Bayhorse Silver Starts New Drill Program at Bridging The Gap Silver Project in Idaho - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - October 13, 2017) - Bayhorse Silver (TSXV: BHS) (OTCBB: KXPLF) (FSE: 7KXN) has started a new diamond drill program at its Bridging The Gap Silver Project in Idaho. The 75% owned Bridging The Gap property lies between two historic, formerly producing mines, the Bunker Hill Mine and Asarco's Page Mine.
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According to the U.S. Bureau of Mines, production from the 6 mines on the Bridging the Gap Project, the Blackhawk, Wyoming, Ranger, Crown Point, Silver King and Curlew Mines, totalled more than 2 million ounces of silver, 9.4 million pounds of zinc and 6 million pounds of lead, for the period between 1886 and 1940. Their records also show that Crown Point Mines historically worked on vein systems with reported in-situ grades of up to 80 ounces per ton silver and 65% lead, from which 3,000 tons of ore was direct shipped at that grade.
The Crown Point/Silver King Mines closed in 1940 with total production of 116,906 tons averaging 12 ounces per ton silver and 11.3% lead.
Following completion of the access roads to the first drill pads on the Crown Point structure, Bayhorse has mobilized its drill rig. The first drill target is a pair of parallel silver/zinc/lead veins at the historic Crown Point Mine, and approximately 300 feet to the south, the parallel Shea structure.
Historic Bunker Hill mining records report a 30 foot mineralized intersection made in 1936 by an underground drill hole from the 200 foot level at the Crown Point workings, into the parallel wall Shea zone, that was never followed up.
Graeme O'Neill, President & CEO, stated: "Despite being sandwiched between two past producing mines, due to claim boundary issues between Bunker Hill Mining and ASARCO, and the subsequent transfer of the property to the EPA, the Bridging The Gap mines have remained unavailable for exploration and development for the past 76 years. We are very pleased to be heading our second round of exploration on the Project."
Upon completion of the Crown Point holes, the rig will be moved to the western side of the project to drill the Wyoming and Curlew Targets.
Earlier drilling by Bayhorse enabled an understanding of the stratigraphy and structural geology and identified the location at depth of the Osburn Fault. Mineralization in the district is related spatially to the Osburn Fault and closely parallel structures. Exploration potential for the Crown Point, Silver King, and Shea structures at depth is substantial.
The Crown Point/Silver King zone was only mined down to the 200 level, but an exploration shaft extended the mineralized structure to 800 feet. The highly prolific Bunker Hill Mine immediately adjacent to the east was mined down to 5,800 feet, and the Page Mine, on the west side, was mined down to the 3,500 foot level. Hecla's nearby "Lucky Friday" Mine is currently being extended to the 10,000 foot level.
At the company's Bayhorse Silver Mine in Oregon, in which the company has earned an 80% interest, the company is awaiting arrival of its newly acquired Ore-Sorter equipment from Germany.
The shares are trading at $0.23 and with 59.4 million shares outstanding, the company is capitalized at $13.7 million.
For more information, please visit the company's website www.bayhorsesilver.com, contact Graeme O'Neill, President and CEO, at 604-684-3394 or email company@bayhorsesilver.com.
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