BAYHORSE Mobilizes Diamond Drill to Harrison High Grade Gold Project
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2020) - Bayhorse Silver Inc. (TSXV: BHS) (the "Company" or "Bayhorse") has mobilized equipment and personnel to the Harrison High Grade Gold Project, Harrison, BC., Canada, for its diamond drill program and underground bulk sampling program.
Figure 1. Proposed diamond drill pattern to verify historical resource values for the Jenner Zone
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The first drill holes are targeting the Jenner Zone, then the RN & Portal (Easter Egg) Zones, where Bema Gold/Kerr Addison Mining (BGKM) defined historic resources as tabulated below. The objective is establishing a current NI-43-101 gold resource.
Based on surface and underground drilling completed by Bema above the 50 meter ASL level, Norman (1989), using a one gram cut off grade for the Jenner Zone and a 2 gram cut-off grade for the Portal Zone, estimated that the Jenner and Portal Zones contain 2,458,674 tonnes at an average grade of 2.79 g/t gold, for 220,300 ounces.
|Grade g/t Au||Grams||Ounces|
|Jenner zone||"Probable and Possible"||1,801,134||2.71||4,876,635||156,710|
|Portal zone||"Probable and Possible"||657,753||3.02||1,984,324||63,766|
The Company advises that the resource estimate by Norman (1989) above is of a historic nature. Historic drill holes, resource estimates and grades reported have not been verified. A qualified person has not done sufficient work to verify the historical estimates nor classify the historic estimates as current mineral resources or mineral reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves. Additional resampling and drilling by a Qualified Person will be required to designate a current resource under National Instrument 43-101 standards.
The Company has engaged SGS Hive, to conduct a QA/QC program to assist in establishing the parameters for a current resource. Apex Geoscience Ltd., will be responsible for conducting the resource calculation.
Subject to the Company filing a Notice of Work with the BC Ministry of Mines, anticipated before the end of the year, the Company intends to commence a bulk sampling program at the RN Zone. Historical reports for the RN Zone indicate that a total of 642.82 tonnes (708.58 tons) of mined material was shipped from the RN Zone containing 30,443 grams of gold (978.89 ounces), and 616 kilograms of copper.
The Company recently conducted a metallurgical test program that determined the gold at Harrison, that consists of free milling gold, 0.2 - 2mm in size, is 94.7 % recoverable by gravity and flotation methods. The mineralized zones that have been identified at the Harrison Gold Project have tentatively been identified as parts of a Reduced Intrusive Related Gold System (RIRGS)
According to historical records Bema (Norman,1989) reported that historic drill hole and mine muck samples were analyzed by standard fire assay techniques and no systematic metallic screening assay procedures were conducted. Preliminary sampling by BMGM and Bayhorse has determined that standard fire assay techniques under report gold content of samples by 19% to 40%.
Norman, 1989, also noted that historic bulk sampling from the Jenner underground workings demonstrated that reported drill hole grades may under report gold contents by as much as 40%.
Bayhorse CEO Graeme O'Neill comments, "Bayhorse is advancing shareholder value on two fronts. First with the Bayhorse Silver Mine in Oregon, where a firm off-take offer for its silver concentrate has been received,, and secondly the start of a confirmation diamond drill program and gold bulk sample at the Harrison high grade gold project."
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Dr. Stewart Jackson, P.Geo., a Qualified Person and Consultant to the Company has prepared, supervised the preparation of and approved the technical content of this press release.
On Behalf of the Board,
Graeme O'Neill, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Bayhorse Silver Inc.
Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA, an option to acquire an 80% interest on the Brandywine, precious metals rich, volcanogenic massive sulphide property, and is earning a 50% interest in the Harrison Gold Project, located in B.C., Canada. The Company has an experienced management and technical team with extensive mining expertise surrounding exploration and building mines.
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