VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 9, 2015) – Bayhorse Silver Inc. (TSX VENTURE:BHS)(FRANKFURT:7KXN) (the “Company” or “Bayhorse“) announces that adit safety work at the Bayhorse mine, Oregon, USA, commenced during the first week of September, 2015.
The mining contractor, American Mining and Tunneling (“AMT”) of Elko, Nevada estimates it will take 17 days to complete the safety work in preparation for mining, upgrading and shipping up to 5,000 cu/yds (approximately 15,000 tons) per year containing up to 500,000 ounces of silver from the historic workings. Bonanza grade silver has been identified at the Bayhorse Silver Mine (news release BHS2014-01). The mineralized zone is up to 85 feet wide, 22 feet thick, and has a known extent of a minimum of 840 feet. It is estimated to contain 160,000 tons with an estimated grade of 17-20 ounces of silver/ton at a 7.5 ounce per ton cut off (Herdrick 1981). See the Company’s National Instrument 43-101 Report dated February 2014, and news release BHS2015-10 (February 2015).
The Company advises that 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.
The Company will use Ore-Sorting equipment utilizing XRF/XRT technology to achieve higher grades and enhanced recoveries at a lower cost. This technology has made dramatic advances over the past few years, in mining operations. Ore-Sorting can enable both decreasing the cut off grade that determines how much recoverable minerals there are in a deposit, and also reducing the waste rock in the process stream thereby lowering processing costs and increasing recoveries. When used in conjunction with Dense Media Separation it can provide enhanced shipping grades thus reducing the per-ounce transportation cost to processing centers.
These lower cost technological advances now available to the mining industry have the potential to bring smaller, previously uneconomic mines, into a profitable status by reducing both mining and processing costs. Bayhorse management anticipates significant opportunities available to the Company as it leads in understanding and utilizing these technological advances.
Bayhorse Silver Inc. is a junior exploration company that is earning an 80% interest in the historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. It has a 100% interest in the Alexander River high grade New Zealand gold prospect, in the highly prolific West Coast South Island gold fields of New Zealand, which offers investors the potential for a major gold discovery.
Bayhorse has also entered into a Farm-In Agreement with Saturn Minerals to acquire a 25% interest in the Little Swan oil project, Saskatchewan. Additionally, the Company has retained a 30% Net Profit Interest in the Flagstaff barite mine in Washington State. 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.
The technical content of this press release has been reviewed by Dr. S. A. Jackson, PGeo., a Qualified Person and Technical Advisor to the Company.
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.