Silver Mines (ASX:SVL) has again hit high grade silver at its Webbs Project in the New England region of northern New South Wales, with the latest and final results returning impressive grades of near surface, silver rich polymetallic mineralisation including 4 metres at 2095 grams per tonne (g/t) from reverse circulation drilling.
Drilling, which began in June this year, has covered more than 10,000 metres in 145 holes.
A selection of the better intersections from this last program include:
- 3 metres at 195g/t silver, 0.29% copper, 2.86% lead and 2.31% zinc from 17 metres;
- 2 metres at 320g/t silver, 0.21% copper, 2.07% lead and 2.46% zinc from 71 metres; and
- 5 metres at 182g/t silver, 0.25% copper, 1.35% lead and 1.45% zinc from 32 metres.
These latest results indicate the deeper intersections, of 10 metres at 327g/t silver and 13 metres at 731g/t silver, remain open at depth.
Webbs Silver Project has an inferred resource estimate of 1.23 million tonnes at 256g/t silver (8.2 ounces per tonne silver) for 10.19 million ounces of silver. The company is continuing to update this resource with the latest drilling results.
Meanwhile, diamond drilling is progressing well, with 13 holes completed for 1493 metres.
Most holes have intersected visually impressive mineralisation; however several holes did not achieve target depth.
Silver Mines is expecting to announce a significant resource upgrade before the end of this year.
Further reverse circulation drilling is planned and diamond drilling is ongoing.
There are three main prospects at Webbs Silver Project: Webbs Main, Webbs Adit, and Webbs South.