Its not from the walk on the property...its from historical data they just recieved...read the first line of the release.
Bayhorse extends Red Queen vein to 2.25 km
2014-06-23 11:45 ET - News Release
Mr. Graeme O'Neill reports
BAYHORSE SILVER INCREASES STRIKE LENGTH TO 2.2 KM AT ITS RED QUEEN, NEW ZEALAND GOLD PROJECT
After a review of newly acquired historical data and a recent property visit to Bayhorse Silver Inc.'s Red Queen gold project on the west coast of New Zealand's South Island, the company has increased the strike length of the Red Queen vein to approximately 2.25 kilometres.
The Red Queen subvertical mesothermal quartz vein contains visible gold, pyrite, arsenopyrite and chalcopyrite, yielding historical grades of up to 171 grams per tonne gold (Au) (5.49 ounces per ton Au). Two samples taken from the Red Queen vein in 2010 and 2011 assayed 69.4 g/t Au and 28.9 g/t Au, respectively. Thirty metres east of the Red Queen lies the Swastika vein, which historically is generally of lower grade. The highest reported grade from the historical Halcyon, Guiding Star, Morning Star and Swanston mines along what is now considered the northerly extension of the Red Queen vein was 25 ounces 18 dwt per ton Au (882 g/t Au) from the Guiding Star mine, which also contained numerous quartz specimens impregnated with visible gold.
The parallel Red Queen and Swastika gold-bearing veins are thought to be Blackwater type, characterized by (i) structural simplicity, (ii) confinement of gold to the vein, (iii) lacking extensive alteration halos of sulphides and graphite, and (iv) planar nature and continuity to great depth.
The Blackwater mine of OceanaGold Corp. is located in the Reefton goldfield in New Zealand's South Island goldfields. The Reefton goldfield has produced in excess of two million ounces of lode gold from a number of mines, with majority of production coming from Oceana's Globe Progress, Big River and Blackwater gold mines, and Bayhorse's Alexander River gold mine.
Deep drilling at Blackwater has identified an inferred resource of 900,000 tonnes at 23 g/t Au for 700,000 ounces of gold (OceanaGold Fact Book 2014). The Blackwater mine produced approximately 730,000 ounces of Au down to 2,900 feet until 1951, when a shaft collapse closed the mine. The fact book further states that a technical study investigating reopening the Blackwater mine is under way.
The historical Blackwater mine lies approximately eight kilometres to the northwest of Bayhorse's historical Alexander River gold project, where a reported 41,000 ounces of gold were recovered from 47,000 tons mined. Bayhorse believes the Alexander River gold project has the potential to host a major gold deposit.
The company advises that historical production estimates, and grades reported from its Red Queen and Alexander River projects 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 (ounce/gram conversion: one ounce/short ton equals 34.2857 grams/metric tonne; pennyweight (dwt) equals 1.56 grams).
The company announces the grant of incentive stock options for 175,000 shares to officers, directors and consultants. The incentive stock options are exercisable for five years at a price of 10 cents per common share.
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