http://www.bayhorsesilver.com/...oved-to-access-underground-workings/
Bayhorse Silver Update: Blackwater Gold Mine, Adjacent to Alexander River Gold Project, Reefton Gold District, New Zealand Approved to Access Underground Workings Posted on Aug 25, 2014 in News Release
Bayhorse Silver Inc. (“Bayhorse” or the “Company”) BHS: TSX-V, reports that Oceana Gold Corp, (“Oceana”), has received a ”resource consent” to access historic underground workings at its Blackwater gold mine, 10 km from the Company’s Alexander River gold project, Reefton Gold District, on the West Coast of New Zealand’s South Island.
The Reefton gold field has produced in excess of 2 million ounces of lode gold from a number of historic and operating mines, with majority of production coming from Oceana’s currently operating Globe Progress gold mine, and it’s historic Big River and Blackwater mines, as well as from Bayhorse’ Alexander River gold mine.
Access to the Blackwater is reported to be gained by twin 3.3 km declines driven from the nearby Snowy River. (see map at http://www.bayhorsesilver.com/properties/alexander/) The Blackwater mine produced approximately 730,000 ounces of Au down to 2,900 feet. In1951 the shaft collapsed closing the mine. Drilling at Blackwater under the historic workings has identified an inferred resource of 0.9 Mt @ 23 g/t Au for 700,000 ounces of gold (Oceana 2014 Fact Book).
Bayhorse’s Alexander River Gold Project, where historically a reported 41,000 ounces of gold was recovered from 47,000 tons mined, lies 10 km to the southeast of the Blackwater mine. The Alexander River Gold Project has the potential to host a major gold deposit.
**************************************************
Bayhorse Silver Inc. is a junior exploration company earning an 80% interest in its newly acquired historic Bayhorse Silver Mine, Oregon, USA with the potential for a substantial silver discovery. It has a 100% interest in its three high grade New Zealand gold prospects (Alexander River, Paparoa and Red Queen), in the prolific West Coast South Island gold fields of New Zealand, with the potential for a major gold discovery. The Company has an experienced management and technical team with extensive exploration expertise.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents. The contents of this news release has been reviewed and approved by Dr. Clay Conway, P.Geol., and Qualified Person as recognized by National Instrument NI-43-101 and a director of the Company.
ON BEHALF OF THE BOARD
“Graeme O’Neill”
Graeme O’Neill, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements – All statements herein, other than statements of historical fact, including, without limitation, plans for and intentions with respect to the Company’s capitalization, preparation of technical reports, proposed work programs, budgets and proposed expenditures, permitting, construction and production timing are forward looking statements. While the Company believes such statements are reasonable, no assurance can be given that any expectations will prove to be correct and the forward-looking statements are not guarantees of future results or performance and that actual results may differ materially from those in the forward-looking statements. Readers should not place undue reliance upon forward-looking statements and the Company undertakes no obligation to re-issue or update any forward-looking statements as a result of new information or events after the date hereof or as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement,
|