Bayhorse Silver (TSXV: BHS; US-OTC: KXPLF) is sampling and surveying its historic Bayhorse silver mine in Oregon as it prepares to release a new technical report on the project.
The company is currently sampling 167 metres from the western end of the mine’s underground workings. So far it has taken 60 channel samples over 60 metres. The company has access to historic mine plans, and aims to confirm the location of the mineralized zones. It says it will follow that up by sampling another 167 metres
The company is also trying to confirm the thickness of the mineralized zones, which it says has been reported as averaging 6 metres thick. It’s cutting long holes at 1 metre intervals to test the thickness.
The company is working toward a National Instrument 43-101 technical report that it says will provide a model for the mineralization at the western end of the mine. The company has said it will not produce a feasibility study before making a production decision.
Former owner Silver King Mines produced 6,094 tonnes of silver bearing material in 1984, of which 94% graded at least 187 grams silver per tonne. In that, 23% graded between 656 and 3,125 grams silver. The remaining 6% did not meet the 187 grams silver cut-off grade. In 2014, Bayhorse sampled as high as 151,093 grams silver.
Based on historical reports, the company believes the project contains a mineralized zone measuring 256 metres long, 26 metres wide and 7 metres thick that could contain more than 145,000 tonnes of silver bearing material.
The company also owns several past producing properties in Idaho’s Silver Valley.
Shares of Bayhorse Silver are currently trading at 9¢ with a 52-week range of 9¢ to 27¢. The company has an $8 million market capitalization.
Be the first to comment on "Bayhorse samples historic silver mine in Oregon"