Silver Mines Ltd (ASX:SVL) has resumed exploration at its Barabolar Project, 10 kilometres northwest of the company’s Bowdens Silver Project in Central West New South Wales, with diamond drilling underway.
The diamond drilling is targeting the Mt Laut Pyrophyllite and Crossroad area which represent possible mineralised porphyry copper-gold targets.
Targets include geophysical anomalies (magnetics and gravity) as well as anomalous surface geochemistry of gold, copper, silver, zinc and lead in soil and rock chips.
Notably, the drilling represents the first modern exploration in the area for more than 27 years.
SVL expects to complete an initial program of 2,000 metres by the end of the September quarter at Barabolar, which is about 26 kilometres east of the town of Mudgee.
“Significant mineralised porphyry potential”
SVL managing director Anthony McClure said: “At the outset of COVID-19, we deferred work at Barabolar and focused on areas with our own freehold land in and around the Bowdens Silver Project.
“It is great news for the company to recommence drilling activities at the exciting Barabolar Project given its considerable anomalism on surface with significant mineralised porphyry potential.
“We currently have three diamond rigs continuing at Bowdens Silver and one at Barabolar.”
Drill targets
The Barabolar Project is a high-quality exploration project within the highly prospective Macquarie Arc that also hosts world-class mineral systems such as the Cadia-Ridgeway porphyry copper-gold deposit.
It consists of an extensive corridor of gold, copper, silver, zinc and lead soil and rock chip anomalies.
In 2019, the company completed a gravity survey to determine whether a clear intrusive signature exists within the Barabolar Project area.
The Crossroad target represents a potential intrusive source to alteration and mineralisation as the gravity data has identified numerous 'low' responses with the standout target being coincident with a magnetic high and potassium anomaly (radiometric data).
Machine Learning (ML) algorithms, applied to the company's extensive surface sample database and geophysical/remotely sensed datasets, have also identified areas within the Barabolar Project as being outliers geochemically within the broader tenement holding.
These areas are Cringle and Mt Laut through to Crossroad, highlighted in predictive models and in sampled data.
Forward plan
SVL has four drilling rigs with three continuing at its flagship Bowdens Silver Project and one at the Barabolar Project.
The initial program at Barabolar is expected to comprise at least 2,000 metres of diamond drilling.