Silver Trends and the Buckeye Silver Mine in Arizona
In a recent InvestorIntel interview, Peter Clausi, VP Capital Markets and Director at Silver Bullet Mines Corp. (TSXV: SBMI | OTCQB: SBMCF), discussed their recent business developments and production updates at the Buckeye Silver Mine, along with general silver market trends.
Clausi mentioned an extension of a silver purchase contract due to international shipping complexities. The mill in Arizona is currently running efficiently on one shift, with plans to add another once the crew becomes familiar with operations. Recent processing hinted at possible gold material, yet to be assayed. Dore bars containing silver, gold, copper, nickel, and other metals have been prepared for transportation to Europe for assay and sale. At the Buckeye Silver Mine, progress is being made in intercepting a higher mineralized zone.
When questioned about the cooled-off interest in silver compared to six months prior, Clausi expressed optimism about its future, citing demand-supply dynamics. He emphasized the excess of paper silver versus limited physical silver, predicting an upward price trend.
In summary, Silver Bullet Mines Corp. aims to overcome logistical challenges and navigate the fluctuating silver market, with a focus on improving production and exploring new mining projects.
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About Silver Bullet Mines Corp.
Silver Bullet Mines Corp. is a silver and copper exploration and development company with projects in the western USA. Their flagship project is the Black Diamond, close to 5,000 acres in the Miami-Globe copper camp and centered on the Richmond Basin. The basin is the site of the original 1870s native silver discoveries that brought prospectors to the now significant Globe copper camp. The story goes that a scouting party was fired upon by Apache Indians using bullets made of hammered native silver. Thus inspiring the company name – Silver Bullet Mines. The Richmond Basin is the location of several historic high grade silver-copper mines including: McMorris, La Plata, Helena, Silver Sevens, Buckeye and numerous associated prospects. Little work or extraction came from this area since the early 20th century as the camp focused on big copper mines. But these mine anchor this section of what is called the Arizona Silver Belt that extends from the famous Silver King near Superior, AZ and parallels the trend of the major copper deposits including the Magma mine. They believe the high grade silver is still there waiting for discovery.
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