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Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) is a mining company headquartered in Burlington, Ontario, operating a mill near Globe, Arizona. The company has been actively processing mineralized material from the Buckeye Silver Mine, with muck assays as high as 8 ounces per ton and vein assays up to 480 ounces per ton silver. SBMI's strategic partnership with Countryman Investments Limited aims to provide financial stability and business opportunities. Recent developments include test processing of silver material, the closure of a debenture financing, and ongoing work at the Buckeye Silver Mine and Washington Mine. SBMI's focus on efficient production and revenue generation demonstrates its commitment to growth and operational excellence.
Silver Bullet Mines Corp (TSXV: SBMI) (OTCQB: SBMCF) has accessed the historic high-grade silver vein at its Washington Mine in Idaho. The company has expanded the adit to 12ft x 12ft, advancing over 190 feet and establishing 4 drill stations. The targeted vein averages 6 feet wide, with all drill holes successfully intercepting it.
According to the Stoker Report, the blocked-out volume contains an estimated 3 million ounces of silver (grading 30-90 ounces per ton) and 15,000 ounces of gold (at 0.3 ounces per ton). The report also identifies the 'Berger Vein', a gold ore shoot 25 feet wide and 135 feet long.
Initial oxide material samples showed up to 18 ounces per ton silver using X-ray fluorescence. The company is now focusing on extracting a 2,500-ton bulk sample and developing the mine further, with recent core samples showing multiple gold veinlets and potential high-grade silver content.
Silver Bullet Mines Corp. (SBMCF) has achieved a significant milestone by shipping its first order of silver concentrate processed from the Super Champ mine in Arizona. The company has successfully reached and maintained its targeted production rate of 6-7 tons per hour at its 100% owned mill in Globe, Arizona.
The company currently has approximately 3,000 tons of material stockpiled at the mine and mill, representing about 60 days of processing capacity. SBMI is transitioning from processing lower-grade material to higher-grade material, which is expected to increase the silver grade in the concentrate. To support increased production, the company has purchased a larger excavator with double the capacity of the current rental unit and a larger well pump.
The company recently closed a financing on February 18, 2025, issuing 597,300 finders warrants with a three-year term, exercisable at sixteen cents to arm's length parties.
Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB:SBMCF) has received TSXV approval to extend the closing date of its previously announced financing by 30 days from January 24, 2025. The private placement consists of Units priced at $0.12 per Unit, with each Unit including one common share and one full warrant at $0.16 with a 36-month term.
The funds will be allocated to accelerated development programs at both the Super Champ Mine in Arizona and the Washington Mine Property in Idaho, as well as working capital. The warrants have no acceleration clause, and referral fees may be paid to arm's length persons for Unit issuance.
Silver Bullet Mines Corp. (SBMCF) has completed the first phase of underground development at its Washington Mine in Idaho. The company engaged a contract miner who has successfully completed several key milestones:
The miner has established a 12 foot x 12 foot adit, advancing approximately 90 feet as planned in the Stoker Report. The portal has been properly secured with screening, rock bolting, and timbering. The miner is now making a 50-degree turn eastward parallel to the historical silver zone.
The company plans to extract approximately 2,500 tons of material for processing at a nearby third-party mill. The development includes infrastructure for year-round mining operations, with construction of equipment bays, storage, and water systems underway. The project aims to potentially intercept historic Washington Gold workings and access the Berger Gold vein and Washington Silver vein structures.
Silver Bullet Mines Corp. (SBMCF) has discovered high-grade silver float samples parallel to and above the existing Super Champ Vein in Arizona. Five float samples processed at the company's assay facility yielded impressive silver content ranging from 166.0 to 405.4 oz/ton.
The company currently has over 600 tons of mineralized material at the Super Champ mine site ready for shipping and 1,100 tons at the millsite awaiting processing. The mill is producing high-grade silver concentrate for potential clients.
Additionally, SBMI has closed a second tranche of financing worth $324,500, consisting of 2,704,167 Units priced at $0.12 each. Each Unit includes one common share and a full $0.16 warrant with a 36-month term.
Silver Bullet Mines Corp. (SBMCF) has successfully closed the first tranche of its financing, raising $514,000 through the issuance of 4,283,333 Units at $0.12 per Unit. Each Unit includes one common share and one full warrant exercisable at $0.16 with a 36-month term, with no acceleration clause.
The funds will be allocated to accelerate development programs at two key properties: the Super Champ Mine in Arizona and the Washington Mine Property in Idaho, as well as for working capital. The company may pay referral fees to arm's length persons in connection with the Unit issuance.
Silver Bullet Mines Corp (TSXV: SBMI) (OTCQB: SBMCF) has announced a strategic private placement of up to $1.5 million, with a lead order of $500,000. The placement will comprise up to 12,500,000 units at $0.12 per unit, each including one common share and one purchase warrant exercisable at $0.16 for 36 months.
The funds will support accelerated development at the Washington Mine Property in Idaho and exploration at the Super Champ Mine in Arizona. The company's Arizona mill is currently processing silver concentrate from Super Champ Mine material, with revenue generation expected in Q1 2025.
Additionally, TSXV has approved the issuance of 481,967 common shares as interest payment on convertible debentures from May 2024.
Silver Bullet Mines Corp. (SBMCF) reports continued high-grade silver assays from its Super Champ property in Arizona. Recent sampling revealed silver grades up to 508.8 oz/ton, with channel samples across the vein assaying 76-79 oz/ton. The Super Champ vein spans 5-8 feet in width at surface and extends over 1000 feet, with potential continuation along strike and depth.
The company has completed necessary modifications to its mill to process Super Champ material more efficiently, planning to process 50 tons per day initially. SBMI is working with a potential client preparing an offer to purchase all available concentrate. The company plans to produce doré bars and concentrate from the processed material.
Silver Bullet Mines Corp. (SBMI) has initiated contract mining at the Idaho Washington Mine, signing with an experienced miner specialized in high-grade vein operations. The company is targeting a historic area last tested in the 1980s, where previous bulk samples showed 44 ounces silver and 0.1 ounces gold per ton, with recent random sampling confirming 58.5 ounces per ton silver. The miner has completed drilling of the pilot hole and is preparing the portal for timbering, aiming to drive a 12 x 12 foot adit to access the Target Zone, located approximately 80 feet from the portal opening. The company plans to take a bulk sample of at least 2,000 tons within two months of commencement.
Silver Bullet Mines Corp. (SBMI) has discovered a historical mining tunnel during development of the Super Champ vein structure. The historical adit, approximately 4 feet wide by 8 feet high, was found under 12 feet of overburden. Random samples from the newly intercepted Tunnel Zone showed exceptional silver grades, with four samples exceeding 1,000 oz silver/ton. Additional samples from historical waste piles returned values between 9.8 to 77.6 oz silver/ton. The company is conducting detailed sampling and plans to process a bulk sample at its mill in Globe, Arizona. Visible silver has been reported in the Tunnel Zone, and gold is visible in current mill concentrates.
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