Silver Mines Advances Californian Silver-Gold Projects with High-Grade Assays and Drilling Plans

Calico North Delivers High-Grade Silver and Critical Barite Assays

Silver Mines Limited (ASX:SVL) has reported compelling surface sampling results from its Calico North Project in California’s Mojave Desert, with assays revealing silver grades as high as 1960 g/t and barite concentrations exceeding 44.8%. These findings come from a recent three-week field mapping program that collected 219 rock samples, highlighting multiple clusters of high-grade mineralisation scattered across nearly 40 kilometres of prospective strike.

The Calico North area, historically a prolific silver camp with over 20 million ounces mined in the late 19th century, continues to show promise with low-sulphidation epithermal silver mineralisation closely associated with barite, now classified as a critical mineral in the US. The presence of barite, with assays topping 44%, adds a strategic dimension to the project given current US critical mineral priorities.

A spectral survey conducted alongside fieldwork identified alteration zones that align with the mapped veins, enhancing drill targeting precision. Silver Mines anticipates the release of a USGS Skytem electromagnetic and magnetic survey in the latter half of 2026, which will cover Calico North and the nearby Kramer Hills Project. This geophysical data is expected to refine drill plans further, with phase one drilling preparations already underway.

Kramer Hills Confirms Gold Potential with Structural Targets Defined

At the Kramer Hills Project, also in San Bernardino County, Silver Mines has completed field mapping and a ground magnetic survey that confirmed key structural targets west of the historic Shaherald Pit. The project area, covering approximately 48 square kilometres, includes mining claims and real property at the past-producing Shaherald oxide gold mine.

Verification sampling returned gold assays up to 1.52 g/t, supporting historical records of oxide gold mineralisation along a 2.7-kilometre structural corridor. The fault zone extends over 7 kilometres with historical mine shafts scattered across 4 kilometres, indicating significant untested potential. Snowden Optiro’s preliminary review of historical metallurgical data found no red flags that would impede future economic recovery, despite past heap leach processing challenges in the 1980s.

Silver Mines plans to commence phase one drilling around mid-2026, pending permitting, aiming to test multiple previously permitted open-pit locations and extensions of the mineralised fault system. The company has also completed an ecological survey and is preparing detailed drill targeting based on integrated geological and geophysical data.

Strategic Positioning in a Mineral-Rich Region

Both projects are strategically located in a mineral-rich corridor near the Nevada border, surrounded by notable operations such as Equinox Gold’s Castle Mountain Mine and Rio Tinto’s Borax Mine. Silver Mines’ Managing Director Jo Battershill emphasised the rapid progress made since acquiring the Californian assets, noting the systematic approach to defining drilling targets through mapping, sampling, and geophysics.

While Silver Mines advances its US projects, the company remains committed to progressing its flagship Bowdens Silver Project in Australia, where recent drilling has delivered record silver intercepts amid ongoing regulatory processes. This dual focus underscores Silver Mines’ diversified exploration strategy across key jurisdictions.

This update follows the company’s earlier ##exploration portfolio transformation announcement##(2924-03079329-2A1666789), reinforcing the step-change in its asset base and exploration momentum.