Silver Mines Limited (ASX:SVL) Commences Drilling at Elsienora Project
Drilling Overview
Silver Mines Limited (ASX:SVL) has announced the commencement of drilling at the newly acquired Elsienora Project. This project is strategically located adjacent to the Company’s Tuena Gold Project and presents multiple silver and gold targets. Significant historic drilling has occurred across the tenement, revealing promising mineralisation at locations such as the Cuddyong, Pickers, Nobbs Reef, and Elsienora prospects.
Historic Discoveries
Previous exploration has yielded noteworthy findings, including 29 metres at 1.53 grams per tonne (g/t) gold at the Cuddyong Prospect. Other highlights include 8 metres at 3.14 g/t gold from 30 metres depth and 21 metres at 0.89 g/t gold from deeper drilling at the Elsienora Prospect. The data compiled from past exploration emphasizes the Picker Prospect’s potential for McPhillamys-style gold mineralisation.
Future Exploration Plans
In total, Silver Mines plans to undertake between 2,000 to 3,000 metres of diamond drilling. The targeted focus will be primarily on silver and gold mineralisation, expected to occur in the coming quarter. This drilling phase follows a detailed review of existing data and aims to identify underexplored areas within the project.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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