|Silver Bull Identifies a new Massive Sulpide Zone Grading up to 1315 G/T Silver, 12.8% Copper, 18.3% Lead and 42% Zinc at the Sierra Mojada Project, Coahuila, Mexico. |
August 23, 2017
Vancouver, British Columbia -- Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) ("Silver Bull") is pleased to announce it has identified a new zone of high grade massive sulphide at its Sierra Mojada Project in Coahuila, Northern Mexico.
Highlights from select channel samples in the new sulphide zone include;
1) Highlights from the channel sampling program include:
1. Sample 25736 @ 1130g/t silver, 22% zinc, 3.26% lead, 12.8% copper.
2. Sample 25727 @ 1315g/t silver, 0.05% zinc, 9.0% copper.
3. Sample 25735 @ 713g/t silver, 3.4% zinc, 0.14% lead, 1.1% copper.
4. Sample 25805 @ 491g/t silver, 24.7% zinc, 1.6% copper.
5. Sample 25739 @ 495g/t silver, 7.09% zinc, 2.68% lead, 1.06% copper.
6. Sample 25728 @ 392g/t silver, 0.4% zinc, 1.8% copper.
7. Sample 25732 @ 329g/t silver, 42% zinc, 3.2% lead, 1.65% copper.
8. Sample 25806 @ 277g/t silver, 19.65% zinc, 18.3% lead, 0.7% copper.
9. Sample 25803 @ 73g/t silver, 19.2% zinc, 4.8% lead, 0.3% copper.
10. Sample 25802 @ 42g/t silver, 10.5% zinc, 2.4% lead, 0.17% copper.
11. Sample 25801 @ 33g/t silver, 8.1% zinc, 3.4% lead, 0.1% copper.
2) The new sulphide zone lies within a 1.4 kilometer long east-west trending "chargeability high" identified through a gradient Induced Polarization (IP) survey. This east-west trending zone hosts two other zones Silver Bull has identified with sulphide mineralization which grade up to 690g/t silver, 35% zinc, 19% lead and 1% copper as well and also includes Silver Bull's only significant sulphide drill hole intercept of 8.45m @ 57g/t silver, 5.45% lead, 16.98% Zinc.
3) The chargeability anomaly remains open towards the west and coincides with a convex "roll over" in the sole of a thrust fault identified through drilling and underground mapping.
4) The new zone of massive sulphide is accessible via existing historical underground workings.
The channel samples mentioned in this news release target sulphide mineralization which grades up into the overlying oxide mineralization of Shallow Silver zone already defined at Sierra Mojada. The new sulphide zone was identified by accessing and reconditioning underground workings not previously accessible to Silver Bull. Continuous 1 to 3 meter long chip samples were taken along the walls of the underground workings. The purpose of the program was to extend the mineralization of the known sulphide zone, and better understand the geology and controls on the mineralization, and confirm the overall grades of the sulphide grades historically mined at Sierra Mojada. Approximately 280 meters of "new" underground workings were opened up and 19 initial channel samples taken. Eight samples recorded values over 250g/t silver with a peak value of 1315g/t silver, ten samples recorded values over 7% zinc with a peak value of 42% zinc, and six samples recorded values over 3% lead with a peak value of 18.33% lead.
|Sample ID||Length (m)||Silver (g/t)||Zinc (%)||Lead (%)||Copper (%)|
Figure 1. Location of the new sulphide zone of mineralization in relation to the previously defined oxide 43-101 resource previously defined at Sierra Mojada.
Figure 2. Location of the new sulphide zone in relation to the two other known occurrences of sulphide mineralization. All three know sulphide occurrences are located in an east-west trending chargeability high identified in an Induced Polarization geophysics survey. This geophysics anomaly is over 1.4 kilometers in length and is open to the west.
Figure 3. Plan View map of the underground working and sample locations for the initial channel sampling program. Mapped zones of continuous mineralization are also shown. These east-west trending zones will be the target of drill program expected to start at the end of the month to test the continuity of the mineralization along strike and down dip.
Tim Barry, President, CEO and director of Silver Bull states, "The significance of finding sulphide mineralization at Sierra Mojada is that it will likely have very straight forward metallurgy and appears to have a consistently higher grade for silver when compared to our current NI43-101 compliant oxide resource. We have now defined three separate high grade sulphide occurrences to form an east-west sulphide target zone 1.4 kilometers long which is open to the west. The new sulphide zone sits at a level below the already defined oxide mineralization and has opened up a whole new series of high grade targets. From our underground geological mapping we see a number of high angle structures up to 2 meters wide containing sulphide mineralization grading up to 1,300 grams per ton silver, 42% zinc and 13% copper that appear to feed into the overlying oxide zone. Presently we are planning a more comprehensive channel sampling and underground drill program using the company owned Termite drill to test the continuity along strike and down dip of these very high grade zones. Additionally we will also aim to test the areas in between these high grade zones to see if there is potential for a bulk tonnage sulphide target. We expect this drill program to start before the end of the month."
About the Sierra Mojada deposit: Sierra Mojada is an open pittable oxide deposit, as disclosed in the NI43-101 "Technical Report on the Resources of the Sierra Mojada Project Coahuila, Mexico" dated June 8, 2015, with a NI43-101 compliant measured and indicated "global" resource of 58.7 million tonnes grading 3.6% zinc and 50g/t silver at a $13.50 NSR cutoff giving 4.670 billion pounds of zinc and 90.8 million ounces of silver. Included within the "global" resource is a measured and indicated "high grade zinc zone" within the Lerchs-Grossman (LG) Optimized Pit of 10.03 million tonnes with an average grade of 11% zinc at a 6% cutoff, giving 2.426 billion pounds of zinc, and a measured and indicated "high grade silver zone" of 19 million tonnes with an average grade of 102.5g/t silver at a 50g/t cutoff giving 62.6 million ounces of silver. Mineralization remains open in the east, west, and northerly directions. Approximately 60% of the current 3.2 kilometer mineralized body is at or near surface before dipping at around 6 degrees to the east.
Sample Analysis and QA/QC: All samples have been analyzed at Bureau Veritas in Vancouver, BC, Canada. Samples are first tested with the "MA300" procedure which analyzes for 36 elements using a 4 acid digestion. Samples with silver values above 100ppm are re-analyzed using the FA350 procedure which is a fire assay with a gravimetric finish. Samples with zinc, lead, and copper values above 10,000ppm (1%) are re-analyzed using the AR402 procedure which is a near total aqua regia digestion.
A rigorous procedure is in place regarding sample collection, chain of custody and data entry. Certified standards and blanks, as well as duplicate samples are routinely inserted into sample shipments to ensure integrity of the assay process.
About Silver Bull: Silver Bull is a mineral exploration company whose shares are listed on the Toronto Stock Exchange and trade on the OTCQB in the United States, and is based out of Vancouver, Canada. The "Sierra Mojada" project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc.
The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board of Directors
Tim Barry, CPAusIMM
Chief Executive Officer, President and Director
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