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The Silver / Copper Play That’s on Right on Target

Dave Jackson Dave Jackson, Stockhouse
4 Comments| March 31, 2022

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Stockhouse metals & mining investors with a keen eye focussed on companies with resource diversification, a mining-friendly jurisdiction, along with strong management and technical teams certainly know a good thing when they see it. They also know that when you add in exploration, development, and production / processing capabilities and you’ve got a potential ‘bonanza-style play.’

Enter Canadian-based Silver Bullet Mines Corp. (TSXV.SBMI, Forum) – a fully, vertically-integrated silver and copper company with potential high-grade projects located in the western U.S. Its flagship project is the Black Diamond Property containing the Buckeye and McMorris Silver Mines – boasting a land package of almost 5,000 acres in the Miami-Globe copper camp and centered on Arizona’s historic and prolific Richmond Basin. The Basin is located adjacent to the original site of the 1870’s native silver discoveries that brought mining prospectors to the now-significant Globe Copper Camp and, at present, is the home to seven major projects operated by mining giants such as Rio Tinto PLC (NYSE: RTNTF), BHP Group Ltd. (NYSE: BHPLF), and Freeport-McMoRan Inc. (NYSE: FCX). In short, an Arizona sandbox worth playing in.

North from Arizona, up in Idaho, the ‘Gem State’ is also renowned for its silver production and currently accounts for roughly 45% of the U.S. production. It is here that Silver Bullet is putting its 100% owned Washington Mine into production. The mine consists of over 48 hectares of private property as mining patents, with the ability to increase the land package significantly through additional agreements for U.S. Bureau of Land Management (BLM) mining claims (see ‘In the News’ below).

In the News

On March 15th, Silver Bullet announced it has made a production decision for its Washington Mine on patented land in Idaho. The historical records and existing infrastructure suggest SBMI should be able to in the short-term extract a bulk sample of 1,500 to 3,000 tonnes of mineralized material from a blocked-out volume. After a brief pause to assess the results of the bulk sample and to inspect more of the existing infrastructure, the Company would continue extracting material from this part of the mine and also develop a ramp to the high-grade parallel structure identified in last year's field program. (see Market Herald Canada news article December 15, 2021).

On the financial ledger and in a recent news release, the company closed its second tranche of financing, bringing the total raised in this round to $1.57 million. Silver Bullet said the tranche represented over 2.2 million units, with each unit priced at $0.40 and consists of one common share and one full $0.60 warrant with a 24-month term. The second tranche comes following the closing of the first tranche in February, with a third tranche expected to close before March 26th. The company said the proceeds will be used to put the Buckeye Silver Mine into pilot production in March, while advancing work at the Washington Mine.

A. John Carter, CEO of Silver Bullet Mines and an industry veteran with a deep history of building processing facilities around the world, commented:

"This financing is a success for the company and the shareholders. Our original minimum target was $500,000 and the investors blew that number away. The funds raised in this financing have been budgeted to be more than enough to put the Buckeye Mine into production, to complete our mill, and to advance the Washington Mine to where it can be ready for mineral extraction."

Following the company closing its second tranche, Silver Bullet announced it is, to its knowledge, the first mining company with a presence in the Metaverse with the idea of expanding its presence and targeting new demographics.

The company said it hopes its unique presence in the Metaverse will allow users to learn about it while also enjoying a rich and immersive experience.

Mr. Carter continued:

“We are always looking for ways to enrich our communications with the shareholders. Being first in the metaverse allows us to engage differently with a larger demographic."

In closing, the CEO remarked:

"These are very exciting times for Silver Bullet Mines as we rapidly approach commencement of mining operations at the Buckeye Mine in Arizona and move simultaneously to mining in Idaho," "Revenue generated from both mines can fund exploration programs to attack the past-producing McMorris Mine, increase production capacity at our 100%-owned modular mill, and explore the potential for a copper porphyry at our Black Diamond Property."

Investors Corner

As it ramps up its mining operation in both Arizona and Idaho, Silver Bullet continues to increase shareholder value aided by its strong growth metrics. As the chart below clearly indicates, SBMI’s stock price has skyrocketed by over 50% since mid-December.

(3 month TSXV:SBMI stock chart Dec 2021 – Mar 2022. Click image to link to chart)

The Bottom Line

With a third financing tranche expected to close soon, Silver Bullet Mines is now firmly placed to see its ambitious plans through over the course of 2022. In line with this, and with its expansion into the Metaverse, it’s evident that SBMI has the capabilities to target new demographics while remaining true to its core values of developing mineral assets productively and profitably.

(Click image to play video)

For more information, visit

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.


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