Silver Mines Ltd (ASX:SVL) has delivered its deepest high-grade silver intersection to date at its Bowdens Silver Project near Mudgee in New South Wales, from a vertical depth of 415 metres in the Bundarra Zone.
The company’s diamond drilling program has continued to expand zones for potential underground mining scenarios at the Bowdens deposit, with a recent focus on the Bundarra Zone.
Notable assays from Bundarra include:
- 4 metres at 505 g/t silver equivalent from 237 metres;
- 16 metres at 147 g/t silver equivalent from 538 metres;
- 4.6 metres at 460 g/t silver equivalent from 411 metres, including 1-metre at 1,769 g/t silver equivalent from 414 metres.
What’s more, the company has engaged H&S Consultants to begin the estimation of mineral resources for the underground high-grade zones at Bowdens, which is expected to be finalised this quarter.
Drilling at Bundarra
The Bundarra Zone is a series of base metal (zinc and lead) dominant, semi-massive to massive sulphide lenses below the current silver-zinc-lead ore reserve.
Drill holes testing the extent of mineralisation beneath a dacite intrusion have shown that mineralisation is open along major structures (Gully and Eastern Faults).
The Bundarra Zone remains open in many orientations which also defines the continuation of the Bowdens mineral system.
Northwest Zone results
The Northwest Zone starts about 30 metres below the base of the proposed Bowdens silver open pit.
This mineralised zone is a high-grade silver target at depth with continuation and connectivity to the Aegean Zone.
Both zones are defined as shallowly dipping zones one metre to 20 metres thick, extending over 520 metres (east to west) and continuing down plunge/dip to the northwest for at least 300 metres.
Notable assays from Northwest Zone include:
- 15 metres at 230 g/t silver equivalent from 178 metres;
- 7 metres at 373 g/t silver equivalent from 184 metres; and
- 18 metres at 130 g/t silver equivalent from 148 metres.
Forward plan
Following the underground MRE, Entech and GR Engineering will complete a scoping study of underground mining scenarios related to the mineral resource estimate.
The company has three drilling rigs on site continuing diamond core drilling at the Bowdens Silver Deposit, with one drilling rig at the Barabolar Project.