Silver Mines reports high-grade assays from bulk sampling and blast works at its Bowdens project in NSW
Bowdens is Australia’s largest undeveloped silver deposit
Plans under way to update the current MRE and complete the feasibility optimisation study
Assays from bulk sampling and blast works have demonstrated Silver Mines is sitting on significant upside potential at its Bowdens project in NSW.
The high-grade results come from blast hole drilling that was part of ongoing optimisation work and ore-sorting trials.
Silver Mines (ASX:SVL) is working to upgrade the existing resource of 396Moz silver equivalent at Bowdens, which is already the largest undeveloped silver deposit in Australia.
The blast hole drilling, part of a NSW Resources Regulator approved exploration program, was designed within the framework of ongoing optimisation work and ore-sorting trials.
Samples were taken from both high and low-grade mineral resource estimate (MRE) blocks in the south of Bowden’s Main Zone, with high-grade assays averaging 43% higher than block model grades.
The current MRE was last updated in March 2023.
In the zone for growth
Highlighting the potential upside of the current MRE and Bowdens mining scenarios, one metre assays of blast holes include 671g/t silver equivalent (including 649g/t silver, 0.02% zinc and 0.64% lead) and 549g/t silver equivalent (including 516g/t silver, 0.44% zinc and 0.33% lead).
Four bulk samples totalling 21t were taken from three sites for optimisation and mine development studies.
Bulk samples were meticulously planned from where high and low-grade material was estimated and exposed at surface.
For the eastern sample sites, sixty-seven blast holes were drilled and sampled at one metre intervals. The drilling was completed on a grid of six-by-six holes, spaced 2m apart and drilled to a depth of 3m each.
In each zone sampled, mineralisation is associated with high concentration of silver in small veins and fractures, as it is across the entire Bowdens deposit.
Material from a bulk sample site with grey fracture/breccia fill minerals of silver sulphides. Pic: Supplied
“We’re delighted to release these results which further demonstrate the quality of Bowdens’ substantial mineralised system, and indicate potential of significant upside to grade for mining scenarios at Bowdens,” SVL chief executive Jo Battershill said.
“We’re looking forward to updating the project’s feasibility study this year in lead up to the proposed Bowdens silver mine development.”
The latest results back up project exploration within and outside the current planned open cut pit design which recently returned more high-grade mineralisation in the highly prospective Southern Gold Zone and Bundarra Zone.
Silver Mines is well funded to deliver on its development plans for Bowdens following its recent oversubscribed $8 million placement and $2 million share purchase plan.
As well as updating the MRE and completing the feasibility optimisation study, SVL continues exploration for resource growth across the company’s NSW tenements, and general working capital.
This article was developed in collaboration with Silver Mines, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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