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Silver Mines (ASX:SVL) - Managing Director, Anthony McClure - The Market Herald
Managing Director, Anthony McClure
Source: Finance News Network
  • Silver Mines (SVL) has lodged a development application and environmental impact statement for the Bowdens Silver Project in New South Wales
  • The Bowdens Silver Project claims to be the largest undeveloped silver deposit in Australia
  • Silver is proposing to develop an open-cut mine with a two million tonne per annum processing plant
  • During a 16.5-year project life, planned production is roughly 66 million ounces of silver, 130,000 tonnes of zinc and 95,000 tonnes of lead
  • The company claims the mine will generate local jobs, will ethically source water and will have minimal impacts to species and land
  • Following the release of this announcement, Silver Mines entered a trading halt and shares last traded at 12.5 cents each

Silver Mines (SVL) has lodged a development application (DA) and environmental impact statement (EIS) for the Bowdens Silver Project in New South Wales.

The company lodged these applications with the New South Wales Department of Planning, Industry and Environment.

The Bowdens Silver Project claims to be the largest undeveloped silver deposit in Australia and lies within Silver's 100 per cent-owned exploration licence 5920.

Silver Mines intends to develop an open-cut mine feeding a new processing plant with a conventional milling circuit and differential flotation to produce two concentrates that will be sold for smelting off-site.

The plant is designed to have a capacity of two million tonnes per annum with a project life of 16.5 years. Life of mine production is planned to be roughly 66 million ounces of silver, 130,000 tonnes of zinc and 95,000 tonnes of lead.

"The announcement today is a major milestone for the company and represents the culmination of years of diligent work," Managing Director Anthony McClure said.

"It is a huge achievement for all involved, with particular thanks going to our dedicated local staff and the specialty technical consultants who have worked on the EIS," Anthony added.

Key components of the EIS include local job creation, no human physical risks, sourcing surplus water from nearby coalfields through a dedicated water pipeline, minimal impacts on surface and groundwater during and after project activities, and no significant impacts on the land or species.

In collaboration with the Aboriginal community, Silver will provide a "Keeping Place" for salvaged artefacts, so these can be returned to the final landform once mining operations have completed. Other sites that were identified, but would not be disturbed, would be protected for the life of the Mine.

To guide these activities, an Aboriginal Cultural Heritage Management Plan will be developed.

Following the release of this announcement, Silver Mines entered a trading halt. Shares last traded this morning at 12.5 cents each.


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