Bayhorse Silver Announces Bonanza Grade Silver Assays Jan

Bayhorse Silver Announces Bonanza Grade Silver Assays

Bayhorse Silver Inc. (“Bayhorse” or the “Company”) BHS: TSX-V, KXPLF: OTCBB reports on assay results received from the Company’s recently acquired Bayhorse Mine Silver property in eastern Oregon.

Of the 21 selected hand samples taken, 11 assayed >100 g/t silver with some containing bonanza grades of more than 10,000 g/t silver. The highest silver grades are in samples GRBH-20, 150.4 kg/tonne (150,370 g/tonne or 4,385 oz/tonne) and GRBH-19, 88.2 kg/tonne (88,206 g/tonne or 2,836 oz/tonne). In addition samples GRBH-13 graded 1.19 kg/tonne (1,190 g/tonne or 38.26 oz/tonne), GRBH-09, 1.02 kg/tonne (1,020 g/tonne or 32.79 oz/tonne), GRBH-02 , 0.9 kg/tonne (902 g/tonne or 29.0 oz/tonne) and GRBH-03, 0.88 kg/tonne (888 g/tonne or 28.55 oz/tonne). Assays for the entire 21  samples are tabulated below. Samples were taken by independent geologist Dr. G. E. Ray, P.Geol., during a property visit undertaken in preparation for an NI-43-101 Technical Report that is currently underway.

The two highest grade samples (GRBH-20 and GRBH-19) were taken 4 meters apart from a 4-cm thick massive sulfosalt-sphalerite vein that occupies a faulted rhyolite-andesite contact. This vein outcrops above the Upper Adit entrance that accesses the historic underground workings. The two samples weighed approximately 1.5 kg each. The samples were submitted under chain of custody to the certified ALS Chemex laboratory in Elko Nevada for analysis.

(“grab samples are selective by nature and are unlikely to represent average grades of the deposits”)

The assay results confirm historic reports that bonanza grade silver exists on the Bayhorse Property.

Some samples were submitted to petrologist Dr. Craig Leitch, P.Eng., for thin and polished section studies. He reports that the 4-cm thick vein discovered at surface with bonanza silver grades contains sphalerite, with three distinct sulfosalt minerals (tennantite and two unidentified phases, possibly Ag-sulfosalts) as well as possible acanthite. In addition there was  minor galena and chalcopyrite.

Based upon the significant results reported above, along with the following historic information, the Company has decided to initiate metallurgical assessment of an approximately 250 kg bulk sample of mineralized material from an onsite, apparent low-grade ore dump, to be submitted to Met-Solve laboratories in Abbotsford, BC. By doing so, the Company hopes to confirm the reported historic flotation recoveries in excess of 80% silver and to determine the best method to achieve a saleable concentrate in the event that the historic information  reported below can be substantiated.

Historic Information:

The Company advises that the following information is of a historic nature. Historic production estimates, drill information and grades reported have not been verified; A qualified person has not done sufficient work to verify the historical estimates nor classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimates as current mineral resources or mineral reserves. (ounces/grams conversion is one ounce/short ton = 34.2857 grams/metric ton)

As “stated in the minerals production yearbook” (Jacobsen, 1959), total reported historic production from the Bayhorse Mine through 1959 was 286,000 ounces of silver from 8,300 tons of ore for an average of approximately 34.5 opt Ag (1,183 g/t Ag) while Herdrick (1981) estimated remaining shipping ore at a 7.5 opt Ag cutoff to be 166,208 tons, and on-site mill ore at a 3 opt  Ag cutoff to be 473,350 tons.

According to other more recent reports in 1984, 90 underground drill holes totaling  15,000 feet reportedly delineated  26,000 tons of silver bearing mineralization of which 5,718 tons were reported being produced at an average grade of 16.7 opt Ag (572.5 g/t Ag) while approximately 20,000 tons at an average of 15 opt Ag reportedly remained unmined. The historic records also indicate that of the 5,718 tons produced, 23% reportedly graded between 21 – 100 opt Ag, 71% reportedly graded between 6 opt – 20 opt Ag and 6% reportedly graded less than 6 opt Ag. Ancillary copper produced reportedly averaged 1% Cu. The highest reported grade from the 1984 drilling, sampling and mining program was from a mined round, containing a tetrahedrite-tennantite –rich vein, that assayed 691 opt Ag (23,691 g/t) and 15.72% Cu.

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