BUILDING A MODERN, USA SILVER FOCUSED COMPANY
We are building a modern, USA silver focused company, with the world class historical Bunker Hill mine as our cornerstone asset. Led by a new experienced management team comprised of former executives from Barrick, and with a new ESG-focused vision, we have a clear strategy to deliver value for our shareholders: targeting a rapid, low cost production re-start while unlocking the mine’s significant silver potential.
Production at the historical Bunker Hill Mine began in 1885 and ran for over 95 years. It was a lead metal mine with silver and zinc produced as a by-product. It produced over 42M tons yielding more than 165M ounces of silver, 3.6M tons of lead and 1.4M tons of zinc. During its long history, over 40 separate mineralized zones were exploited. Of these 14, were high grade silver ore bodies. The amount of silver historically produced now represents a significant potential at Bunker Hill and across the Coeur d’Alene Mining District. The renamed “Silver Valley” has emerged as one of the world’s largest silver mining districts with several mines re-started over recent years. The district has yielded a historic silver production of over 1.2 billion ounces, with the Bunker Hill Mine accounting for nearly 15% of the silver production.
We completed a digitization and geologic modelling program in 2020 to leverage the historical mine data collected over a period of 95 years to identify and prioritize high grade silver targets. Data has been inputted from over 90% of 3,500 historic drill-holes and hundreds of detailed hand-drawn geologic maps to create this 3D geologic model which has greatly accelerated our understanding of the deposit and its untapped high grade silver potential. Enabled by our digitization and 3D modelling we then commenced high grade silver drilling in September 2020, with first drill results from the ongoing drill program already confirming high grade mineralization.
Our strategy is centered on rapidly restarting mining operations. We believe that this can be achieved for minimal capital by focusing on the de-watered upper areas of the mine, utilizing existing infrastructure, and based on truck haulage and toll milling methods. The prompt restart would allow self-funding for our ongoing high-grade silver exploration and immediately crystalize the value created through exploration. A PEA, to assess the potential to quickly restart production, is on track for publication in early Q2-2021.