BKB hits silver (and base metals) from its project in Texas, USA

Our 2025 Small Cap Pick of the Year Black Bear Minerals (ASX: BKB | OTC: BKBMF) just hit more silver from its project in Texas, USA.

BKB hit silver (and base metals) from outside of the current known resource area.

BKB’s project has an existing Foreign Mineral Resource Estimate of 17.6Moz at 289 g/t silver - which BKB is looking to convert to JORC status with drilling.

(as well as looking for extensions to grow the resource)

The project has ~$150M+ of silver mining and processing infrastructure that was last producing silver in 2012-2013 before going into care and maintenance because silver prices fell to ~US$18 per ounce.

Silver is now ~4.6x higher at ~US$83 and BKB has already engaged engineering firm Ausenco to deliver a “rapid restart” of this silver mine.

(we think the silver price is still going to run to new highs this year after some recent much needed consolidation at its historically record levels)

(but also - we might be wrong and past performance is not an indicator of future performance)

One of the results from today’s drilling returned a 9.1m with silver grades averaging 240 g/t (aswell as 1.1% lead, 1.8% Zinc & 0.1 g/t gold).

That hit was from outside of BKB’s existing foreign resource:

(source)

Here is where it sits from a birds eyeview:

(source)

BKB noted that only the assays for the section near the mineralisation were received today, so we await the remaining section of the assays to see if there is any mineralisation closer to the surface.

BKB currently has its phase 1 diamond drilling program underway (11 holes for ~2,250m) and with this is targeting high-priority extensions outside the existing resource.

Today’s results also included some base metals off to the west at depth, although these weren’t over long intervals or high grade, they could be followed up in future drilling.

The 3 holes drilled to the southwest received today were targeting base metals, so it isnt a surprise to see minimal gold/silver from these.

BKB has an aggressive plan here to get back producing in the nearer term through a “rapid Restart” plan and recently confirmed that all required permits are already in place.

We covered that update recently, when BKB confirmed they have already began a restart study with engineering firm Ausenco : BKB: The next silver producer in the USA?

What do we want to see next from BKB?

Over the next 3-6 months we will be tracking the following two catalysts:

🔄Gold drilling in Nevada

BKB has just completed drilling at Rebel peak and taken a temporary winter break, but will be back drilling on the project soon.

BKB had been drilling targets right up to the border of its tenement boundary.

We think strong results from this round of drilling could be material for BKB mainly because it's where the highest grade rock chips have been sampled for the project and because it would be shallow, near surface mineralisation.

The results received today will be used to plan further drilling, with an updated MRE due in Q2 (source).

(source)

🔄 Silver drilling in Texas

BKB also owns 100% an advanced high grade silver asset in Texas, USA. See our most recent note on that asset BKB: Engineering company appointed for “rapid restart” of USA silver mine study as silver rapidly rises to record US$93/oz overnight.

BKB is drilling this project right now, with the initial results received today. (source)

It will also be the first time the project’s ever been assayed for anything other than silver.

Surprise high grade hits or multi-element assays could be a catalyst for BKB’s share price.

(source)