Silver Bow Mining

Silver Bow Mining Intersects Massive Sulfide Mineralization Grading 8.20% CuEq at the Rainbow Block

Silver Bow Mining Intersects Massive Sulfide Mineralization Grading 8.20% CuEq at the Rainbow Block
NYSE American: SBMT

Overview

Silver Bow Mining Corp. announced that drill hole SBM26-09 intersected chalcocite-bornite-chalcopyrite-bearing massive sulfide mineralization on the Black Rock Copper Vein at the company's Rainbow Block Project in Butte, Montana, according to the company. The company reported that the intersection occurred 0.82 meters (2.7 feet) from 662.15 to 662.97 meters (2,172.4 to 2,175.1 feet) downhole, grading 8.20% copper equivalent ('CuEq'), comprising 6.22% Cu, 207.1 grams per tonne ('g/t') Ag and 0.27% Zn.

According to the company, the SBM26-09 intersection occurs approximately 30 meters (98 feet) below a historical Anaconda Company ('Anaconda') copper-silver block identified as unmined in Anaconda's 1978 district-wide records. The company stated that the assays reported from SBM26-09 represent rush assay results from the massive sulfide interval, and that assays from additional vein systems intersected in the drill hole, including the Rainbow, Boston and Jersey Blue veins, remain pending and will be reported once received and reviewed.

Key Highlights

  • SBM26-09 intersected 0.82 meters (2.7 feet) of copper-bearing massive sulfide mineralization on the Black Rock Copper Vein grading 8.20% CuEq, comprising 6.22% Cu, 207.1 g/t Ag and 0.27% Zn, according to the company.
  • The intersection occurs approximately 30 meters (98 feet) below a historical Anaconda unmined copper-silver block identified in Anaconda's 1978 district-wide records, according to the company.
  • The company stated it is currently drilling a follow-up hole, SBM26-10, collared from surface, with the goal of intersecting the Black Rock Copper Vein up-dip from the SBM26-09 intersection to test the extent of copper-silver mineralization at shallower depths.
  • Based on the interpreted vein orientation, the company estimates the true width of the 0.82-meter recovered mineralized interval to be approximately 50% to 60% of its reported downhole length; the company noted that because the upper Black Rock Copper Vein contact was not preserved and core recovery in the immediately overlying 1.95-meter (6.4 foot) interval was only 9%, the full true width of the vein at this location is uncertain.
  • The company stated that the Black Rock Copper Vein was mined by Anaconda for copper and silver from the 1600 Level down to the 3900 Level (approximately 500 m to 1,220 m below surface).
  • The company said it has not verified the historical copper-silver block as a current mineral resource or mineral reserve, and that no tonnage or grade can be attributed to it from the historical estimate.

Strategic/Operational Context

Phillip Nickerson, PhD, CPG, Vice President of Exploration, stated, "In Butte, this style of high-grade copper-bearing massive sulfide mineralization is known as Main-Stage mineralization, and it has been the primary source of historical production in this storied copper district. Intersecting Main-Stage mineralization in the Black Rock Copper Vein is an encouraging result. The intercept is located immediately below a historical copper-silver block shown in Anaconda's underground development records and is consistent with the location of mineralization documented in those records. While the high-grade interval is narrow, it gives us clear geological evidence for follow-up work. We see potential both to define more Main-Stage copper-silver mineralization and to expand the silver-lead-zinc-gold Mineral Resource currently outlined at the Rainbow Block. Going forward, we'll continue drawing on more than a century of historic Anaconda records in our drill hole targeting."

Travis Naugle, Chairman and Chief Executive Officer, stated, "This intersection illustrates the potential value of combining modern drilling with more than a century of geological information from the Butte District. Subject to additional drilling, the Black Rock Copper Vein may provide Silver Bow Mining the opportunity to evaluate the broader copper-silver potential of the Rainbow Block. Our next work will focus on testing continuity, geometry and grade so that we can determine whether this historic target can contribute to the Company's longer-term resource growth plans."

According to the company, under Anaconda's historical resource estimation methodology, selective vein-type copper-silver blocks were required to contain at least 2.0% copper, or its equivalent including silver, over a minimum mining width of 7 feet (2.13 meters), and to contain sufficient volume to warrant mining. The company noted that Anaconda's historical use of the term "resource" does not correspond to current Mineral Resource classifications under NI 43-101 or S-K 1300, and that the company has elected not to disclose the historical district-wide estimates in this news release to align with the limitations applicable to the company's SEC filings under Subpart 1300 of Regulation S-K.

Resources and Financials

  • Assay interval (SBM26-09): 662.15 to 662.97 meters (2,172.4 to 2,175.1 feet) downhole, 0.82 meters (2.7 feet)
  • CuEq: 8.20%; AgEq: 899.3 g/t (26.2 opt)
  • Cu: 6.22%; Ag: 207.1 g/t (6.0 opt); Zn: 0.27%
  • Metal prices used in equivalent grade calculations: Cu $4.00/lb; Ag $25.00/oz; Zn $1.31/lb, with estimated metallurgical recoveries of 90% assumed for all metals, according to the company
  • Drill hole coordinates (WGS84 UTM Zone 12N): Azimuth 14°, Inclination -57°, Easting 382,070, Northing 5,098,822, Elevation 6,209 ft, Length 664.65 m
  • Land package: approximately 4,210 acres of patented mineral claims and approximately 1,427 acres of surface lands across multiple claim blocks, according to the company

What to Watch Next

  • Results from drill hole SBM26-10, collared from surface, intended to test the extent of copper-silver mineralization in the Black Rock Copper Vein at shallower depths, according to the company.
  • Pending assay results from additional vein systems intersected in SBM26-09, including the Rainbow, Boston and Jersey Blue veins, according to the company.
  • Continued drilling to test continuity, geometry and grade of the Black Rock Copper Vein, as stated by the company.

About Silver Bow Mining Corp.

Silver Bow Mining Corp. is a minerals exploration company advancing its Butte Project, including the Rainbow Block, located in the Butte Mining District of Montana. The Company is targeting a broad suite of U.S.-designated Critical Minerals, including silver, copper, zinc, lead, manganese, germanium, gallium, antimony, bismuth and indium, alongside gold. The Company holds approximately 4,210 acres of patented mineral claims and approximately 1,427 acres of surface lands across multiple claim blocks in this historically prolific district, including the flagship Rainbow Block.

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