Silver Bullet Mines Corp. (TSX-V:SBMI, OTC:SBMCF) told investors it is again processing mineralized material at its 125 tons per day (tpd) pilot plant, with the mill currently being fine-tuned with low-grade material to set the recovery parameters.
Having resolved the issues with pouring silver dore bars, and having made the necessary related modification to the mill circuit, the Burlington, Ontario-based company said that it intends to soon process higher grade material. To date, it said the mill has been operating to specifications with non-detectable values for silver in the tailings produced from the shaker table.
READ: Silver Bullet Mines assays 270.6 ounces per ton silver in upper vein at Buckeye Mine in Arizona
The company said it has one outstanding order for 50 kilograms (kg) of silver including credits for any contained copper or gold. The purchaser of the 50 kg has indicated a willingness to acquire up to 500 kg of silver on one week's written notice. It said it is also in discussions with other potential purchasers.
Like any responsible producer, Silver Bullet Mines said it operates its own assay lab and continues to implement a strategic sampling program using that lab to enable it to maintain silver grade control to the mill.
Recent highlight assays
High grade vein material
- 270 ounces per ton silver
- 290 ounces per ton silver
- 297.6 ounces per ton silver
- 284 ounces per ton silver
Green vein material
- 60 ounces per ton silver
- 78.8 ounces per ton silver
- 47.2 ounces per ton silver
- 40.5 ounces per ton silver
Silver coloured vein material
- 79.4 ounces per ton silver
- 89 ounces per ton silver
- 96.8 ounces per ton silver
- 43 ounces per ton silver
10ft channel samples across vein
- 18 ounces per ton silver average across 10ft at 432ft from the adit portal
- 49.6 ounces per ton silver average across 10ft at 444ft from the adit portal
Drill cuttings from blast holes
- 2.8 ounces per ton silver average over 12ft at 420-432ft from the adit portal
- 5.8 ounces per ton silver average over 12ft at 432-444ft from the adit portal
The company said it currently has approximately 750 tons of run-of-mine mineralized material at the mine site ready for transportation to and processing at the mill site in Globe.
Silver Bullet Mines has projects in the western US. The company’s flagship Black Diamond project is in Gila County, Arizona in the Miami-Globe copper camp and is centered on the Richmond Basin. The property covers nearly 5,000 acres and is host to several past-producing underground primary silver mines.
Contact the author at stephen.gunnion@proactiveinvestors.com