Bayhorse Silver Announces Drill Program on Bayhorse Mine VTEM Anomaly for Potential Porphyry Copper Target

Rhea-AI Summary

Bayhorse Silver Inc. (TSXV: BHS) (OTCQB: BHSIF) announces an underground diamond drill program to explore a large low-resistivity anomaly beneath its Bayhorse Silver Mine in Oregon, USA. The program aims to test for the presence of a porphyry copper deposit. The anomaly extends northward for over 5,000 ft (1.5km) and has a vertical extent of 330 ft (100 m).

The company plans to drill from 230 ft inside the underground workings into the anomaly at 755 ft beneath the silver/copper rich bearing rhyolite. Bayhorse's exploration model suggests that the mineralized rhyolite could have its source in underlying shallow granites that may be conductive porphyry copper bodies. The highest grade identified at the mine is 15% Silver, 17% Copper.

A downhole geophysics program is also planned upon completion of the drill program to gain a clearer picture of the mineralization profile.

Positive

• Potential discovery of a porphyry copper deposit beneath the existing silver mine
• Large low-resistivity anomaly extending over 5,000 ft (1.5km)
• High-grade silver and copper mineralization already identified (15% Silver, 17% Copper)

Negative

• Exploration is speculative and success is not guaranteed
• Additional costs associated with the new drill program and downhole geophysics

Vancouver, British Columbia--(Newsfile Corp. - September 25, 2024) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") announces an underground diamond drill program to drill the large low-resistivity anomaly that extends from beneath the Company's silver/copper rich Bayhorse Silver Mine in Oregon, USA, and extends northward for over 5,000 ft (1.5km) to the north, to test for the presence of a porphyry copper deposit.

Figure 1. Resistivity data from survey by Geotech Ltd's proprietary VTEM system. Sections show the position of Bayhorse Silver Mine in relation to two pronounced low-resistivity anomalies separated approximately 5,000 ft (1.5 km) by the Brownlee Reservoir.

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Figure 2. Resistivity data from survey by Geotech Ltd's proprietary VTEM system. Plan view shows pronounced low-resistivity anomaly (line 1030) in relation to the Bayhorse Mine underground workings

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Figure 3. Surface representation of the underground drill holes

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Bayhorse plans to drill from 230 ft (70m) inside the underground workings into the large low-resistivity anomaly at 755 ft (229 m) beneath the silver/copper rich bearing rhyolite at Bayhorse Silver Mine to test for the presence of a porphyry copper deposit. With a calculated vertical extent of 330 ft (100 m) this large anomaly (BHS2024-05) lies at the northwest corner of the VTEM geophysical survey (Line 1030, Figure 1) and is open to the north beyond the VTEM survey northern boundary.

The Bayhorse exploration model holds that the silver/copper rich mineralized rhyolite at the Bayhorse Silver Mine could have its source in underlying shallow granites that may be conductive porphyry copper bodies as reflected by the low-resistivity anomalies (Conway, 2024). The highest silver/copper grade identified at the Bayhorse Silver Mine is 15% Silver, 17% Copper (BHS2014-01) while gold values up to 10 g/t have been reported from historical mining (Silver King Mines 1984).

A downhole geophysics program over an underground strike length of over 1320 (450 m) feet using the existing underground drill holes, and including the new drill holes, is planned upon completion of this drill program to gain a clearer picture of the mineralization profile of the Bayhorse Mine.

This exploration model is based largely on Hercules Metals' recently discovered porphyry copper deposit underlying historic silver mines in the Cuddy Mountains district some 45 kilometers northeast of Bayhorse/Pegasus. There the porphyry copper has a low-resistivity signature thus, it may be inferred that porphyry copper deposits could be present at Bayhorse/Pegasus and also at the Mineral district. (BHS2024-18).

Bayhorse CEO, Graeme O'Neill, comments "the low-resistivity/high-conductivity anomaly that we are targeting is in very close proximity to the Bayhorse underground working and appears to extend from approximately 550 ft (166 m) beneath the Mine workings to depth of approximately 1,020 ft (309m) for a 470 ft (142 m) vertical extent, a width of 350 ft. and a calculated strike length of 550 ft (151m). The Hercules porphyry copper discovery has been made at approximately 450 m (1,485 ft) level below grade."

This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Mark Abrams, AIPG,, a Qualified Person has prepared, supervised the preparation of, or approved the technical content of this press release.

On Behalf of the Board.

Graeme O'Neill, CEO
866-399-6539

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 and the Pegasus Project, in Washington County, Idaho. The Bayhorse Silver Mine and the Pegasus Project are 44 km southwest of Hercules Metals' porphyry copper discovery. The Bayhorse Mine includes a state of the art Steinert Ore-Sorting technology reducing waste rock entering the processing stream by up to 85%. The Company has created a minimum environmental impact facility capable of mining 200 tons of mineralization per day and the ability to process and supply 3,600 tons per year of silver/copper concentrate ranging between 7,500 to 15,000 g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224517

FAQ

What is the purpose of Bayhorse Silver's new drill program?

Bayhorse Silver's new underground diamond drill program aims to test for the presence of a porphyry copper deposit beneath its existing Bayhorse Silver Mine in Oregon, USA.

How large is the anomaly Bayhorse Silver (BHSIF) is targeting?

The low-resistivity anomaly Bayhorse Silver is targeting extends northward for over 5,000 ft (1.5km) and has a vertical extent of 330 ft (100 m).

What is the highest grade of mineralization identified at the Bayhorse Silver Mine?

The highest grade identified at the Bayhorse Silver Mine is 15% Silver and 17% Copper.

What additional exploration is Bayhorse Silver (BHSIF) planning after the drill program?

Bayhorse Silver is planning a downhole geophysics program over an underground strike length of over 1320 feet (450 m) to gain a clearer picture of the mineralization profile of the Bayhorse Mine.