Silver Mines Ltd (ASX:SVL, OTC:SLVMF) has been given the green light to proceed to development and production at the Bowdens Silver Project in central New South Wales (NSW) following approval by the state’s Independent Planning Commission (IPC).
Receipt of the final development approval for Bowdens near the town of Mudgee follows comprehensive processes by the company, various government authorities including the NSW Department of Planning and Environment (DPE) and then finally the IPC.
Bowdens is Australia’s largest undeveloped silver deposit and one of the largest globally.
“Most significant milestone”
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.”
Potential expansion
The 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.
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.”