Silver Mines fields best-ever Bowdens silver hit, confirms system beneath planned pit

• Record-breaking 28,378 gram metres intercept eclipses the previous Bowdens best by more than 8,000 gram metres
• Results indicate significant mineralisation extending below the current pit design, supporting further resource growth as Silver Mines plans more exploration
• Drilling provides critical data ahead of mine design finalisation, offtake discussions and targeted 2026 infill/extension programs

Special Report: Silver Mines has pulled its best ever mineralised intercept in the 36-year history of the Bowdens deposit in NSW, with an eye-popping 116m at 245g/t silver from just 75m.

This result from Australia’s largest undeveloped silver deposit is among a swathe of strong numbers from a 13-hole, 2,226m program designed to collect material for the first decade of production rather than chase high-grade zones.

The geometallurgical and geotechnical diamond campaign has instead delivered the largest mineralised intercept ever recorded at Bowdens, near Mudgee.

The headline hit from the Main Zone also contained 0.48% lead and 0.29% zinc and included 28m at 185g/t Ag, 0.46% Pb and 0.24% Zn, and 35m at 412g/t Ag, 0.79% Pb and 0.35% Zn.

At 28,378 gram metres, the intercept eclipses the previous record — 145m at 144g/t silver drilled in 2003 — by more than 8,000 gram metres.

Silver Mines (ASX:SVL) designed the program to test within the current resource as well as  below the base of the already large ore reserve open pit mine design.

Results from this testing indicate that significant mineralisation continues at depth, boosting the case for future reserve expansion.

Another hole returned 58m at 121g/t Ag, 0.27% Pb and 0.39% Zn from surface (6,997 gram metres Ag), with 28m of this below the current ore reserve.

Other standout intercepts in the resource below the pit design include 78m at 39g/t Ag, 0.11% Pb and 0.29% Zn from only 106m, including multiple high-grade 1–2m structures up to 155g/t Ag.

Infill and extension plans

Silver Mines says the results back up its plan to begin targeted infill and extension drilling in 2026 with a focus on expanding high-grade domains within the Bowdens orebody and across adjacent, parallel mineralised structures.

Bowdens consolidated project area covers 2,115km2 of the highly mineralised Rylstone Volcanics, a district with multiple silver-lead-zinc, copper-gold and VMS-style targets.

The project has a current resource of 180Moz silver (334Moz silver equivalent) and a 71.7Moz reserve with robust economics set out in its December 2024 Optimisation Study based on an outdated silver price of just US$29/oz.

The results have come back from the lab just as silver has been elevated to critical mineral status in the US, where Silver Mines has recently made acquisitions of highly prospective projects.

Silver is also included in the NSW Critical Minerals and High-Tech Metals list due to its importance to clean energy and other new economy technologies.

World-class results

“It’s quite unbelievable that even after 36 years of exploration, resource, infill and extensional drilling at the Bowdens Silver Deposit, we have just drilled the largest ever silver mineralised intercept at this incredible deposit!” MD Jo Battershill said.

“These results are validation of the quality of the Bowdens Silver Deposit and of the hard work and targeting the technical team have undertaken to deliver this program.

“With the release of the Mineral Resource and Ore Reserve Estimates in December 2024, and in conjunction with the Optimisation Study, we are well advanced in final mine designs and product specifications.

“This program will provide invaluable information for potential off-take partners and the final tailings analysis.

“In an environment of record silver and gold prices, Bowdens is incredibly well positioned within the global silver sector – and it is very pleasing to be able to release such spectacular drilling results.

“The team will now return to designing additional drilling programs to target higher-grade areas both within the current resource and in adjacent structures to the Bowdens Silver Deposit.

Battershill said Bowdens was one of the most advanced silver development projects both on the ASX and globally.

“When combined with the project’s tier one jurisdiction and recent American project acquisitions, we believe Silver Mines represents a compelling opportunity worldwide.”

This article was developed in collaboration with Silver Mines, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.