Apr 1 2014
Bayhorse Silver Inc. ("Bayhorse" or the "Company") reports that it has entered into an Agreement with American Mining and Tunneling ("AMT") to conduct prepatory work on the Bayhorse Silver mine property recently acquired by the Company in eastern Oregon.
AMT has completed a survey by its safety team and is in the process of mobilizing to the project where, among other things, it will rehabilitate the adit to ensure the adit is safe for access, and conduct such other work to enable the Company's geologists to sample the underground workings in a safe manner in order for the Company to confirm the historical reported grades and to conduct other geological sampling and mapping.
The Company has received preliminary results from Met-Solve Laboratories on the recent bulk sample that was taken from the low grade stockpile that remains on the property from the 1984 mining program as well as from additional sampling. Approximately 250 kg of material was taken from ten (10) evenly spaced pits on the low grade stockpile, of which 170 kg was combined into one sample for assaying. The head grade of the combined sample was 184 grams/tonne (5.92 oz/tonne) which is consistent with the historic reports that 6% of the ore mined grades less than 6 ounces/ton (205.7 g/mt)
Four channel samples totaling 40.6 kg taken from an outcropping mineralized zone were also submitted to Met-Solve Labs for assay and metallurgical testing.Sample GV301 graded 5,601 g/t Ag, (180 oz/t or 5.6 kg/ton), GV302-1 graded 17,757 g/t Ag, (571 oz/t or 17.57 kg/t), GV302-2 graded 14,876 g/t (478/oz/t or 14.88 kg/t), and GV304 graded 1,421 g/t Ag (45.7 oz/t or 1.4 kg/t)
The 170 kg composite plus an additional composite containing the 40.6 kg composite (averaging 5,330 g/t) as reported above, and an additional composite of 10.76 kg of mineralized material (averaging 3,370 g/t Ag), for a total of 51.16 kg are to be tested for silver recovery by flotation methods. These will be reported once received from the lab.
The highest silver grades reported in the Company's news release BHS2014-01 were in samples GRBH-20, 150.4 kg/tonne (150,370 g/tonne or 4,385 oz/tonne) and GRBH-19, 88.2 kg/tonne (88,206 g/tonne or 2,836 oz/tonne). In addition samples GRBH-13 graded 1.19 kg/tonne (1,190 g/tonne or 38.26 oz/tonne), GRBH-09, 1.02 kg/tonne (1,020 g/tonne or 32.79 oz/tonne), GRBH-02, 0.9 kg/tonne (902 g/tonne or 29.0 oz/tonne) and GRBH-03, 0.88 kg/tonne (888 g/tonne or 28.55 oz/tonne
Historic Information:
The Company advises that the following information is of a historic nature. Historic production estimates, drill information and grades reported have not been verified; A qualified person has not done sufficient work to verify the historical estimates nor classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimates as current mineral resources or mineral reserves. (ounces/grams conversion is one ounce/short ton = 34.2857 grams/metric ton)
As "stated in the minerals production yearbook" (Jacobsen, 1959), total reported historic production from the Bayhorse Mine through 1959 was 286,000 ounces of silver from 8,300 tons of ore for an average of approximately 34.5 opt Ag (1,183 g/t Ag) while Herdrick (1981) estimated remaining shipping ore at a 7.5 opt Ag cutoff to be 166,208 tons, and on-site mill ore at a 3 opt Ag cutoff to be 473,350 tons.
According to other more recent reports in 1984, 90 underground drill holes totaling 15,000 feet reportedly delineated 26,000 tons of silverbearing ore of which 5,718 tons were reported being produced at an average grade of 16.7 opt Ag (572.5 g/t Ag), while approximately 20,000 tons at an average of 15 opt Ag reportedly remained unmined. The historic records also indicate that of the 5,718 tons produced, 23% reportedly graded between 21 - 100 opt Ag, 71% reportedly graded between 6 - 20 opt Ag and 6% reportedly graded less than 6 opt Ag. Ancillary copper produced reportedly averaged 1% Cu. The highest reported grade from the 1984 drilling, sampling and mining program was from a mined round, containing a tetrahedrite-tennantite-rich vein, that assayed 691 opt Ag (23,691 g/t) and 15.72% Cu.