|Bay Silver Property|
The Bay Silver property is located on Bear River ridge, a few kilometers north of Stewart, BC. It controls the old United Empire mine from which limited production of high-grade silver was seen in the 1930’s. Ore from the mine was shipped to the valley floor below by way of a tramline, portions of which still remain on the property.
The property contains numerous silver-rich showings some of them developed by hundreds of feet of tunnels. In the 1980’s, Bayview Resources shipped 10.8 tons grading 211 oz silver per ton (equivalent to five ounces of gold per ton at today’s prices).
It is owned jointly by Teuton and SilverGrail Resources Ltd. Recently the two companies optioned the Bayview Silver to Decade Resources. Under the terms of the deal , Decade will pay $120,000 over four years to earn a 100% interest. Teuton and Silver Grail retain a net smelter royalty of 2%, of which an advance royalty of $50,000 per year, indexed to inflation, is also payable beginning in 2016.