Bayhorse Silver Underground Drilling Underway at the Bayhorse Silver Mine, CEO Discusses Bayhorse Concentrate Antimony Content

Rhea-AI Summary

Bayhorse Silver has commenced underground diamond drilling at its Bayhorse Silver Mine in Oregon, targeting a large low-resistivity anomaly beneath the silver/copper/antimony rich rhyolite. The anomaly extends 1.5+ km with a vertical extent of 500m and width up to 100m.

The drilling operation expects to achieve approximately 30 meters of core per shift, aiming to intersect the anomaly 150m downhole with a projected depth of 257m. Notably, the Bayhorse mineralization contains 10-12% Antimony in its concentrate, which has gained strategic importance following China's export ban to the US. The current antimony price is US$16 per lb and is expected to rise.

The company plans to test the Sunshine Process for separating antimony from silver/copper in the concentrate for potential added value.

Positive

• Contains significant antimony content (10-12%) in concentrate amid rising prices (US$16/lb) and China's export ban
• Large exploration target identified with 1.5+km anomaly for drilling
• Potential for additional value through antimony separation using Sunshine Process

Negative

• None.

News Market Reaction – BHSIF

+4.12%

1 alert

+4.12% News Effect

On the day this news was published, BHSIF gained 4.12%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - December 10, 2024) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") announces that underground diamond drilling is underway beneath the Company's silver/copper/antimony rich Bayhorse Silver Mine in Oregon, USA.

Diamond drilling is targeting the large low-resistivity anomaly that lies beneath the silver/copper/antimony rich bearing rhyolite at the Bayhorse Silver Mine. The 1.5 +km (5,000 feet) anomaly appears to have a vertical extent of 500 m (1,650 ft) from 600 m (1,980 ft) above sea level to 100 m (330 ft) above sea level and a width of up to 100 m (330 ft).

The Company anticipates good drilling ground for a large portion of the drill hole, estimating at least +/- 30 meters (100 feet) of drill core per shift, intersecting the top of the anomaly 150 m (495 ft) down hole with a projected termination depth of 257 m (850 ft) at the east side of the anomaly.

Antimony – In addition to its high Silver/Copper content, the Bayhorse mineralization, tetrahedrite, contains a significant amount of Antimony, a critical mineral that is mostly imported into the U.S. Prior testing has shown Antimony to be between 10% - 12% of the Bayhorse concentrate. With the recent ban by China of exporting antimony into the U.S., that is a highly sought after component of both explosives and flame retardants, prices are expected to increase for the near future.

In the sections image below, line 1040 lies directly beneath the diamond drill location, while line 1050 is 100 m (330 ft) east of and just outside the underground workings.

Figure 1. Resistivity data from survey by Geotech Ltd's proprietary VTEM system. Sections show the position of the planned drill hole intersection in the upper portion of the anomaly beneath the Bayhorse Silver Mine.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5015/233168_a476d533748fab96_001full.jpg

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Figure 2. Resistivity data from survey by Geotech Ltd's proprietary VTEM system. Plan view shows pronounced low-resistivity anomaly (survey lines 1040-1050) in relation to the Bayhorse Mine underground workings.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5015/233168_a476d533748fab96_002full.jpg

Figure 3. Surface representation of the underground drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5015/233168_a476d533748fab96_003full.jpg

The Bayhorse exploration model holds that the silver/copper/antimony rich mineralized rhyolite at the Bayhorse Silver Mine could have its source in underlying shallow granites that may be conductive porphyry copper.

Bayhorse CEO, Graeme O'Neill, comments "the recent significant increase in the price of Antimony to US$16 per lb, and predicted to go higher (mining.com.au), adds to the already significant silver and copper values in the Bayhorse mineralization, not taking into account what we may intercept between the Bayhorse Mine and the anomaly. As the Bayhorse mineralization, tetrahedrite, is refractory in nature, and the Sunshine Process, developed by the Sunshine Mine, Kellogg, Idaho, separates the antimony and the sulphur without roasting, testing is planned on utilizing the Sunshine Process on the Bayhorse concentrate to separate the Antimony from the silver/copper in the concentrate for potential added value."

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/233168

FAQ

What is the current drilling target at Bayhorse Silver Mine (BHSIF)?

Bayhorse Silver is targeting a large low-resistivity anomaly beneath the silver/copper/antimony rich rhyolite, extending 1.5+ km with a vertical extent of 500m and width up to 100m.

How much antimony content is present in Bayhorse Silver's (BHSIF) concentrate?

The Bayhorse mineralization contains 10-12% antimony in its concentrate.

What is the current price of antimony mentioned in Bayhorse Silver's (BHSIF) announcement?

The current antimony price is US$16 per pound and is expected to increase following China's export ban to the US.

What process will Bayhorse Silver (BHSIF) test for antimony separation?

Bayhorse Silver plans to test the Sunshine Process, developed by the Sunshine Mine in Kellogg, Idaho, to separate antimony and sulfur from silver/copper in the concentrate without roasting.