Bunker Hill Mining Corp. (the “Company”)
(CSE: BNKR) is pleased to report that the ongoing
digitization and 3D modeling of historic geological data has
confirmed numerous high-grade Silver exploration targets at its
Bunker Hill Mine located in Idaho’s Silver Valley, USA. Based on
the enhanced geological understanding, the Company confirms that it
is pursuing the high grade silver potential of the Bunker Hill mine
as its primary focus. As such, a first high grade silver focused
exploration campaign is set to commence in the coming days.
Sam Ash, CEO stated: “This modernizing
digitization process, underpinned by the high quality and quantity
of the data, has significantly enhanced our geologic understanding
and boosted our confidence in the high grade silver potential of
the Bunker Hill Mine. We have therefore made silver our primary
focus and we look forward to exploring the multiple targets
identified to date, starting with drilling from
mid-September”.
Following the change in management in early
2020, a digitisation program was launched in Q2-2020 to leverage
the historical mine data collected over a 95-year period to
identify and prioritize high grade silver targets. Data has been
inputted from over 180,000 meters of drilling from 3,500 historic
drill-holes and hundreds of detailed historic mine geology maps
capturing all major faults and veins, alterations, mineralization
and stratigraphy.
Initial modeling has allowed for a
reconstruction of rock units and vein structures to their position
prior to post-mineral fault offsets, providing a new level of
interpretation on controls of mineralization, and enabling
projection of vein segments offset by these faults. This in turn
has informed the ongoing development exploration targets aimed at
specific offsets of veins with historic high-grade silver
production and target the exact host rock with the best potential
for thicker vein widths.
The 3D geological model created has
significantly enhanced the Company’s understanding of the
underlying geology, with the following key takeaways:
- Correlation of the strongest mineralization with the quartzites
of the M2 Unit of the Upper Revett Formation
- Confirmation of the deposition sequence and the vein types
- Further confirmation that the faulting occurred
post-mineralization
Planning for the upcoming exploration program is
currently being finalized, with the goal of prioritizing silver
targets which are close to the surface and in proximity to existing
infrastructure.
The previous exploration campaign, conducted in
Q2-2020, was focused on confirming the mineralization of the
zinc-rich Newgard, Quill and UTZ ore bodies. Drill results have
been successfully analyzed and a maiden Inferred resource is
expected to be published in the coming weeks.
ABOUT THE HISTORICAL DATA DIGITISATION
PROCESS
During the long and continuous operating history
of the Bunker Hill Mine, its geologic staff systematically mapped
over 150 miles of underground workings, with the data recorded on a
standardized series of maps for planning and exploration. In
addition, the mine completed over 180,000 meters of drilling from
3,500 drill holes, meticulously recording the findings using the
various pre-digital systems available at the time. When major
mining operations at Bunker Hill ceased in 1981, these and other
relevant data sets were catalogued and preserved at the Bunker Hill
Mine, where it has remained, relatively untouched, for the last 40
years.
Following the change in executive management in
Q2 2020, and concurrent to a verification program designed to
establish a resource estimate for the mineralization contained
within the Quill, Newgard and UTZ ore bodies, a data digitisation
program was launched to better leverage the historical mine data
collected over a period of 95 years in order to identify and
prioritize high grade silver targets.
This has enabled the construction of the first
3D geologic and structural models of the Bunker Hill Mine which has
enhanced the Company’s understanding of its overall potential as
well as improved its ability to more accurately target its
underexplored silver.
DESCRIPTION OF KEY
FINDINGS:
(1) Correlation of
the strongest mineralization with the quartzite lithologies of the
M2 Unit of the Upper Revett Formation.
Analysis and review of
geologic data and reports in the historic data set revealed that
mineralization at the Bunker Hill mine is most strongly correlated
to specific lithologies. Specifically, it has shown that the
primary host rock is the thicker quartzite units within the Revett
formation, and the M2 unit in particular.
Figure 1: Historic surface lithology map digitized
and uploaded into 3D
modelhttps://www.globenewswire.com/NewsRoom/AttachmentNg/f560c2cd-e30f-4b01-959f-311614c0e883
- Digitizing the detailed geologic mapping data has allowed the
creation of the first 3D lithology and structural model. Previous
geologists were only able to look at this data in plan view on a
level by level basis on hand-plotted cross-sections; a
time-consuming and disjointed process that made it extremely hard
to accurately interpret and project the complex series of
structures and lithologies hosting and cutting the
mineralization.
- In contrast, the modern 3D model is designed to reconstruct the
stratigraphy in ways that take account of post-mineral fault
offsets, allowing the team to model and visualize the structural
preparation of the host rocks prior to and during mineralization.
This enables an exploration model to target areas of proven
structural preparation, in preferable host rocks, with geologic
evidence of mineralization. These targets areas can then be offset
by the known movement vectors and timing on the post-mineral fault
system and projected to their current position for drill
testing.
Figure 2: Historic lithology map
overlaid on surface topography with 3D model of sub surface
lithologyhttps://www.globenewswire.com/NewsRoom/AttachmentNg/23e2b243-de7b-44c6-82a2-07d5b8bd8425
- This investigation has also highlighted sections of this
prospective M2 Unit that have not yet been explored or mined. Some
of these are parallel to historical mining areas and near to the
surface and existing infrastructure, as seen in Fig 2 above.
(2) Confirmation
of the deposition sequence and the vein types
- A digitally enabled projection of the historical geologic data
onto the structural investigations conducted in the late 1970s
indicate that there were two distinct depositional events at Bunker
Hill. The first represented by a West-Northwest trend of
zinc-dominant mineralization with gradational margins, known
locally at the Bluebird Veins; with the second
being a series of North-Northeast trending structures with
silver-lead mineralization with sharp, vein-like contacts that
post-date and cut the earlier zinc mineralization known locally as
the Galena-Quartz Veins.
- Hybridization also occurs in areas where the secondary
lead-silver mineralization intersects and enriches the areas of
primary zinc mineralization.
Figure 3: Cross-Section of Bunker
Hill Mine workings, looking northeast at 054 azimuth. Red shapes
are historic stopes on zinc-dominant mineralization along
west-northwest Bluebird Vein system. Magenta shapes are
northeast oriented Galena-Quartz Vein system with historic
high-grade silver
productionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/a969092b-31c3-477a-b070-b333e1e2ddee
- The geological reports of the 1970s concluded that high-grade
silver deposition is largely controlled by the North-Northeast
Galena-Quartz Vein system, and this has been confirmed by the new
3D modeling process, which enables the design of a silver-focused
exploration program of these veins contained within the M2
Quartzite Units.
- The recent exploration conducted in Q2 2020 of the
mineralization contained within the Newgard, Quill and UTZ Ore
bodies above 10 Level, was focused on verifying part of a primarily
zinc-rich Bluebird Vein structure, with some evidence of
hybridization.
(3) Further
confirmation that the faulting occurred
post-mineralization.
- Prior to the first detailed structural studies conducted in the
late 1970s, it was believed that it was the many faults, and in
particular the Cate Fault, that were the key structures controlling
mineralization. An assumption that underpinned the exploration and
mine planning for nearly 95% of the mine’s history.
- But as a result of this seminal work conducted in the last few
years before the mine closed in 1981, it was demonstrated that the
structure of the Bunker Hill deposits is associated with an
anticline in the Revett formation and hosted by the fold-generated
fractures and brecciation in the quartzite beds created in the
hinge and near-hinge limbs of the flexure, with faulting occurring
post-mineralization.
Figure 4: M2 quartzite unit of the Revett
formation with offsets along post-mineral
faults.https://www.globenewswire.com/NewsRoom/AttachmentNg/d9cf2f0a-13c9-4aa2-8925-36404a33c3f2
- Digitization and subsequent 3D modeling and analysis has
enabled creation of a comprehensive fault model. This has allowed
for the exploration targets envisioned by the prior generation of
geologists to be reconstructed and pinpointed as well as
facilitating the identification of movement vectors along
structures. Crucially, this allows targeting of offset portions of
veins with historic high-grade silver production, and projection of
structures controlling silver-lead mineralization into preferential
host rocks across offsetting structures, well outside of
historically mined or explored areas.
CONCLUSIONS AND NEXT STEPS
Fusing the conclusions drawn from this data-rich
3D model with the seminal analytical work done in the final years
of the mine’s life has enabled the Company to categorise the
exploration potential of this polymetallic mine relative to both
structure and primary mineral; and then identify the location of
specific galena-quartz or hybrid veins as high-potential silver
exploration targets. Planning for the upcoming exploration
program is currently being finalized, with the goal of prioritizing
silver targets which are close to the surface and in proximity to
existing infrastructure. A first high grade silver focused
exploration campaign is set to commence in the coming days.
Qualified Person
Mr. Scott E. Wilson, CPG, President of Resource
Development Associates Inc. and a consultant to the Company, is an
independent “Qualified Person” as defined by NI 43-101 and is
acting at the Qualified Person for the Company. He has reviewed and
approved the technical information summarized in this news
release.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 6999sa@bunkerhillmining.com
Cautionary StatementsCertain
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 the information contained herein.
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