Silver Bullet Mines Uncovers High-Grade Silver-Gold Zone at KT Mine in Arizona

The latest announcement is out from Silver Bullet Mines Corp ( (TSE:SBMI) ).

Silver Bullet Mines has identified a new potential high-grade silver-gold zone at its KT Mine in Arizona, where initial in-house assays from 12 samples returned between seven and twenty-seven ounces per ton silver, contrasting with the main KT vein that is primarily gold-rich with silver. The company has traced the newly exposed vein for more than 200 feet at surface, is excavating along strike, and has removed a 200-ton bulk sample for processing at its nearby mill, where concentrate from this zone is expected to be sold to the same buyer that is already receiving KT Mine concentrate. Processing of material from the main KT zone is ongoing, with four concentrate shipments already completed and a fifth imminent, and the company expects higher head grades as underground mining begins; meanwhile, SBMI is awaiting assay results and payment for its first concentrate shipment and is assessing strong fall development results from its Washington Mine in Idaho. The recent exercise of more than 6.6 million warrants at strike prices of $0.16 and $0.17 has bolstered the company’s working capital, supporting continued development, processing expansion and the advancement of new discoveries within its hub-and-spoke operating model.

The most recent analyst rating on (TSE:SBMI) stock is a Hold with a C$0.27 price target. To see the full list of analyst forecasts on Silver Bullet Mines Corp stock, see the TSE:SBMI Stock Forecast page.

Spark’s Take on TSE:SBMI Stock

According to Spark, TipRanks’ AI Analyst, TSE:SBMI is a Neutral.

The score is held back primarily by very weak financial performance (no revenue, ongoing losses, and sustained cash burn) and only modest balance-sheet flexibility. Offsetting this, technicals show a mildly improving trend and corporate updates are notably positive with shipments and a direct-ship deal that could support future revenue generation.

To see Spark’s full report on TSE:SBMI stock, click here.

More about Silver Bullet Mines Corp

Silver Bullet Mines Corp. is a Canadian-based mining company focused on the exploration, development and production of silver and gold, operating a hub-and-spoke model in the U.S. Southwest with its own mill and assay facility near Globe, Arizona. The company’s strategy centers on rapidly advancing multiple nearby deposits, including the KT Mine in Arizona and the Washington Mine in Idaho, to supply growing demand for precious metals through in-house processing and concentrate sales to established buyers.

Average Trading Volume: 201,237

Technical Sentiment Signal: Buy

Current Market Cap: C$34.14M

See more insights into SBMI stock on TipRanks’ Stock Analysis page.