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Silver Mines Ltd.
Summary
| Project: | Bowdens | |
|---|---|---|
| Deposit: | Bowdens | |
| Location: | Australia | |
| Commodities: | Silver-Zinc-Lead | |
| Date: | 5/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-5-2018: Silver Mines Ltd. announces a Resource Estimation report for its Bowdens deposit at the Bowdens project. Initial ore reserve estimate for Bowdens. Silver Mines Limited (‘Silver Mines’ or ‘the Company’) (ASX:SVL) is pleased to announce a maiden | |
| 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 a maiden Ore Reserve for its Bowdens Silver deposit, located 26 kilometres east of Mudgee in New South Wales. The maiden Ore Reserve supports Bowdens’ 16-year mine life, detailed in the soon to be released Feasibility Study. The Bowdens Ore Reserve is estimated at 29.9 million tonnes at 69.0 g/t silver, 0.44% zinc and 0.32% lead for 66.32 million ounces of silver, 130.8 kilotonnes of zinc and 95.3 kilotonnes of lead in contained metal. The Ore Reserve estimate was prepared by renowned mining engineering consultancy firm AMC Consultants Pty Ltd (AMC Consultants) and is based on the September 2017 Mineral Resource Estimate generated for Silver Mines by H & S Consultants Pty Ltd (H & S Consultants) (see ASX announcement 19 September 2017) Measured and Indicated Mineral Resources were converted to Proved and Probable Ore Reserves respectively, subject to mine designs, modifying factors and economic evaluation. The Ore Reserve estimate for the Bowdens Silver Project as at May 2018 is outlined in Table 1 below: Anthony McClure, Silver Mines Managing Director, said: “Releasing the maiden Ore Reserve for Bowdens, is a major milestone in progressing this highquality Project towards future development. 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. There also remains the potential for substantial growth through the near mine and northern porphyry precious and base metals targets that we are currently assessing.” | |
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