2002 Report
The Silver Bell Mine is located approximately 25 miles southeast of Salt Lake
City in the Wasatch Mountains at an elevation of 10,200 feet. The deposit was
discovered in 1871 and shipped ore averaging over 100 ounces per ton silver. Recent
work uncovered ore in the mine that assays as high as 120 opt Ag. The most favorable
horizon for mineralization (the middle limestone member of the Cambrian Ophir
Shale) underlies the present working which should increase the resource significantly.
The mineralization is contained within a steeply dipping northeasterly striking
fissure-vein and flat lying mantos associated with the vein, consisting of high-grade
silver with lead, zinc and copper. The Silver Bell is an underground mine with
every face in mineable ore. The oxide portion of the deposit averages 20 opt Ag
and 4.5% Pb. The sulfide portion of the deposit averages 35 opt Ag, 5% Pb, 12%
Zn, and 3.5% Cu. The vein strikes to the northeast and can be traced for over
2,000 feet. The workings have exposed the mineralization for over 350 feet of
dip and 475 feet along strike in all averaging 5 feet in width. Several mantos
have been uncovered in the workings which will add to the overall potential of
the mine. The resource is estimated to contain over 450,000 tons based on strike
and dip projections. These estimates have been confirmed by several independent
engineering firms. Two reports written by Watts, Griffis, McQuat, commented favorably
on the potential of the property. Two thousand (2000) tons of this ore have been
stockpiled by past producers.
| Silver
Bell Estimated Resources
|
| Area |
Tonnage |
Au
opt / oz |
Ag
opt / oz |
Pb%
/ st |
Zn%
/ st |
Cu%
/st |
| Silver
Bell
Vein projection
dip and strike |
450,000 |
.018
/ 8,100 |
35
/ 15,750,000 |
5%
/ 22,500 |
12%
/ 54,000 |
3.5%/15,350 |
| Est.
Value 03/2002 |
|
$2,349,000 |
$70,875,000 |
$11,250,000 |
$37,800,000 |
$21,490,000 |
| Total
Estimated Value
$143,760,000 |
|
