Silver Mines (ASX:SVL, PLUS:SVLP) has received a brace of good news including encouraging metallurgical results as well as a silver sample sent to Canada that registered over 11,000 grams per tonne silver (Ag) from the Webbs silver deposit.
Ahead of an update to the resource base for the Webbs deposit, further assay results are pending.
Preliminary metallurgical results conducted into the cyanide solubility of silver at the Webbs deposit.indicates that mineralisation at Webbs may be amenable to cyanide leaching.
While more testwork is required, this could lead to the possible production of silver doré, a significant positive impact for the project.
A doré bar is a semi-pure alloy of gold and silver, usually created at the site of a mine. It is then transported to a refinery for further purification. Doré bars weigh as much as 25 kg.
Meanwhile latest drilling results have been received from Webbs.
The diamond drill holes were designed to infill the previous reverse circulation (RC) drill pattern, twin RC holes in order to assist in geological interpretation and test deeper targets. Drill core samples will also be used for metallurgical testwork.
The two of nineteen recently completed diamond drill holes results:
- 6.9 metres at 213g/t silver, 0.12% copper, 0.79% lead and 0.83% zinc from 21.1 metres, including 1.0m @ 1130g/t Ag, 0.46% Cu, 1.50% Pb and 1.51% Zn from 26.0m
- 17.4 metres at 194g/t silver, 0.18% copper, 0.46% lead and 1.43% zinc from 30 metres, including 9.0m @ 308g/t Ag, 0.28% Cu, 0.44% Pb and 1.77% Zn from 35m
While one other hole, the sample result which was received in November, was a corker and although only 1 metre in width returned an assay of 10,000 grams per tonne silver or 1% silver.
Of interest, 10,000g/t silver is the highest grade that can be reported from the laboratory used by Silver Mines.
So Silver Mines sent the November sample to a laboratory in Canada to obtain an accurate analysis. The assay returned was upgraded to 11,212g/t or 1.12% Ag. This value is the highest individual silver assay ever reported from Webbs to date.
The current drill results continue the very high grade silver drill results from Webbs. In November, these included 14 metres at 1,809g/t silver and 7.3 metres at 538g/t silver.
Silver Mine's chief executive officer, Charles Straw should have a busy new year ahead if the near term timetable is anything to go by.
An updated resource estimate for the Webbs deposit is currently being prepared.
Further assay results for several key diamond drill holes are awaited. These will be fed into the resource estimate.
The resource estimate upgrade is likely to be released in early 2012.
Drill core is also being used to formulate metallurgical samples upon which additional metallurgical testwork will be conducted to pre-feasibility level. This work will include flotation testwork and additional testwork on pre-treatment of concentrate and cyanide leaching of silver.
Additional drilling at Webbs is planned in early 2012 in order to expand the resource base. The drilling will test deeper high grade targets as well as several near surface gaps in the existing drill pattern.