Silver Bull Resources, Inc.(TSX:T.SVB, Stock Forum) said more drill results from the 2012 surface drill campaign show high grades of silver on its Sierra Mojada Project in Mexico.
The Sierra Mojada Project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico and is highly prospective for silver and zinc. No NI 43-101 technical report has yet been filed for the project.
According to the press release, high-grade intercepts include 4.55 meters at 308 grams per tonne silver, 6.05 meters at 162 grams per tonne silver, 6.9 meters at 132 grams per tonne silver and 4 meters at 155 grams per tonne silver.
Furthermore, high-grade zinc and lead intercepts include 16 meters at 10.34% zinc, 8.4 meters at 3.63% zinc and 2.24% lead, and 6.3 meters at 2.86% zinc and 5.88% lead.
Overall, Silver Bull’s 2012 surface drill program consists of 83 drill holes totaling 18,000 meters and has focused on the Shallow Silver and Centenario zones.
The Shallow Silver Zone is an oxide silver deposit with a measured resource of 3.023 million tonnes at an average grade of 65 grams per tonne for 6.343 million contained troy ounces of silver.
The Centenario Zone is a zinc deposit underneath the Shallow Silver Zone.
The results have confirmed the continuity and tenor of the extensive silver and zinc mineralization seen at Sierra Mojada, and mineralization remains open in all directions.
Silver Bull’s drill program is ongoing with two underground rigs targeting a high-grade zone of silver mineralization.
Silver Bull is a U.S. registered mineral exploration company based out of Vancouver, Canada.
On Tuesday, Silver Bull was trading for $0.435 a share. The company has a market cap of $59.2 million, based on $136 million shares outstanding. The 52-week high and low was $0.75 and $0.41 respectively.