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Bayhorse Reports on Extensive Historic Silver Sampling at Brandywine & Closes Final Tranche of Flow Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2019) - Bayhorse Silver Inc. (TSXV...
About this update from Bayhorse Silver Inc.
[{"type":"text","content":"Bayhorse Reports on Extensive Historic Silver Sampling at Brandywine & Closes Final Tranche of Flow Through Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 27, 2019) - Bayhorse Silver Inc. (TSXV: BHS) (the \"Company\" or \"Bayhorse\") announces that it has closed the final tranche of its previously announced flow through non-brokered private placement at a price of $0.10 per unit for gross proceeds of $230,000 (the \"Flow Through Units\").Each Flow Through Unit consists of one common share and one transferable common share purchase warrant exercisable into one common share of the Company at an exercise price of $0.125 cents for a period of thirty-six months from the date of issuance.On the Brandywine Project, as part of a comprehensive review of the substantial historical data sets, the Company's geologists have reviewed the silver results from Placer Dome's substantial rock sampling during a 1988 - 1989 exploration program.In 1989 Placer Dome carried out surface exploration to test the areas surrounding historical showings of polymetallic sulphide mineralization. Of the total 130 rock samples collected, 16 returned silver contents exceeding 1000 g/t (32 oz/t) with the highest value of 1,800.64 oz per ton silver (sample 50624). Some mineralized samples show gold values ranging from 125 ppb to 6,200 ppb (6.2 g/t)(sample 43464). (Placer Dome, 1990) These encouraging results were never been followed up by more surface work or drill targeting, and remain as intriguing immediate exploration targets. (Chip & grab samples are selected samples and may not be representative of the mineralization hosted on the property.)Exploration within the current mineral tenures dates back to 1923. After initial discovery, several polymetallic mineral occurrences were explored underground between 1937 and 1966 with bulk shipments made to smelters in Montana and Trail, BC. In 1987 Cominco Limited optioned the property to re-evaluate the Silver Tunnel and Tedi Pit showings. Since that time several drilling campaigns carried out by various operators up until 2010, focussed only on the historical showings.Mineralization consists not only of disseminated and banded massive sulphides, but also of vein style polymetallic occurrences consisting of pyrite, sphalerite, galena, chalcopyrite, tetrahedrite, argentite, electrum, bornite a...