Silver Mines Limited (ASX:SVL) continues to define new mineralisation with resource drilling at the Bowdens Silver Project, extending the Bundarra Zone with quartz sulphide vein-style mineralisation at depth and intersecting the first significant copper hits from Bowdens.
The three drill holes assayed included returns of:
BD21042:
- 2.4 metres at 1,520 g/t silver equivalent (269 g/t silver, 15.80% zinc, 10.33% lead, 0.78% copper and 0.42 g/t gold) from 297.3 metres, including 1-metre at 2,282 g/t silver equivalent (398 g/t silver, 22.90% zinc, 16.80% lead, 1.06% copper and 0.82 g/t gold) from 298 metres; and
- 1.5 metres at 869 g/t silver equivalent (98 g/t silver, 14.49% zinc, 0.20% lead, 0.30% copper & 0.14 g/t gold) from 327.1 metres.
BD21039:
- 4.6 metres at 338 g/t silver equivalent (24 g/t silver, 3.67% zinc, 1.47% lead and 0.98 g/t gold) from 406 metres; and
- 8.1 metres at 193 g/t silver equivalent (18 g/t silver, 1.82% zinc, 1.45% lead and 0.41 g/t gold) from 416.9 metres.
BD21038:
- 1-metre at 740 g/t silver equivalent (343 g/t silver, 5.29% zinc and 3.74% lead) from 107 metres; and
- 6 metres at 244 g/t silver equivalent (26 g/t silver, 2.43% zinc, 2.50% lead and 0.12 g/t gold) from 374 metres, including 1-metre at 478 g/t silver equivalent (59 g/t silver, 3.78% zinc, 6.0% lead and 0.38 g/t gold).
Underground scoping study
The company has four drill rigs spinning on site, continuing a 30,000-metre diamond drilling program.
Silver Mines has been targeting high-grade veins and feeder zones outside of the current open pit ore reserve in the north, central and southern parts of the Bowdens Silver Deposit.
Results from this drilling will form the basis for a mineral resource estimate as part of a scoping study assessing the viability of underground mining scenarios.
The program of drilling was extended into 2022 to leverage the outstanding new results and extensions from the Bundarra Zone.
The scoping study is now advanced and is expected complete in the first half 2022, following the completion of resource drilling.
About Silver Mines
Silver Mines’ strategy is to develop silver deposits in New South Wales and become Australia’s pre-eminent pure silver company, focused on the development stage Bowdens Project.
In March 2021, the company submitted a Mining Lease Application (MLA) for the development of Bowdens in Central West NSW, east of the town of Mudgee.
The project boasts an open-cut mine feeding a new processing plant with a conventional milling circuit and differential flotation to produce two concentrates that will be sold for smelting off site.