Bunker Hill announces Idaho maiden resource estimate; exploration underway

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Bunker Hill Mining Corp. [BNKR-CSE; BHLL-OTC] has begun its first high-grade silver-focused exploration campaign at its Bunker Hill Mine, located in Idaho’s Silver Valley, United States.

The exploration campaign is being supported by the enhanced geological understanding gained following the recently completed digitization and 3-D modelling of historic geological data, which confirmed numerous high-grade silver exploration targets.

This first high-grade silver exploration program will consist of 4,570 metres (15,000 feet) of diamond drilling from surface and underground, focused on targets in the upper levels of the mine located in close proximity to existing infrastructure.

Sam Ash, CEO, stated: “We are excited to commence our high-grade silver-focused drilling campaign as it is the culmination of six months of forensic work, as we have analyzed over 95 years of historical mine data to identify and prioritize our targets. Following this analysis, we made silver exploration our primary focus given the potential to unlock significant value.”

In addition, the company has verified the mineralization on which the historic reserve was tabulated, based on the drilling, sampling and data review campaign conducted in second quarter 2020 prior to its strategic shift to high-grade silver exploration. A total maiden inferred resource of ~9 million tonnes has been delineated, thereby boosting confidence in the quality of historical data – see below.

Commenting on the maiden inferred resource, Ash added: “We are pleased to have outlined this maiden resource as it boosts confidence in our ability to delineate resources in a cost-effective manner by leveraging historical mine data. While high-grade silver remains our main focus, this zinc-rich resource offers strategic optionality.”

The resource estimate was undertaken by Resource Development Associates Inc. (RDA) of Denver, Colorado and is based on RDA’s independently recommended program, which verified the 1991 Bunker Hill historic reserves. Verification included the collection of 753 drift rib and back channel samples, totalling 1,150 metres (3,765 feet), taken from existing accessible open mining stopes, as well as 43 diamond drill holes, totalling approximately 2,800 metres (9,200 feet) of drilling.

NI 43-101 compliant Inferred Resources are estimated to be 8,851,000 tonnes grading 1.27 oz/ton silver, for 11,240,000 oz, 2.31% lead, for 409,555,000 lb, and 4.97% zinc, for 879,678 lb.

Bunker Hill has an option to acquire 100% of all saleable assets at the Bunker Hill Mine.

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