Silver Mines Ltd (ASX:SVL, OTC:SLVMF) has completed a Native Title agreement covering a parcel of Crown land within the area of Mining Lease Application (MLA) 601 of the Bowden Silver Project near Mudgee in central New South Wales.
The company’s wholly owned subsidiary Bowdens Silver Pty Ltd has completed this agreement with the Warrabinga-Wiradjuri #7 Native Title claim.
In addition, the related Section 31 Deed has subsequently been executed by the Minister for Natural Resources on behalf of the State of New South Wales.
Key permitting step
This now completes the 'Right to Negotiate' process in accordance with Section 31 of the Native Title Act 1993 (Cth) and completion of this process enables the continued processing of MLA 601 covering the Bowdens Silver Project.
This is another key permitting step for the Bowdens Silver Project, which on April 3, 2023, received development consent from the Independent Planning Commission (IPC) of New South Wales.
READ: Silver Mines gets green light for Bowdens development and production
About Bowdens
Bowdens is Australia’s largest undeveloped silver deposit and one of the largest globally.
The proposed mine’s 23-year life, including 16.5 years of silver production and by-products of zinc and lead, underpins significant value potential for the company with the project also boasting substantial potential expansion opportunities.
“Significant benefits”
At the time of the IPC consent, Silver Mines managing director Anthony McClure said “the IPC’s decision is the most significant milestone for the company since we took over the project in mid-2016.
“Our team has delivered a technically reliable and environmentally responsible project.
"This decision recognises the significant long-term economic and social benefits the project will deliver for our shareholders, the State of New South Wales and also the local communities across the Mid-Western Regional Government area.”
McClure added that the company now looked forward to getting on with delivering the project.
"After the significant upgrade to our mineral resources as announced last week, the company is undertaking a significant optimisation program updating the Bowdens Silver Feasibility Study.”
Bonanza results
Since then, the company has continued to grow the Bowdens project with bonanza-grade results from drilling likely to boost resources with potential to increase the mine life.
READ: Silver Mines hits up to 6,264 g/t silver in Bowdens’ Aegean Zone drilling
Drilling at the Aegean Zone returned impressive results of up to 6 metres at 1,251 g/t silver and 0.18% lead from 335 metres, including 1-metre at 6,264 g/t silver, the zone’s best yet.
This zone is now defined over 200 metres in strike and 180 metres wide, with the results confirming mineralised extensions to the northwest.