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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	SVL
Latest Price:	0.13 (-7.41% )
52-week High:	0.40
52-week Low:	0.13
Market Cap:	15.34M

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Silver Mines Full Silver Mines profile here

Silver Mines (ASX: SVL) is a silver explorer that is primarily focused on exploring and developing its silver-rich polymetallic assets in the New England region of northern New South Wales, Australia, with the company’s strategy to rapidly develop its Webbs Silver Project.

Silver Mines unveils positive results from a survey at Webbs Silver Project

Wednesday, February 10, 2010

Silver Mines (ASX:SVL) has released very positive results from the recently completed induced polarisation survey on our 100% owned Webbs Silver Project.

The results highlight a number of very distinct ‘chargeable ‘ zones parallel to the known main lode structure, with the location, size, continuity, depth extent and shape of the new anomalies suggesting there is a high likelihood of multiple mineralised structures parallel to the main Webbs Silver mineralised zone, both to the east and west.

The IP chargeability parameter relates directly to the amount of metallic minerals in the earth and these anomalous results point to areas that are likely to contain anomalous amounts of sulphide minerals such as zinc, lead and silver that may be related to economic accumulations of these metals.

IP geophysics has been used very successfully by SVL on the Webbs Silver Project for identifying silver mineralisation. To date, each of four previously identified chargeable zones which have been drilled, have encountered high grade silver mineralisation.

The best of these is the Webbs Silver South Prospect which was originally identified in the 1960s using IP.

This prospect has an inferred resource of almost five million ounces of silver.

Selected targets will be drilled in the March drilling program, which has now been increased to a 5,000m RC and 1,000m diamond program to allow for these very exciting new targets to be tested.

Chief Executive Charles Straw said the company saw the latest results as supporting the view that Webbs had the potential to host a significant silver resource both within and adjacent to the historic lodes.

"The Company is very excited about the new targets and the potential of the project," Mr Straw said.

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