Silver Bull and Arras Minerals Appoint Darren Klinck as President
Vancouver, British Columbia September 29, 2021 – Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull”) and Arras Minerals Corp. (“Arras”) are pleased to announce the appointment of Darren Klinck to both companies as President, effective October 1, 2021. Mr. Klinck will also be joining the Board of Directors of Arras.
Mr. Klinck is an accomplished mining executive with considerable management experience throughout Australasia & The Americas. He was most recently President & CEO of Bluestone Resources, following the acquisition of the Cerro Blanco gold project in Guatemala in 2017, where he led the team that financed and advanced the project through resource expansion, feasibility and engineering phases of project development.
He also spent more than ten years with OceanaGold as a member of the Executive Committee that achieved significant growth and business expansion to become a multi-mine, international gold mining company, growing from a market capitalization of less than C$100M to one greater than C$3B.
Over the past 20 years, Darren has been instrumental in negotiating both equity and debt financing packages totaling more than $800m and has significant experience leading teams in emerging markets with a strong focus on Corporate Social Responsibility (CSR) and community engagement programs, as well as extensive government relations activities.
Mr. Klinck has a Bachelor of Commerce degree from the Haskayne School of Business at The University of Calgary. He is a Director of ValOre Metals Corp and Gold Basin Resources Corp.
Mr. Klinck commented, “I look forward to working closely with Tim and the team as we advance from a solid base already in place in Mexico at Silver Bull but also as we begin to emerge with Arras in Kazakhstan. The team has done a terrific job through this challenging global pandemic to evaluate opportunities focusing on high-quality geological potential in jurisdictions that welcome mineral development. The significant opportunity established in Kazakhstan by Arras over the past year has positioned the company to be an early mover in one of the few copper-gold belts remaining globally that has not benefitted from significant modern exploration and focus. Pleasingly, Beskauga is already a significant deposit in its own right and provides a solid base from which to build on in the future within a country that is the most advanced economy in Central Asia; has recently modernized their mining regulations based on Western Australian code; and is now seeing new entrants comprising of the largest players in our industry.”
Brian Edgar, Chairman of Silver Bull stated “This is an important step forward for Silver Bull and Arras. Darren’s appointment significantly strengthens and diversifies our existing management team. He has a track record of creating shareholder value and a broad range of experience in management, corporate finance and investor relations. Silver Bull and Arras have two exceptional projects which provide exposure to silver and zinc, and gold and copper, respectively, and Darren’s capital markets expertise, coupled with management’s technical expertise, positions the Companies for significant success.”
Silver Bull and Arras Moving Forward: On September 24, 2021, Silver Bull completed the distribution of shares of Arras to its shareholders. Silver Bull continues to own approximately 4% of Arras, on a non-diluted basis.
Silver Bull will continue to focus on the Sierra Mojada project and surrounding area in Mexico and managing the joint venture option with South32. It will continue to trade under the symbol “SVB” on the TSX, and “SVBL” on the OTCQB.
Arras as a standalone entity will focus on the Beskauga deposit in Northeastern Kazakhstan.
The exploration activities of both companies will continue to be managed by current management and will be headquartered in Vancouver.
A summary of Arras’s Beskauga project in Kazakhstan, and the Sierra Mojada Project in Mexico is provided below.
Beskauga Deposit, Kazakhstan: The Beskauga deposit is an open pittable gold-copper-silver deposit with a NI 43-101 compliant “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 contained gold, 476.1 thousand tonnes of contained copper, and 7.25 million ounces of contained silver and an “Inferred” Mineral Resource of 147 million tonnes grading 0.33 g/t gold, 0.15% copper and 1.02 g/t silver for 1.56 million ounces of contained gold, 220.5 thousand tonnes of contained copper, and 4.82 million ounces of contained silver.
The constraining pit was optimised and calculated using a NSR cut-off based on a price of: $1,500/oz for gold, $2.80/lb for copper, $17.25/oz for silver, and with an average recovery of 81.7% for copper and 51.8% for both gold and silver. Mineralization remains open in all directions as well as at depth.
Table 1. Pit-constrained Mineral Resource estimate for the Beskauga copper-gold project
CATEGORY
| TONNAGE (MT)
| CU %
| AU G/T
| AG G/T
| AU (MOZ)
| CU (KT)
| AG (MOZ)
| | | | Indicated
| 207
| 0.23
| 0.35
| 1.09
| 2.33
| 476.1
| 7.25
| | Inferred
| 147
| 0.15
| 0.33
| 1.02
| 1.56
| 220.5
| 4.82
| |
For a full summary of the Beskauga resource please refer to Silver Bull’s press release dated January 28, 2021 and filed on its profile at www.SEDAR.com, or by visiting the following link:
silverbullresources.com
Sierra Mojada deposit, Mexico: Sierra Mojada is an open pittable oxide deposit with a NI 43-101 compliant Measured and Indicated “global” Mineral Resource of 70.4 million tonnes grading 3.4% zinc and 38.6 g/t silver for 5.35 billion pounds of contained zinc and 87.4 million ounces of contained silver. Included within the “global” Mineral Resource is a Measured and Indicated “high grade zinc zone” of 13.5 million tonnes with an average grade of 11.2% zinc at a 6% cutoff, for 3.336 billion pounds of contained zinc, and a Measured and Indicated “high grade silver zone” of 15.2 million tonnes with an average grade of 114.9 g/t silver at a 50 g/t cutoff for 56.3 million contained ounces of silver. Mineralization remains open in the east, west, and northerly directions.
The constraining pit was optimised and calculated using a NSR cut-off based on a silver price of US$15/oz, and a zinc price of US$1.20/lb and assumed a recovery for silver of 75% and a recovery for zinc of 41%. Approximately 60% of the current 3.2 kilometer mineralized body is at or near surface before dipping at around 6 degrees to the east.
CATEGORY
| TONNES (MT)
| AG (G/T)
| CU (%)
| PB (%)
| ZN (%)
| AG
(MOZS)
| CU
(MLBS)
| PB
(MLBS)
| ZN
(MLBS)
| MEASURED
| 52.0
| 39.2
| 0.04%
| 0.3%
| 4.0%
| 65.5
| 45.9
| 379.1
| 4,589.3
| INDICATED
| 18.4
| 37.0
| 0.03%
| 0.2%
| 1. 9%
| 21.9
| 10.8
| 87.0
| 764.6
| TOTAL M&I
| 70.4
| 38.6
| 0.04%
| 0.3%
| 3.4%
| 87.4
| 56.8
| 466.1
| 5,353.9
| INFERRED
| 0.1
| 8.8
| 0.02%
| 0.2%
| 6.4%
| 0.02
| 0.04
| 0.4
| 10.7
|
For a full summary of the Sierra Mojada resource, please refer to Silver Bull’s press release dated October 31, 2018 and filed on its profile at www.SEDAR.com, or by visiting the following link:
silverbullresources.com
The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officerand Director
INVESTOR RELATIONS:
+1 604 687 5800 info@silverbullresources.com
silverbullresources.com |
