Silver Mines Limited Announces Further Underground Resource Drilling Success At Bowdens
October 25, 2021 at 06:54 pm EDT
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Silver Mines Limited announced recent assay results from the drilling program at the Bowdens Silver Project located near Mudgee in New South Wales. This program is targeting high-grade mineralised zones for potential underground mining scenarios. The mineralised zones lie directly beneath the bulk tonnage Bowdens Silver Ore Reserve currently in the final stages of approval for open-cut mine development. Diamond drilling continues at the Northwest Zone, the Aegean Zone, and the Bundarra Zone. The Aegean to Northwest Zone is dominated by high-grade silver vein systems comprising substantial widths, while the Bundarra Zone is dominated by wide zinc, lead and gold bearing veins with appreciable silver. Results have been received for ten holes, BD21015 through to BD21025, with most of these holes being within the Northwest and Aegean Zones. Holes BD21015 and BD21017 were drilled to test for southern extensions to the Bundarra Zone towards BD21007. One hole, BD21018 was drilled in the south of the deposit to investigate a gravity anomaly and highlights potential to add to the current resources, notably there is a close association of silver and gold at this location in the deposit. Northwest and Aegean Zones Results: The Northwest Zone starts approximately 30 metres below the base of the proposed Bowdens Silver open pit. This mineralised zone is targeted for high-grade silver underground mining scenarios with continuation and connectivity to the Aegean Zone. Both zones are defined as shallowly dipping zones 1 metre to 20 metres thick, extending over 450 metres east to west and continuing down plunge/dip to the northwest for at least 300 metres. This entire zone is not yet closed-off with possible extensions along the controlling faults in a north to north-westerly strike. Drilling in the Northwest Zone has previously intersected breccia and veined sulphides dominated by silver sulphides, sphalerite (zinc sulphide) and galena (lead sulphide) within the welded tuff of the Rylstone Volcanics. Recent results from BD21025 show continued increasing width of high-grade material with 14 metres @ 264 g/t silver equivalent (240 g/t silver, 0.07% zinc, 0.61% lead) from 322 metres. Additionally, closely spaced wedge drilling for estimation purposes confirms the lateral continuity of mineralisation with 3 metres @ 679 g/t silver equivalent (678 g/t silver) from 306 metres in BD21003A. Bundarra Zone Results: Drill holes BD21015 and BD21017 were drilled to test southern extents of the Bundarra Zone south of the semi-massive sulphide intersection in BD17011 and west of more recent BD21007. The Bundarra Zone is a base metal (zinc and lead) dominant sulphide zone below the current silver?zinc?lead resource which represents a hotter part of the Bowdens Silver system. Gold is common in veins throughout the deeper parts of the system where mineralisation is potentially related to, or controlled by, the emplacement of the dacite intrusion into the Rylstone Volcanics and underlying Ordovician Basement sediments. A large volume below the dacite intrusion has not previously been drilled and this position represents a substantial target for proving resources for underground mining scenarios. Significant intercepts from BD21015 include 1.0 metre @ 513 g/t silver equivalent (126 g/t silver, 2.94% zinc, 4.47% lead and 1.14 g/t gold) from 212 metres, and 1.0 metre @ 357 g/t silver equivalent (53 g/t silver, 2.27% zinc, 3.63% lead and 0.87 g/t gold) from 218 metres, while from BD21017 intercepts include 3.0 metres @ 278 g/t silver equivalent (44 g/t silver, 3.18% zinc, 1.92% lead and 0.15 g/t gold) from 221 metres. Results from BD21015 and BD21017 give the Bundarra zone a thickness of 3 to 20 metres, 200 metres of strike (northwest to southeast) and extend 120 metres (east to west). Bowdens Southern Pit Extensions: Drill hole, BD21018, has been completed to test an area of the deposit currently outside of the open pit Mineral Resource and where the Company has identified the potential to add significant zones of shallow mineralisation. This area was identified with a focus on an association between high-grade silver and gold, with potential similarities to the Northwest Zone and gold being associated with silver in the centre of the zone. BD21018 was drilled to intercept the mineralising structures at a more optimal angle and returned significant shallow silver and gold mineralisation. Intercepts include 9.8 metres @ 214 g/t silver equivalent (180 g/t silver, 0.14% zinc, 0.06% lead and 0.31 g/t gold) from 39 metres as well as 4.0 metres @ 343 g/t silver equivalent (146 g/t silver, 0.56% zinc, 0.41% lead and 1.94 g/t gold) from 88 metres. Expanded Program: The Company currently has four drilling rigs on-site undertaking an expanded program of 30,000 metres of diamond drilling. Targets include high-grade veins and feeder zones outside of the current open pit Ore Reserve in the north, central and southern parts of the Bowdens Silver Deposit. In the south of the deposit for example, limited previous diamond drilling is available to inform an interpretation of vein orientations and textures and, as such, this are area will be tested to target higher-grade veins in the near surface. The drilling to target resources beneath the current open pit Ore Reserve for underground mining scenarios will continue until at least the end of 2021. Drilling will continue into 2022 with four diamond rigs to continue to test for system extensions to the Bowdens Silver Deposit.
Silver Mines Limited is an Australia-based silver exploration company. The Company's project area comprises 2,007 square kilometers (490,000 acres) of titles covering approximately 80 kilometers of strike of the mineralized Rylstone Volcanics. It also holds land position in the Orange/Blayney district covering 747 square kilometers (185,000 acres). Its projects include the Bowdens Silver Project, the Barabolar Project, and Tuena Gold Project. The Bowdens Silver Project is located approximately 26 kilometers (km) east of Mudgee in the Central Tablelands Region of New South Wales and approximately 260 Km by road from the State capital, Sydney. The Barabolar Project is located in central New South Wales, approximately 26 Km east of Mudgee and 10 Km northwest of the Company's Bowdens Silver Project. The Tuena Gold Project is located 80 kilometers south of the city of Orange in New South Wales. It also holds 100% of EL8973, EL8974, EL8975 and EL8526, being the Tuena Project.