Shafter Rock Chips Hit 3,100g/t Silver, Reveal Zinc and Lead Potential

Exceptional Surface Sampling Results

Black Bear Minerals Limited (ASX – BKB) has announced outstanding assay results from reconnaissance rock chip sampling at its 100%-owned Shafter Silver Project in Presidio County, Texas. The highlight is a remarkable 3,100 grams per tonne (g/t) silver sample, found outside the existing 17.6 million ounce foreign mineral resource estimate. Alongside silver, significant grades of zinc (up to 4.5%) and lead (up to 6%) were also recorded, confirming the polymetallic nature of the mineralisation.

These surface samples, collected from the Mina Grande Formation, reveal high-grade silver mineralisation extending at least 370 metres along strike both north and south of the historic Presidio Mine area, with the mineralisation remaining open in both directions. This discovery suggests substantial potential to expand the known resource and supports the prospect of near-surface, open-pit mining opportunities.

Multi-Commodity Potential and Strategic Importance

Historically, the Shafter Project was evaluated primarily for silver, but the recent sampling results demonstrate significant multi-commodity potential, with several samples exceeding 1% zinc and lead, and anomalous gold grades above 0.3 g/t. This polymetallic profile could enhance the economic viability of the project if further exploration confirms these findings.

Silver’s designation as a critical mineral by the United States government adds a strategic dimension to the Shafter Project. The US is heavily reliant on imports for silver, which is increasingly vital for industrial applications in defense, semiconductors, and energy sectors. Black Bear’s Shafter asset thus holds considerable importance as a potential domestic supply source amid global supply constraints and growing demand.

Exploration Plans and Funding

Black Bear Minerals is well-positioned financially following a recent A$30 million capital raising, enabling an aggressive exploration program aimed at expanding the Shafter Mineral Resource. Planned activities include further rock chip sampling along the Mina Grande Formation, systematic sampling of historic mine workings to quantify remaining high-grade material, and re-analysis of historic drill core to assess polymetallic potential.

The company also intends to investigate the overlying Cretaceous sediments for epithermal-style mineralisation, which could represent additional shallow targets. A detailed drilling program is being finalised, with market updates expected in the coming weeks.

Broader Portfolio and Market Context

Alongside Shafter, Black Bear continues to advance its Independence Gold Project in Nevada, where drilling has exceeded initial plans and is progressing well. The company’s diversified portfolio also includes significant lithium exploration assets in Quebec, positioning it across multiple critical minerals.

Given the evolving market dynamics for silver and other strategic metals, Black Bear Minerals’ recent findings at Shafter underscore the potential for substantial growth and value creation, particularly as the US seeks to bolster domestic critical mineral supplies.