Join our daily newsletter At The Bell to receive exclusive market insights
- Silver Mines (SVL) has reported high-grade results from drilling the Bunderra Zone within its Bowden Silver Project in NSW
- Best results include 3 metres at 437 grams per tonne (g/t) silver equivalent from 294.4 metres, including 1.4 metres at 749 g/t silver equivalent
- The company plans to complete 30,000 metres of drilling at the site to test mineralised zones for potential underground mining scenarios
- All of the zones being tested lie beneath Bowden’s ore reserve and SVL plans to use the results to help establish a Mineral Resource as part of a Scoping Study
- Shares in Silver Mines are up 2.5 per cent at 20.5 cents each
Silver Mines (SVL) has returned high-grade results from drilling the Bunderra Zone within its Bowden Silver Project.
The project is located near Mudgee in NSW and the company is carrying out a 30,000-metre drill program using four rigs.
SVL is targeting the Bunderra, Northwest and Aegean zones, testing the mineralised zones for potential underground mining scenarios.
Recent assays from drilling at Bunderra include a best result of 3 metres at 437 grams per tonne (g/t) silver equivalent from 294.4 metres, including 1.4 metres at 749 g/t silver equivalent.
The company believes these results stem from a new quartz, sulphide vein style of high-grade mineralisation.
Additionally, assays are awaited for another hole drilled at Bunderra South where two veins were intersected, representing a potentially substantial new high-grade target including gold to the Bowdens Silver system.
All of the zones being tested by Silver Mines as part of this drill program lie beneath Bowden’s existing ore reserve.
The company is planning to use the new drill results to help establish a Mineral Resource for a Scoping Study examining underground mining scenarios at Bowden.
Drilling will continue into 2022, while the study is expected to be completed by mid-next year.
Shares in Silver Mines were trading up 2.5 per cent at 20.5 cents each at 12:46 pm AEDT.
