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Silver Bull Resources Inc. [SVB-TSX; SVBL-OTCQB] reported its maiden mineral resource estimate on the Beskauga copper-gold project in Kazakhstan completed by CSA Global Consultants Canada Ltd.
Highlights of the mineral resource report include an open-pit-constrained indicated mineral resource of 207 million tonnes grading 0.35 g/t gold, 0.23% copper and 1.09 g/t silver for 2.33 million ounces of gold, 476,100 tonnes of copper and 7.25 million ounces of silver.
The open-pit-constrained inferred mineral resource is 147 million tonnes grading 0.33 g/t gold, 0.15% copper and 1.02 g/t silver for 1.56 million ounces of gold, 220,500 tonnes of copper and 4.82 million ounces of silver.
The constraining pit was optimized and calculated using a net smelter returns royalty cut-off based on a price of: $1,500/oz for gold, $2.8/lb for copper, $17.2/oz for silver, and with an average recovery of 81.7% for copper and 51.8% for both gold and silver.
Notes:
An NSR $/t cut-off of $5.70/t was used, and the NSR formula is: NSR $/t = (38.137+11.612 x Cu%) x Cu% + (19.18 + 12.322 x Au g/t) x Au g/t + (0.07 + 0.0517 x Ag g/t) x Ag g/t
The NSR formula incorporates variable recovery formulae. Average copper recovery was 81.7% copper and 51.8% for both gold and silver.
Metal prices considered were $2.80/lb copper, $1,500/oz gold and $17.25/oz silver.
The Resource is stated within a pit shell that considers a 1.25 factor above the metal prices.
Mineral Resources are estimated and reported in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves adopted 10 May 2014.
Silver Bull Announces the Closing of the Option Agreement to Acquire the Beskauga Copper-Gold Project in Kazakhstan Silver Bull Resources, Inc. VANCOUVER, British Columbia, CANADA
VANCOUVER, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull”) is pleased to announce it has completed its due diligence and has closed om the option agreement with Copperbelt AG (“Copperbelt”), a public, non-listed mineral exploration company registered in Zug, Switzerland, regarding their 100% owned Beskauga copper-gold project located in northeastern Kazakhstan.
Highlights of the Agreement
With the closing of the deal Silver Bull has paid Copperbelt a total of US$70,000 in upfront fees.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Silver Bull Announces the Closing of the Option Agreement to Acquire the Beskauga Copper-Gold .
Silver Bull Resources, Inc.January 26, 2021 GMT
VANCOUVER, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull”) is pleased to announce it has completed its due diligence and has closed om the option agreement with Copperbelt AG (“Copperbelt”), a public, non-listed mineral exploration company registered in Zug, Switzerland, regarding their 100% owned Beskauga copper-gold project located in northeastern Kazakhstan.
Highlights of the Agreement With the closing of the deal Silver Bull has paid Copperbelt a total of US$70,000 in upfront fees.