 |
20.7 |
Including |
3.55 |
7.2 |
3.65 |
105 |
0.26 |
2.5 |
47.8 |
Tim Barry, President, CEO and director of Silver
Bull states, “We are extremely pleased with the results from this
batch of drill core. 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 previously
announced in the news releases of holes T17001 to T17006 was
dominated by high grade silver-copper sulphide mineralization
grading up 1,300g/t silver and 6% copper. This second structure is
dominated by extremely high zinc sulphide mineralization, grading
up to 48% zinc and suggests a metal zonation in the mineralization
we see at Sierra Mojada and provides very useful information in
helping us vector into an intrusion, interpreted as the source of
metals currently defined on the project. In addition to vectoring
in on an intrusive source we can now project the mineralization we
are currently drilling into the extensive channel sampling and
drilling completed at the eastern end of the deposit and show a
target over 3 kilometers in strike length. When you consider this,
coupled with the fact we have identified three structures in this
east-west trend similar in style, dip and grade of mineralization,
we see some very significant immediate targets at Sierra Mojada. In
addition to the drilling, work is currently underway to access some
of the underground workings further east to confirm the style of
mineralization.”
A summary of the drill results is shown in
the maps.
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 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 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
info@silverbullresources.com
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 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, 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, target over 3 kilometers in length and ability to
vector in on intrusive source. 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 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 new information,
future developments or otherwise.
Silver Bull Resources (TSX:SVB)
Historical Stock Chart
From Apr 2024 to May 2024
Silver Bull Resources (TSX:SVB)
Historical Stock Chart
From May 2023 to May 2024