Silver Bullet Mines Sets Mining Schedule at Washington Silver Mine in Idaho and Updates Arizona Mine Operations
Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) has signed a contract for underground mining at its Washington Silver Mine in Idaho. Mining is set to begin in early fall 2024, with plans to extract approximately 2500 tons of silver mineralized material. The company expects the material to contain gold credits as well, targeting a zone that previously yielded 44 oz/ton silver and 0.1 oz/ton gold in a 1980s bulk sample.
SBMI has also made progress at its Buckeye Silver Mine in Arizona, where ground support work is nearing completion. Mining from the higher grade Zone1 is expected to commence in the coming weeks, with processing to be done at the company's mill in Globe, Arizona.
The company cautions that its decision to proceed with production at the Washington Mine is not based on a pre-feasibility or feasibility study, which may increase economic and technical risks.
La Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ha firmato un contratto per l'estrazione mineraria sotterranea presso la sua Washington Silver Mine in Idaho. L'estrazione dovrebbe iniziare all'inizio dell'autunno 2024, con l'obiettivo di estrarre circa 2500 tonnellate di materiale minerale contenente argento. L'azienda si aspetta che il materiale contenga anche crediti d'oro, puntando a una zona che in passato ha prodotto 44 oz/ton di argento e 0,1 oz/ton di oro in un campione di massa degli anni '80.
SBMI ha anche fatto progressi nella sua Buckeye Silver Mine in Arizona, dove i lavori di supporto al suolo sono quasi completati. L'estrazione dalla Zona1, di alta qualità, è prevista per iniziare nelle prossime settimane, con la lavorazione da effettuare presso l'impianto dell'azienda a Globe, in Arizona.
L'azienda avverte che la sua decisione di procedere con la produzione nella Washington Mine non si basa su uno studio di pre-fattibilità o fattibilità, il che potrebbe aumentare i rischi economici e tecnici.
Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ha firmado un contrato para la minería subterránea en su Washington Silver Mine en Idaho. Se espera que la extracción comience a principios del otoño de 2024, con planes de extraer aproximadamente 2500 toneladas de material mineralizado de plata. La empresa espera que el material también contenga créditos de oro, apuntando a una zona que anteriormente produjo 44 oz/ton de plata y 0.1 oz/ton de oro en una muestra a granel de los años 80.
SBMI también ha avanzado en su Buckeye Silver Mine en Arizona, donde los trabajos de soporte terrestre están cerca de completarse. Se espera que la minería de la Zona1 de mayor grado comience en las próximas semanas, con el procesamiento a realizarse en la planta de la empresa en Globe, Arizona.
La empresa advierte que su decisión de proceder con la producción en la Washington Mine no se basa en un estudio de pre-factibilidad o factibilidad, lo que podría aumentar los riesgos económicos y técnicos.
실버 불릿 마인즈 코퍼레이션(Silver Bullet Mines Corp.) (TSXV: SBMI) (OTCQB: SBMCF)는 아이다호의 워싱턴 실버 광산에서 지하 채굴 계약을 체결했습니다. 채굴은 2024년 가을 초에 시작될 예정이며, 약 2500톤의 실버 광물을 추출할 계획입니다. 회사는 이 물질에 금 크레딧도 포함될 것으로 예상하고 있으며, 1980년대 대규모 샘플에서 톤당 44온스의 은과 0.1온스의 금이 나온 지역을 목표로 하고 있습니다.
SBMI는 아리조나의 벅아이 실버 광산에서도 진행 상황을 보이고 있으며, 지반 지지 작업이 거의 완료되었습니다. 고급 광역인 Zone1에서의 채굴은 앞으로 몇 주 내에 시작될 것으로 예상되며, 가공은 아리조나 주 글로브에 있는 회사의 제분소에서 이루어질 예정입니다.
회사는 워싱턴 광산에서 생산을 진행하기로 한 결정이 사전타당성 조사나 타당성 연구에 근거하지 않으므로 경제적 및 기술적 리스크가 증가할 수 있음을 경고합니다.
Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) a signé un contrat pour l'exploitation minière souterraine dans sa Washington Silver Mine dans l'Idaho. L'exploitation devrait commencer au début de l'automne 2024, avec des plans d'extraction d'environ 2500 tonnes de matériau minéralisé en argent. L'entreprise s'attend à ce que le matériau contienne également des crédits d'or, visant une zone qui avait auparavant produit 44 oz/tonne d'argent et 0,1 oz/tonne d'or dans un échantillon en vrac des années 1980.
SBMI a également progressé dans sa Buckeye Silver Mine en Arizona, où les travaux de soutien au sol sont presque terminés. L'exploitation de la zone 1, de haute qualité, devrait commencer dans les semaines à venir, avec un traitement à effectuer dans l'usine de l'entreprise à Globe, en Arizona.
L'entreprise met en garde que sa décision de procéder à la production à la Washington Mine ne repose pas sur une étude de pré-faisabilité ou de faisabilité, ce qui pourrait augmenter les risques économiques et techniques.
Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) hat einen Vertrag über den Untertagebau in seiner Washington Silver Mine in Idaho unterzeichnet. Der Abbau soll Anfang Herbst 2024 beginnen, mit dem Ziel, etwa 2500 Tonnen silberhaltiges Material zu fördern. Das Unternehmen erwartet, dass das Material auch Goldkredite enthalten wird und zielt auf eine Zone ab, die zuvor 44 Unzen/Tonne Silber und 0,1 Unzen/Tonne Gold in einer Großprobe aus den 1980er Jahren yielded.
SBMI hat auch Fortschritte in seiner Buckeye Silver Mine in Arizona gemacht, wo die Arbeiten zur Bodenunterstützung kurz vor dem Abschluss stehen. Der Abbau aus der hochgradigen Zone 1 wird in den kommenden Wochen erwartet, wobei die Verarbeitung in der Mühle des Unternehmens in Globe, Arizona, erfolgen soll.
Das Unternehmen warnt, dass seine Entscheidung, die Produktion in der Washington Mine fortzusetzen, nicht auf einer Vorstudie oder Machbarkeitsstudie basiert, was die wirtschaftlichen und technischen Risiken erhöhen könnte.
- Contract signed for underground mining at Washington Silver Mine in Idaho
- Mining set to begin in early fall 2024, targeting 2500 tons of silver mineralized material
- Previous bulk sample from target zone yielded 44 oz/ton silver and 0.1 oz/ton gold
- Progress made at Buckeye Silver Mine in Arizona, with mining from higher grade Zone1 to start soon
- Company has its own processing mill in Globe, Arizona
- Decision to proceed with Washington Mine production not based on pre-feasibility or feasibility study
- Increased economic and technical risks due to lack of detailed economic and technical analysis
- Potential for lower mineral grades or more difficult/expensive mining operations than expected
Burlington, Ontario--(Newsfile Corp. - August 26, 2024) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it has signed a contract with a contract miner (the "Contract Miner") for underground mining at the Washington Silver Mine in Idaho. The Contract Miner is highly experienced, has a long history of underground construction, and is ideally suited for working in high grade vein type structures like those expected to be worked at the Washington Mine.
Details on the Washington Mine can be found in the Company's news release of August 2, 2024.
Mining for silver at the Washington Mine is set to commence in the early fall of 2024 and is intended to continue through the winter of 24/25.
The Company's initial plan is for the Contract Miner to drift roughly 80 feet into the structure, intercept the historical workings, and extract roughly 2500 tons of silver mineralized material. Management reasonably expects that material to have gold credits in it as well. The targetted zone is the zone from which a bulk sample was taken by a third party in the 1980s and returned values of 44 ounces per ton silver and .1 ounce per ton gold.
The extracted material will be stockpiled at the Washington Mine site until sufficient quantities have been extracted for economic shipping and processing at a third party mill. The Company is evaluating several mills to determine their capabilities of processing the material from the Washington Mine on an economic basis. Relevant metallurgical test work was completed by Montana Technical Institute (CAMP) in 2022.
SBMI has signed an agreement with another contractor to build the access ramp into the Washington Mine, to expose the surface structure of the Berger gold vein for future development, and to carry out other tasks to prepare the site for the Contract Miner. SBMI has begun improving the access road, for which it is permitted.
SBMI is registered with the Idaho state mining department and has received its Mine Safety and Health Administration certification for the Washington Mine.
In Arizona at the Buckeye Silver Mine, the lengthy process of ground support by way of rockbolting nears completion and mining from the higher grade Zone1 should commence in the coming weeks. The mined material will be processed at the Company's mill in Globe, Arizona.
Readers should be cautioned that the Company's decision to move forward with the construction of and production at the Washington Mine is not based on the results of any pre-feasibility study or feasibility study of mineral resources demonstrating economic or technical viability. The Company has undertaken exploration and development activities; and after taking into consideration various factors, including but not limited to: historical data, the exploration and development results to date, technical information developed internally, the availability of financing, and the starting costs as estimated internally by the Company's management, the Company is of the view that the establishment of mineral reserves by way of a prefeasibility or feasibility study at this stage is not necessary and would be unduly costly, and that the most responsible utilization of the Company's resources is to proceed with the development of the Washington Mine. Readers are cautioned that due to the lack of prefeasibility or feasibility study, there is increased uncertainty and higher risk of economic and/or technical failure associated with the Company's decision. In particular, there is additional risk that mineral grades may be lower than expected, and the risk that construction or continuing mining operations may be more difficult or more expensive than management expected. Production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with National Instrument 43-101. Failure at the Washington Mine may materially adversely impact the Company's overall ability to continue as a going concern.
The references in this release to data and observations derived from work not carried out by SBMI are of historical nature only and cannot be relied upon at this time. SBMI does not know the methods by which such work was carried out, or whether all or part of it was under the supervision of a Qualified Person, as that term is defined in NI43-101. SBMI refers to such data and observations to inform its knowledge of the area and to support its thesis for exploration and mining. Please refer to prior press releases for the sources of such data and observations.
For further information, please contact:
John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221143
FAQ
When will Silver Bullet Mines (SBMCF) start mining at the Washington Silver Mine?
How much silver mineralized material does SBMCF plan to extract from the Washington Mine?
What were the historical yield results from the Washington Mine's target zone?
Where will Silver Bullet Mines (SBMCF) process the material from its Buckeye Silver Mine?
