logo-loader

Silver Mines to begin drilling new targets at the Bowdens Silver Project

Published: 11:37 16 Oct 2017 AEDT

drilling rig
$70 million spent on the project till date

Silver Mines Limited (ASX:SVL) will commence a drilling program following an induced polarisation (IP) survey over the Bowdens Silver resource area located near Mudgee in New South Wales.

The IP survey has indicated a large (+1000 metres by 250 metres) anomaly extending between 100 metres and 400 metres depth beneath the surface and below the Bowdens Silver resource area.

Within this zone are several areas of very high chargeability which may be related to intense sulphide mineralisation.

Recent drilling within the northern edge of this area encountered massive and semi massive sulphide mineralisation (zinc, lead and silver) along with gold mineralisation.

As this recent discovery in drilling is located on the northern edge of the IP anomaly, approvals processes for additional drilling were commenced and have now been completed.

Drilling will commence immediately. The drilling program includes reverse circulation pre-collars to circa 250 metres followed by diamond drilling to depth.

A total of 16 drill holes for a total program of up to 11,000 metres is planned in a first pass program.

Bowdens Silver is the largest undeveloped silver deposit in Australia, hosting a 275 million ounce silver equivalent resource, with a high-grade core.

The project has received circa 90,000 metres of drilling to date with $70 million spent on it.

Earlier this month, Silver Mines completed a share placement to institutional, professional and sophisticated investors, to raise $4.3 million.

Silver Mines talks Native Title and development plans for Bowdens

Silver Mines Ltd (ASX:SVL, OTC:SLVMF) MD Tony McClure speaks with Proactive after announcing the company has completed a Native Title agreement covering a parcel of Crown land within the area of Mining Lease Application (MLA) 601 of the Bowdens Silver Project near Mudgee in central New South...

on 5/9/23