Silver Bullet Mines Corp. Reports Silver Assay Values Averaging 33.9 ounces per ton on its Washington Mine in Idaho
Rhea-AI Summary
Silver Bullet Mines (OTCQB: SBMCF) reported surface assays averaging 33.9 oz Ag/ton from 13 samples at the Washington Mine, Idaho, with individual assays ranging up to 269 oz Ag/ton. Autumn 2025 work included adit rehabilitation, a near-surface bulk sample, and underground NQ2 core drilling; core logging and assaying are in progress.
The company plans spring 2026 core drilling of the Washington Vein and further metallurgical testing prior to sampling-based mining. Warrant exercises generated proceeds of $588,033.
Positive
- Surface assays averaged 33.9 oz Ag/ton
- Highest surface assay of 269 oz Ag/ton
- Warrants exercised raised $588,033 in proceeds
Negative
- Qualified Person (P.Geo.) was not present for sample collection
- Assays were performed at the company’s in-house lab
News Market Reaction – SBMCF
On the day this news was published, SBMCF gained 16.19%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Burlington, Ontario--(Newsfile Corp. - February 18, 2026) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ("SBMI" or "the Company") is pleased to provide an update on its successful autumn exploration program at its wholly owned past producing Washington Mine in Idaho. The Washington Mine is on patented lands in the prolific placer gold district in Idaho.
This autumn work at the Washington Mine in Idaho is in addition to the mining and development currently being carried out at the KT Mine and the SC Mine, and in addition to the development of the recently acquired Columbia and Gold Queen Mines. All of these are past producers and are in Arizona.
Work undertaken at the Washington Mine by the SBMI geological team and mine contractor in the autumn of 2025 included rehabilitation of a historical adit, several back face core holes testing the Subrosa silver-gold structure, and extraction of a near-surface bulk sample from the Washington Silver Vein. The bulk sample remains on site within a locked location along with the recent core pending assaying. Rehabilitating the historical adit provides SBMI with two routes by which to access the historical underground workings and to access what it believes to be mineralized material.
Thirteen surface samples were collected along a steep slope about 110 feet from the Washington Mine shaft in a 5.5 foot wide quartz vein parallel to the Washington Vein. An overall average of the 13 samples assayed 33.9 ounces Ag per ton with assay values ranging from trace to a high of 269 ounces Ag per ton. These assay results are similar to those reported by a prior mine owner/operator who direct shipped several truckloads of Washington Silver Vein material to a smelter in 1981, as previously reported by the Company. These grades are also similar to the results of the Company's own bulk sample reported January 18, 2022.
Following panning efforts which returned gold from strongly altered material at the back face of the Subrosa adit, a limited end-of-season NQ2 core underground drilling program was launched. Logging, evaluation and assaying of the core is currently in progress. Evidence to date strongly supports gold mineralization being closely associated with the boundaries of an 11 foot wide, dark intrusive dike. Continuation of core drilling to test the westerly trend of the Subrosa vein structure is in the planning stage.
In addition to planning core drilling to test the westerly trend of the Subrosa vein structure, planning is in progress for a spring 2026 core drilling of the Washington Vein to determine grade and to confirm the mineralized volume in preparation for mining. Following removal of a bulk sample and further refinement of economics, SBMI will work with a mineral processor to finalize the metallurgical process. Preliminary positive metallurgical test work was completed by Montana Technological University (see SBMI news release February 14, 2022). The Company intends to initially mine additional material for testing purposes. This phase of property development is scheduled to commence in spring, 2026. The start date will be based upon conditions including weather and contractor availability.
John Carter, CEO of SBMI, states:
The Company continues to be very optimistic about the results of the program as it further demonstrates the property has incredible potential to contain significant high-grade precious metals. SBMI is currently planning the next phase of development of the mine and is particularly keen to advance exploration on a number of known gold and silver occurrences that remain untested.
At this time we are very pleased with the results of this phase of exploration and development. The Company looks forward to providing further updates in the near future.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed, verified and approved SBMI's work referred to herein and is the Qualified Person for this release as per the exchange requirements and NI 43-101 3.1. Note: The QP was not at the site for sample collection.
SBMI also announces 776,667 warrants previously issued in connection with a private placement have been exercised at a strike price of
QA/QC
The samples described in this news release were analyzed by SBMI at its in-house facility near Globe, Arizona. These samples were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the gold in the bead at approximately 175 degrees Fahrenheit yielding the reported silver values A much more detailed description of the process and a picture of the assay lab can be found at QA/QC Assay Lab - Silver Bullet Mines Corp.
For further information:
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 may 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 mineralized material; the results of exploration and development activities; 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/284327
FAQ
What average silver grade did SBMCF report from the Washington Mine samples?
How much funding did SBMCF receive from recent warrant exercises?
What exploration work did SBMCF complete at the Washington Mine in autumn 2025?
When does SBMCF plan follow-up drilling at the Washington Vein (SBMCF)?
Where were the Washington Mine assay samples processed for SBMCF?
Does SBMCF report any gold mineralization at the Washington Mine (SBMCF)?
