Bayhorse Silver Inc, (TSX-V: BHS) (OTCQB: BHSIF) (FSE: 7KXN) reports additional high grade gold assays from the recently acquired Crane Creek Gold Project, Idaho, USA.
The claims are on a large 3 – 6 meter (10 – 20ft) wide gold bearing structure, that extends north from, and are in close proximity to, Integra’s Delamar Gold Project in Southwest Idaho, 120 km (75 miles) from the Bayhorse Mill. The significant gold mineralization in Southwestern Idaho is considered the northern extension of the Carlin Gold Trend.
The arsenopyrite chip samples were taken from mineral showings that outcrop over 700 feet (0.21 km) on the structure that extends over a minimum 3 km (1.9 miles) on strike. The samples were fire assayed and 3 of the samples returned 33.87 g/t (1.089 oz/t) gold and 136.85 (4.4 oz/t) silver, 26.4 g/t (0.849 oz/t) gold and 140 g/t (4.5 oz/t) silver, 15.3 g/t (0.493 oz/t) gold and 68.42 g/t (2.2 oz/t) silver and 1.36 g/t (0.044) oz/t gold and 124 g/t (4.0 oz/t) silver. A further 3 soil samples returned less than 0.01 oz/t gold.
These grades compare favorably to prior reported samples taken from claims on trend by the Company that returned 33.28 g/t (1.068 oz/t) gold and 96.42 g/t (3.1 oz/t) silver and 4.98 g/t (0.16 oz/t) gold and 138 g/t (4.45 oz/t) silver, 37.69 g/t (1.202 opt) gold, 40.31 g/t (1.296 opt) gold and 0.62 g/t (0.02 oz/t) gold.
The Company advises that chip samples are considered selected samples and are not indicative of, or representative of potential mined grades.
Samples were taken by senior Bayhorse Mine personnel and submitted under chain of custody to Christopherson Umpire Assayers, Smelterville, Idaho, for gold and silver assays.
A larger (up to 1,000 kg or 2,200lb) sampling is underway at the sites of the highest grade chip samples from the claims. The Company plans to process this bulk sample for gold and silver content at the Company’s Bayhorse Mill in Payette, Idaho.
Bayhorse CEO, Graeme O’Neill, comments “Over the past four months we have had a significant, and apparently continuing, decline in both silver (30%) and gold (17%) prices.”
“In order to ensure we can balance out the large fluctuations in the silver prices, we are adding a gold component to our mining and milling operations in the U.S. Adding the Crane Creek Gold claims that are in close proximity to the Payette, Idaho Mill, has the potential to increase the Mill output value for what we believe are minimal extra input costs. Crane Creek can initially be surface mined at what we believe to be a relatively moderate cost.”
The Company is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability and advises there is an increased uncertainty and specific economic and technical risk of failure with any production decision. These risks include, but are not limited to, (i) a drop in price of commodities produced, namely silver, copper, lead and zinc, from the pricing used to make a production decision; (ii) failure of grades of the produced material to fall within the parameters used to make the production decision; (iii) an increase in mining costs due to changes within the mine during development and mining procedures; and (iv) metallurgical recovery changes that cannot be anticipated at the time of production.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Dr. Stewart Jackson, P.Geo., a Qualified Person and Consultant to the Company has prepared, supervised the preparation of, and approved the technical content of this press release.
About Bayhorse Silver Inc.
Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA. With state of the art Steinert Ore-Sorting technology reducing waste rock entering the processing stream by up to 85%, we have created a minimum environmental impact facility capable of mining 200 tons of mineralization per day and the ability to process and supply 3,600 tons per year of silver/copper concentrate ranging between 7,500 to 15,000 g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.
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