Silver Mines Limited (ASX:SVL) Commences Diamond Drilling at Bowdens Project
Drilling Program Overview
Silver Mines Limited has initiated a diamond drilling program at the Bowdens Silver Project, undertaking approximately 2,000 metres of PQ and HQ core. The Geo-Met Program aims to collect samples for the first ten years of production to support concentrate manufacturing, transportation certification, and tailings processing optimisation. The program targets the Main Zone, with potential to extend the current Ore Reserve Estimate of 32.8Mt (71.7Moz Ag).
Ore Reserve Expansion Potential
Preliminary interpretations suggest areas beneath the optimised open pit design may contain extensions to high-grade mineralisation, potentially increasing the Ore Reserve. Notable intercepts include 3m at 286g/t Ag, 0.44% Zn & 0.25% Pb in BGR050, and 5m at 60g/t Ag, 1.27g/t Au, 2.93% Zn & 1.63% Pb in BD24007. The comprehensive test work will inform final mine design and planning decisions.
Executive Comments
Managing Director Jo Battershill commented: “With the release of the Mineral Resource and Ore Reserve Estimates in December 2024, and in conjunction with the Optimisation Study, the Company is now advancing final mine designs and product specifications. This program will provide invaluable information for potential off-take partners and the final tailings analysis. It is always exciting to return to drilling at the Bowdens Silver Project, and we are keen to take advantage of this Geo-Met Program to further test areas of the Mineral Resource that we believe could be converted to Ore Reserves with minimal additional drilling. The target area already contains high-grade hits and could potentially extend the open pit design by an additional depth of 50 metres over a strike length of around 500 metres. Simple geometric calculations demonstrate this could extend the mine life well beyond the current 16½-years. It has been pleasing to see that when infill drilling areas of historically lower drill hole density at Bowdens, the increased data has a strong track record of improving continuity and demonstrating the potential for improving Resource grades. The Bowdens Silver Project remains one of the most advanced silver development projects on the ASX. When combined with the project’s tier one jurisdiction, we believe Silver Mines represents a compelling opportunity within the global silver sector.”
Motley Fool contributor Abbie Stokes 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 recommended BHP Group. 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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