VANCOUVER, BC–(Marketwired – June 22, 2016) – Bayhorse Silver Inc (TSX VENTURE: BHS) has completed the major necessary engineering and safety work in rehabilitating the adit to the intermediate level mine workings at the Bayhorse Silver Mine, Huntington, Oregon, USA. Silver price increases to over US17 oz, has triggered numerous analysts to predict more significant increases ahead. The Company is well positioned to take advantage of further silver price increases .
The Company is now able to commence verification of the silver grades that Silver King reported from its 1984 underground drill program and mining production. Additionally, the Company will confirm the historical mineralized zone averaging 85 feet in width, 22 feet in thickness, with a known length of 840 feet (Herdrick,1981). The Company will also accurately survey the location where Silver King blocked out two zones ready to mine totaling approximately 1,800 tons. These zones remained un-mined when the mine ceased production due to low silver prices and the Company is preparing for its first extraction from these zones : http://www.bayhorsesilver.com/bayhorse-silver-mine/historic-information/
Assisting the Company in its work is a team of independent geological and engineering consultants, including Mining Engineer Ron Krusemark of HRB Mining Services (HRB), Dr. Clay Conway, P.Geol, Dr. Stewart A. Jackson, P.Geol., Dr. G. E. Ray, P.Geol, Dr. Richard Jolk, P.Eng. Metallurgy, M. Dufresne M.Sc. P.Geol of Apex Geoscience. Assays and metallurgical work will performed by Metsolve Metallurgical Labs. HRB has a highly experienced mining team at the Bayhorse Silver Mine, where underground work has been in progress since mid March.
Silver King drilled 90 underground drill holes in 1984 totaling 15,000 feet and using a 6 oz/ton Ag cut off grade, mined 5,718 tons averaging 16.7 oz/t Ag (572.5 g/t Ag). Historic records indicate that of the 5,718 tons produced, 23% graded between 21 – 100 oz/t Ag, 71% graded between 6 – 20 oz/t Ag, and 6% graded less than 6 oz/t Ag. Copper averaged 1% Cu. The highest reported grade from the 1984 drilling, sampling and mining program was from a mined round, containing a tetrahedrite-tennantite-rich vein, that assayed 691 oz/t Ag (23,691 g/t) and 15.72% Cu.
Minerals Production Yearbook (Jacobsen, 1959), reported total historic production from the Bayhorse Mine through 1959 as 286,000 ounces of silver from 8,300 tons of ore for an average of approximately 34.5 oz/t Ag (1,183 g/t Ag). Herdrick (1981) estimated remaining shipping ore to be 166,208 tons at an average grade of between 17 and 20 oz/t, at a 7.5 oz/t Ag cutoff, of which Silver King, mined 5,718 tons at an average grade of 16.7 oz/t silver using a 6 oz/ton Ag cut-off. No mining has been conducted at the Bayhorse Silver Mine since Silver King ceased its its 1984 mining program.
The Company advises that this information is of a historic nature. Historic production estimates, drill information and grades reported have not been verified; A qualified person has not done sufficient work to verify the historical estimates nor classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimates as current mineral resources or mineral reserves.
Bayhorse Silver Inc. is a junior exploration company that is earning an 80% interest in the historic Bayhorse Silver Mine in Oregon, USA, that has the potential for a substantial silver discovery, and is earning a 75% interest in the past producing Bridging the Gap Project, consisting of ASARCO’s historic Crown Point, Silver King, Ranger, Wyoming, Curlew, and Blackhawk silver/lead/zinc mines in Idaho’s Silver Valley. The Company has an experienced management and technical team with extensive exploration expertise. This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.
Dr. S. A. Jackson, PGeo. , a Qualified Person and Technical Advisor to the Company has prepared, supervised the preparation of, or approved the technical content of this press release.
On Behalf of the Board
Graeme O’Neill, President
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.
Bayhorse Silver Inc.