Australian explorer Silver Mines (ASX:SVL) has encountered ‘bonanza’ silver grades through extensional drilling at the Aegean Zone within its Bowdens Silver Project in New South Wales.
The company reports drillhole DB22055 intersected 6m @ 1,251 grams per tonne (g/t) Ag and 0.18% Pb from 335m, which is the ‘highest’ silver grade returned at Aegean to date.
What’s more, this hit included a 1-metre zone grading 6,264g/t Ag.
What’s more, this hit included a 1-metre zone grading 6,264g/t Ag
Silver Mines says a maiden underground Mineral Resource Estimate (MRE) completed in September 2022 demonstrated evidence that the Aegean, Northwest, and Bundarra zones remain open in various orientations. As a result, Silver Mines continued diamond drilling to test for extensions to the resource around Aegean and Northwest.
Additional assays returned at Bundarra include BD22056 with 156m @ 75g/t Ag-Eq (34g/t Ag, 0.27% Zn, 0.34% Pb, and 0.19g/t Au) from 169m, including 2m @ 926g/t Ag-Eq (850g/t Ag, 0.24% Zn, 1.70% Pb, and 0.06g/t Au) from 189m and 10m @ 224g/t Ag-Eq (68g/t Ag, 0.12% Zn, 0.33% Pb, and 1.65g/t Au) from 246m.
Silver Mines reports it currently has 2 diamond core rigs on site, with exploration targeting regionally prospective areas of the Rylstone Volcanics, and targets at the Bowdens Silver deposit.
The Bowdens Silver target currently includes extensions to the underground MRE, where it remains open, including the Southern Gold Zone, and regional exploration targets defined by a seismic survey completed in 2022.
Silver Mines reports a drilling program utilising funding from the New South Wales Government New Frontiers Exploration Program has begun. Under this program, the company in late-2022 received $100,000 for drilling and $50,000 for seismic surveying at the project. The company notes the seismic survey is in the planning stage.
Silver Mines is an Australian silver explorer focused on the Bowdens Silver Project near Mudgee in central New South Wales. Along with Bowdens, the company also holds the Tuena Project near Orange and the Barabolar Project, also near Mudgee.
Images: Silver Mines Ltd
