Silver Bull Resources, Inc. (TSX: T.SVB, Stock Forum) said it has completed the third batch of 6 holes from the underground drill program twinning a series of "long holes" on the Sierra Mojada project in Northern Mexico.
The flag ship Sierra Mojada project, located 150 kilometers north of the city of Torreon in Coahuila, is highly prospective for silver and zinc.
According to the press release, highlights from the third batch of 6 holes included intercepts of 23.85 metres grading 193.6 grams per tonne silver, 50.35 metres grading 170.4 grams per tonne silver and 16.70 metres grading 162 grams per tonne silver.
Silver Bull's 3,000 meter drill program is ongoing with 2 underground "Termite" rigs twinning a series of long holes with up to 50 meter long BQ sized diamond core drill holes.
The main target area is a high grade silver zone hosted along a series of "stacked" east-west trending structures with a combined traceable strike of approximately 3 kilometers at the eastern end of the Shallow Silver Zone.
The purpose of the program is to increase confidence in a historical long-hole data set which defines the high-grade zone and represents just less than 38,000 meters of drilling which was either severally restricted or discarded in Silver Bull's latest NI43-101 resource report on the Shallow Silver Zone dated July 5, 2012.
Silver Bull is a mineral exploration company based out of Vancouver, Canada.
On Thursday, Silver Bull was trading at $0.48 a share. The company has a market cap of $65.4 million, based on 136.1 million shares outstanding. The 52-week high and low was $0.75 and $0.41 respectively.