Silver Mines Ltd (ASX:SVL, OTC:SLVMF) has completed an infill drilling program at the Bowdens Silver Project near Mudgee in Central West New South Wales, confirming extensions to silver mineralisation at the proposed mine up to 80 metres vertically and 130 metres laterally.
The extensions to high-grade mineralisation have been identified from the base of a planned open pit in the south of the Main Zone, offering an opportunity to simplify future pit designs and reduce the strip ratio of future mining.
This drilling has improved grade continuity leading into the optimisation process for the proposed open pit operations.
Assay results of note
The results from this latest round of drilling will also inform a mineral resource estimate (MRE) update for Bowdens – the current MRE sits at 200 million tonnes at 62 g/t silver equivalent – as well as an updated ore reserve statement, both expected to be complete in the third quarter of this year.
Results of note from this program include:
- 14 metres at 105 g/t silver equivalent (Ag Eq) (59 g/t silver, 0.71% zinc & 0.26% lead) from 11 metres;
- 70 metres at 68 g/t Ag Eq (18 g/t silver, 0.20 g/t gold, 0.44% zinc & 0.32% lead) from 98 metres, including 13 metres at 153 g/t Ag Eq (31 g/t silver, 0.31 g/t gold, 1.30% zinc & 0.94% lead) from 128 metres, and 3 metres at 127 g/t Ag Eq (85 g/t silver, 0.42 g/t gold, 0.11% zinc & 0.08% lead) from 99 metres;
- 71 metres at 47 g/t Ag Eq (25 g/t silver, 0.06 g/t gold, 0.11% zinc & 0.33% lead) from 28 metres, including 13 metres at 157 g/t Ag Eq (73 g/t silver, 0.19 g/t gold, 0.31% zinc & 1.48% lead) from 28 metres, including 3 metres at 450 g/t Ag Eq (24 g/t silver, 5.15 g/t gold, 0.24% zinc & 0.04% lead) from 114 metres.
Additionally, Silver Mines identified high-grade gold in several holes, extending the Southern Gold Zone east by 40 to 80 metres and up dip by about 170 metres into the open pit area.
Drilling finalised
The company has finalised drilling at the Bowdens Silver Deposit while project optimisation work is underway.
Since January 2020 the company has completed nearly 78,000 metres of primarily diamond drilling in extensional and exploration drilling programs resulting in the MRE updates released in 2022 and 2023.
Exploration is now focusing on achieving access to regional targets, including the Bara Creek Prospect and the Coomber Prospect.