Silver Mines Ltd (ASX:SVL) snapped up the Bowdens Silver Project last year from Kingsgate, with the New South Wales based project the largest undeveloped silver deposit in Australia.
Bowdens has received circa 90,000 metres of drilling with the project having had $70 million spent on it.
The project hosts a 275 million ounce silver equivalent resource, with a high-grade core.
Silver Mines is now heading to market with a capital raising, and the ASX has granted a trading halt to prepare.
The halt will remain in place until the opening of trade on Thursday 28th September 2017, or earlier if an announcement is made to the market.