Silver Mines Pushes Bowdens and Tuena Projects Forward Amid Regulatory Review
Silver Mines Limited reports steady progress on its flagship Bowdens Silver Project and initiates diamond drilling at the Elsienora Gold Project, while navigating complex regulatory hurdles in New South Wales.
- Ongoing 2,000m diamond drilling and metallurgical testing at Bowdens Silver Project
- Submission of application to clarify Bowdens Project planning consent status post-court ruling
- Commencement of ~1,700m diamond drilling targeting McPhillamys-style gold mineralisation at Elsienora Project
- Strong cash position with A$23.3 million at quarter-end
- Continued community and government engagement alongside exploration activities
Progress at Bowdens Silver Project
Silver Mines Limited continues to advance its Bowdens Silver Project in New South Wales, Australia’s largest undeveloped silver deposit. During the March quarter, the company initiated a ~2,000 metre diamond drilling program focused on metallurgical sampling to support pilot beneficiation plant design. This program aims to optimize ore reserve conversion and refine plant operational parameters ahead of development.
The drilling targets extensions of high-grade mineralisation beneath existing open pit designs, with encouraging intercepts reported in recent announcements. These results could potentially increase the project’s Ore Reserves beyond the current 32.8 million tonnes containing 71.7 million ounces of silver, underpinning a robust project economics profile.
Regulatory Developments and Planning Consent
Following a NSW Court of Appeal decision that set aside the previous development consent granted by the Independent Planning Commission (IPC), Silver Mines has submitted an application to the Department of Planning, Infrastructure and Housing (DPHI) seeking clarity on whether the Bowdens Project constitutes a single development under the amended Environmental Planning and Assessment Act. This determination is critical for reinstating the project’s development approval and enabling progression toward construction and production.
The company continues to engage extensively with government departments, local communities, and stakeholders to navigate the regulatory landscape and advance the project’s consent process. The outcome of this application will be closely watched by investors as it directly impacts the project’s timeline and risk profile.
Exploration at Elsienora Gold Project
Silver Mines has also commenced diamond drilling at the Elsienora Project, part of its broader Tuena Gold Project portfolio located near Orange, NSW. The initial ~1,700 metre program targets prospects with potential for McPhillamys-style gold mineralisation, a highly sought-after deposit type in the region.
Historical drilling and surface sampling at Elsienora and adjacent prospects have returned significant gold and silver assays, supporting the company’s exploration thesis. This drilling campaign represents a key step in testing and potentially expanding the project’s gold resource base.
Financial Position and Outlook
Silver Mines reported a strong cash balance of A$23.3 million at the end of the quarter, providing a solid financial foundation to support ongoing exploration, development planning, and regulatory activities. The company recorded no production during the period, consistent with its development-stage status.
Exploration and evaluation expenditure totaled approximately A$3.2 million for the quarter, primarily directed at Bowdens and Tuena projects. Management remains focused on delivering value through resource growth, metallurgical advancements, and securing necessary approvals.
Looking ahead, Silver Mines plans to release further drilling results and metallurgical data, which will be pivotal in refining project economics and advancing development decisions.
Bottom Line?
Silver Mines stands at a pivotal juncture, balancing promising exploration progress with regulatory complexities that will shape its path to production.
Questions in the middle?
- When will the Department of Planning issue a final determination on Bowdens Project’s development consent status?
- How will upcoming metallurgical test results influence the design and economics of the Bowdens processing plant?
- What potential resource upgrades could arise from the ongoing drilling beneath Bowdens’ current open pit reserves?
