Silver Mines Limited (ASX: SVL), a dedicated silver exploration and development company focused on advancing its Bowdens Silver Project in New South Wales, recently provided an update on its Mineral Resource Estimates (MRE) and ongoing Definitive Feasibility Study (DFS) planning. The announcement detailed outcomes from diamond drilling that informed updates to the oxide and transitional material surfaces at the project site.
These drilling activities have resulted in an increased proportion of transitional material within the updated estimates. However, the company noted that beyond this specific reclassification of surface materials, there has been little material change between the current and previous estimates. These updates are set to feed into the 2026 MRE, 2026 DFS, and future Reserve pit designs for the Bowdens Silver Project, indicating continued progress in the project’s development pipeline.
Comparing the 2026 MRE, reported above a 25g/t AgEq (2026) cut-off grade, with the 2024 MRE, which used a 30g/t AgEq (2024) cut-off, Silver Mines confirmed comparable tonnages and grades. A key difference highlighted was a marked decrease in gold grade within the new estimate, primarily because gold is no longer included in the revised silver equivalent formula.
The company further affirmed that previously reported Exploration Results, Mineral Resources, and Ore Reserves remain valid, with no new information materially affecting the original market announcements or the underlying assumptions and technical parameters. The information in the report adheres to JORC Code standards, with various Competent Persons overseeing aspects related to Mineral Resources, Exploration Results, and Ore Reserves.
