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TORONTO, June 16, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTC: BHLL) is pleased to announce the initiation of a ground geophysical survey over the previously un-tested southern extension of its claims package.
The program, scheduled for Q3 2021, will be conducted as a high-resolution 3D IP (DCIP) survey method from Dias Geophysical Ltd utilizing their proprietary DIAS32 survey system. The total coverage area will span approximately 6 square kilometers (1,500 acres) to a depth of 400 meters (1,300 feet) over previously un-explored ground immediately south and south-west of historic underground workings, with the objective of identifying near-surface drilling targets that are directly accessible from existing works.
Sam Ash CEO stated, “The historic mine workings at Bunker Hill cover only 900 acres of the 5,800-acre land package. We are excited to be testing the portion of the property immediately to the south of these workings, which is un-explored and has the potential for the discovery of significant additional mineralization.”
Overview
The geophysics program will be constructed with lines run in a SW/NE direction, crossing perpendicular to the general orientation of prominent fault structures and zinc dominant ore bodies. The 3D nature of the survey, in combination with a common voltage referencing (data collected perpendicular to line orientation) technique, will also work to image the silver-dominant structures which have been mapped in a general NE/SW orientation.
Due to the narrow nature of the ore bodies and veins, a line spacing of 150m was selected to be run over the entire survey boundary to maintain a high-resolution product. At this spacing, imagery should be acquired to a maximum depth of 400m.
Image 1: Map of planned 3D IP survey boundary and IP line orientation with relation to historic Bunker Hill mine footprint and contiguous claims package
https://www.globenewswire.com/NewsRoom/AttachmentNg/a15e8b96-ea38-4074-9f2f-1029b5045b4f
Note: The towns of Kellogg and Wardner, ID are also shown, along with adjacent mines.
The structural patterns identified at the Bunker Hill mine from the site’s extensive map collection show numerous large-offset faults that have worked to control historically mined structures. There is potential for the additional faults south of the current mined footprint to repeat mineralized sections displayed in the north.
As such, the program seeks to delineate extensions of known mineralized trends, as well as un-identified, adjacent structures just south of historic mine workings. Surface mapping indicates faulted wedges of both Revett and St. Regis quartzites over the survey area. Historically these units hosted the majority of production from the Bunker Hill and many other Silver Valley mines.
Line clearing and surveying are currently underway. The 3D IP survey will be done in conjunction with high-resolution surface lidar and imagery collection over the entirety of the survey boundary.
In addition to the geophysical program, Bunker Hill geologists work to continue the digitization of scanned geologic maps specifically targeting the vein systems worked at the lower portions of the mine. A total of 7 historic mining areas, have been identified as zones where production ceased due to mine closure and remain open at depth. New geologic and sample maps have been located allowing for the complete digitization of vein structure and placement of both channel and muck car samples to generate grade estimations for in-situ mineralization. An updated mine plan will work to extend development past currently planned depths, intersecting the down-dip vein extension to bring silver-lead dominant mineralization into projected mill feed.
Image 2: Idealized long section of historic Bunker Hill workings and estimated 2021 PEA resource boundary
https://www.globenewswire.com/NewsRoom/AttachmentNg/8363a5ef-0832-4e60-9cc7-7ccdfee0a8e2
Note: mining areas of focus for down-dip extensions are shown as either Zn mineralization or Pb-Ag mineralization. Gradient filled boxes are estimated orientations of down-dip mineralization extensions and do not reflect total depth or area of projected mineralization.
Bunker Hill remains one of the more shallowly developed mines in the Silver Valley and prospects of continued high-grade silver veins continuing below the bottom of current development are high. The zonation pattern of increased silver-lead ratio with depth displayed in adjacent Silver Valley mines is projected to be seen at Bunker Hill with continued down-dip development.
For additional information contact: ir@bunkerhillmining.com
Cautionary Statements
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 results of the Company’s Preliminary Economic Assessment (“PEA”); the potential of the Bunker Hill Mine to be re-started rapidly based on the results of the PEA; the PEA representing robust financial returns; estimated capital expenditures and restart timeline; the timing for discussions with interested parties regarding restart financing and the completion of ongoing technical studies; and 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 those risks set out in the Company’s public documents filed on SEDAR and EDGAR. 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 the information contained herein.
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