|By Marketwired .||
|May 12, 2014 03:00 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/12/14 -- Bayhorse Silver Inc. ("Bayhorse" or the "Company") (TSX VENTURE: BHS) reports on its corporate activities and mining and exploration plans for the balance of 2014.
Bayhorse Silver Mine Progress:
The Bayhorse silver mine, which was last mined in 1984 when silver prices dropped below US$5 an ounce, has a reported historic non-43-101-compliant resource of 160,000 + tons containing high grade silver ore in stockwork zones up to 80 feet wide. (news release BHS2014-01) The Company's plans are to extract an up to 5,000 cubic yard bulk sample (approximately 15,000 tons) from this high grade silver zone from its Bayhorse silver mine that is expected to commence as early as late in the 2nd quarter of 2014. Based upon the average 1984 historic mining grades of 572 g/t Ag (16.7 oz/t Ag), the bulk sample has the potential to contain as much as 250,800 oz/Ag.
American Mining and Tunneling of Elko Nevada is currently engaged in rehabilitating the adit and work is expected to be completed towards the end of May. Underground sampling and drilling will then immediately commence to confirm the historic underground assays and to determine what will be required to bring the historic non-43-101-compliant resource up to a current 43-101 compliant resource.
The mineralized zone is open along strike to the west and to depth. The Company has also identified potential mineralization along strike to the east and has added another six claims to the property to cover this area.
The flotation test results announced in our recent news release, (BHS2013-13), indicate the proposed bulk sample may also contain significant amounts of copper (Cu), zinc (Zn), and antimony (Sb). While spot silver prices have held in the US$19-$21 range recently, a number of analysts are expecting the silver price to move higher towards the end of 2014. Current market prices for the other metals are as follows. Antimony is currently around US$4.50/lb, copper is approximately $3.00/lb and zinc is approximately US$0.90/lb. The Company will need to access the equity market to complete the ongoing work program and the bulk sample. In the event the bulk sample silver content is as anticipated, the Company may realize a substantial return from any sale of any ore produced by the end of the year and any need to further access the equity markets afterwards for ongoing capital requirements may be substantially reduced.
Subject to the success of the first proposed bulk sample, an additional bulk sample of the same size is anticipated to be completed by early 2015.
Historic Bayhorse Information
As "stated in the minerals production yearbook" (Jacobsen, 1959), total reported historic production from the Bayhorse Mine through 1959 was 286,000 ounces of silver from 8,300 tons of ore for an average of approximately 34.5 opt Ag (1,183 g/t Ag) while Herdrick (1981) estimated remaining shipping ore at a 7.5 opt Ag cutoff to be 166,208 tons, and on-site mill ore at a 3 opt Ag cutoff to be 473,350 tons. The highest reported grade from the 1984 drilling, sampling and mining program was from a mined round, containing a tetrahedrite-tennantite -rich vein, that assayed 691 opt Ag (23,691 g/t) and 15.72% Cu, while the recent sampling as reported in the Company's news release BHS2014-01, identified silver content from a select sample of 150kg Ag (4,835 ounces) per ton.
The Marijuana Industry Review Initiative
After a comprehensive review by the Company and its consultants of the potential opportunities presented by the legalization of medical marijuana in Canada, and presented by the new legislation in certain States in the U.S., the Company directors have decided to discontinue any further research into this arena, and the consultancy agreements entered into will terminate as per the terms of the agreements.
Chief Financial Officer
The Company announces that Ms Anike Li, CPA, CGA, BBA, has accepted the appointment as the Company's Chief Financial Officer. Ms. Li succeeds Mr. G Gallo, who has been with the Company for over two years in the CFO role. The Company thanks Mr. Gallo for his services and wishes him well in his new ventures.
Barite Mine Net Profit Interest.
The Company holds a 30% Net Profit Interest (NPI) in the Flagstaff barite mine, which it recently sold to SBS Mining Ltd of London.
SBS Mining is currently working on their processing facility to upgrade the barite from the Flagstaff mine to create a saleable finished product. 4.1 SG Barite is now US$115/ton fob the mine, as per the most recent US Geological Survey pricing sheet and is now substantially higher than the 2010 price of US$40/ton when the mine was permitted. Upon recovery of SBS sunk costs, the Company anticipates that income will be derived from this NPI in the near future.
New Zealand Gold Projects
The Company has initiated a NI-43-101 report on the Red Queen project north of the town of Westport, on the West Coast of the South Island of New Zealand. During the property visit to Red Queen, Dr. G. E. Ray, the report author, and the Company's consulting geologist, Campbell Ryland, M.Sc., have identified the Red Queen vein at surface both up dip and along strike from existing known vein occurrences and adits. Historically, the Red Queen mine reportedly produced grades as high as 5.5 opt. The highest grade sampled by the Company was 69.4 g/t (2.23 opt) Au from the underground workings.
Subject to financing, the Company intends to prepare the Alexander River gold project for a proposed 4th quarter diamond drill program to further its understanding of the mineralizing systems and to determine whether a NI-43-101-compliant resource can be established. Alexander River reportedly produced approximately 41,000 ounces of Au from 49,000 tons mined from underground workings.
Bayhorse Silver Inc. is a junior exploration company that is earning an 80% interest in its newly acquired historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. It has a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Red Queen), in the highly prolific West Coast South Island gold fields of New Zealand, where it offers investors the potential for a major gold discovery. The Company has an experienced management and technical team with extensive exploration expertise.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents. The contents of this news release has been reviewed and approved by Dr. Clay Conway, P.Geol., and qualified person as recognized by National Instrument NI-43-101 and a director of the Company.
ON BEHALF OF THE BOARD
Graeme O'Neill, President
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.
Caution Regarding Forward-Looking Statements - All statements herein, other than statements of historical fact, including, without limitation, plans for and intentions with respect to the Company's capitalization, preparation of technical reports, proposed work programs, budgets and proposed expenditures, permitting, construction and production timing are forward looking statements. While the Company believes such statements are reasonable, no assurance can be given that any expectations will prove to be correct and the forward-looking statements are not guarantees of future results or performance and that actual results may differ materially from those in the forward-looking statements. Readers should not place undue reliance upon forward-looking statements and the Company undertakes no obligation to re-issue or update any forward-looking statements as a result of new information or events after the date hereof or as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement.
The Company advises that the Corporate update also contains information that is of a historic nature. Historic production estimates, drill information and grades reported 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. (ounces/grams conversion is one ounce/short ton = 34.2857 grams/metric ton)
Bayhorse Silver Inc.
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, provideed economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session also included a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Dec. 9, 2016 03:45 PM EST Reads: 553
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 03:30 PM EST Reads: 1,222
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 9, 2016 03:15 PM EST Reads: 972
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 03:15 PM EST Reads: 849
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Dec. 9, 2016 03:00 PM EST Reads: 2,004
Infrastructure is widely available, but who’s managing inbound/outbound traffic? Data is created, stored, and managed online – who is protecting it and how? In his session at 19th Cloud Expo, Jaeson Yoo, SVP of Business Development at Penta Security Systems Inc., discussed how to keep any and all infrastructure clean, safe, and efficient by monitoring and filtering all malicious HTTP/HTTPS traffic at the OSI Layer 7. Stop attacks and web intruders before they can enter your network.
Dec. 9, 2016 03:00 PM EST Reads: 343
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 9, 2016 02:45 PM EST Reads: 1,031
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
Dec. 9, 2016 02:45 PM EST Reads: 616
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Dec. 9, 2016 02:42 PM EST Reads: 169
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
Dec. 9, 2016 02:30 PM EST Reads: 786
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
Dec. 9, 2016 02:30 PM EST Reads: 1,257
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Dec. 9, 2016 02:15 PM EST Reads: 358
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Dec. 9, 2016 02:15 PM EST Reads: 1,288
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 9, 2016 02:15 PM EST Reads: 1,773
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 02:15 PM EST Reads: 809