Silver Mines Limited reports promising results from a recent drilling program at its Tuena Project, revealing significant gold and base metal mineralisation along a key fault corridor in New South Wales.
- Seven diamond drillholes completed on EL9588 targeting gold and base metals
- High-grade intercept of 10m at 20.7g/t gold at Elsienora Prospect
- Multiple mineralised zones identified at Barite, Pickers, Cuddyong, and Nobbs Reef
- Drilling confirms mineralised system along Godolphin-Copperhania Fault corridor
- Plans for follow-up drilling to explore underexplored areas and expand targets
Exploration Context and Location
Silver Mines Limited has provided an update on its exploration activities at the Tuena Project, located in the Southern Tablelands of New South Wales, approximately 180 kilometres west of Sydney. The project comprises five exploration licences strategically positioned along the Godolphin-Copperhania Fault corridor, a region known for hosting significant mineral deposits such as McPhillamy’s Gold and Kempfield to the north, and Cullarin to the south.
Recent Drilling Program and Key Results
The company recently completed a seven-hole diamond drilling program on licence EL9588, targeting gold, silver, and base metal mineralisation across five identified prospects with historic workings and anomalous assays. The drilling, totalling 1,705 metres, focused on the Pickers, Barite, and Elsienora prospects. Among the standout results was a high-grade intercept at Elsienora, delivering 10 metres at 20.7 grams per tonne gold from 36 metres depth. Other notable intercepts included broad zones of lower-grade mineralisation with associated silver, lead, and zinc, highlighting a mineralised system extending over a 5-kilometre zone within the fault corridor.
Broader Mineralisation and Historical Data
In addition to the recent drilling, Silver Mines referenced historical data from the Cuddyong and Nobbs Reef prospects, which showed encouraging gold intercepts such as 29 metres at 1.53 grams per tonne gold from surface at Cuddyong. The combined data suggest a consistent, though generally low-grade, mineralised system with pockets of higher-grade mineralisation. The structural complexity of the region, with multiple fault sets and folding, appears to control the distribution of mineralisation, presenting opportunities for targeted exploration.
Strategic Significance and Next Steps
Managing Director Jo Battershill emphasised the strategic value of the Elsienora acquisition and the broader Tuena Project, noting the area's historical mining legacy and underexplored potential. The recent drilling results validate the technical team's prospectivity assessment and justify further exploration. Silver Mines plans to conduct follow-up drilling to fill data gaps, particularly between prospects where historic holes were not assayed for gold, and to develop new targets across the remaining four exploration licences within the project.
Market Context and Outlook
The exploration update arrives amid record-high gold and silver prices, enhancing the economic attractiveness of the Tuena Project. While the current results are exploratory and do not yet define a resource, they lay a solid foundation for advancing the project. Silver Mines’ broader portfolio, including the Bowdens Silver Project, positions the company well within the NSW mineral exploration landscape.
Bottom Line?
Silver Mines’ Tuena Project drilling confirms a promising mineralised system, setting the stage for expanded exploration amid favourable market conditions.
Questions in the middle?
- What are the timelines and targets for the next phase of drilling at Tuena?
- How might the structural complexity influence the discovery of higher-grade zones?
- What are the implications of these results for Silver Mines’ overall resource development strategy?