Silver Mines Ltd (ASX:SVL, OTC:SLVMF) has identified bonanza-grade silver during diamond drilling at Aegean Zone within the Bowdens Silver Project in New South Wales.
Drill hole BD22055 hit six metres at 1,251 g/t silver and 0.18% lead from 335 metres, including a single 1-metre hit at 6,264 g/t silver within the six-metre intercept, the zone’s highest ever.
The Aegean is defined over 200 metres in strike and 180 metres wide, with the latest results confirming mineralised extensions to the northwest.
Further drilling has been completed, with results pending.
More findings
Assays have also been received from drilling testing the southwest of the Aegean. Results from two intervals in drill hole BD22054 include:
- 6 metres at 235 g/t silver equivalent (131 g/t silver, 1.52% zinc and 0.72% lead) from 138 metres, and
- 3 metres at 259 g/t silver equivalent (238 g/t silver, 0.12% zinc and 0.41% lead) from 158 metres.
To the east of Aegean, BD23001 returned some narrow high-grade silver at shallow depths, including two metres at 169 g/t silver equivalent (150 g/t silver, 0.20% zinc and 0.26% lead) from 112 metres, and 1-metre at 187 g/t silver equivalent (3 g/t silver and 3.71% zinc) from 175 metres.
Testing for extensions
SVL has been conducting extensional drilling outside the deposit's ore reserve at the Aegean, Northwest and Bundarra zones since the second half of last year.
The project’s underground mineral resource estimate totalling 42.9 million ounces silver equivalent shows clearly that the three zones remain open in various orientations.
Drilling at the Bundarra Zone in the centre of the deposit returned silver-rich Northwest-style mineralisation, as well as gold-rich Bundarra mineralisation.
Drill hole BD22056 returned:
- 156 metres at 75 g/t silver equivalent (34 g/t silver, 0.27% zinc, 0.34% lead and 0.19 g/t gold) from 169 metres, including 2 metres at 926 g/t silver equivalent (850 g/t silver, 0.24% zinc, 1.70% lead and 0.06 g/t gold) from 189 metres, and 10 metres at 224 g/t silver equivalent (68 g/t silver, 0.12% zinc, 0.33% lead and 1.65 g/t gold) from 246 metres.
Meanwhile, BD22052 in the central area of the planned open-cut pit above the Southern Gold Zone returned:
- 2 metres at 459 g/t silver equivalent (198 g/t silver, 2.15% zinc, 3.08% lead and 0.58 g/t gold) from 277 metres, and
- 5 metres at 90 g/t silver equivalent (11 g/t silver, 0.73% zinc, 0.75% lead and 0.21g/t gold) from 316 metres.
Reported drill hole locations at the Bowdens Silver Project.
Current work plan
SVL has two diamond core rigs on site, targeting regionally prospective areas of the Rylstone Volcanics, as well as new targets at Bowdens Silver, now that the latter has received development approval.
The Bowdens Silver campaign is funded by the NSW Government New Frontiers Exploration Program, comprising $100,000 for drilling and $50,000 for additional seismic surveying.
The latter is in the planning stage.
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