Silver Mines Limited (ASX:SVL) has commissioned a Scoping Study and associated mineral resources assessment for potential underground mining scenarios at the Bowdens Silver Project, near Mudgee in New South Wales.
The move follows ongoing drilling success at the project, with the latest assays including 4 metres at 890 g/t silver from 311 metres and 2 metres at 1,825 g/t from 313 metres.
H&S Consultants, which estimated the current JORC mineral resource for the Bowdens Silver Project, have been engaged to advise and undertake an assessment of high-grade silver drilling results to complete a mineral resource.
This estimate will focus on mineralisation outside of the current open-pit ore reserve and will include the Northwest High-Grade Zone, the Aegean Zone and the Bundarra Zone.
The scoping study will begin immediately and is set to complete subject to final results of the drilling program and the mineral resource assessment, which are scheduled to be completed later in the 2021 calendar year.
Reporting of drilling results will continue until at least the end of the 2021 calendar year with four rigs operational on site.
“Substantial moment”
Silver Mines managing director Anthony McClure said: “This is a substantial moment in the evolution of the Bowdens Silver Project.
“Drilling in three zones directly beneath our open-pit ore reserves has shown considerable high-grade silver success and over substantial widths.
“This success allows us to move rapidly to commence a preliminary Mineral Resource assessment along with a Scoping Study for potential underground development scenarios.
“The program will not affect our current late-stage approval processes for the Bowdens Silver open-pit development.”
Silver Mine's mineral resource assessment and scoping study will be complete post the drilling phase, likely in the March quarter of 2022.
Looking ahead
The scoping study will consider potential underground mining scenarios beneath the planned open-pit development currently undergoing final processes for mine approvals.
A concept will be decided for a planned underground development to begin operations in around years three to four of the open-pit development to supplement plant feed with high-grade material at a rate of up to 500,000 tonnes per year
An alternative would be for an underground development at the end of the open-pit mine life.
The 30,000-metre drilling program, the resource assessment and scoping study will not have any effects on the ongoing approval process for the Bowdens Silver open-pit development currently before the New South Wales Department of Planning, Industry and Environment.