Bowdens is the largest undeveloped silver deposit in Australia, and one of the largest globally, with a resource of 134 million silver ounces.
Silver Mines now owns 100% of Bowdens Silver after making the final $4 million payment of the total $25 million purchase price, plus interest of $92,000.
The project is located in central New South Wales, about 26 kilometres east of Mudgee, comprising 408,000 acres of titles.
Bowdens project covers about 80 kilometres strike of the highly mineralised Rylstone Volcanics.
There are multiple target styles and mineral occurrences with significant potential throughout the project area.
These include high-grade silver-lead-zinc epithermal and volcanogenic massive sulphide (VMS) systems and copper-gold targets.
An extensive 38,000 metre drill program is currently underway at Bowdens.
The limited results received to date already contains high-grade results, including 124 metres at 85 g/t silver, 0.19% zinc and 0.20% lead (95 g/t silver equivalent) from 118 metres.
The completion of the acquisition of Bowdens Silver is expected to allow greater flexibility for Silver Mines to develop and finance the project.