- Bayhorse Silver (TSXV:BHS) is kicking off a 1500-metre drilling program at the Brandywine project in British Columbia
- Previous exploration at the site returned results of 36.9 grams per tonne gold over 1.52 metres and 14.4 grams per tonne gold over 3.4 metres, which included 1.52 metres at 20 grams per tonne
- To fund the work, Bayhorse silver has announced a new share offer
- The private placement will issue 10 million units, offering five million flow through units and five million non-flow through units for C$625,000 and $400,000 in gross proceeds, respectively
- Bayhorse Silver (BHS) is in the grey and is trading at 8.5 cents per share
Bayhorse Silver (TSXV:BHS) is kicking off a 1500-metre drilling program at the Brandywine project in British Columbia.
The company has a minimum of 1,500 metres of diamond drilling planned for the site this summer.
10 holes are planned at the Dave’s Pond target, the company’s most prospective of the Brandywine targets,
Dave’s Pond lies in the centre of the Brandywine project and has been drilled twice before, once by LaRock in 1995 and again by Auramex in 2010.
Bayhorse resampled some of the Auramex cores in 2019 and 2020, one of which returned results of 36.9 grams per tonne gold over 1.52 metres and 14.4 grams per tonne gold over 3.4 metres, which included 1.52 metres at 20 grams per tonne.
CEO of Bayhorse Silver, Graeme O’Neill is confident about the site’s prospects.
“With visible gold present at Dave’s Pond gold-silver zone at shallow depths and the widespread gold and silver in the VMS portion, identified by the results of Placer Dome’s extensive soil sampling, we anticipate early results from our drill program,” he said,
To fund this work, the company has announced a 10-million-unit private placement, offering five million flow through units and five million non-flow through units.
The flow-through units will consist of one common share at a purchase price of C$0.125, along with a warrant for a further share purchase at $0.20 for two years after issuance.
The non-flow through shares will be also consist of one common share for a price of $0.08 per share, along with a warrant for a further share at $0.18 per share.
Bayhorse Silver (BHS) is in the grey and is trading at 8.5 cents per share at 3:45 pm EDT.
