22:33:30 EST Tue 27 Feb 2024
Enter Symbol
or Name

Silver Bullet Mines Corp
Symbol SBMI
Shares Issued 64,892,962
Close 2023-03-02 C$ 0.19
Market Cap C$ 12,329,663
Recent Sedar Documents

Silver Bullet samples up to 297.6 oz/ton Ag at Buckeye

2023-03-03 11:08 ET - News Release

Mr. John Carter reports


Silver Bullet Mines Corp. processing mineralized material again at its 125-tonne-per-day pilot plant. The mill is currently being fine-tuned with low-grade material to set the recovery parameters. Having resolved the issues with pouring silver dore bars and made the necessary related modification to the mill circuit, the company intends to soon process higher grade material. To date the mill has been operating to specifications with non-detectable values for silver in the tailings produced from the shaker table.

The company has one outstanding order for 50 kilograms of silver including credits for any contained copper or gold. The purchaser of those 50 kilograms has indicated a willingness to acquire up to 500 kilograms of silver on one week's written notice. The company is also in discussions with other potential purchasers.

Like any responsible producer, Silver Bullet Mines operates its own assay lab. Silver Bullet Mines continues to implement a strategic sampling program using that lab to enable it to maintain silver grade control to the mill.

Below is a list of recent highlight assays and photos from the vein in the upper adit at the Buckeye mine, from an area to which the company recently drifted behind the Treasure room (not all assay results are reported). Note that all of the samples listed below are from the upper adit 420 feet to 444 feet from the entrance of the upper adit.

High-grade vein material:

  • 270 ounces per ton silver;
  • 290 ounces per ton silver;
  • 297.6 ounces per ton silver;
  • 284 ounces per ton silver.

Green vein material:

  • 60 ounces per ton silver;
  • 78.8 ounces per ton silver;
  • 47.2 ounces per ton silver;
  • 40.5 ounces per ton silver.

Silver coloured vein material:

  • 79.4 ounces per ton silver;
  • 89 ounces per ton silver;
  • 96.8 ounces per ton silver;
  • 43 ounces per ton silver.

10-foot channel samples across vein:

  • 18 ounces per ton silver average across 10 feet at 432 feet from the adit portal;
  • 49.6 ounces per ton silver average across 10 feet at 444 feet from the adit portal.

Drill cuttings from blast holes:

  • 2.8 ounces per ton silver average over 12 feet at 420 to 432 feet from the adit portal;
  • 5.8 ounces per ton silver average over 12 feet at 432 to 444 feet from the adit portal.

The company currently has approximately 750 tons of run of mine mineralized material at the mine site ready for transportation to and processing at the mill site in Globe.

QA/QC (quality assurance/quality control)

All the samples above were collected by Silver Bullet's field team. Samples were collected and placed in sample bags with their appropriate tag and processed at the company's own assay lab. Like any responsible producer, the company owns its own assay lab and regularly takes samples as part of its production process.

The samples analyzed by Silver Bullet Mines at its facility near Globe, Ariz., were processed through the lab jaw crusher, lab hammer mill and splitter box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degrees Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6:1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit.

Readers should be aware that the Silver Bullet Mines facilities have been designed for quick production grade control and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past samples with good correlation.

Robert G. Komarechka, PGeo, an independent consultant, has reviewed and verified Silver Bullet's work referred to herein; he is the qualified person for this release.

We seek Safe Harbor.

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