Join our daily newsletter At The Bell to receive exclusive market insights
- Silver Mines (SVL) begins a scoping study at the Bowdens Silver Project in New South Wales (NSW)
- A scoping study and mineral resource estimate will be undertaken to determine if potential exists for underground mining operations
- Focus will be on the mineralisation outside the current open-pit ore reserve and will include the Northwest High-Grade, Aegean and Bundarra zones
- The scoping study and mineral resource assessment will likely be completed in the March quarter
- Shares in Silver Mines are up 2.17 per cent, trading at 23 cents at 12:43 pm AEST
Silver Mines (SVL) has begun a scoping study at the Bowdens Silver Project in New South Wales (NSW).
The 2007 square kilometres Bowdens Project lies roughly 26 kilometres east of Mudgee and is the largest undeveloped silver deposit in Australia.
Recent drilling at the project, which yielded outstanding results, has prompted Silver Mines to begin a mineral resource assessment and scoping study for potential underground mining operations.
H&S Consultants has been engaged to advise and undertake an assessment of the silver results to complete a mineral resource.
Focus will be on the mineralisation outside the current open-pit ore reserve and will include the Northwest High-Grade, Aegean and Bundarra zones.
Both the scoping study and mineral resource assessment will likely be completed in the March quarter.
Managing Director Anthony McClure is pleased the scoping study is beginning.
“This is a substantial moment in the evolution of the Bowdens Silver Project,” Mr McClure said. “Drilling in three zones directly beneath our open-pit ore reserves has shown considerable high-grade silver success and over substantial widths.
“This success allows us to move rapidly to commence a preliminary mineral resource assessment along with a scoping study for potential underground development scenarios.”
If the current drilling program, mineral resource assessment and the scoping study are successful, Silver Mines will potentially undertake a feasibility study.
Shares in Silver Mines were up 2.17 per cent, trading at 23 cents at 12:43 pm AEST.
