Not For Distribution To United States Newswire Services Or For Dissemination In The United States
TORONTO, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp (the “Company”) (CSE: BNKR) is pleased to announce that it has filed on SEDAR an independent technical report for its Bunker Hill Silver Project located in Idaho’s Silver Valley, USA. The technical report includes detailed information regarding the recently completed digitization and 3D modeling of historic geological data which confirmed numerous high-grade silver exploration targets and formed the basis for its shift to high grade silver exploration.
Resource Development Associates, who prepared the independent technical report, strongly recommend that exploration should be focused on the silver potential with the following conclusions:
- The production of over 160 million ounces of silver from 1887-1981 at the Bunker Hill Silver Project should be investigated.
- The near surface historic Caledonia and Sierra Nevada Mines were bonanza grade silver producers in the past. These and other known occurrences of silver should be investigated.
- The confirmation drilling program, conducted in H1 2020, identified intercepts of 10 to 20 ounces per ton of silver, which should also be investigated.
- The J vein and Francis stopes hosted high grade silver mineralization, which should also be investigated.
In line with the recommendations contained within this report, the Company launched a first high grade silver focused exploration campaign in September 2020. The exploration program consists of 4,570 meters (15,000 feet) of diamond drilling from surface and underground focused on targets in the upper levels of the mine located in close proximity to existing infrastructure. Drilling is advancing on schedule with first drill results expected to be published in a few weeks’ time.
The Technical Report supports the disclosures made by the Company in its September 28, 2020 news release entitled, “Bunker Hill Provides Exploration Update and Announces Maiden Resource”, and its September 9, 2020 news release entitled, “Bunker Hill Mining Confirms Numerous High-Grade Silver Exploration Targets Following Digitisation of Historic Data”. The effective date of the Technical Report is September 29, 2020, and there are no material differences between the results announced in the news release and those contained in the report filed on SEDAR ( www.sedar.com ) and available on the Company’s website ( https://bunkerhillmining.com/ ). The technical report, entitled, “Technical Report For The Bunker Hill Mine, Coeur d’Alene Mining District, Shoshone County, Idaho, USA” written by Scott E. Wilson, CPG, SME-RM of Resource Development Associates, Inc. dated October 15, 2020 (the “Technical Report”) and prepared in accordance with Canadian Securities National Instrument 43-101 - Standards of Disclosure for Mineral Properties (“NI 43-101”).
Scott E. Wilson, CPG, SME-RM is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical data and information contained in this news release.
The Technical Report is based on all available technical and scientific data available as of September 29, 2020. Mineral Resources are considered by the QP to meet the reasonable prospects of eventual economic extraction due two main factors: 1) cutoff grades are based on scientific data and assumptions related to the project; and 2) Mineral Resources are estimated only within blocks of mineralization that have been accessible in the past by mining operations as well as by using generally accepted mining and processing costs that are similar to many projects in Idaho. The exploration and development of mineral properties involves risk. There can be no assurance that the exploration program discussed in this Technical Report will result additional Mineral Resource Estimates. Numerous factors such as commodity price fluctuations, property tenure, environmental and permitting issues, metallurgical and geotechnical considerations may have a material impact on the Bunker Hill Project.
ABOUT BUNKER HILL MINING CORP.
Bunker Hill Mining Corp. has an option to acquire 100% of all saleable assets at the Bunker Hill Mine. Information about the Company is available on its website, www.bunkerhillmining.com , or within the SEDAR and EDGAR databases.
For additional information contact:
Sam Ash, President and Chief Executive Officer
+1 208 786 6999
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine Complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.