Bayhorse undertakes met bulk sample of Bayhorse

Executive Summary

• Bayhorse Silver Inc. is undertaking a 25-ton approved run-of-mine metallurgical bulk sample from its Bayhorse silver mine to test the recovery of critical and strategic minerals (silver, copper, antimony, and zinc).
• The sample will be processed through a Steinert KSS100 XRT ore-sorter and sent to the company's permitted flotation mill in Payette, Idaho, to determine ore-sorter upgrade, mill recoveries, and waste water remediation requirements.
• Results from this bulk sample are intended to mimic potential mining operations, providing data on final grades and recoveries to support the resumption of full-scale mining and permit applications.

Key Details

• Sample Scope: A 25-ton representative run-of-mine metallurgical sample is being taken from three established working faces within the western extent of the underground workings.
• Vertical Extent: Up to 38 metres (125 feet).
• Width: 15.25 metres (50 feet).
• Strike Length: 50 metres (165 feet).
• Sampling Locations:
  • Big Dog Zone: One sample from the newly established working face.
  • Goldilocks Zone: Two samples taken from the middle and top of a 30.5-metre (100-foot) raise.
    • Historical context: Silver King Mines mined high-grade rounds in 1984 grading up to 3,110 g/t Ag (100 oz/t).
    • Recent drill intersection: 3.65 metres (12 feet) of 844 g/t Ag, including a high-grade interval of 0.6 metres (2 feet) of 2,180 g/t Ag.
• Processing Methodology:
  • Sample crushed to minus 25 millimetres (one inch).
  • Shipped to the fully permitted flotation mill in Payette, Idaho.
  • Ore-sorted using Steinert KSS100 XRT ore-sorter.
  • Separated into three portions: ore-sorter select, ore-sorter reject, and under eight-millimetre fines.
• Assay Objectives:
  • Ore-sorter selects: Assayed to determine upgrade for silver and other critical/strategic minerals for milling and flotation concentrate production.
  • Ore-sorter reject: Assayed to determine suitability for mine backfill for permitting purposes.
  • Prescreened fines: Assayed to determine if they can be milled/floated or rejected due to insufficient metal content.
• Standards: Bulk sample assay analysis conducted under National Instrument 43-101 standards.
• Permitting & Environmental: Analysis will establish mill recoveries, tailings percentages, and waste water remediation needs for the operating permit.
• Mineralization Details:
  • Dominant mineralization is tetrahedrite (antimony sulphide of silver, copper, zinc, and iron).
  • Mineralization is refractory in nature, requiring leaching for cost-effective separation of antimony and sulphur to increase recoveries of silver, copper, and zinc.
  • All minerals (silver, antimony, copper, zinc) are recognized as critical and strategic in the US.
• Future Processing Plan:
  • Upon permitting, run-of-mine material will be crushed to minus 25mm.
  • Steinert ore-sorter will reject roughly 80% of material as waste.
  • Sorted material trucked to Payette mill, crushed to minus 0.12 inch (3mm), ball milled, and floated.
  • Concentrate bagged for further processing/smelting/leaching.
• Current Status:
  • Four XRF field analyses on 6.5kg float concentrate samples from previous development material showed efficient mill operation.
  • Antimony leaching tests are currently underway; positive results would free all critical metals for processing or sale.
  • Company exploring potential for producing its own silver bars at the mill using new refining technologies.

Notable Quotes

• Graeme O'Neill, CEO: "While the original sampling, ore-sorting and milling/flotation was conducted on mine development material, this bulk sample will mimic potential mining operations and give a clear indication of the ore-sorter select silver upgrade and what the final grades and recoveries likely will be when full-scale mining is resumed. We were very pleasantly surprised with the very high percentages of copper, antimony and zinc recovery in the concentrate along with the silver from the development material processing. With this 25-ton bulk sample, plus the sorted mine development material ready to mill and float at the Payette mill, we look forward to determining the tonnage and grade of the resulting float concentrate."
• Graeme O'Neill, CEO: "In the event that the antimony leaching test results currently under way are positive, all the critical metals will be freed for further processing or sale. With the new refining technologies available, we are exploring the potential for producing our own silver bars at the mill."