Silver Bullet Mines (OTCQB: SBMCF) has unveiled historical technical data for its recently acquired Columbia and Gold Queen mines, situated in Gila County, Arizona. These past-producing properties, located approximately 30 miles from the company’s Globe, Arizona mill, represent a strategic expansion aligning with Silver Bullet’s established “hub and spoke” business model.
This model, which the company has championed since 2020, centers on its wholly-owned mill as the “hub,” with proximate mines acting as “spokes” that supply mineralized material for processing. The acquisition of the contiguous Columbia and Gold Queen mines directly reinforces this strategy, potentially optimizing logistics and operational efficiencies by reducing transportation costs and streamlining ore processing.
Historically, these mines were significant copper producers, with secondary yields of gold, silver, zinc, and lead. Their tenure under Phelps Dodge Corporation, now a subsidiary of Freeport-McMoRan Inc. following a substantial acquisition, underscores their historical importance within Arizona’s well-documented Dripping Springs mining district.
Crucially, Silver Bullet Mines has emphasized that no National Instrument 43-101 (NI 43-101) compliant resource estimates are currently available for these properties. The disclosed data largely predates NI 43-101 guidelines or originates from entities not subject to its stringent requirements. The company acknowledges that the historical data is anecdotal, derived from trusted sources, and that the nature and quality of any prior geological work, including quality assurance and quality control (QA/QC) measures, remain unconfirmed by a Qualified Person who has visited the sites. Investors are advised to exercise caution and recognize that this data serves to inform the company’s investment thesis and potential future exploration strategies rather than providing definitive resource declarations.
The company has referenced a 2018 PowerPoint presentation compiled by a former owner of the Gold Queen and Columbia mines. Two of Silver Bullet’s current contractors, who were involved with the assets at that time, have attested to the perceived accuracy of the presentation’s content and authorship. The presentation’s author was reportedly a Canadian B.Sc., P.Geo., possessing the qualifications of a Qualified Person.
According to this presentation, historical shipments from Dripping Spring Mines, encompassing the Columbia and Gold Queen mines during the 1940s, reportedly contained 2-7% copper with gold grades ranging from 0.08 to 0.28 ounces per ton. More recent vein and stockpile sampling, as detailed in the presentation, has yielded high-grade gold assays, including results of 49.1 g/t, 35.8 g/t, and 27.6 g/t. Historical mine sketches included within the presentation also indicate significant copper assay results at depth within the Columbia Mine.
An independent consultant, Mr. Robert G. Komarechka, P.Geo., has reviewed and approved the technical information within this release as the Qualified Person, in accordance with NI 43-101. It is noted that Mr. Komarechka has not personally visited either the Columbia or Gold Queen mines.
In a separate corporate announcement, Silver Bullet Mines also disclosed the resignation of director John MacKenzie. Mr. MacKenzie is reportedly dedicating his full attention to establishing and leading a new Canadian mining venture that is seeking to raise capital and proceed with a public offering. The company expressed gratitude for his contributions to Silver Bullet’s development.
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