Silver Mines (ASX:SVL) has increased by 56% the total tonnes for the Bowdens Silver Project near Mudgee in New South Wales in a Mineral Resource Estimate (MRE) update.
The company reports the updated MRE is a result of additional drilling, consisting of 132 drillholes for 53,190m over the past 5.5 years. The updated MRE represents a 16% increase in silver ounces and a 44% increase in silver equivalent ounces, with an 8% decrease in a silver equivalent grade.
Commenting on the updated MRE, Silver Mines Managing Director Anthony McClure says: “The significant increase in the mineral resource at Bowdens Silver is an outstanding result and further demonstrates the quality of the project’s substantial mineralised system.
The high component of measured and indicated Mineral Resource reflects increased geological confidence and provides considerable scope in delivering further project longevity.”
In addition, gold contained within the updated MRE contains a total of 19Mt @ 0.31g/t Au for 190,000 ounces of gold. Silver Mines states the addition of the gold to the MRE adds ‘significant’ value to the Bowdens project.
The company reports the updated MRE will be utilised to optimise open-cut mine studies and drive mineral resources to ore reserve conversion.
Silver Mines is an Australian public resource company that is focused on the Bowdens Silver Project, which holds ‘substantial’ resources as the ‘largest’ undeveloped silver project in Australia.
Images: Silver Mines Ltd
