Business
Silver Bullet Mines Corp. Provides Update on its Wholly Owned Washington Mine Idaho Property
Burlington, Ontario--(Newsfile Corp. - May 23, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI) (OT...
About this update from Silver Bullet Mines Corp
[{"type":"text","content":"Silver Bullet Mines Corp. Provides Update on its Wholly Owned Washington Mine Idaho PropertyBurlington, Ontario--(Newsfile Corp. - May 23, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to provide an update on its wholly owned Washington Mine located in Idaho, approximately 1.5 hours drive from Idaho City. The Washington Mine was a historical gold producer, and its historical silver discoveries were not able to be processed at the time.The Company has recently been able to physically access the property following a severe winter during which the area received more than 150% of its normal snowfall. Company personnel were able to visit the site to assess the condition of the mine and roads leading to the mine. It was determined that road repairs were required to some washed out areas but otherwise the site is in good shape. Permits for road repairs have been received and work is ongoing including the installation of a new culvert and is anticipated to be completed within thirty days.The Company is currently finalizing a budget for property and site work for this year, including the set up of the mining camp, the hook up of the water supply, moving equipment to the site, and building necessary structures to house the equipment. The Company has engaged an experienced underground mine contractor to carry out mining activities at the site. Commencement of mining activities, which is subject to the availability of sufficient financing, is anticipated to commence within 120 days.It is estimated that potential mineralized material is located approximately 100 feet from the portal entrance. The Company plans to mine to that area and then extract an initial 2000 ton bulk sample. Historical values from multiple bulk samples averaged 44 ounces per ton silver and .05 ounces per ton gold (see press releases of January 18, 2022, and of February 14, 2022). The Company is negotiating with a local mill to process the material.The Company has received the final report from the Centre for Advanced Materials Processing (\"CAMP\") of Montana Technical University for the metallurgical testwork carried out on behalf of SBMI on samples from the Washington Mine. The data will be used as a basis for the Company's mineral processing flowsheet. The work performed by CAMP using gravity and flotation combined...