Silver Bullet Mines Corp has updated investors on progress at its Washington mine and Buckeye mine projects in Idaho and Arizona, western USA, respectively.
"In Arizona at the Buckeye, core drilled by a prior optionee at the Buckeye Mine in 2017 has been located and a chain of custody established. The core is being re-logged," the company told investors in a statement.
"It is intended that some of such core will be split and sent to an accredited third-party lab for testing, and the remainder will be stored after it is logged."
Meanwhile, in Idaho, the company said it believes the entrance to the historical past-producing Washington gold and silver mine is secure.
"Efforts continue to ensure the access area past the entrance is safe to enable the field team and contract miner to advance towards what is believed to be the mineralized zone. A mining engineer has created a mine plan and a ventilation plan which will be implemented once the area is secure," said Silver Bullet Mines.
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The company added that the mining plan at the Washington Mine was "subject to evolution" but noted the current plan was to "mine around the caved area, develop a raise in the mineralized material up to surface, and to work through the winter as possible".
This requires the company to acquire an explosive licence, for which it is applying, it added.
Silver Bullet Mines cautioned in the statement that the company's decision to move forward with the construction of and production at the Washington mine and the Buckeye mine was not "based on the results of any pre-feasibility study or feasibility study of mineral resources demonstrating economic or technical viability".
It added that it is of the view that the "establishment of mineral reserves by way of a pre-feasibility or feasibility study at this stage is not necessary and would be unduly costly, and that the most responsible utilization of the company's resources is to proceed with the development of the mines".
Contact the author at giles@proactiveinvestors.com