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Bonanza silver hits near historic NSW mine
Junior precious metals explorer Silver Mines says that it had picked up bonanza silver grades from new drill core analysis at its Webbs South silver prospect in NSW.
Posted: Wednesday , 21 Apr 2010
Silver Mines Ltd (ASX: SVL) said that handheld XRF had been used by the company in the last 18 months with good correlation between laboratory assays and field analysis.
The latest XRF analysis from hole RC76 took in 12 metres from 161m depth grading 1,901 grams/tonne silver (93.8 oz), 2.6% copper, 9.9% zinc and 0.1% lead, and within thise there were three 1m intercepts grading 3,124.8 oz Ag (100.5 oz), 4.6% Cu, 14.1% Zn; 4,435.3 oz Ag (142.6 oz), 6.9% Cu, 13.5% Zn and 3,443.5 g/t Ag (110.7 oz), 6.3% Cu, 24% Zn and 0.1% Pb.
The company said this hole was further south along strike than earlier high grade hits and the grades were picked up less than 100m vertical below surface and could offer an open cut mining model.
New drill sites were being prepared to test IP anomalies north of the historic Webbs silver mine.
Webbs South is one of four prospects near the old silver mine that has produced significant results for the company, which is working towards developing a JORC Code resource.