In This Article:
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") reports that the installation of three groundwater test wells has been completed at its Bayhorse Silver Mine, Oregon, USA as the final part of its baseline studies required for the Company's full Mine Operating Permit.
The three test wells, two of +/- 150 foot depth, and one of 750 foot depth, all intersected ground water at a depth of +/- 2080 feet above sea-level, which is the elevation of Idaho Power's Brownlee Hydro Reservoir that the Bayhorse Silver Mine is situated beside.
The deepest test well, at +750 feet, lies 600 feet west of the Bayhorse underground mine workings and within the area of the recent VTEM survey low resistivity signature. This test well was collared at an elevation of 2,886 feet, and was reported to have passed through the known geological lithologies of the Weatherby (schist) and the Huntington (andesite) formations and the silver bearing Rhyolite zone of the Bayhorse Silver Mine. This deep test well confirms the silver bearing rhyolite is present at depth a minimum 600 feet west from the current underground workings.
The test wells were installed under the direction and supervision of HDR Engineering, of Boise, Idaho, through a ground water test plan approved by Oregon's Department of Geological and Mineral Industries ("Dogami").
Figure 1, Groundwater test well drill rig in operation at the Bayhorse Mine with the Pegasus Property in the background
To view an enhanced version of this graphic, please visit:
https:/https://finance.yahoo.com/images.newsfilecorp.com/files/5015/216986_93f6450a8480cad6_001full.jpg
Deep drilling from the underground workings at the Bayhorse Mine is planned to test the extent of the mineralization in this rhyolite area.
Bayhorse CEO, Graeme O'Neill, comments "with completion of the groundwater test wells, the last of the baseline studies work has been completed, and we anticipate completing the final full Mine Operating Permit application as soon as possible. Having confirmation of the projected extent of the silver bearing rhyolite is a pleasant bonus from the test well drilling, and we are looking forward to commence the planned underground drill program to extend the known silver mineralized horizon westwards."
The Company announces that, subject to the approval of the TSX-V Exchange, the Company has extended the expiry date of the following warrants (all other terms remain unchanged):