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Silver Bull Resources Inc
Symbol SVB
Shares Issued 177,894,967
Close 2017-03-22 C$ 0.125
Market Cap C$ 22,236,871
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Silver Bull drills 81 m of 0.64% Zn at Sierra Mojada

2017-03-22 08:26 ET - News Release

Mr. Tim Barry reports

SILVER BULL PROVIDES EXPLORATION DRILLING RESULTS

Silver Bull Resources Inc. has released the results of its recent exploration drill program targeting deep structures on the Sierra Mojada project in Coahuila, northern Mexico.

In September, 2016, the company completed a 590-line-kilometre airborne magnetic geophysics survey over the main deposit at Sierra Mojada targeting structures at depth. In addition, over 20,000 metres of drill core were relogged over areas of high interest and a new structural model developed for the main deposit. This work identified a number of deep structures coincident with known high-grade historical silver and zinc mines in the area and were the main targets for the drill program.

Five exploration holes targeting these deep structures underneath the main zone of mineralization were drilled for a total of 3,270 metres drilled and the results are shown in the associated table.


Hole ID Total length                                                                           Results

                     460 m of intense silica alteration; no significant assay results -- bottom of the
B16001         793 m      hole finished in eight grams per tonne silver and 0.3 per cent zinc at 793 m
                         360 m of intense silica alteration; 50 m at 0.15 per cent copper and 27.1 g/t
B16002         833 m                silver from 220 metres including 38.4 g/t silver over seven metres
                                            180 m of intense silica alteration; 115 m at 0.25 per cent
B17001         589 m                     zinc from 165 metres including 29 metres at 0.1 per cent lead
                                                                         81 m at 0.64 per cent Zn from 
B17002         515 m               74 metres including 17 m at 65 g/t Ag and 41 m at 1.4 per cent lead
B17003         540 m                                                            no significant results

* Intervals shown are mineralized lengths of core and are not necessarily true widths.
        

Although no significant high-grade mineralization was intercepted in these holes, zones up to 460 metres of silica alteration resulting in total replacement of the original country rock with silica in places were intercepted, and are typical of the sort of alteration expected proximal to an intrusion, the genesis of the mineralization already defined at Sierra Mojada. Highly anomalous zinc grading between 0.1 per cent and 0.7 per cent is often associated with this silification as well as lesser, silver, copper and lead. These zones were also highly anomalous in manganese, grading up to 1 per cent, which is also typical of carbonate replacement systems, which, when combined with the low-grade zinc, silver, lead and copper, is thought to represent a lower-grade halo around the main deposit and provides a powerful vectoring tool for future drilling. A map showing the location of the drill holes, in relation to the main deposit is shown in the associated table.

Tim Barry, president and chief executive officer of Silver Bull, stated: "This was pure exploration drilling and we gained extremely valuable insight into the geology of the Sierra Mojada deposit, and now have a number of vectors on where to drill next to target the sulphide feeder zones. These were the deepest holes drilled at Sierra Mojada to date on the project and we have gained a significant understanding on the mineralizing system. When one considers the size of the current resource already defined at Sierra Mojada, coupled with thicknesses of over 400 metres of intensely altered (silicified) country rock, as well as the yet-undrilled widespread mineral occurrences and historical workings over a 25-kilometre strike on the project, it suggests we are on the edge of an extremely large system that requires more systematic exploration and which may represent the true prize at Sierra Mojada."

In addition to silver mineralization reported at Sierra Mojada, Silver Bull has also previously defined a discrete and separate high-grade zone within the project of measured and indicated zinc oxide mineralization of 10.03 million tonnes grading 11 per cent zinc (at a 6-per-cent cut-off grade) and which represents one of the largest undeveloped zinc resources in Mexico. During 2017 Silver Bull plans to refine the metallurgy on this zinc zone, the last piece of information ultimately needed to commence a preliminary economic assessment on the zinc zone.

Sample analysis and quality assurance/quality control

All samples have been analyzed at Bureau Veritas in Vancouver, B.C., Canada. Samples are first tested with the MA300 procedure which analyzes for 36 elements using a four-acid digestion. Samples with silver values above 100 parts per million are reanalyzed using the FA350 procedure which is a fire assay with a gravimetric finish. Samples with zinc, lead and copper values above 10,000 ppm (1 per cent) are reanalyzed using the AR402 procedure which is a near-total aqua regia digestion.

A rigorous procedure is in place regarding sample collection, chain of custody and data entry. Certified standards, blanks and duplicate samples are routinely inserted into sample shipments to ensure integrity of the assay process.

The technical information of this news release has been reviewed and approved by Tim Barry, a chartered professional geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.

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