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Gold/Mining/Energy : Silver Bull Resources, Inc.
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From: zink9/26/2014 10:38:55 AM
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Silver Bull Resources provides corporate update on the Sierra Mojada project and outlines a shift in the company's focus to the significant zinc potential at Sierra Mojada ( SVBL) : With a 28% rise in the zinc price over the last 12 months and the strong long term outlook for the metal co now believes the time is right to re-examine the potential of the high grade zinc oxide mineralization. The extent and grade of the zinc oxide mineralization seen at Sierra Mojada, coupled with already existing infrastructure which includes a functioning railway 300 meters from the project, suggests the zinc could be modeled as a standalone mine. In addition to providing tremendous optionality, the company receives very little valuation for the zinc, and this work will go a long way to better defining its value to the market. Co remains extremely positive on the silver ore body defined at Sierra Mojada. Using an $18 silver and $0.95 zinc price, the PEA we released late last year still shows a very positive after-tax NPV5% of $226 million with an after tax IRR of 14.1% and shows how robust the project is even in a volatile price environment. The indicated resource of 163 million ounces of silver (71.2 million tonnes at an average grade of 71.4 g/t silver) defined thus far is one of the largest undeveloped silver resources in Mexico and sampling by the company immediately adjacent to the defined ore body shows this resource remains open in north, east and western directions.
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