Silver Mines (SVL)

Shares / Stock Code

SVL

Stock Exchange / Sharemarket

Australian Securities Exchange

Silver Mines (SVL) is a silver (Ag) explorer that is primarily focused on exploring and developing its silver-rich polymetallic assets in the New England region of northern New South Wales (NSW), Australia. The company’s strategy is to rapidly develop its flagship Webbs Silver Project and, in doing so, earn a near-term cash flow to support further exploration of the company’s tenements.

The Company sees the Webbs Silver Project as potentially being amenable to open pit mining methods making it a very attractive opportunity at the current inferred grade of over 200g/t silver. The project has also delivered positive metallurgical results for standard flotation. The focus in the short term is continue to drill and expand the existing resource inventory and increase the level of confidence in the resource to indicated category and above.

As of June 30, 2009, the Company has completed over 4500 meters of reverse circulation (RC) drilling and 1264 meters of diamond drilling at four prospects surrounding the Webbs Silver Mine. The company was listed on Australian Stock Market on 19 January, 2007.

Webbs Silver Project (EL5674)

Webbs Silver Project Global inferred resource estimate (dated August 2008) of 670,000 tonnes at 210g/t silver (6.8 ounces per tonne silver) for 4.5 million ounces of silver.
Webbs Silver South Prospect inferred resource (which is part of the Global estimate above) of 510,000 tonnes at 230g/t silver (7.4 ounces per tonne silver) for 3.8 million ounces of silver. Copper, zinc and lead provide significant value to the Inferred Resource representing 40% of the calculated value is this model.

Exploration Licence EL 20/2008

SVL has been granted EL No. 20/2008 covering an area of 15 square kilometres in Western Tasmania southwest of the Rosebery mine. The area was previously held by Zinifex Australia Limited and lies within the most mineralised sector of the Mount Read Volcanics Belt, which hosts three of Tasmania's six world class ore bodies. Half of the tenement is underlain by the Middle to Late Cambrian Mt Reed Volcanics, which are highly prospective for volcanic hosted massive sulphide (VHMS) and gold deposits. The tenement contains 28 known mineralised sites, mostly described as prospects or historic workings including Devonian copper, copper-gold and lead-zinc-silver vein systems.

This project is an important component of SVL's growth as it provides a new highly prospective tenement outside the New England area whilst maintaining the focus on high grade silver rich mineralisation. The Company plans to begin exploration on this project in the Spring.

Silver Mines (SVL) Products and Services

  • Exploring for silver-rich deposits in Australia.

Silver Mines (SVL) Locations and Subsidiaries

Silver Mines Head Office
Suite 102, 109 Alexander Street, CROWS NEST,
NSW, AUSTRALIA, 2065
Phone: (02) 9436 0533
Fax: (02) 9436 0688

Silver Mines (SVL) Share Price

Submitted by ASX Listed Company on 30 May, 2010 - 19:36

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