Bayhorse Silver Inc (CVE:BHS) Company Profile
Symbol(s): CVE:BHS, OTCMKTS:KXPLF
Industry: Silver Mining
Bayhorse Silver Inc (CVE:BHS) is a Canadian junior silver mining company mainly focused on exploration and resource expansion of Silver in USA and Canada. The company has multiple properties including Bayhorse (Oregon, USA), Brandywine (British Columbia, Canada), Lyell (Reefton, New Zealand), Paparoa (Reefton, New Zealand), and Flagstaff (Washington, USA).
Bayhorse Silver Inc has been mining silver at their 100% controlled Bayhorse Silver Mine, OR, USA, from an inferred NI-43-101 resource of 292,300 short tons at an average grade of 21.65 troy ounces per ton silver (Ag) for total contained silver of 6,328,400 ounces. The mineralized material contains significant amounts of copper (Cu) and zinc (Zn).
They concentrate the mined material on-site using their state-of-the-art Steinert XRT Ore-Sorter, then with their milling/gravity/flotation circuit into a targeted 15,000 – 20,000 gram/ton (480 to 640 oz/ton) concentrate, before shipping the final silver/copper concentrate to Mineral Solutions LLC, Coeur d Alene, Idaho, for final processing and refining into .9999 silver.
Doing this, Bayhorse Silver eliminates the need for shipping concentrate overseas and saves the substantial time and costs of using overseas smelters.
Bayhorse Silver Inc has 125.42 million shares outstanding and has a market capitalization of US$11.92 million.
- Producing the first bar containing 37.69 ounces (1.172 kg) of .9999 fine silver. The silver was extracted from a portion of the 175 kg (386 lb.) sample sent to Minerals Solutions LLC of Coeur D’Alene, Idaho, USA.
- Completing the sale of 1,740 ounces of .9999 refined silver from the current testing/refining program.
- Completing non-brokered private placement financings and raising gross proceeds of $1.4 million in 2019.
- Engaging Consulting Metallurgist, John Fox, to oversee the ongoing metallurgical work at both the high-grade Bayhorse Silver Mine, Oregon, USA, and at the precious metals rich, Brandywine Volcanogenic Massive Sulphide Project (VMS), British Columbia, Canada.
- Expanding the Brandywine precious metals-rich VMS project near Squamish BC, to 1,500 hectares from 400 hectares.
- Receiving gold metallic screen assays from the re-assayed core samples from the 2010 Brandywine drilling program. A suite of eleven samples from best-mineralized intersections confirmed the presence of significant coarse gold, the highest grade being 20.2 g/t over 1.5 m. (BHS2019-33)
Upcoming 2020 Milestones
- Q1 2020: Drill known high-grade gold/silver targets at Dave’s Pond
- Q1 2020: Conduct VTEM survey on Brandywine to tie in all historic data
- Q2 2020: Increase the Bayhorse daily production capacity from 100 to 200 tons; and ounces from 640,000 to 1,300,000 per year
- Q2 2020: Upon cash flow from Bayhorse Mine, commence exploration of the Brandywine high grade gold/silver VMS property
- Q3 2020: Expand the Bayhorse resource by drilling program to potentially double the size
The stocks of Bayhorse Silver Inc trade on the Toronto TSX Ventures Stock Exchange and the Over-the-Counter Exchange.