Silver Mines Limited (ASX:SVL) Begins Drilling at Elsienora Project
Drilling Commences at Elsienora Project
Silver Mines Limited has commenced diamond drilling at the Elsienora Project (EL9588), adjacent to its Tuena Gold Project. The initial program targets the Picker, Barite, and Elsienora Prospects, all with potential for “McPhillamys” style gold mineralisation.
Historic Drilling Results
Historic drilling includes 18m @ 0.44g/t Au, 5.4g/t Ag and 0.18%Ba from 27 metres; 8m @ 0.55g/t Au, 23.2g/t Ag and 0.24%Ba from 26 metres; and 21m @ 0.89g/t Au from 207 metres.
Future Drilling Plans
Silver Mines plans to complete approximately 1,700m of diamond drilling to target silver and gold mineralisation.
Executive Comments
Jo Battershill, Silver Mines Limited CEO, comments “We are very excited to be commencing a diamond drilling program at this highly prospective gold project. Historical results from previous explorers have firmed up the prospectivity and conceptualised correctly the potential for McPhillamys Style gold mineralisation. In our view, however, the historic drilling didn’t fully test the concept and our initial diamond drilling program should fill in some of those knowledge gaps. The extensive, and highly prospective Godolphin-Copperhannia Fault corridor remains vastly underexplored, and Silver Mines holds a commanding exploration package across this structure. We look forward to updating the market as the program progresses.”
Motley Fool contributor Kiarra Jackson 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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