Silver Mines (ASX: SVL) has extended the depth potential of the Webbs South silver deposit in New South Wales with the first two diamond holes intersecting Webbs style alteration and mineralisation.
“It’s very pleasing to see that our first two holes have intersected lode style alteration and mineralisation where we expected it at depth,” chief executive officer Charles Straw said.
“More importantly the intersection in RCD273 has significantly extended the depth of the lode structure by approximately 180 vertical metres at Webbs South.
“Drilling will continue to target depth extensions to the existing high grade resource and we expect to continue to report positive results over the coming weeks.”
Drillcore is being processed and assay results will be reported when available.
Quartz-sericite as well as carbonate and chlorite alteration was observed at RCD273 in association with fracturing and local breccia development.
These zones commonly contain quartz and carbonate veins and local disseminations, ‘splashes’ and rare veinlets of sulphide minerals comprised of pyrite, sphalerite, galena, chalcopyrite and arsenopyrite.
The mineralised zones are positioned in such a way so as to strongly support the interpreted down dip projection of the Webbs lode structure.
RCD273 also represents the deepest intersection of alteration and mineralisation at Webbs South having basically bottomed in altered material at 360 metre below surface.
Strong quartz-sericite-carbonate alteration was observed from 198 metres downhole at RCD275, which is continuing and remains in this altered lode zone at 212 metres.
The altered zone is fractured and contains local brecciated sections, which are commonly filled with sulphide minerals comprised of sphalerite, galena, chalcopyrite and arsenopyrite.
The sulphides are also disseminated through the mineralised zone, which is typical of the Webbs system.
Interpretation suggests that the lode is widening with depth, a common observation on other sections at Webbs South.
Silver Mines is continuing diamond drilling with several more ‘tails’ planned from the base of existing reverse circulation pre-collars.
Reverse circulation drilling has also recommenced with an additional 3,800 metres planned.
Some of these holes are also likely to require diamond tails to achieve target depth. All holes will continue to target down dip/down plunge extensions to the existing resource.
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