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Silver Bullet Mines Continues to Assay for High-Grade Gold and PGMs

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Silver Bullet Mines Continues to Assay for High-Grade Gold and PGMs






On September 26, 2022, Silver Bullet Mines Corp. (TSX-V: SBMI) (OTCQB: SBMCF) disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate.


To help identify with greater precision the location of the source of the platinum, palladium, rhodium, osmium and gold, SBMI recently took samples directly from locations around the Buckeye Silver Mine and the Company’s mill site, including from crushed material, directly from the vein, from diabase samples from the wall rock and from tailings from the run of lower grade material. The location from which those samples were taken and their assay results are below:


Assay Results are in Grams per Tonne

Sample ID Au Pd Pt Rh Ir Ru Os
Diabase 1 14.3 23.7 0.246 0.193 0.151 nd 0.415
2 22.3 18.9 0.172 0.076 nd nd 0.333
3 8.17 15.9 0.093 0.083 nd nd nd
4 22.3 18.2 0.097 0.072 nd nd nd
Crushed ore 1 15.1 9.07 nd 0.157 nd 0.949 0.08
2 23.2 11.6 0.064 0.17 nd 0.731 0.063
3 34.1 16.2 0.15 0.115 0.111 0.259 0.129
4 16.2 16.4 0.127 0.118 0.083 nd 0.097
5 37.9 15.6 0.107 0.058 0.278 0.18 0.053
6 26.6 17.9 0.127 0.085 0.08 nd nd
7 25.5 12.1 0.085 0.052 nd 0.265 nd
8 23.9 13.7 0.106 0.069 nd nd nd
Head ore 1 18.8 13.5 0.093 0.062 nd nd nd
2 21.9 11.7 0.06 nd nd 0.218 nd
3 37.2 16 0.105 nd nd 0.137 nd
4 30.6 13.6 0.07 nd nd 0.306 nd
5 22.9 12 0.07 nd nd 0.306 nd
6 24.3 10.4 0.061 nd nd 0.251 nd
Tailings 1 18.5 12.2 0.079 0.064 nd 0.211 nd
2 19.9 11.5 0.063 0.068 nd 0.272 nd
3 28.8 16.5 0.091 nd nd 0.174 nd
4 26.8 16.2 0.085 0.104 nd nd nd
5 37.1 16.9 0.102 0.083 nd nd nd
6 31.8 17.2 0.093 0.051 nd nd nd



Samples from all locations above were taken to be as representative of the local mineralized material as possible. Samples taken from the crushed ore are by their nature representative of the source mineralized material.


In management’s opinion, this round of results provides further strong evidence for the conclusion that the Buckeye Silver Mine may host economic amounts of platinum, rhodium, palladium, osmium and gold, in addition to the original silver targets. Management has engaged third party engineers, metallurgists and geologists to assist in creating a new process flow sheet and in determining the nature of the mineralized material at the Buckeye Silver Mine. Without effecting selective disclosure, management has also had positive preliminary discussions with potential financiers, pending the delivery of the flow sheet and a rough budget.




For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2022, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks.


Readers are cautioned that although management has made every reasonable effort to ensure the samples are as representative of the local mineralized material as possible, the samples above (apart from the crushed ore samples) are ultimately random by nature and may not be representative of the mineralization throughout the Buckeye Silver Mine.


Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.


Posted October 18, 2022

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