Silver Mines (ASX:SVL) reports that it has added to the existing Mineral Resource and Ore Reserve at its Bowdens Silver Project in New South Wales.
The maiden Mineral Resource Estimate (MRE) for Bowdens Silver Underground now totals 42.9 million ounces silver equivalent and will provide support for the planned Scoping Study, which seeks to identify further potential underground mining scenarios.
“the drill-out has been hugely successful”
The potential for a contiguous underground operation, in addition to the planned open pit operation, has firmed significantly as we further prove this large mineral system. We will now move to the completion of the underground mining scoping study.
Although Mineral Resources at Bowdens now totals over 315 million ounces of silver equivalent, both the open pit and underground resource areas remain open. In addition, it is very encouraging to now see a higher tenor of gold in the system as we move south and east.”
The company also notes that 56% of the additional Mineral Resources are within the Measured and Indicated categories, with the open-pit and underground mine remaining open.
In addition, it is reported that the estimate is situated directly beneath the open cut Mineral Resource, which currently stands at 275Moz silver equivalent and is undergoing final development approvals.
The Bowdens Silver Project is located about 26km from the township of Mudgee in central New South Wales and comprises a consolidated project area of 1,654km-square, with Silver Mines owning 100% of all associated tenements. The project represents the largest undeveloped silver deposit in Australia but boasts ‘outstanding’ logistics for future min development.
With the updated MRE for the Bowdens Silver Underground now delivered, Silver Mines announces that it will move forward with the completion of its planned underground mining Scoping Study.
Images: Silver Mines Limited
