Silver Bullet Mines Announces Confirmatory Assay Results on Silver Concentrate from Super Champ
Rhea-AI Summary
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.
Positive
- Independent lab confirms high silver grades with 88.2% recovery rate
- Discovery of significant gold content (0.52 oz/ton) adds value to concentrate
- Processing costs align with management projections
- Commenced negotiations for concentrate sales
Negative
- None.
News Market Reaction
On the day this news was published, SBMCF declined 7.98%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Burlington, Ontario--(Newsfile Corp. - November 12, 2024) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it has received multi-element assay results from samples taken from the Super Champ concentrate. These samples were processed by an independent accredited lab. The concentrate was processed at SBMI's mill in Globe, Arizona.
The Super Champ is the property owned by a third party upon which SBMI has a perpetual lease, as announced on October 21, 2024.
On October 9, 2024 SBMI disclosed the following silver assay results from this Super Champ concentrate, as processed at SBMI's own assay lab in Globe:
- Head grade - 19.2 ounces per ton silver (597 grams)
- Concentrate grade - 307 .6 ounces per ton silver (9,567 grams)
- Recovery -
89%
Today SBMI discloses the following silver assay results from this same Super Champ concentrate, as processed by the independent accredited lab:
- Head Grade - 28.0 ounces per ton silver (877 grams)
- Concentrate Grade - 339.6 ounces per ton silver (10,563 grams)
- Recovery -
88.2%
The independent accredited lab also assayed for gold as part of the multi-element analysis. SBMI is pleased to announce gold values in the Super Champ concentrates assayed .52 ounces (16.16 grams/ton), which represents a potential significant increase in the value of the concentrates.
Management is very pleased with these results, which confirm its high level of confidence that the Super Champ material is highly mineralized with silver and that SBMI's assay lab is providing accurate data.
With the multi-element analysis in hand from the third party lab, SBMI has now entered into meaningful negotiations for the sale of the concentrate. The timing of such sales will likely depend upon the tonnages requested by the buyers.
SBMI continues to ship material from the Super Champ to SBMI's mill for stockpiling and processing. As a result of data gathered during the sample runs carried out in September and October, SBMI is making minor modifications to the mill to improve efficiencies. The bag setup for the concentrate is in place and bags are already being filled.
To date, the cost of removing, transporting and processing the Super Champ material is roughly in accordance with management's internal projections.
QA/QC
Run of Mine samples were mined from surface workings on the Super Champ Vein and hauled to the Silver Bullet's millsite in Globe.
At the mill, a 500 pound representative sample was crushed, ground, and run through a splitter box to yield a head grade sample of approximately 500 grams. The other four samples were concentrates collected off the Diester table (model 6B) by Bob Budd, certified Arizona assayer, metallurgical engineer and chief assayer for Silver Bullet, as well as Vic Henderson, certified Arizona Assayer.
The above five samples were then packaged, labeled, and shipped by courier to Activation Laboratories Ltd. (Actlab), 41 Bittern Street, Ancaster, Ontario.
At Actlab's lab two analysis were undertaken on all five samples:
1) A 36 multi-element total digestion with an ICP (induced coupled plasma) finish; and
2) A fire assay followed by a gravimetric analysis.
Standards, blanks and duplicates were not submitted by the Company as Actlab used its own QA/QC.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI's work referred to herein, and is the Qualified Person for this release.
For further information, please contact:
John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229578
FAQ
What are the latest silver assay results for SBMCF's Super Champ concentrate?
What is the gold content in SBMCF's Super Champ concentrate?
Where is SBMCF processing the Super Champ material?
