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Silver Mines Ltd.
Summary
| Project: | Bowdens | |
|---|---|---|
| Deposit: | Bowdens | |
| Location: | Australia | |
| Commodities: | Silver-Zinc-Lead | |
| Date: | 6/14/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-6-2018: Silver Mines Ltd. announces a Feasibility Study report for its Bowdens deposit at the Bowdens project. Feasibility Study results incl. post-tax NPV of A $70.58M (5%), IRR of 17.9%, 16 yr LOM at project. Silver Mines Limited (‘Silver Mines or ‘t | |
| Resources: | (Reserve, P+P): 29.9Mt @ 69.01g/t Ag, 0.44% Zn, 0.32% Pb | |
| CP/QP: | [Overall Report]: Adrian Jones (AMC Consultants Pty Ltd.) | |
| ABSTRACT: | Silver Mines Limited (‘Silver Mines or ‘the Company’) (ASX:SVL) is pleased to announce the completion of the Feasibility Study for its 100% owned Bowdens Silver Project located 26 kilometres east of Mudgee in New South Wales. The Study is based on a maiden Ore Reserve of 29.9 million tonnes at 69.0 g/t silver, 0.44% zinc and 0.32% lead (see ASX announcement 30 May 2018) and is the culmination of approximately 18 months work by the Company and a team of leading specialist consultants. The Feasibility Study was managed by GR Engineering Services Limited (GR Engineering), an experienced and prominent engineering consultancy with appropriate processing and study management experience globally including substantial experience in silver and base metals. “Completing the Feasibility Study is a critical milestone in progressing this quality asset towards its future development. The Study provides solid backing for our submission of a Development Application to the New South Wales Government. With the Project clearly defined, we are moving to rapidly complete the Environmental Impact Statement. With an initial 16 year mine life, we see a robust operation with strong revenues particularly in the early years of the operation. However, the Project boasts considerable expansion opportunities, so we are likely to see the mine life grow over time. The project is highly leveraged to an accretive commodity price environment. For example, a 20% increase in the silver price and minor metals leads almost a 240% increase in the Project’s Net Present Value. We will continue to work on the substantial growth opportunities at Bowdens including the assessment of the high-grade extensional zone adjoining the current Ore Reserve area. Importantly, recent exploration work on the near-mine and northern porphyry precious and base metals targets has particular promise for substantial growth.” | |
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