SILVER BULLET MINES CORP Stock Price, News & Analysis

Silver Bullet Mines Corp. (SBMCF) has completed the first phase of development at its Washington Mine in Idaho. The company successfully advanced a 12x12 foot main haulage tunnel 190 feet and intercepted the historical Berger Vein and Eastern silver/gold shoot. Notable assay results include a significant 30.1 ppm gold sample, with multiple samples showing anomalous gold and silver values in the host rock. The company identified two prospective gold/silver targets, including the Subrosa, which historically reported 995.31 ppm silver and 4.04 ppm gold over 65 feet. SBMI plans to commence mining high-grade silver/gold material from multiple targets and conduct underground drilling for a potential NI 43-101 compliant resource report. The company will issue 437,584 shares to pay $67,826 in debenture interest, and announced the resignation of board member Kerem Usenmez.

Silver Bullet Mines (SBMCF) has completed the first phase of development at its Washington Mine in Idaho, achieving significant milestones. The company successfully advanced a 12x12 foot main haulage tunnel 190 feet and intercepted the historical Berger Vein and Eastern silver/gold shoot. Notable assay results include a high-grade sample of 30.1 ppm gold from the host rock, with 32 samples showing anomalous gold and silver values. Within the Washington vein itself, recent samples reached up to 3,000 ppm gold. The company identified two promising gold/silver targets, including the Subrosa, which historically reported 995.31 ppm silver and 4.04 ppm gold over 65 feet. SBMI plans to begin mining high-grade silver/gold material from multiple targets and conduct underground drilling for a potential NI 43-101 compliant resource report.

Silver Bullet Mines Corp. (SBMCF) has announced significant developments at its Super Champ Mine and a new sales agreement. The company has signed an open purchase agreement for its gold and silver concentrate, effective April 11, 2025 through December 31, 2026, with a US-based purchaser.

Recent assays from blast material showed impressive results, with the highest grab sample returning 217.6 oz/ton silver. Panned material yielded 572 oz/ton silver, while waste rock contained 7.6 oz/ton silver. A dore bar analysis showed composition of 82.6% silver, 4.1% gold, and other elements.

The company is developing a new adit to access the Super Champ mineralization, following the discovery of a historical mining tunnel that yielded four grab samples exceeding 1000 oz/ton silver. SBMI has staked 11 additional claims covering the entire exposed system. The project is fully permitted and compliant with regulatory requirements.

Silver Bullet Mines Corp (TSXV: SBMI) (OTCQB: SBMCF) has achieved a significant milestone by increasing its concentrate grade from Super Champ material to 530 ounces per ton silver, representing a 12% improvement over the previous production run. This enhancement was accomplished through improved mill efficiencies and higher head grade.

The company is currently developing an adit perpendicular to the Super Champ vein, which will enable development in two directions and potentially increase higher-grade material tonnage while reducing production risk. Following their first concentrate sale announced on February 21, 2025, the buyer has successfully completed testing, reporting high silver recovery and significant gold content, though specific data remains unreleased due to QA/QC considerations.

The company has also issued 1,071,429 common shares at $0.14 per share through a Securities for Services agreement, with a hold period expiring July 20, 2025.

Silver Bullet Mines Corp (SBMCF) reports significant progress at its Super Champ Mine in Arizona, where development has been ongoing since November 2024. The company has successfully delineated a vein over 1500 feet and begun driving a development adit, with samples yielding impressive assay results up to 405.4 ounces per ton silver.

The company is currently processing material at their 100%-owned mill in Globe, Arizona, at a rate of 7 tons per hour. The vein is located approximately 70 feet from the adit opening, which has advanced over 25 feet. SBMI has already completed its first sale of concentrates from Super Champ material and is prepared for subsequent shipments.

The development continues without requiring additional capital expenditures, as the company has all necessary equipment in place. SBMI believes silver grades will increase at depth based on strong assay values and secondary enrichment science.

Silver Bullet Mines Corp (TSXV: SBMI) (OTCQB: SBMCF) has accessed the historic high-grade silver vein at its Washington Mine in Idaho. The company has expanded the adit to 12ft x 12ft, advancing over 190 feet and establishing 4 drill stations. The targeted vein averages 6 feet wide, with all drill holes successfully intercepting it.

According to the Stoker Report, the blocked-out volume contains an estimated 3 million ounces of silver (grading 30-90 ounces per ton) and 15,000 ounces of gold (at 0.3 ounces per ton). The report also identifies the 'Berger Vein', a gold ore shoot 25 feet wide and 135 feet long.

Initial oxide material samples showed up to 18 ounces per ton silver using X-ray fluorescence. The company is now focusing on extracting a 2,500-ton bulk sample and developing the mine further, with recent core samples showing multiple gold veinlets and potential high-grade silver content.

Silver Bullet Mines Corp. (SBMCF) has achieved a significant milestone by shipping its first order of silver concentrate processed from the Super Champ mine in Arizona. The company has successfully reached and maintained its targeted production rate of 6-7 tons per hour at its 100% owned mill in Globe, Arizona.

The company currently has approximately 3,000 tons of material stockpiled at the mine and mill, representing about 60 days of processing capacity. SBMI is transitioning from processing lower-grade material to higher-grade material, which is expected to increase the silver grade in the concentrate. To support increased production, the company has purchased a larger excavator with double the capacity of the current rental unit and a larger well pump.

The company recently closed a financing on February 18, 2025, issuing 597,300 finders warrants with a three-year term, exercisable at sixteen cents to arm's length parties.

Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB:SBMCF) has received TSXV approval to extend the closing date of its previously announced financing by 30 days from January 24, 2025. The private placement consists of Units priced at $0.12 per Unit, with each Unit including one common share and one full warrant at $0.16 with a 36-month term.

The funds will be allocated to accelerated development programs at both the Super Champ Mine in Arizona and the Washington Mine Property in Idaho, as well as working capital. The warrants have no acceleration clause, and referral fees may be paid to arm's length persons for Unit issuance.

Silver Bullet Mines Corp. (SBMCF) has completed the first phase of underground development at its Washington Mine in Idaho. The company engaged a contract miner who has successfully completed several key milestones:

The miner has established a 12 foot x 12 foot adit, advancing approximately 90 feet as planned in the Stoker Report. The portal has been properly secured with screening, rock bolting, and timbering. The miner is now making a 50-degree turn eastward parallel to the historical silver zone.

The company plans to extract approximately 2,500 tons of material for processing at a nearby third-party mill. The development includes infrastructure for year-round mining operations, with construction of equipment bays, storage, and water systems underway. The project aims to potentially intercept historic Washington Gold workings and access the Berger Gold vein and Washington Silver vein structures.