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Bayhorse Silver Submits 113 Samples for Assaying from Bridging the Gap Silver Project in Idaho - Video Available on Investmentpitch.com
December 07, 2016 10:50 AM EST | Source: InvestmentPitch Media
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2016) - Bayhorse Silver (TSXV: BHS) has submitted 113 samples for assay from the first phase of drilling at the Bridging the Gap Silver Project, which is located at Smelterville, in Idaho's prolific "Silver Valley."
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The company targeted two parallel silver/lead/zinc structures: the historic Crown Point/Silver King Mines structure, and the Shea structure, 300 feet to the south. Historically, mineralized structures at the Crown Point and Shea zones varied from one to 30 feet wide.
Mineralized samples submitted for assay include pyrite-rich bedding replacement veins, as well as quartz-rich vein intercepts with galena, sphalerite, and pyrite, and chevron folds with blebby pyrite from the Pritchard Formation, along with clast-rich crackle breccia from the St. Regis Formation.
U.S Bureau of Mines records show that Crown Point Mines historically worked on vein systems with in-situ grades of up to 80 ounces per ton silver and 65% lead, from which 3,000 tons of ore was direct shipped at that grade. The Crown Point/Silver King Mines closed in 1940, with reported historic production of 116,906 tons averaging 12 ounces per ton silver and 11.3% lead.
Between 1886 and 1940, total reported production from the 5 mines on the Bridging the Gap Project was over 2 million ounces of silver, 9.4 million pounds of zinc, and 6 million pounds of lead.
Graeme O'Neill, President & CEO, stated: "These first diamond drill holes on the project area in over 80 years have provided the Company with both geological and structural information, and management is evaluating the logistics and location for continued surface and underground diamond drilling to test the Crown Point and Shea zones."
Though the Crown Point/Silver King zone was mined only to the 200 level, a steeply inclined shaft extended the structure to 800 feet demonstrating substantial exploration potential for the Crown Point/Silver King and Shea structures. The zones are projected to extend much deeper to below the 1000-foot level, based on the adjacent and highly prolific Bunker Hill Mine to the east being mined down to 5,800 feet, and the Page Mine on the west side being mined down to the 3,500-foot level. Hecla's nearby "Lucky Friday" Mine is currently being extended to the 10,000-foot level.
Bayhorse is earning an 80% interest in the historic Bayhorse Silver mine in Oregon, and a 75% interest in the past producing Bridging the Gap Project, located in the highly prolific silver producing district of the "Silver Valley" in northern Idaho, adjacent to the Bunker Hill Mine.
The shares are trading at $0.165 and with 36.2 million shares outstanding, the company is capitalized at $6 million.
For more information, please visit the company's website www.bayhorsesilver.com, contact Graeme O'Neill, President and CEO, at 604-684-3394 or email company@bayhorsesilver.com.
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