Silver Mines (ASX:SVL) has hit the highest grade silver drilled so far in the Aegean Zone at the wholly-owned Bowdens Silver Project in NSW, boosting confidence that the high-grade mineralization extends beyond the already substantial current Ore Reserve.
Exploration drilling during the second half of 2022 tested for extensions to higher-grade mineralization outside the current planned open-cut pit design as well as for extensions to the Southern Gold Zone. The Aegean, Northwest and Bundarra Zones remain areas of mineralization that is open in many orientations and as such, continue to be targets for diamond drilling.
Highlights
- An intercept from the Aegean Zone hit 6m @1,251g/t silver and 0.18% lead from 335m – more than 40oz of silver per tonne.
- Within that hit, an individual 1m intercept was returned at 6,264g/t silver (over 200oz of silver per tonne).
- The drill result is on the very edge of Silver Mines’ Underground Mineral Resource Estimate (MRE), updated in March to 42.9Moz of silver equivalent.
- Assays returned from drilling targeting additional high-grade mineralization in the Bundarra Zone returned 156m @75g/t silver equivalent (34g/t silver, 0.27% zinc, 0.34% lead and 0.19g/t gold) from 169m, including 2m @926g/t silver equivalent (850g/t silver, 0.24% zinc, 1.70% lead and 0.06g/t gold) from 189m.
- The three underground zones at Bowdens – Aegean, Bundarra and Northwest – all lie beneath the recently approved Bowdens open-cut project which has a 396Moz of silver equivalent Mineral Resource. This makes it Australia’s largest undeveloped silver deposit and one of the largest in the world.
- Exploration drilling continues with two diamond drill rigs on site.
For further information please visit: https://www.silvermines.com.au/
