Burlington, Ontario–(Newsfile Corp. – July 25, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) announces spectacular assay results for silver from its Buckeye Mine in Arizona.
The assay results below came from a test carried out by SBMI to further confirm, in practice, the efficiencies with which SBMI’s assay lab would process the high-grade ore from the Buckeye Mine. The person who carried out the test in Arizona was Ron Murphy, the Company’s VP Mining, together with SBMI’s assay team, under the supervision of Bob Budd, metallurgical engineer.
Below is a picture of the Heavy Rock2 select grab sample that SBMI took from behind the Treasure Chest at its Buckeye Mine in March, 2022. Mr. Murphy recently sampled Heavy Rock2, in a process that resulted in two beads.
One bead graded 2,214.4 oz/t silver and the other 2,363.8 oz/t silver.
Heavy Rock2 Sample from Behind the Treasure Room
Bead from Buckeye Mine Ore grading 2,363.8 oz/t silver
These results are spectacular and Management is thrilled with them as the extreme results were unexpected due to the fine dissemination of silver throughout this type of rock. However, Management believes the grade of future beads can be increased as the field team continues to fine tune the mill and the assay lab to increase their efficiencies.
“We designed the assay lab and the mill with the high-grade material from the Buckeye in mind, in the belief they would work together to produce saleable high grade material,” said A. John Carter, SBMI’s CEO. “That belief is why we built a complete processing facility in under 10 months, for less than $3,000,000. These assay results go a long way to justifying that belief and the building of the mill. Our field team has been incredible.”
SBMI continues to bring what it believes to be high-grade product from the Buckeye Mine to the millsite, in anticipation of completing the mill tune-up with lower grade material, and then commencing milling the higher grade material. Discussions are underway with various potential buyers for SBMI’s concentrate, and for the dore once poured.
The samples analyzed by SBMI at its facility near Globe, Arizona were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.
Readers should be aware that the SBMI facilities have been designed for quick production grade control and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past samples with good correlation.
Readers are cautioned Heavy Rock2 may not be representative of all the material in the Treasure Room or overall at the Buckeye Silver Mine. Readers are further advised that these preliminary assay values do not represent a reserve or resource at this time. While significant silver values have been encountered, the quantity, grade, or metal or mineral content of a deposit has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral resource, reserve or a proven mineral reserve.
Mr. Robert G. Komarechka, P.Geo., an independent consultant and the Qualified Person for this release, has reviewed and verified SBMI’s work referred to herein and approves this Press Release for public dissemination.
Please check the Company’s website www.silverbulletmines.com, or follow on Twitter @bulletmines or at YouTube “Silver Bullet Mines”.
For further information, please contact:
Silver Bullet Mines Corp., CEO
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
Silver Bullet Mines Corp. trades on the TSX Venture Exchange under the symbol SBMI and on the OTCQB Venture Market under the symbol SBMCF. The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies listed there are current in their reporting and undergo an annual verification and management certification process. Investors can find current financial disclosure for the Company on www.otcmarkets.com and at https://money.tmx.com/en/quote/SBMI.
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 availability of skilled and unskilled labour; the presence and recoverability of mineralization; ongoing availability of infrastructure such as electrical, diesel and road access; 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, permitting and regulatory approvals; activities and attitudes of communities local to the location of SBMI’s properties; price increases related to supply chain issues; 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 viruses create risks that at this time are immeasurable and impossible to define.