Bunker Hill Mining Corporation has reported that initial drill results from the ongoing exploration program at its Bunker Hill Mine located in Idaho’s Silver Valley, USA, has confirmed mineralization in levels above the current resource boundary, which is expected to materially increase the resource base for the Preliminary Economic Assessment.
The PEA, to assess the potential to quickly restart production as described within the November 12, 2020 press release, remains on track for publication in late Q1-2021 as the study is advancing according to plan with a full team of technical consultants retained. The Company believes that there is strong potential to quickly restart production, which stopped in the early 1980s, for minimal capital by focusing on the de-watered upper areas of the mine, utilizing existing infrastructure. The rapid restart would allow the Company to self-fund its ongoing high grade silver exploration, immediately crystalize the value created through exploration, and demonstrate its ability to successfully operate the mine based on modern techniques.
Sam Ash, CEO of Bunker Hill Mining, stated: “We are excited by the continued progress in our drill program, the initiation of our PEA, and the initial assay results that are coming back. The combination of expansive base metal mineralization with high grade silver intercepts continues to support our belief that in addition to base metals, silver mineralization at Bunker Hill has the potential to create significant value. We have been prioritizing the samples to obtain information for the drilling areas which will support the PEA to ensure that our initial study incorporates an expanded and upgraded resource.”