Business
Bayhorse Silver Signs Letter Agreement to Earn a 50% Interest in the Harrison High Grade Gold Project, British Columbia, Canada
Vancouver, British Columbia--(Newsfile Corp. - September 14, 2020) - Bayhorse Silver Inc. (TS...
About this update from Bayhorse Silver Inc.
[{"type":"text","content":"Bayhorse Silver Signs Letter Agreement to Earn a 50% Interest in the Harrison High Grade Gold Project, British Columbia, CanadaVancouver, British Columbia--(Newsfile Corp. - September 14, 2020) - Bayhorse Silver Inc. (TSXV: BHS) (the \"Company\" or \"Bayhorse\") has entered into an Option Agreement with Bear Mountain Gold Mines Ltd, (BMGM) a British Columbia (BC) private corporation, to earn a 50% interest in its Harrison Gold Project, Harrison, British Columbia, Canada.The Harrison Gold Property (the \"Property\") is an advanced stage gold exploration project focused on a seven kilometer long ridge called Bear Mountain located on the southeast side of Harrison Lake, 130 kilometers east of Vancouver. BMGM has an option to acquire a 100% interest in the Property from TSX.V listed Omineca Mining and Metals Ltd. (\"Omineca\"). Harrison Gold Project HighlightsHistoric gold resources of 220,300 ounces contained in 2,458,674 tons was reported by Norman (1989) for two of the known intrusions (referred to as the Jenner and Portal Zones) with an average grade of 2.79 g/t gold, at a 2 g/t cutoff grade.The RN Mine was intermittently mined from 1972 until 1982. Historic smelter reports indicate that a total of 642.82 tonnes (708.58 tons) of ore was shipped from the RN Zone. This material contained 30,443 grams of gold (978.89 ounces), and 616 kilograms of copper. The average recovered grade is 47.4 grams of gold per tonne (1.38 ounces of gold per ton) (Allen, 1983).Ministry of Mines Permits approved for surface drilling and lateral development work at the former RN Mine.Gold mineralization consists of free milling 0.2 to 2.0 mm size gold grains within quartz veins ranging from less than a cm to several tens of cm in width.Significant historic mineralized intercepts reported for the Jenner Zone included: DDH 85-36 with 102 meters averaging 3.54 g/t gold; DDH 86-48 which averaged 5.28 g/t over 24 meters; and DDH 84-28 which averaged 4.12 g/t gold over 63.2 meters. For the Portal Zone, located 150 m east of the RN Mine, historic results included DDH 86-43, that averaged 9.78 g/t over 7 meters, and DDH 88-76 that averaged 21.4 g/t over 7 meters. The Company advises that the above drill intersections, grades and estimates above is of a historic nature. Historic drill intersections, grades and resource estimates reported have not been verifi...