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Silver Mines Ltd.
Summary
| Project: | Bowdens | |
|---|---|---|
| Deposit: | Bowdens | |
| Location: | Australia | |
| Commodities: | Silver-Zinc-Lead | |
| Date: | 9/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-9-2017: Silver Mines Ltd. announces a Resource Estimation report for its Bowdens deposit at the Bowdens project. Mineral resource update proposes increase of AgEq oz contained at project by 51% . Silver Mines Limited (ASX:SVL) (“Silver Mines” or “the | |
| Resources: | (Resource, Total): 127.9Mt @ 39.6g/t Ag, 0.38% Zn, 0.265 Pb (for a 30g/t AgEq cut-off) at Bowdens | |
| CP/QP: | [Resources]: Arnold van der Heyden (H & S Consultants Pty Ltd.) | |
| ABSTRACT: | Silver Mines Limited (ASX:SVL) (“Silver Mines” or “the Company”) is pleased to provide an update on Mineral Resources for the Bowdens Silver Project located near Mudgee in New South Wales. The Bowdens Mineral Resource Estimate has been updated by H&S Consultants using Multiple Indicator Kriging and the reporting is compliant with the 2012 JORC Code and Guidelines. Please refer to Tables 1 and 2 and Appendix 1 for further details. The updated resource is the result of additional drilling conducted in 2013 by Kingsgate Consolidated (13 drill holes for 2,440 metres) and most recently by Silver Mines (127 drill holes for 22,531 metres) over the past 12 months. This additional information includes 86 reverse circulation drill holes for 10,848 metres and 54 diamond core holes for 14,123 metres. The updated Mineral Resource Estimate compares to the previous estimate (October 2012) of 88 million tonnes @ 64g/t Ag Eq for 182Moz silver equivalent. The September 2017 update is a 45% increase in tonnes, a 4% increase in silver equivalent grade, a 22% increase in silver ounces and a 51% increase in silver equivalent ounces. In addition, the Measured and Indicated component of the total resource has increased from 59% to 82% (refer Table 3). The majority of the increase is the result of resource extensions at depth beneath the northern portion of the deposit and more notably beneath the Bundarra Lens to the northwest. Additional resource extensions also occur down plunge to the northwest. | |
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