Mr. John Carter reports
SILVER BULLET MINES CORP. PROVIDES UPDATE ON THE BUCKEYE MINE HIGH GRADE GOLD, PLATINUM, AND PALLADIUM AND PROVIDES FIRST STAGE CHECK OF INITIAL ASSAYS RESULTS
Based on a review of Silver Bullet Mines Corp.'s technical disclosure by staff of the Ontario Securities Commission the company is issuing an update.
On Sept. 26, 2022, and Oct. 18, 2022, the company disclosed high-grade gold, platinum, palladium, rhodium and osmium results from the Buckeye mine from the in initial lab.
The company has subsequently received results on or about Jan. 17, 2023, from six referee/check samples submitted to another independent third party lab (Activation Laboratories Inc. (Actlabs)) which puts these previously released assay results into question. These new results indicate an absence of gold, palladium and platinum. Please see the attached table.
Investors should not rely on the assay results previously reported by the company on Sept. 26, 2022, and Oct. 18, 2022.
In addition, the company's Nov. 3, 2022, news release indicated that assay results from samples of diabase at several locations near and in the Buckeye silver mine were received and were being considered and would be disclosed to the public as soon as possible. Based on six referee/check samples noted herein, the company does not intend to disclose these results as they are considered unreliable at this time.
The company has engaged and sent samples to another independent certified lab (Third Lab). The Third Lab is performing check assay results using the same analytical method as the initial lab. Such results will be disclosed immediately upon receipt.
The QA/QC (quality assurance/quality control) set out herein is important as Actlabs that completed the check assays followed an analytical process different from the initial lab that produced the data reported by the company on Sept. 26, 2022, and Oct. 18, 2022.
The company had retained representative material from which each of the initial lab samples were obtained. A total of six samples inclusive of one duplicate were selected by the company's QP, Robert G. Komarechka, PGeo, from this material and secured in sealed and labelled sample bags and delivered to a local courier in Globe, Ariz., who then forwarded the samples on to Actlabs in Thunder Bay. The shipment also included duplicates, standards and blanks. In addition, Actlabs also used its own standards, blanks and duplicates. Actlabs undertook assaying of these six samples using ICP (induced coupled plasma) followed by OES (optical emission spectroscopy) analysis. This is a different analytical analysis used by the initial lab which was by MS (mass spectroscopy). SBMI is investigating whether the difference in process could explain the discrepancy in results.
Robert G. Komarechka, PGeo, an independent consultant, has reviewed and verified Silver Bullet's work referred to herein, and is the qualified person for this release.
We seek Safe Harbor.
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