01:12:29 EDT Sat 10 Jun 2023
Enter Symbol
or Name

Silver Bullet Mines Corp
Symbol SBMI
Shares Issued 62,421,962
Close 2022-07-12 C$ 0.34
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Silver Bullet Mines produces Ag, Cu at Arizona mill

2022-07-13 10:31 ET - News Release

Mr. John Carter reports


Silver Bullet Mines Corp. has successfully produced silver and copper at its wholly owned 125-metric-ton-per-day mill near Globe, Ariz.

"This production is the result of years of hard work, planning and dedication, and the incredible talents of the Arizona team," said A. John Carter, Silver Bullet's chief executive officer. "Over the past 10 months, despite COVID-19 and global supply chain issues, we have spent less than $3-million building this fully functional mill, a staggering feat. This is to my mind a one-of-a-kind experience."

The mill produced its first silver concentrate from lower-grade ore on July 12, 2022, and plans to soon pour its first dore bars. The company intends to continue to use lower-grade ore to optimize recovery efficiency and fine tune the various mill components. Higher-grade ore will be introduced into the system once the mill is operating at higher rates of recovery. To date there have been no major setbacks and all components are operating within expected parameters.

The initial concentrate and dore should be sold to various refineries, whose apparent demand should account for Silver Bullet's entire silver and copper production over the coming weeks.

A video of the shaker table operating can be found at the company's website.

The Buckeye silver mine is the source of the bulk sample ore for the mill. Both the mill and the Buckeye mine are 100 per cent controlled by SBMI. At the Buckeye, the field team is currently extracting ore from a vein at a location where it is approximately 12 feet wide. Silver Bullet's target is to have at least one month (5,000 tonnes) of raw ore available to the mill at all times, meaning management expects ore to be continually shipped from the Buckeye to the mill on a regular schedule.

Over the coming weeks management expects a steady stream of announcements as material milestones are met.

We seek Safe Harbor.

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