Bunker Hill Mining Corp. (CSE: BNKR) is pleased to report that it has intercepted high grade silver mineralization in the UTZ area of the Bunker Hill Mine, with a silver equivalent grade of 1,206 g/t AgEq as detailed in Table 1 below. This area is near surface, in close proximity to existing infrastructure, and located within a larger mineralized zone which was historically thought to not contain high-grade silver.
Table 1 below: High grade silver intercept Hole 7056
*An intercept of high-grade silver was intersected while drilling through a fault on the 05-1 level in the UTZ. Due to poor recovery and for QA/QC purposes, the Company chose to report assay results based only on recovered footage. Drilled footage is NOT the reported width of the intercept. Numbers in the above table are based on the 0.46 M of recovered material instead of the 1.2 M drilled. Reported widths are intercepted ore lengths and not true widths, as relationships with intercepted structures and contacts vary. Prices used to calculate Ag and Zn Eq are as follows: Zn=$1.16/lb, Pb=$0.92/lb, Ag=$20/oz.
Sam Ash, CEO of Bunker Hill Mining, stated: “The presence of high-grade silver in the upper areas of the Bunker Hill Mine is very encouraging. Furthermore, it is within the PEA study area and has the potential to be mined within Phase 1 of our restart program, which could allow us to immediately crystalize the value. Analysis is underway to follow up and further explore for nearby high-grade silver mineralization.”
The Preliminary Economic Assessment to assess the rapid restart program remains on track for completion in early Q2-2021.
Figure 1: Silver Intercept Drilling Exploration – Cross Section
The diamond drilling program used HQ-size core. Bunker Hill followed standard QA/QC practices to ensure the integrity of the core and sample preparation through to delivery of the samples to the assay lab. The drill core was stored in a secure facility, photographed, logged and sampled based on lithologic and mineralogical interpretations. Standards of certified reference materials, field duplicates and blanks were inserted as samples shipped with the core samples to the lab.
ALS Global was used to provide analytical services and all results comply with both NI 43-101 and industry standards. ALS Global holds an industry standard ISO 17025 accreditation, specifying general requirements for laboratory performance.
The Company advises that it does not propose to base its production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. The Company further cautions that a PEA is preliminary in nature. No mining study has been completed. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that the PEA will be realized.
Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. and a consultant to the Company, is an Independent “Qualified Person” as defined by NI 43-101 and is acting at the Qualified Person for the Company. He has reviewed and approved the technical information summarized in this news release.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. has an option to acquire 100% of all saleable assets at the Bunker Hill Mine. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.
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