Video: Junior market dominated by ‘the lame, the halt and the blind,’ says Rule
Over two-thirds of today’s junior miners are essentially worthless, says resource speculator Rick Rule.
Bayhorse Silver (TSXV: BHS; US-OTC: KXPLF) has tabled 23 new silver channel samples from its Bayhorse silver mine in Oregon. The company is trying to find the mine’s higher grade zones; it will then designate the barren zones as support pillars in its mine design.
The company sampled from two new raises and stopes built 15 metres apart. It took samples measuring 1 metre by 0.2 metre on 0.9 metre centers from the western end of the main haulage way, where it’s also taking bulk samples.
Highlights included 902 grams silver per tonne, 715.37 grams silver and 544.3 grams silver. Its lowest sample returned 3.72 grams silver. More than half of the 23 samples graded higher than 50 grams silver.
Bayhorse intends to take its mine into production without completing a feasibility study or calculating reserves. In October 2018, the company tabled a National Instrument 43-101 report on Bayhorse that estimated the project contains 256, 170 inferred tonnes grading 676.56 grams silver for 6.9 million oz. silver.
The company based its resource in part on 90 historic underground drill holes totaling more than 4,500 metres from 1984.
Shares of Bayhorse are currently trading at 10¢ with a 52-week range of 9¢ to 26¢. The company has an $8 million market capitalization.
This article first appeared in The Northern Miner.
