Silver Mines (ASX:SVL) has started regional exploration work — including soil sampling, geological mapping, and rock sampling — at its Bowdens Silver Project in New South Wales.
The $238.73 million market capitalisation company is also progressing some 15,000m of exploration diamond drilling in and around the Bowdens Silver deposit.
The targets being tested are areas of potential extensions to mineralisation and targets generated from a seismic survey in 2022.
Follow-up geophysical surveys, including gravity and induced polarisation (IP) surveys, will also be completed across targeted areas of anomalism from reconnaissance work.
This news comes after Silver Mines completed a ‘major’ regional 2D seismic survey in the region, with 96km of data collected covering the Bowdens and Barabolar projects. Interpretations are anticipated to be returned in November this year.
Silver Mines says the seismic survey is aimed to provide targets within ‘highly prospective’ Rylstone Volcanics for epithermal silver-gold-base metal mineralisation, alongside copper-gold porphyry targets at Barabolar.
Meanwhile, drilling conducted at Barabolar has confirmed a preserved footprint of a ‘large’ hydrothermal system with copper-fertile volcanic suites and extensive pyrite alteration.
At Bowdens, drilling has confirmed ‘significant’ extensions to mineralisation, which continues to the west, south, and north.
Silver Mines reports drill results include drillhole BD23014 with 2m @ 565g/t silver equivalent (AgEq) from 155m; and drillhole BD23021 with 7m @ 89g/t AgEq from 354m.
The Bowdens project is located in central New South Wales, 26km east of Mudgee. The project area comprises 2,115km-square of titles covering 80km of strike of ‘highly-mineralised’ Rylstone Volcanics.
Silver Mines is an Australian resources company focused on its gold assets in Australia. As of 30 June 2023, the company had $8.051 million in cash and $5.327 in unused finance facilities at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Silver Mines
