Burlington, Ontario – (Newsfile Corp. – January 5, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (“SBMI” or “the Company”) is very pleased to provide an update on the construction of its modular pilot plant in Arizona.
The plant is 100% owned by SBMI and, when completed, is expected to process up to 125 metric tonnes of material per day. It is modular in design and can be extended and modified as needed. The plant is built on private property owned by SBMI approximately 8 miles from Globe, Arizona and close to its Buckeye silver mine. According to the flowchart below, the factory is state-of-the-art.
“The SBMI management team has a substantial stake, so we, like all shareholders, are delighted to see the plant built as planned,” said A. John Carter, CEO of the company. “Despite persistent supply chain issues and exorbitant increases in material and transportation costs, we remain on track to begin commissioning in the first quarter of 2022. In anticipation of this commissioning, the company has already stored around 1,000 tons of material for feeding. “
The plant consists of a coarse ore feed silo, a fine ore silo, two-stage crushing and screening, and a computer-controlled variable-speed feed belt that leads to a grinding circuit. The grinding circuit is a closed circuit ball mill with a cyclone bank. The plan is for the product from the ball mill to be pumped directly to a pair of Falcon concentrators. The product from the concentrators is then gravity-fed to a full-size Diester concentrator table. The residues from the Falcons and the table are returned to the grinding circuit.
The cyclones then divide the feed with the oversized material returning to the ball mill and the undersized material going to the tailings thickener. The processed material of the appropriate size is then sent to the ingot furnace where the gold bars are cast. All residues are dried and all available water is recycled.
The ball mill as installed, on the shoe of the mill cast by SBMI for this purpose.
The plant is designed to maximize gold and silver recovery, although its modular nature means it can be adjusted to recover other metals.
Currently, over 90% of the necessary equipment is on site and being assembled (go to www.silverbulletmines.com to see photos of the plant under construction, or follow us on Twitter @BulletMines). The remainder is in a container in Long Beach, Calif., Awaiting unloading, on a schedule beyond the Company’s control. Some small items must be purchased as needed.
Overview of the SBMI mill site, showing the fine and coarse ore silos on the right, the ball mill in the middle and an assortment of equipment on the left.
In addition to having its own processing plant, SBMI has an on-site analysis facility that can deliver analysis results in less than a day. It also has its own 2 boom jumbo, LHD (load-haul-dump), big Bobcat and various other equipment. Having all of this equipment will allow the Company to process raw materials quickly, efficiently and economically, as well as generate income, without debt payments draining cash. The Company is in discussions with various groups regarding the purchase of gold and concentrates.
Finally, SBMI announces that it does not intend to spend any capital on a third party resource estimate or preliminary economic analysis for the Buckeye silver mine. In the Company’s opinion, given the nature of the known mineralization, the extensive historical third party documentation and the direct experience of the management team at Buckeye, a third party resource estimate or PEA would be appropriate. ‘a prohibitive cost to write without really advancing the knowledge of the Company. du Buckeye. “It’s old school mining,” Carter continued, “and for this project, it’s the right method. Producing from 6-foot-wide silver veins is not your standard mining opportunity, which means it requires a non-standard approach. Here, we believe the right approach is to do our own internal economic analysis. “
The next major events in Buckeye will be the arrival on site of the third container via the Long Beach supply chain and the delivery of test results by an accredited third party laboratory on a quarter of the 150 pound bulk sample announced. December 15th. 2021. The Company has no direct control over the timing of any of these events, but continues to work with its suppliers to expedite them as much as possible.
For more information, please contact:
Silver Bullet Mines Corp., CEO
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., Vice President of Capital Markets
+1 (416) 890-1232
Cautions and forward-looking statements
This press release contains certain statements which constitute forward-looking statements with respect to SBMI and its subsidiaries. Forward-looking statements are not historical facts, but represent management’s current expectations regarding future events and may be identified by words such as “believe”, “expect”, “will”, “a the” intention to “,” plans “,” projects “,” anticipates “,” estimates “,” continues “and similar expressions. Although management believes that the expectations represented in these forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual results, conditions, actions or future events to differ materially from those contained in forward-looking statements. If and when forward-looking statements are set out in this new press release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Unless expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. Future results relating to forward-looking statements may be influenced by many factors, including, but not limited to: the impact of SARS CoV-2 or any other global virus; the use of key personnel; the rigor of its QA / QA procedures; the continuity of the global supply chain for the materials that SBMI is to use in the production and processing of the ore; shareholder and regulatory approvals; activities and attitudes of local communities at the location of SBMI properties; the risks of future legal proceedings; income tax issues; fires, floods and other natural phenomena; the rate of inflation; availability and conditions of financing; distribution of securities; commodity prices; currency movements, especially between USD and CDN; effect of market interest rates on the price of securities; and potential dilution. SARS CoV-2 and other potential global viruses create risks that are currently immeasurable and undefinable.