Silver Bullet Mines Corp. Reports Silver Assay Values Averaging 33.9 ounces per ton on its Washington Mine in Idaho
SBMI mines high-grade silver in Idaho as warrant proceeds provide a temporary cash bridge
The news release dated February 18, 2026, provides a two-fold update. First, the company reported assay results from its autumn 2025 exploration program at the Washington Mine in Idaho. Thirteen surface samples from a quartz vein averaged 33.9 oz/ton silver. Rehabilitation of the Subrosa adit is complete, and core drilling has been performed underground with results pending. Second, the company announced the receipt of $490,066 CAD from the exercise of warrants (at prices of $0.16, $0.17, and $0.18). CEO John Carter expressed optimism regarding the potential for high-grade precious metals and signaled plans for a spring 2026 drilling program.
The impact is Routine - Positive. While the silver grades from surface sampling are high (33.9 oz/ton), surface samples are often selective and may not reflect the broader resource. The most material portion of this release for a risk-averse investor is the cash inflow of nearly $500,000 from warrant exercises. - Exploration Progress: The results are in line with historical "Stoker Report" expectations for the Washington Mine but do not yet constitute a NI 43-101 compliant resource. - Financial Liquidity: The $490k inflow is critical given the company’s history of working capital deficits. However, it is a one-time injection that does not resolve the long-term need for sustainable cash flow from the Arizona mill. - Strategic Context: This news follows the February 5th acquisition of the Columbia and Gold Queen mines. SBMI is aggressively expanding its "spoke" assets (mines) to feed its "hub" (the mill), but the actual throughput and profitability of the mill remain the primary valuation drivers.
Silver Bullet Mines Corp. operates a "hub and spoke" mining model. It owns a fully permitted mineral processing mill in Globe, Arizona (the hub). The "spokes" include several past-producing high-grade silver and gold mines, most notably the Buckeye Silver Mine (Arizona) and the Washington Mine (Idaho). The strategy is to process high-grade material from these smaller, owned properties to generate cash flow with lower capital intensity than traditional large-scale mining.