Silver Mines Ltd (ASX:SVL) are updating their resources estimate for the Webbs' Silver Project in the New England region of northern New South Wales (NSW) after consultation with independent company GeoRes.
GeoRes has completed an assessment of the resources and this has resulted in the doubling of the previously inferred silver resource.
13,000 m of drilling that has been completed since 2007 have been incorporated into the new estimate along with some surface sampling and historical sampling from underground works. The update estimate is 1.23m tonnes at 256g/t silver (8.2 oz/t Ag), for 10.19m ounces of silver, plus 1.84% zinc, 0.79% lead and 0.28% copper.
The Webbs' Silver Project in New South Wales is 100% owned by Silver Mines. In view of the findings of the study now open pit optimizations will be done as part of the scoping study. The company expects to find near surface potential in un-drilled areas along the trend and above the deeper mineralised intersections.