Bayhorse Silver Submits Silver/Copper/Antimony Concentrate Samples From Its Bayhorse Silver Mine To Allihies Engineering For Antimony Leach Testing

On October 16, 2025, Bayhorse Silver announced it has submitted flotation concentrate samples from its Bayhorse Silver Mine to Allihies Engineering Inc. for metallurgical testing. The goal is to test Allihies' proprietary Alkaline Selective Leaching (ASL) hydrometallurgical technology for its effectiveness in extracting antimony. The news release highlights that this technology has successfully achieved up to 99% antimony extraction from similar tetrahedrite mineralization at another mine. If successful for Bayhorse, this process could enable the recovery of all critical minerals present in the concentrate—silver, copper, zinc, and antimony—potentially making them all payable and significantly altering the project's economics.

This news is materially positive, although its ultimate impact is contingent on future results. The company's core challenge is not just the grade of its deposit but the metallurgical complexity of its refractory tetrahedrite ore. The existing 2018 resource calculation assumes recoveries of only 87% for silver and a mere 35% for copper, with zero economic value attributed to the significant antimony and zinc components.

By initiating tests on a leaching technology with a proven precedent, Bayhorse is taking a concrete step to address this fundamental economic hurdle. Success would be a game-changer, transforming the Bayhorse Mine from a primarily high-grade silver project with poor by-product credits into a multi-metal asset where all four critical minerals could become significant revenue streams.

However, it is crucial to recognize this is only the initiation of testing. No results have been provided. The market may react positively to the potential, but the true value creation depends entirely on the outcome of these tests. While not a "Game Changer" until positive results are announced, this development is far from routine. It represents a clear and logical strategy to unlock the full value of the deposit, directly addressing the project's primary technical and economic risk. The recent upward move in the stock price from $0.04 to $0.08 may already reflect anticipation of positive news flow from the company's various exploration and metallurgical initiatives.

Bayhorse Silver Inc. is a junior mineral exploration and development company. Its flagship asset is the 100%-owned Bayhorse Silver Mine in Oregon, USA, which hosts a high-grade, silver-rich polymetallic (silver, copper, antimony, zinc) deposit. The project has a 2018 NI 43-101 inferred mineral resource of 292,300 tons at 673 g/t silver for 6.3 million ounces. The company also controls the adjacent Pegasus Project in Idaho, which it is exploring for a potential porphyry copper deposit. Bayhorse owns its processing infrastructure, including a Steinert Ore-Sorter and a 60-ton-per-day flotation mill in Payette, Idaho.