Silver Mines Ltd (ASX:SVL, OTC:SLVMF) has expanded the footprint of gold mineralisation in the Southern Gold Zone during an exploration drilling program at the Bowdens Silver Project near Mudgee in New South Wales.
The company’s exploration program during the second half of 2022 tested for extensions to mineralisation outside the current planned open-cut pit design and for higher grades within the open-cut pit design.
Standout assays include:
- 384 metres at 10 g/t silver, 0.61% zinc, 0.39% lead and 0.09 g/t gold from 77 metres;
- 7 metres at 19 g/t silver, 1.60% zinc, 0.88% lead and 0.34 g/t gold from 238 metres;
- 167 metres at 11 g/t silver, 0.53% zinc, 0.54% lead and 0.20 g/t gold from 145 metres;
- 12 metres at 30 g/t silver, 1.20% zinc, 1.87% lead and 0.43 g/t gold from 192 metres; and
- 10 metres at 20 g/t silver, 1.09% zinc, 0.95% lead and 0.79 g/t gold from 213 metres.
An update of the open-pit mineral resource estimate for the project is underway, which is scheduled to be completed next month and will form the basis for the open-pit re-optimisation study.
Furthermore, exploration drilling continues at Bowdens with two diamond drill rigs on site.
Gold potential at Bowdens
The maiden underground mineral resource estimate (MRE) at Bowdens Silver Project, for the first time included gold.
Gold has been predominantly identified within the Bundarra Zone which is directly underneath the planned open-cut pit and potentially to be targeted with underground mining methods.
Gold was also recognised in 2021 at shallow depths in the south and adjoining the Bowdens Silver Deposit, along with high grades of silver mineralisation.
This area has become an additional target for gold and silver exploration drilling during 2022 and was named the Southern Gold Zone.
Forward plan
SVL has now completed a 15,000-metre program of diamond drilling at the Bowdens Silver Deposit and all results are returned.
Updating of the open-pit mineral resource estimate is underway, which will include gold within the Southern Gold Zone.
The updated mineral resource estimate is scheduled to be completed next month and will form the basis for the open pit re-optimisation study.
With two diamond rigs operating on site, exploration targets at the Bowdens deposit include extensions to the underground MRE where it remains open, including the Southern Gold Zone, and regional exploration targets as defined by the 2022 seismic survey.