http://blackmountainresources.com.au/




Black Mountain Resources Limited is a silver focused company which has a 70 per cent interest in three highly prospective projects with extensive historic resources (non-JORC) and significant exploration upside potential. All three projects host previously operating mines and are located in two of the world’s most developed and proven silver mining regions of Idaho and Montana, USA.

The Company is targeting first production in Q4 2012 and implementing low cost development and exploration programmes across its projects

Black Mountain Resources identifies high grade silver at Bonanza
Fri 31 May 2013


Black Mountain Resources identifies high grade silver at Bonanza LONDON (SHARECAST) - Black Mountain Resources, the AIM-listed silver-focused development company with interests in the US, has reported that high grade silver of up to 1,684 grams per tonne (g/t) has been returned from samples at the
Bonanza Drive at the company's New Departure Silver Project located in Montana,US.

The company said that the initial grab samples were taken from the historic stopes and existing pillars as well as the face of the Silver Springs drift in the Bonanza Zone.

In addition to high silver grades, the company said that the assay results represented an outstanding positive as an initial step in confirming both the extensive historic data available from previous workings and extensions to the historic mineralisation.

A daily production sampling program is currently underway as the company
continues to develop the existing workings and the Bonanza Drive as part of its ongoing mining activities to access previously identified mineralisation areas in the Bonanza Zone.

Further samples taken from visually identified veins in a side drift out of the main structure near the Silver Springs tunnel area returned results of up to 93.4g/t of silver and 5.45g/t of gold, the group added.

Pete Landau, Chairman of Black Mountain, commented: "These are exceptional assay results which underpin the high grade silver credentials and the extensive historic data available for the New Departure Silver Project. We are now ideally positioned to finalise toll treatment arrangements with nearby mills and we look forward to updating shareholders in the coming weeks as we hit these exciting pre-production milestones."

Black Mountain Resources’ share price was up 1.28% to 9.88p at 12:36 on Friday

Black Mountain Resources: Westhouse Securities shifts target price from 23p to 17p, while its buy recommendation remains unaltered.

Bouncing back.