Business
Bayhorse Silver Year End Review and AGM Results
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2017) - Bayhorse Silver Inc. (TSXV...
About this update from Bayhorse Silver Inc.
[{"type":"text","content":"Bayhorse Silver Year End Review and AGM ResultsVancouver, British Columbia--(Newsfile Corp. - December 13, 2017) - Bayhorse Silver Inc. (TSXV: BHS) (\"Bayhorse\" or the \"Company\") Annual General Meeting December 8, 2017 results are as follows: Directors Graeme O'Neill, Dr Clay Conway, P.Geol, John Cerenzia and Corey Klassen re-elected by 99.95% of the shares voted. Charlton and Co auditors re-appointed by 100% of the shares votedthe Company's Rolling Stock Option Plan re-approved by 99.78% of the shares voted.Bayhorse CEO, Graeme O'Neill, commented on operations this past year: \"With recent commissioning of the Ore-Sorter, the Bayhorse Mine is now fully operational. Through January 2018, we will upgrade 1300 tons of stockpiled mineralized material through the Ore-Sorter. Before year end a portion of the upgraded material will be shipped to Mineral Solutions of Coeur D'Alene, Idaho, with the balance by the end of January 2018.\"Expenditures to date total $3,580,000 from Mine acquisition in early 2014 to the current production stage. At the time of acquisition projected mining costs were US$79/ton, and total mining and processing costs were projected at US$127/ton. The Company has established an actual mining cost of US$50/ton from the development to date of over 550 feet of underground workings. Both actual processing costs and recovered grades will be established during operation of the Ore-Sorter upgrading the 1300 ton stockpile.All mining projections are based solely on the Herdrick (1981) Report which estimated remaining shipping material to be 166,000 tons at 17 - 20 opt Ag at a 7.5 opt (233 g/t) Ag cutoff for gross contained ounces of between 2,825,000 and 3,324,000 Ag. He further estimated on-site milling material to be 473,000 tons at a 3 opt (93 g/t) Ag cutoff. Testing by Bayhorse with the Ore-Sorter at the Steinert facility in Kentucky has allowed the Company to establish a lower potential cut-off grade of 2.5 opt (77.8 g/t) Ag (News Release BHS 2017-14, August 10, 2017).News release BHS2017-24 reported that mineralization intersected 50 feet below the Sunshine and Junction Zones, 160 and 340 feet respectively from the Mine portal, increased the vertical extent of mineralization to 70 feet from 20 feet in thickness. Dr. Bill Willoughby, the Company's Mining Engineer, tested the recently uncovered mineralized zon...