Silver Mines Limited (ASX: SVL) ('Silver Mines' or 'the Company') is pleased to announce recent assay results from drilling at the Bowdens Silver Project located near Mudgee in New South Wales.
Diamond drilling has continued to test the potential for high-grade resource extensions for underground mining scenarios at the Bowdens Silver Deposit, with a particular focus on the Northwest High-Grade Zone and more recently on the Aegean Zone.
The Aegean Zone is a high-grade vein system located beneath the bulk-tonnage Ore Reserve in the Main Zone of the Bowdens Deposit. Drilling has also targeted dept
Northwest High-Grade and Aegean Zones Results
Results have been received for two recent drill holes within the Northwest High-Grade Zone. BD21006 drilled to test for eastern extensions of the deposit towards the Aegean Zone, and BD21011 drilled to increase confidence in future Mineral Resource estimates. The Northwest Zone starts approximately 30 metres below the base of the proposed Bowdens Silver open pit. This mineralised zone is being targeted for potential high-grade silver underground mining scenarios. The zone is defined as 1 metre to 20 metres thick, 200 metres in width (east to west) and continues down plunge/dip to thenorthwest for at least 300 metres. This zone is not yet closed off with BD21006 expanding the zone to 230 metres width and crossing the Gully Fault. Mineralisation has been intersected in two clear horizons in BD21006 with significant results of 2.0 metres @ 443 g/t silver equivalent (146 g/t silver, 3.80% lead, 3.43% zinc and 0.25 g/t gold) from 212 metres, 8.3 metres @ 354 g/t silver equivalent (276 g/t silver, 2.15% lead, 0.1% zinc and 0.31 g/t gold) from 263 metres, and 1.0 metre @ 377 g/t silver equivalent (315 g/t silver, 1.78% lead 0.05% zinc and 0.22 g/t gold) from 276 metres.
Gold is associated with silver mineralisation towards the east, and in higher concentrations in the centre of the Northwest Zone. Drilling in the Northwest High-Grade Zone has intersected breccia and veined sulphides dominated by silver sulphides, galena (lead sulphide) and sphalerite (zinc sulphide) within the welded tuff of the Rylstone Volcanics. Mineralisation intersected in BD21011 of 13.0 metres @ 264 g/t silver equivalent (188 g/t silver, 1.66% lead, 0.4% zinc and 0.16 g/t gold) from 207 metres and 4.0 metres @ 264 g/t silver equivalent (188 g/t silver, 2.01% lead, 0.18% zinc) from 239 metres increase confidence that the zones have good lateral continuity.
The Aegean Zone, situated below Main Zone, is sub-horizontal with a steepening of plunge to the north and defined over 150 metres in strike towards the north-northwest. It is some 50 metres in width and ranges from 2 to 8 metres thickness.
The Northwest High-Grade Zone and Aegean Zone intercepts are at similar elevations and dominantly near the welded tuff and crystal tuff contact, which steepens to the north. Here thefavourable geology, proximity to faults and zoning of alteration highlight this untested area to be an excellent target for high grade silver. Drilling is ongoing to prove the continuity between these two bodies below the Ore Reserve.
About the Bowdens Silver Project
The Bowdens Silver Project is located in central New South Wales, approximately 26 kilometres east of Mudgee. The consolidated project area comprises 2,007 km2 (496,000 acres) of titles covering approximately 80 kilometres of strike of the highly mineralised Rylstone Volcanics. Multiple target styles and mineral occurrences have potential throughout the district including analogues to Bowdens Silver, high-grade silver-lead-zinc epithermal and volcanogenic massive sulphide (VMS) systems and copper-gold targets. Bowdens Silver is the largest undeveloped silver deposit in Australia with substantial resources and a considerable body of high-quality technical work already completed. The projects boast outstanding logistics for future mine development.
This document has been authorised for release to the ASX by the Company's Managing Director, Mr
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