Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") announces the arrival of the underground diamond drill rig at the Bayhorse Silver Mine to drill the large low-resistivity anomaly that lies beneath the Company's silver/copper rich Bayhorse Silver Mine in Oregon, USA. The drilling operations will commence shortly.
Bayhorse plans to drill from 241 ft (73 m) inside from the Mine portal, at an elevation that is 703 m (2320 ft) above sea level, to the underground workings into the large low-resistivity anomaly that lies beneath the silver/copper rich bearing rhyolite at Bayhorse Silver Mine. Revised calculations indicate the anomaly has a vertical extent of 500 m (1650 ft) from 600 m (1980 ft) above sea level to 100 m (330 ft) above sea level and a width of up to 100 m (330 ft).
The Company anticipates intersecting the top of the anomaly 150 m (495 ft) down hole with a projected termination depth of 257 m (850 ft) at the east side of the anomaly, to test for the presence of a porphyry copper deposit.
Historic geological maps show the presence of a quartz porphyry around the Bayhorse Silver Mine workings.
In the sections image below, line 1040 lies directly beneath the diamond drill location, while line 1050 is 100m (330 ft) east of and just outside the underground workings.
Figure 1. Resistivity data from survey by Geotech Ltd's proprietary VTEM system. Sections show the position of the planned drill hole intersection in the upper portion of the anomaly beneath the Bayhorse Silver Mine.
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Figure 2. Resistivity data from survey by Geotech Ltd's proprietary VTEM system. Plan view shows pronounced low-resistivity anomaly (survey lines 1040-1050) in relation to the Bayhorse Mine underground workings.
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Figure 3. Surface representation of the underground drill holes
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The Bayhorse exploration model holds that the silver/copper rich mineralized rhyolite at the Bayhorse Silver Mine could have its source in underlying shallow granites that may be conductive porphyry copper bodies as reflected by the low-resistivity anomalies (Conway, 2024). The highest silver/copper grade identified at the Bayhorse Silver Mine is 15% Silver, 17% Copper (BHS2014-01) while gold values up to 10 g/t have been reported from historical mining (Silver King Mines 1984).
This exploration model is based largely on Hercules Metals' recently discovered porphyry copper deposit underlying historic silver mines in the Cuddy Mountains district some 44 kilometers northeast of Bayhorse/Pegasus. There the porphyry copper has a low-resistivity signature thus, it may be inferred that porphyry copper deposits could be present at Bayhorse/Pegasus and also at the Mineral district 20 km (12miles) to the north of the Bayhorse. (BHS2024-18).
Bayhorse CEO, Graeme O'Neill, comments "the low-resistivity/high-conductivity anomaly that we are targeting starts 150 m (495 feet) below the portal to the Bayhorse underground workings, has a calculated depth to its bottom of between 400 and 500 meters (1312 - 1640 feet) and extends over one mile (1.6km) to the north. Drill setup underground is underway, with drilling commencement targeted on completion of setup. Each of the first two holes have a targeted depth of 260 meters (850 feet).
The Company announces that, subject to the approval of the TSX Venture Exchange, the Company has extended the expiry date of the following warrants (all other terms remain unchanged):
a) Original expiry date of 1,500,000 warrants: November 28, 2024.
b) New expiry date of 1,500,000 warrants: November 28, 2025.
Exercise price of warrants: 5 cents.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Mark Abrams, AIPG,, a Qualified Person has prepared, supervised the preparation of, or approved the technical content of this press release.
About Bayhorse Silver Inc.
Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA and the Pegasus Project, in Washington County, Idaho. The Bayhorse Silver Mine and the Pegasus Project are 44 km southwest of Hercules Metals' porphyry copper discovery. The Bayhorse Mine includes a state of the art Steinert Ore-Sorting technology reducing waste rock entering the processing stream by up to 85%. The Company has created a minimum environmental impact facility capable of mining 200 tons of mineralization per day and the ability to process and supply 3,600 tons per year of silver/copper concentrate ranging between 7,500 to 15,000 g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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