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Bunker Hill (CSE:BNKR) mineral resource update

Mining
CSE:BNKR
22 March 2021 12:45 (EDT)

Bunker Hill Mining Corporation (BNKR) reports a significant resource increase at Bunker Hill Mine in Idaho’s Silver Valley, USA.

This underpins the Preliminary Economic Assessment (“PEA”), aimed at the mine’s rapid restart potential, due to be published in early Q2-2021.

Sam Ash, CEO of Bunker Hill Mining, stated,

“We are excited to see the results of our drilling campaign and continued digitization realized in this significant upgrade of the resource at Bunker Hill, building on the maiden resource we published less than a year ago.”

“As part of the on-going campaign to add more silver to our resources, we have also identified some exciting new silver exploration targets in the upper levels of the mine which will be evaluated by drilling over the next few weeks,” concluded Ash.

Additional drilling, modern data collection and assaying, quality assurance and quality control protocols, as well as the verification channel sampling program of 2020 has provided the necessary information to increase the confidence and classification of the Newgard, Quill and UTZ mineral resource estimates.

The preponderance of data has converted approximately 77 per cent of the Bunker Hill Mineral Resource to the Indicated Mineral Resource category.

Newgard and Quill were being actively exploited and developed prior to the shutdown of mining operations in 1991. High grade capping was applied to the assays prior to grade estimation.

Grades are estimated using Inverse Distance Cubed (ID3) interpolation techniques. Grades were estimated into a regularized 5 ft x 5 ft x 5 ft block model. A bull density of 11.3 cubic feet per ton was applied to the entire mineral resource based upon historic density values from production records at Bunker Hill.

Two hundred sixty-one drillholes, totalling 29,380-feet, containing 5,720 Pb, Zn and Ag assays were used to determine mineralization. Assays were composited to 4,483 5-foot composites.

Additionally, 4,545 historic production car samples and 394 channel sample verification samples were used for the resource estimate. 

New interpretation and analysis based on developments in the geologic model have identified an exciting, unique silver exploration opportunity in the Cate Fault hanging wall in the Bunker Hill Mine’s upper areas.

Silver production at Bunker Hill came mainly from discrete Galena-Quartz Veins that formed ore shoots hosted in preferable quartzite beds of the Revett formation.

The vein segments are bounded by significant normal faults such as the Dull, Kruger and Sullivan Faults, which have down-dropped large blocks of the stratigraphy and veins down to the south, with >4000 ft of collective displacement.

The more recent Cate Thrust Fault has then bisected this package of rocks, shifting rocks above the fault >500 ft up to the north.

Under new Idaho-based leadership, the Bunker Hill Mining Corp. intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver.

Bunker Hill Mining Corp. (BNKR) is up 8.02 per cent and is trading at US$0.31 at 11:49 am ET.

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