Welcome to our dedicated page for SILVER BULLET MINES news (Ticker: SBMCF), a resource for investors and traders seeking the latest updates and insights on SILVER BULLET MINES stock.
Silver Bullet Mines Corp (OTCQB: SBMCF; TSXV: SBMI) is an other precious metals and mining company focused on high-grade gold and silver projects in the United States. Its news flow centers on operational milestones at its mines and on the performance of its hub and spoke model built around a wholly owned mill and assay facility near Globe, Arizona.
Readers following SBMCF news can expect detailed updates on production and development at the KT Mine, the Super Champ (SC) Mine, the King Tut Gold Mine, and the Washington Mine in Idaho. Recent announcements have covered discoveries of new potential silver/gold zones at KT, visible gold in blasted material, and the progression from bulk sampling to commercial shipments of gold and silver concentrate.
News releases also highlight agreements with a major offtake client, including contracts to purchase silver concentrate from the SC Mine and to buy direct ship material from the KT and SC Mines. These items provide insight into how the company moves from exploration and development to concentrate sales and cash flow.
In addition to mine and mill updates, Silver Bullet Mines’ news includes information on mill throughput, assay results from its in-house lab and independent laboratories, QA/QC procedures, and site work such as adit timbering and underground development. Corporate updates on financings, warrant exercises, and debt conversions are also disclosed, giving context on how the company funds its projects.
For investors and observers tracking SBMCF, this news page offers a centralized view of exploration results, operational progress, concentrate shipments, and key commercial agreements across Silver Bullet Mines’ portfolio.
Silver Bullet Mines Corp. (SBMCF) has successfully closed the first tranche of its financing, raising $514,000 through the issuance of 4,283,333 Units at $0.12 per Unit. Each Unit includes one common share and one full warrant exercisable at $0.16 with a 36-month term, with no acceleration clause.
The funds will be allocated to accelerate development programs at two key properties: the Super Champ Mine in Arizona and the Washington Mine Property in Idaho, as well as for working capital. The company may pay referral fees to arm's length persons in connection with the Unit issuance.
Silver Bullet Mines Corp (TSXV: SBMI) (OTCQB: SBMCF) has announced a strategic private placement of up to $1.5 million, with a lead order of $500,000. The placement will comprise up to 12,500,000 units at $0.12 per unit, each including one common share and one purchase warrant exercisable at $0.16 for 36 months.
The funds will support accelerated development at the Washington Mine Property in Idaho and exploration at the Super Champ Mine in Arizona. The company's Arizona mill is currently processing silver concentrate from Super Champ Mine material, with revenue generation expected in Q1 2025.
Additionally, TSXV has approved the issuance of 481,967 common shares as interest payment on convertible debentures from May 2024.
Silver Bullet Mines Corp. (SBMCF) reports continued high-grade silver assays from its Super Champ property in Arizona. Recent sampling revealed silver grades up to 508.8 oz/ton, with channel samples across the vein assaying 76-79 oz/ton. The Super Champ vein spans 5-8 feet in width at surface and extends over 1000 feet, with potential continuation along strike and depth.
The company has completed necessary modifications to its mill to process Super Champ material more efficiently, planning to process 50 tons per day initially. SBMI is working with a potential client preparing an offer to purchase all available concentrate. The company plans to produce doré bars and concentrate from the processed material.
Silver Bullet Mines Corp. (SBMI) has initiated contract mining at the Idaho Washington Mine, signing with an experienced miner specialized in high-grade vein operations. The company is targeting a historic area last tested in the 1980s, where previous bulk samples showed 44 ounces silver and 0.1 ounces gold per ton, with recent random sampling confirming 58.5 ounces per ton silver. The miner has completed drilling of the pilot hole and is preparing the portal for timbering, aiming to drive a 12 x 12 foot adit to access the Target Zone, located approximately 80 feet from the portal opening. The company plans to take a bulk sample of at least 2,000 tons within two months of commencement.
Silver Bullet Mines Corp. (SBMI) has discovered a historical mining tunnel during development of the Super Champ vein structure. The historical adit, approximately 4 feet wide by 8 feet high, was found under 12 feet of overburden. Random samples from the newly intercepted Tunnel Zone showed exceptional silver grades, with four samples exceeding 1,000 oz silver/ton. Additional samples from historical waste piles returned values between 9.8 to 77.6 oz silver/ton. The company is conducting detailed sampling and plans to process a bulk sample at its mill in Globe, Arizona. Visible silver has been reported in the Tunnel Zone, and gold is visible in current mill concentrates.
Silver Bullet Mines (SBMI) has received confirmatory multi-element assay results from its Super Champ concentrate samples, processed at an independent accredited lab. The results show silver head grade of 28.0 oz/ton (877g), concentrate grade of 339.6 oz/ton (10,563g), and 88.2% recovery. Additionally, gold values in the concentrates assayed 0.52 oz/ton (16.16g/ton), potentially increasing concentrate value significantly. The company continues shipping material from Super Champ to its mill in Globe, Arizona for stockpiling and processing, with costs aligning with internal projections. SBMI has begun negotiations for concentrate sales.
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF) announced the closing of an oversubscribed Debenture financing amounting to $1,118,000. Cash commissions of $13,500 were paid, and 135,000 broker warrants were issued.
Proceeds will be used for ongoing work at the Buckeye Silver Mine in Arizona, former Washington Mine in Idaho, and processing material from a third-party property. The company has also entered into a lease agreement for the third-party property after completing a due diligence review, focusing resources to produce saleable product from this Land due to better economic efficiencies.
This financing enables SBMI to continue operations at both the Buckeye and Washington Mines.
Silver Bullet Mines Corp. (SBMI) has provided an update on its 500-pound sampling program of mineralized material from a third-party owned past-producing silver mine. The company conducted a detailed metallurgical test with the following results:
- Head grade: 19.2 ounces per ton silver
- Concentrate grade: 307.6 ounces per ton silver
- Tailings grade: 2.1 ounces per ton silver
- Concentration ratio: 18:1
SBMI believes these results are representative of both the sample and potentially the entire system. The company continues to run material and produce commercial grade concentrates for sale to its customers. SBMI is pleased with the progress on the new property and believes it, along with the Buckeye material, will provide excellent feed to the mill.
Silver Bullet Mines Corp. (SBMI) has entered an agreement to process high-grade mineralized material from a past-producing silver mine near its Buckeye Silver Mine in Arizona. The company has begun processing the material into saleable products, generating revenue. Key points:
- Initial 200-pound test run yielded an average head grade of 12.0 ounces per ton silver with over 90% recovery
- 500-pound sampling program showed assay values as high as 45.4 ounces per ton
- Six samples from the exposed vein returned assays between 10.0 and 45.6 oz Ag/t
- SBMI plans to process 50 tons per day, producing dore bars and high-grade concentrate
- The company continues work at its Buckeye Silver Mine, upgrading ventilation and conducting required rockbolting
Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) has signed a contract for underground mining at its Washington Silver Mine in Idaho. Mining is set to begin in early fall 2024, with plans to extract approximately 2500 tons of silver mineralized material. The company expects the material to contain gold credits as well, targeting a zone that previously yielded 44 oz/ton silver and 0.1 oz/ton gold in a 1980s bulk sample.
SBMI has also made progress at its Buckeye Silver Mine in Arizona, where ground support work is nearing completion. Mining from the higher grade Zone1 is expected to commence in the coming weeks, with processing to be done at the company's mill in Globe, Arizona.
The company cautions that its decision to proceed with production at the Washington Mine is not based on a pre-feasibility or feasibility study, which may increase economic and technical risks.