VANCOUVER, British Columbia, March 14, 2018 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (TSX:SVB) (OTCQB:SVBL) (“Silver
Bull”) is pleased to provide results of the final three drill holes from the first zone of the underground drill program targeting
the newly discovered Sulphide Zone, which sits under the previously defined oxide zone on the Sierra Mojada Project in Coahuila,
Northern Mexico.
Highlights from the three holes announced in this news release include:
- Hole T17023 – 10 meters @ 347g/t silver, 20.7% zinc, 1.25% copper, and 1.35% lead.
- Hole T17024 – 3 meters @ 303g/t silver, 20.1% zinc, 1.53% copper, and 1.18% lead.
- Hole T17025 – 1 meters @ 127g/t silver, 21.1% zinc, 0.29% copper, and 3.14% lead.
The Sulphide Zone: A continuous underground channel sampling program conducted by Silver Bull during the month
of August 2017 identified a series of east-west trending high angle structure hosting sulphide mineralization (announced in a news
release on 11 September 2017). Results from the continuous channel sampling program yielded 31.5 meters grading at 22.36% zinc,
134.5g/t silver, 2.05% lead, 0.21% copper and 10.5 meters @ 432g/t silver, 1.15% zinc, 0.05% lead, and 1.22% copper and is the
target of the current drill program.
The Drill Program: For the drill program Silver Bull is utilizing a company owned Termite drill
rig which aims to test the grade, thickness, and continuity of the sulphide mineralization identified by the channel sampling
program. The Termite is capable of drilling up to 100 meters of NQ diamond core and five drill stations are presently planned with
more expected to be added as the drill program progresses.
|
Hole ID |
Hole Length (m) |
From (m) |
To (m) |
Intercept length (m) |
Ag (g/t) |
Zn (%) |
Cu (%) |
Pb (%) |
|
T17023 |
20.8 |
0 |
10 |
10 |
347 |
20.7 |
1.25 |
1.35 |
|
T17024 |
21.45 |
0 |
3 |
3 |
303.7 |
20.1 |
1.53 |
1.18 |
|
T17025 |
35.55 |
0 |
1 |
1 |
127 |
21.1 |
0.29 |
3.14 |
Tim Barry, President, CEO and director of Silver Bull states, “We have identified two distinct zones of high
grade sulphide mineralization that are 4 to 5 meters in width and trend in a roughly E-W direction. Our recent drilling has
extended these two zones to over 150 meters each along strike. The zone to the north is dominated by high grade silver, up to
1,300g/t and high grade copper up to 3.3%, whilst the zone to the south has, in addition to high grade silver and copper, high
grade zinc grading over 20%. This is interpreted to represent a zonation of metals in the deposit. In addition to the area recently
drilled we have opened up an additional 350 meters of historical workings along the east-west trend of the sulphide mineralization
which was announced in January 2018. This channel sampling program clearly shows the continuation of high grade mineralization
towards the west. Our underground geological mapping of this area shows a number of high angle structures up to 2 meters wide
containing sulphide mineralization grading up to 1,300 grams per ton silver, 42% zinc, 18% lead, and 13% copper that appear to feed
into the overlying oxide zone. This will be the next target of our drill program in this area”.
A summary of the results are shown in the maps below.
Figure 1: http://www.globenewswire.com/NewsRoom/AttachmentNg/a68f71ab-1399-4afe-9eff-d20271e9462c
Figure 2: http://www.globenewswire.com/NewsRoom/AttachmentNg/5e87ebc4-2342-4f1e-b7eb-a69f4584f3f2
Figure 3: http://www.globenewswire.com/NewsRoom/AttachmentNg/86815921-998a-4f1b-9b64-94175954a8b3
About the Sierra Mojada deposit: Sierra Mojada is an open pittable oxide deposit, as disclosed
in the NI43-101 "Technical Report on the Resources of the Sierra Mojada Project Coahuila, Mexico" dated June 8, 2015, with a
NI43-101 compliant measured and indicated "global" resource of 58.7 million tonnes grading 3.6% zinc and 50g/t silver at a $13.50
NSR cutoff giving 4.670 billion pounds of zinc and 90.8 million ounces of silver. Included within the "global" resource is a
measured and indicated "high grade zinc zone" within the Lerchs-Grossman (LG) Optimized Pit of 10.03 million tonnes with an average
grade of 11% zinc at a 6% cutoff, giving 2.426 billion pounds of zinc, and a measured and indicated "high grade silver zone" of 19
million tonnes with an average grade of 102.5g/t silver at a 50g/t cutoff giving 62.6 million ounces of silver. Mineralization
remains open in the east, west, and northerly directions. Approximately 60% of the current 3.2 kilometer mineralized body is at or
near surface before dipping at around 6 degrees to the east.
Sample Analysis and QA/QC: All samples have been analyzed at ALS Chemex in North Vancouver, BC,
Canada. Samples are first tested with the "ME-ICP41m" procedure which analyzes for 35 elements using a near total aqua regia
digestion. Samples with silver values above 100ppm are re-analyzed using the Ag-GRA21 procedure which is a fire assay with a
gravimetric finish. Samples with zinc, lead, and copper values above 10,000ppm (1%) are re-analyzed using the AA46 procedure which
is a near total aqua regia digestion with an atomic absorption finish.
A rigorous procedure is in place regarding sample collection, chain of custody and data entry. Certified standards and blanks, as
well as duplicate samples are routinely inserted into all sample shipments to ensure integrity of the assay process.
About Silver Bull: Silver Bull is a mineral exploration company whose shares are listed on the Toronto Stock
Exchange and trade on the OTCQB in the United States, and is based out of Vancouver, Canada. 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.
The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist
(CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board of Directors
"Tim Barry"
Tim Barry, CPAusIMM
Chief Executive Officer, President and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@silverbullresources.com
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources:
This press release uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined in,
and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the United States
Securities and Exchange Commission (the "SEC"). The estimation of measured, indicated and inferred resources involves greater
uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are
cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred
resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of
resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable,
or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral
resources may not form the basis of feasibility or other economic studies.
Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, however the SEC normally only
permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without
reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar
information made public by U.S. companies that are not subject NI 43-101.
Cautionary note regarding forward looking statements: This news release contains forward-looking statements
regarding future events and Silver Bull's future results that are subject to the safe harbors created under the U.S. Private
Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the "Securities Act"), and the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and applicable Canadian securities laws. Forward-looking statements include,
among others, statements regarding the planned drill program and the continuation of high grade mineralization to the west. These
statements are based on current expectations, estimates, forecasts, and projections about Silver Bull's exploration projects, the
industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull's management. Words such as "expects,"
"anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations
of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements.
Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control,
including such factors as the results of exploration activities and whether the results continue to support continued exploration
activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of
sufficient future financing, and other matters discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the
fiscal year ended October 31, 2017, as amended, and our other periodic and current reports filed with the SEC and available on
www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking
statements are not guarantees of future performance and that actual results or developments may differ materially from those
expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this release is based only on
information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly
update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new
information, future developments or otherwise.
