BP Silver – First Assays From Phase 2 Drilling Return The Best Results To Date

Summary

BP Silver's first Phase 2 assays at Bolivia's Cosuno project delivered 1,328.8 g/t silver equivalent over 3 metres — the best hole yet.

Bismuth and antimony carry about three-quarters of that silver-equivalent grade, critical-metal credits most investors overlook.

The CEO argues bismuth beside silver flags a high-temperature feeder, the conduit that can grow into a major vein system at depth.

Holes 8, 9 and 13 sit within a 450-metre step-out, and the next test is undercutting all three from below.

About $8.5 million in the treasury covers the full 8,000-metre programme, though weather delayed the drone magnetic survey and Phase 3 targeting.

Tim Shearcroft's takeaways

Top takeaway He argues bismuth appearing alongside silver marks a high-temperature feeder beneath the Poconita Chica lithocap, the structure he wants to follow down-dip toward a vein system like Pula Kayo 10 km south, which he says accounts for 640 million ounces of silver and whose mineralisation below the lithocap started around 4,000 m.

He contends most investors and shareholders do not realise the value of bismuth and antimony, noting they together carry roughly three-quarters of the silver-equivalent grade in Hole 13, while the silver alone at 314 g/t is close to 10 oz/t.

His thesis is that feeder structures gain grade and size with depth, and that undercutting holes 8, 9 and 13 to show continuity and geometry should come before committing to deeper drilling; he would consider another step-out if that holds.

He treats the treasury as sufficient to fund the 8,000 metres across phases two and three with several million left, and says the board and shareholders would support adding metres if results of this quality continue.

He expects a steady flow of news rather than one catalyst: three or four assays in the next few weeks, more holes from the current batch, and he is holding back the deeper 500-700 m targets until the IP and MAG data are in.