Saturn Minerals to Drill New Well at Its Bannock Creek, Saskatchewan, Light Oil Prospect
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/10/15 -- Bayhorse Silver Inc. (TSX VENTURE: BHS) (the "Company" or "Bayhorse") advises that Saturn Minerals Inc ("Saturn") has reported it is completing plans to drill a second oil exploration well on its Bannock Creek light oil and gas prospect.
Saturn reports that after a technical review of the first well drilled, it will case most of the length of the second well to minimize issues while drilling.
Saturn has reported its target, at an approximate depth of 1,000 meters, is a closed fault bounded roll over structure of 480 acres minimum in area and has the potential to contain up to 38 million barrels in place of resource from all three targeted reservoirs, that compares very favorably with existing producing light oil pools to the south of both Bannock Creek.
Bayhorse is farming in with Saturn on the adjacent Little Swan light oil prospect. Together, the Bannock Creek and Little Swan prospects cover approximately 650 square miles.
Bayhorse Silver Inc. is a junior exploration company that has entered into a Farm-In Agreement with Saturn Minerals to acquire a 25% interest in the Little Swan oil project, and is earning an 80% interest in the historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. It has a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Red Queen), in the highly prolific West Coast South Island gold fields of New Zealand, which offers investors the potential for a major gold discovery.
The Company retains a 30% Net Profit Interest in the Flagstaff barite mine in Washington State. The Company has an experienced management and technical team with extensive exploration expertise. This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.
On Behalf of the Board
Graeme O''Neill, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bayhorse Silver Inc.
604.684.3394
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Datum: 10.06.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 1365022
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