Silver Mines diamond drilling shines with hits of up to 3 metres at 1,302 g/t silver at Bowdens Project in NSW

Silver Mines Ltd’s (ASX:SVL) (OTCMKTS:SLVMF) diamond drilling program at Bowdens Silver Project near Mudgee in Central West New South Wales has intersected up to 3 metres at 1,302 g/t silver within 8 metres at 543 g/t silver from 307 metres.

Assays returned from drill hole BD21003 have established the Aegean Zone at Bowdens as a target for underground mining scenarios.

Investors have responded positively to the drilling results with shares as much as 8.2% higher to 26.5 cents, up from 20 cents at the market close on March 5.

High-grade body of silver mineralisation

The latest results when combined with previous results define the Aegean Zone as a high-grade body of silver mineralisation with a strike length of 150 metres, a width of 50 metres and two to eight metres thick.

Aegean Zone is around 300 metres to the east of the Northwest High-Grade Zone, where recent drilling also returned what the company believes to be “spectacular” results.

Further drilling is underway to test the relationship and potential connectivity of the Aegean and Northwest High-Grade zones.

Potential pit design extensions 

Additionally, drilling results to the north of the Main Zone and close to surface have confirmed that the Main Zone remains open to the northwest of the current ore reserve.

Results include 113.3 metres at 113 g/t silver equivalent from 60.7 metres and 174 metres at 30 g/t silver equivalent.

These intersections demonstrate the potential to extend beyond the proposed pit design.

Further exploration

Drilling continues to test other high-grade silver targets around the current resource and extensions with a focus on the Northwest High-Grade Zone and Aegean Zone.

The base metal and gold-bearing Bundarra zone remain open to the south and down-dip to the west of previous drilling, with BD20001 drilled in early 2020 proving the Bowdens system is developed extensively at depth to the west.

Story by ProactiveInvestors