December 15, 2011
Silver Bull Hires Team to Lead Metallurgical Program on the Sierra Mojada Project, Coahuila, Mexico
VANCOUVER, British Columbia, Dec. 15, 2011 /PRNewswire/ — Silver Bull Resources, Inc. (TSX: SVB, NYSE Amex: SVBL) (“Silver Bull”) is pleased to announce it has brought on Dr. Chris Fleming Ph.D from SGS Canada Inc. (“SGS”), and Independent Consultant George Rawsthorne P.Eng. to lead the metallurgical program on the “Shallow Silver Zone” at Silver Bull’s Sierra Mojada project in Coahuila, Mexico.
Dr. Chris Fleming is a specialist in hydrometallurgy and gold and silver processing and has over 37 years of extractive metallurgical experience. He has previously held roles as the General Manager and Chief Operating Officer with Lakefield Research (“Lakefield”), and Vice President, Global Metallurgy with SGS and currently works as a senior metallurgical consultant for SGS. He has authored or co-authored 74 technical publications on various aspects of extractive metallurgy and has received numerous industry awards including most recently the Canadian Institute of Mining, Metallurgy and Petroleum “Mineral Processor of the Year 2010,” and the Futer Gold Medal from the institute of Materials, Minerals, and Mining in London for “Outstanding service to the international minerals industry.” Dr Fleming received his Ph.D in chemistry from the University ofCape Town in South Africa and will work closely with the Silver Bull team to refine the metallurgical testing program.
George Rawsthorne has over 40 years of experience in the mining and metallurgical / process industry including management roles in operations, project studies and construction, as well as plant commissioning and optimization. As a direct employee or as a consultant he has been involved with numerous projects encompassing commodities which include copper, molybdenum, lead, zinc, silver, gold, tungsten and uranium. Roles he has previously held include mill manager, lead process engineer, and lead metallurgist, as well as also working as an independent consultant to review mining operations for companies and banks. Companies he has previously been associated with include; (Cominco) Teck Corporation, Rabbit Lake Uranium, Placer Development’s Gibraltar Mine, Mount Pleasant Tungsten Mine and Dome Mine’s Detour Lake Mine as well as numerous junior and mid-tier mining and exploration companies. Mr. Rawsthorne has a strong history of success in the design and development of metallurgical flow sheets, plant startup, commissioning and optimization, as well as optimizing existing processing plants in an operating environment. In consultation with mining engineer Allan Reeves from JDS Engineering and Dr. Chris Fleming, Mr. Rawsthorne will lead the metallurgical program at Sierra Mojada. Mr. Rawsthorne received his B.Sc. in Chemical Engineering from Queens University in Ontario, and is a member of the Association of Professional Engineers and Geoscientists of British Columbia, Canada.
Tim Barry, President, CEO and director of Silver Bull states, “We are extremely pleased to have people with the experience of Dr. Fleming and Mr. Rawsthorne working on the metallurgy of the ‘Shallow Silver Zone’ at Sierra Mojada. Preliminary work published in our recently filed NI43-101 update suggests the silver zone is amenable to cyanide leaching and the program to find a suitable metallurgical process to extract the silver on a large scale basis is one of our main priorities for 2012.”
About the Shallow Silver Zone; The “Shallow Silver Zone” is an oxide silver deposit (+/- zinc & lead), hosted along an east-west trending fracture-karst system set in a cretaceous limestone-dolomite sequence. The mineralized body averages between 30m – 90m thick, up to 200m wide and remains open in the east, west, south and northerly directions. Approximately 60% of the current 3.2 kilometer strike length is at or near surface before dipping at around 10 degrees to the east.
About the Silver Bull; Silver Bull is a US-registered mineral exploration company listed on both the NYSE Amex and TSX stock exchanges and based out of Vancouver, Canada. The flag ship “Sierra Mojada” project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico and is highly prospective for silver and zinc. Silver Bull also owns three mineral exploration licenses in Gabon, Africa, two of which are currently under joint venture with AngloGold Ashanti. These licenses are prospective for gold, manganese, and iron ore.
The technical information of this news release has been reviewed and approved by Tim Barry, MAusIMM, a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board of Directors
Tim Barry, MAusIMM
Chief Executive Officer, President and Director
Cautionary note regarding forward looking statements
This news release contains forward-looking statements regarding future events and Silver Bull’s future results that are subject to the safe harbours created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”) and are “forward-looking information” under Canadian securities laws. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull’s exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull’s management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Silver Bull’s exploration activities, the formulation of a program to extract minerals at the Sierra Mojada Project and future financial performance, Silver Bull’s anticipated growth and potential in its business and other characterizations of future events or circumstances are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, including such factors as the volatility and level of commodity prices, currency exchange rate fluctuations, uncertainties in cash flow, expected acquisition benefits, exploration mining and operating risks, competition, litigation, environmental matters, the potential impact of government regulations, and other matters discussed under the caption “Risk Factors” in our Annual Report on Form 10-K/A for the fiscal year ended October 31, 2010 and subsequent periodic reports, many of which are beyond our control. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements.
SOURCE Silver Bull Resources, Inc.