Silver Mines Limited
Silver Mines Limited
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Australian explorer Lode Resources aims to overcome erratic markets for silver and the metallurgical challenges for achieving optimum recovery from its silver-rich discoveries in the New England belt stretching south into NSW. Ross Louthean reports
Australian explorer Silver Mines is studying potential underground mining scenarios for its 100%-owned Bowdens silver project in central NSW, launching a scoping study into the potential for a new mine development that could begin in year 3-4 of its planned openpit operation 26km E of Mudgee.
Explorer Silver Mines has moved a further step on the road to advancing Australia’s largest undeveloped silver deposit with the lodging of a mining lease application for its 100%-owned Bowdens project 26km E of Mudgee in central NSW.
It follows the submission of its environmental impact statement in May for the proposed opencut mine and 2Mtpa plant designed to produce 66Moz silver, 130,000t zinc and 95,000t lead over a mine life of 16.5 years.
Australian explorer Thomson Resources has made what exec chairman David Williams considers a “transformational step” with agreement to acquire 100% ownership of two silver projects notable for historical high-grade production in the New England region of NSW.
Thomson will issue 75M shares and pay about $A0.3M to Silver Mines for the Webbs (1.5Mt @ 345g/t for 16.5Moz silver equivalent) and Conrad (2.65Mt @ 206g/t for 178.5Moz AgEq).
Australian explorer Silver Mines has raised $A12M to support pre-development work at its 100%-owned Bowdens silver project, its proposed 3.4Mozpa development near Mudgee in central NSW.
The placement of 120M shares at 10cps to institutional, professional and sophisticated investors coincides with the lodging of SVL’s development application and EIS for Australia’s largest undeveloped silver deposit with state planners.
Preparations for Australia’s largest undeveloped silver deposit is a step closer with Silver Mines in the final stages of preparing an EIS for its 100%-owned Bowdens project about 26km E of Mudgee in the NSW Central Tablelands.
SVL expects to lodge the study, mining lease and development applications with state planners in this year.
Bowden’s mid-2018 feasibility study outlined a 2Mtpa openpit mine producing 53Moz silver, 116,000t zinc and 83,000t lead over a 17-year mine life.
SVL has exceeded expectations by lifting silver-equivalent resources by 51% to 275Moz (128Mt @ 67g/t AgEq) as it works to complete a DFS in early 2018 on the proposed openpit mine development of its 100%-owned Bowdens deposit near Mudgee in NSW, Australia. Measured and indicated resources now comprise 82% of the total.
The resource, calculated by H&S Consultants after extensive infill and extensional drilling, includes a higher-grade core of 158Moz (46Mt @ 106g/t) in the eastern and northern areas.
An initial ore reserve at Bowdens is expected late this year.
SVL is rushing to resume work on Australia's largest undeveloped silver project after completing its acquisition of 100% of the Bowdens deposit near Mudgee in NSW.
With substantial work completed on all aspects of mine development, SVL aims to complete the PFS by end-2016 and its EIS in the first half of 2017 while significant drilling is planned to increase and upgrade resources.
Australian explorer Silver Mines has upped its interest in the Bowdens silver project in central NSW, reaching agreement with Kingsgate Consolidated to acquire 100% for $A25M. The deal incorporated a last-minute switch from the previously agreed acquisition of 85% interest for $20M.
MD Anthony McClure says the consolidation allows substantially greater flexibility around developing and financing Australia's largest undeveloped silver project.
Australian explorer Silver Mines has attracted 14 specialist natural resources funds for a $A35M placement to complete the acquisition of 85% of the Bowdens silver project in central NSW from Kingsgate Consolidated.
The placement of 233.3M shares at 15cps will cover the remaining $18M of the $20M purchase price, complete feasibility and environmental impact statements and an aggressive exploration program.