Vancouver, British Columbia--(Newsfile Corp. - August 31, 2016) - Bayhorse Silver (TSXV: BHS) has mobilized a drill rig at the Bridging the Gap Silver Project at Smelterville, in Idaho's prolific "Silver Valley". The drill target is a pair of parallel silver/lead/zinc structures, the historic Crown Point/Silver King Mines structure, and approximately 300 feet to the south, the parallel Shea structure.
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Although the Crown Point/Silver King zone was mined only to the 200 foot level, a steeply inclined shaft extended the structure to 800 feet.
U.S. Bureau of Mines records show that Crown Point Mines, which along with Silver King Mines, closed in 1940, reported in-situ grades of up to 80 ounces per ton silver and 65% lead, from which 3,000 tons of ore was shipped, from vein systems. Total production was reportedly 116,000 tons averaging 12 ounces per ton silver and 11.3% lead.
The Shea vein system was extensively mined at the adjacent Bunker Hill Mine with records reporting a 30 foot ore intersection made in 1936 by an underground drill hole from the 200 foot level at the Silver King workings into the parallel hanging wall Shea zone. This was never followed up.
Initial diamond drilling, due for completion by the end of September, will penetrate the structures from the south through both the Shea zone and the Crown Point/Silver King zone. The two parallel mineralized zones extend east-west for approximately 1,400 feet in length and project over 1,000 feet in vertical extent.
Management believes the zones could extend much deeper below the 1,000 foot level, based on the adjacent and highly prolific Bunker Hill Mine to the east, which was mined down to 5,800 feet. To the west, the Page Mine was mined down to the 3,500 foot level. Hecla's nearby Lucky Friday Mine is currently being extended to the 10,000 foot level.
Graeme O'Neill, President & CEO, stated: "Despite being sandwiched between two past producing mines, due to claim boundary issues between Bunker Hill Mining and ASARCO, and the subsequent transfer of the property to the EPA, the Bridging the Gap mines have remained unavailable for exploration and development for the past 76 years. Now that the property has been acquired from the EPA by private interests, free and clear of all environmental obligations, we are very pleased to be heading its exploration and redevelopment."
Earlier this year, Graeme O'Neill was interviewed by noted silver expert David Morgan, publisher of The Morgan Report. To view the video interview (click here) visit www.investmentpitch.com and enter Bayhorse in the search box.
The shares are trading at $0.22 and with 32.7 million shares outstanding, the company is capitalized at $7.2 million.
For more information, please visit the company's website www.bayhorsesilver.com, contact Graeme O'Neill, President and CEO, at 604-684-3394 or email company@bayhorsesilver.com.
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