SVL: Annual Report to shareholders
Original announcement by asx on
- Company
- Silver Mines Limited
- Ticker
- SVL
- Exchange
- ASX
- Region
- New South Wales, Australia
- Primary commodity
- Silver
- Secondary commodities
- Zinc, Lead, Gold
- Document categories
- Resource update, Drill results, Capital raise
- Extracted
- 2026-09-30 00:14:02 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Silver Mines Limited's annual report highlights a year of substantial progress, driven by a Definitive Feasibility Study for its Bowdens Silver Project that confirmed robust economics and a significant increase in Ore Reserves to 93.5 million ounces of silver. The company also reported a record-breaking high-grade silver drill intercept, expanded its portfolio with strategic acquisitions in North America, and successfully completed capital raises to fund ongoing development and exploration. Regulatory approvals for Bowdens are advancing, with a final determination anticipated by year-end 2026.
Reasoning: The annual report details significant advancements at the flagship Bowdens Silver Project, including a robust DFS, increased Ore Reserves, and a high-grade drill intercept, alongside strategic acquisitions and successful capital raises, positioning the company for future development despite ongoing regulatory processes.
Positive factors
- Significant increase in Ore Reserves to 93.5 million ounces of silver, representing one of the largest undeveloped primary silver projects globally.
- Definitive Feasibility Study (DFS) confirmed robust economics with a pre-tax NPV5% of A$1.04 billion and an IRR of 31.5%.
- Reported a high-grade drill intercept of 116m @ 245g/t Ag, including 4m @ 2,247g/t Ag, the highest-grade mineralised intercept ever recorded at the Bowdens Silver Deposit.
- Strategic land acquisition adjacent to Bowdens enhances water security, biodiversity options, and future infrastructure flexibility.
- Successful capital raises through placement and share purchase plan, and royalty buy-backs, strengthening the company's financial position.
- Progress in regulatory approvals for the Bowdens Silver Project, with DPHI reaffirming its approvable status.
Negative factors
- Gold was removed from the silver equivalent calculation in the 2026 MRE, leading to a decrease in reported gold grade and AgEq values, though explained by processing flowsheet optimization.
- Stage 2 of the Life of Mine (LOM) plan is at a pre-feasibility study level, introducing a higher level of uncertainty compared to the DFS for Stage 1.
- Overall grade decline in both resource and reserve estimates compared to previous studies, despite tonnage and contained metal growth.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 79
Extracted facts
Stored fact records: 79. Some facts used in scoring do not have a stored record.
Drill Results (3)
BD25007Bowdens · silverGrade: 2247Grade Unit: g/tIntercept: 4 mView all detailsHide details
Identity
- Hole ID
- BD25007
- Project
- Bowdens
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- SVL
Geometry
- Grade
- 2247
- Grade Unit
- g/t
- Intercept
- 4 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- BD25007:null-null
Location
- Location
- Main Zone
- Loc. Source
- document
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, duplicates
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This sub-interval is an outstanding bonanza-grade silver intercept, significantly enhancing the overall value and prospectivity of the Bowdens Silver Project.
Positive factors
- Extremely high-grade silver intercept of 2,247 g/t over 4m, representing a bonanza zone within the broader intercept.
- This is a highly material and novel result, indicating exceptional mineralization.
Negative factors
- True width not stated, implying it is an apparent downhole width.
Evidence · text
“4m @ 2,247g/t Ag, 2.37% Pb & 1.03% Zn”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "For personal use only 17Silver Mines Limited Annual Report 2026 REVIEW OF OPERATIONS Table 8: Bowdens Silver Project Eco"
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Bonanza InterceptRejected · positive
Exceptionally high-grade zone, well above the deposit-type norm.
Reason: The intercept of 2,247 g/t Ag over 4m is an exceptionally high-grade bonanza zone.
Evidence · text
“4m @ 2,247g/t Ag, 2.37% Pb & 1.03% Zn”
QA/QC DisclosedRejected · positive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Reason: Quality control on resource drill programs have been undertaken to industry standards with implementation of appropriate drilling type, survey data collection, assay standards, sample duplicates and repeat analyses.
Evidence · text
“Quality control on resource drill programs have been undertaken to industry standards with implementation of appropriate drilling type, survey data collection, assay standards, sample duplicates and repeat analyses.”
Apparent Width OnlyRejected · negative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Reason: The intercept is given as downhole length with no true width or drill orientation stated.
Evidence · text
“4m @ 2,247g/t Ag, 2.37% Pb & 1.03% Zn”
BD25007Bowdens · leadGrade: 2.37Grade Unit: %Intercept: 4 mView all detailsHide details
Identity
- Hole ID
- BD25007
- Project
- Bowdens
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- SVL
Geometry
- Grade
- 2.37
- Grade Unit
- %
- Intercept
- 4 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- BD25007:null-null
Location
- Location
- Main Zone
- Loc. Source
- document
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, duplicates
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This sub-interval shows very high-grade lead mineralization, reinforcing the polymetallic nature of the overall intercept and its positive implications for the project.
Positive factors
- Very high-grade lead intercept of 2.37% over 4m, within the broader 116m intercept.
- This sub-interval contributes significantly to the polymetallic nature of the discovery.
Negative factors
- True width not stated, implying it is an apparent downhole width.
Evidence · text
“4m @ 2,247g/t Ag, 2.37% Pb & 1.03% Zn”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "For personal use only 17Silver Mines Limited Annual Report 2026 REVIEW OF OPERATIONS Table 8: Bowdens Silver Project Eco"
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
QA/QC DisclosedRejected · positive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Reason: Quality control on resource drill programs have been undertaken to industry standards with implementation of appropriate drilling type, survey data collection, assay standards, sample duplicates and repeat analyses.
Evidence · text
“Quality control on resource drill programs have been undertaken to industry standards with implementation of appropriate drilling type, survey data collection, assay standards, sample duplicates and repeat analyses.”
Apparent Width OnlyRejected · negative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Reason: The intercept is given as downhole length with no true width or drill orientation stated.
Evidence · text
“4m @ 2,247g/t Ag, 2.37% Pb & 1.03% Zn”
BD25007Bowdens · zincGrade: 1.03Grade Unit: %Intercept: 4 mView all detailsHide details
Identity
- Hole ID
- BD25007
- Project
- Bowdens
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- SVL
Geometry
- Grade
- 1.03
- Grade Unit
- %
- Intercept
- 4 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- BD25007:null-null
Location
- Location
- Main Zone
- Loc. Source
- document
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, duplicates
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This sub-interval shows very high-grade zinc mineralization, reinforcing the polymetallic nature of the overall intercept and its positive implications for the project.
Positive factors
- Very high-grade zinc intercept of 1.03% over 4m, within the broader 116m intercept.
- This sub-interval contributes significantly to the polymetallic nature of the discovery.
Negative factors
- True width not stated, implying it is an apparent downhole width.
Evidence · text
“4m @ 2,247g/t Ag, 2.37% Pb & 1.03% Zn”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "For personal use only 17Silver Mines Limited Annual Report 2026 REVIEW OF OPERATIONS Table 8: Bowdens Silver Project Eco"
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
QA/QC DisclosedRejected · positive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Reason: Quality control on resource drill programs have been undertaken to industry standards with implementation of appropriate drilling type, survey data collection, assay standards, sample duplicates and repeat analyses.
Evidence · text
“Quality control on resource drill programs have been undertaken to industry standards with implementation of appropriate drilling type, survey data collection, assay standards, sample duplicates and repeat analyses.”
Apparent Width OnlyRejected · negative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Reason: The intercept is given as downhole length with no true width or drill orientation stated.
Evidence · text
“4m @ 2,247g/t Ag, 2.37% Pb & 1.03% Zn”
Resource Estimates (76)
provenBowdens Silver Project · silverTonnes: 44600000Grade: 88.5Grade Unit: mozContained Metal: 88.5Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:b577430ff4bc5dcdb1d0
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 44600000
- Grade
- 88.5
- Grade Unit
- moz
- Contained Metal
- 88.5
- Contained Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 31300000
- Prior Grade
- 68.7
- Prior Contained Metal
- 69.6
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained silver with high confidence, despite a decrease in grade compared to the prior estimate.
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained silver metal of 88.5 Moz in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“88.5”
Context: 44.6
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 88.5 against 68.7 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · zincTonnes: 44600000Grade: 165Grade Unit: ktContained Metal: 165Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:b577430ff4bc5dcdb1d0
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 44600000
- Grade
- 165
- Grade Unit
- kt
- Contained Metal
- 165
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 31300000
- Prior Grade
- 0.38
- Prior Contained Metal
- 121
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained zinc with high confidence, despite a slight decrease in grade compared to the prior estimate.
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained zinc metal of 165 kt in the Proved category.
Negative factors
- Grade declined by 3% compared to the previous estimate.
Evidence · table
“165”
Context: 44.6
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 165 against 0.38 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · leadTonnes: 44600000Grade: 122Grade Unit: ktContained Metal: 122Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:b577430ff4bc5dcdb1d0
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 44600000
- Grade
- 122
- Grade Unit
- kt
- Contained Metal
- 122
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 31300000
- Prior Grade
- 0.3
- Prior Contained Metal
- 94
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained lead with high confidence, despite a decrease in grade compared to the prior estimate.
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained lead metal of 122 kt in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“122”
Context: 44.6
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 122 against 0.3 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · silverTonnes: 3300000Grade: 4.9Grade Unit: mozContained Metal: 4.9Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:0090c28ed7e2fa4be609
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 3300000
- Grade
- 4.9
- Grade Unit
- moz
- Contained Metal
- 4.9
- Contained Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 1300000
- Prior Grade
- 50.6
- Prior Contained Metal
- 2.1
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate.
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“4.9”
Context: 3.3
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The estimate is classified as 'Probable' Ore Reserve, indicating reasonable confidence in economic viability.
Evidence · table
“Probable”
Context: 3.3
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · zincTonnes: 3300000Grade: 7Grade Unit: ktContained Metal: 7Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:0090c28ed7e2fa4be609
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 3300000
- Grade
- 7
- Grade Unit
- kt
- Contained Metal
- 7
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 1300000
- Prior Grade
- 0.19
- Prior Contained Metal
- 2.5
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained zinc with reasonable confidence, and an increase in grade compared to the prior estimate.
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained zinc metal of 7 kt in the Probable category.
- Grade increased by 11% compared to the previous estimate.
Evidence · table
“7”
Context: 3.3
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The estimate is classified as 'Probable' Ore Reserve, indicating reasonable confidence in economic viability.
Evidence · table
“Probable”
Context: 3.3
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · leadTonnes: 3300000Grade: 5Grade Unit: ktContained Metal: 5Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:0090c28ed7e2fa4be609
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 3300000
- Grade
- 5
- Grade Unit
- kt
- Contained Metal
- 5
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 1300000
- Prior Grade
- 0.16
- Prior Contained Metal
- 2
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained lead with reasonable confidence, despite a decrease in grade compared to the prior estimate.
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained lead metal of 5 kt in the Probable category.
Negative factors
- Grade declined by 6% compared to the previous estimate.
Evidence · table
“5”
Context: 3.3
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The estimate is classified as 'Probable' Ore Reserve, indicating reasonable confidence in economic viability.
Evidence · table
“Probable”
Context: 3.3
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 5 against 0.16 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · silverTonnes: 47900000Grade: 93.5Grade Unit: mozContained Metal: 93.5Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:a7ad87d984089a94eb71
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 47900000
- Grade
- 93.5
- Grade Unit
- moz
- Contained Metal
- 93.5
- Contained Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 32600000
- Prior Grade
- 68
- Prior Contained Metal
- 71.7
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total Ore Reserve shows a substantial increase in contained silver and tonnage, despite an overall grade decline, reinforcing the project's global significance.
Positive factors
- Total Ore Reserve of 93.5 Moz silver is globally significant.
- Overall tonnage increased by 46%.
Negative factors
- Overall grade declined by 11% compared to the previous estimate.
Evidence · table
“93.5”
Context: 47.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 93.5 against 68 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · zincTonnes: 47900000Grade: 172Grade Unit: ktContained Metal: 172Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:a7ad87d984089a94eb71
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 47900000
- Grade
- 172
- Grade Unit
- kt
- Contained Metal
- 172
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 32600000
- Prior Grade
- 0.38
- Prior Contained Metal
- 123.5
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total Ore Reserve shows a substantial increase in contained zinc and tonnage, despite an overall grade decline.
Positive factors
- Total Ore Reserve shows a significant contained zinc metal of 172 kt.
- Overall tonnage increased by 46%.
Negative factors
- Overall grade declined by 5% compared to the previous estimate.
Evidence · table
“172”
Context: 47.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 172 against 0.38 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · leadTonnes: 47900000Grade: 127Grade Unit: ktContained Metal: 127Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:a7ad87d984089a94eb71
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 47900000
- Grade
- 127
- Grade Unit
- kt
- Contained Metal
- 127
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 32600000
- Prior Grade
- 0.29
- Prior Contained Metal
- 96
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total Ore Reserve shows a substantial increase in contained lead and tonnage, despite an overall grade decline.
Positive factors
- Total Ore Reserve shows a significant contained lead metal of 127 kt.
- Overall tonnage increased by 46%.
Negative factors
- Overall grade declined by 10% compared to the previous estimate.
Evidence · table
“127”
Context: 47.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 127 against 0.29 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · silverTonnes: 105000000Grade: 139Grade Unit: mozContained Metal: 139Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:0713c2f7242a27300ec2
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 105000000
- Grade
- 139
- Grade Unit
- moz
- Contained Metal
- 139
- Contained Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 100000000
- Prior Grade
- 42
- Prior Contained Metal
- 135
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a substantial amount of contained silver with the highest confidence, and an increase in tonnage, despite a slight decrease in grade.
Positive factors
- Measured Resource category indicates highest confidence.
- Significant contained silver metal of 139 Moz in the Measured category.
- Tonnage increased by 5%.
Negative factors
- Grade declined by 2% compared to the previous estimate.
Evidence · table
“139”
Context: 105
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 139 against 42 previously
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 139 from 135
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · zincTonnes: 105000000Grade: 377Grade Unit: ktContained Metal: 377Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:0713c2f7242a27300ec2
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 105000000
- Grade
- 377
- Grade Unit
- kt
- Contained Metal
- 377
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 100000000
- Prior Grade
- 0.37
- Prior Contained Metal
- 368
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a substantial amount of contained zinc with the highest confidence, and an increase in tonnage, despite a slight decrease in grade.
Positive factors
- Measured Resource category indicates highest confidence.
- Significant contained zinc metal of 377 kt in the Measured category.
- Tonnage increased by 5%.
Negative factors
- Grade declined by 3% compared to the previous estimate.
Evidence · table
“377”
Context: 105
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 377 against 0.37 previously
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 377 from 368
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · leadTonnes: 105000000Grade: 270Grade Unit: ktContained Metal: 270Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:0713c2f7242a27300ec2
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 105000000
- Grade
- 270
- Grade Unit
- kt
- Contained Metal
- 270
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 100000000
- Prior Grade
- 0.27
- Prior Contained Metal
- 265
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a substantial amount of contained lead with the highest confidence, and an increase in tonnage, despite a slight decrease in grade.
Positive factors
- Measured Resource category indicates highest confidence.
- Significant contained lead metal of 270 kt in the Measured category.
- Tonnage increased by 5%.
Negative factors
- Grade declined by 4% compared to the previous estimate.
Evidence · table
“270”
Context: 105
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 270 against 0.27 previously
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 270 from 265
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · goldTonnes: 105000000Grade: 0.02Grade Unit: g/tContained Metal: 81Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:0713c2f7242a27300ec2
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 105000000
- Grade
- 0.02
- Grade Unit
- g/t
- Contained Metal
- 81
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 100000000
- Prior Grade
- 0.03
- Prior Contained Metal
- 109
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a significant decline in gold grade and contained metal, primarily due to its exclusion from the AgEq calculation and processing flowsheet optimization, which negatively impacts its economic contribution.
Positive factors
- Measured Resource category indicates highest confidence.
- Tonnage increased by 5%.
Negative factors
- Gold grade declined by 33% compared to the previous estimate.
- Contained gold metal declined by 26% compared to the previous estimate.
- Gold is no longer included in the silver equivalent formula due to processing flowsheet optimization.
Evidence · table
“0.02”
Context: 105
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 81 from 109
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · silverTonnes: 38000000Grade: 29Grade Unit: mozContained Metal: 29Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:420f6067c3431ef9790f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 38000000
- Grade
- 29
- Grade Unit
- moz
- Contained Metal
- 29
- Contained Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 43000000
- Prior Grade
- 22
- Prior Contained Metal
- 30
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category.
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“29”
Context: 38
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · zincTonnes: 38000000Grade: 163Grade Unit: ktContained Metal: 163Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:420f6067c3431ef9790f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 38000000
- Grade
- 163
- Grade Unit
- kt
- Contained Metal
- 163
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 43000000
- Prior Grade
- 0.41
- Prior Contained Metal
- 176
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category.
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 7%.
Evidence · table
“163”
Context: 38
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · leadTonnes: 38000000Grade: 110Grade Unit: ktContained Metal: 110Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:420f6067c3431ef9790f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 38000000
- Grade
- 110
- Grade Unit
- kt
- Contained Metal
- 110
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 43000000
- Prior Grade
- 0.28
- Prior Contained Metal
- 121
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category.
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 4% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 9%.
Evidence · table
“110”
Context: 38
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · goldTonnes: 38000000Grade: 0.08Grade Unit: g/tContained Metal: 103Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:420f6067c3431ef9790f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 38000000
- Grade
- 0.08
- Grade Unit
- g/t
- Contained Metal
- 103
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 43000000
- Prior Grade
- 0.11
- Prior Contained Metal
- 152
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows a significant decline in gold grade and contained metal, primarily due to its exclusion from the AgEq calculation and processing flowsheet optimization, which negatively impacts its economic contribution.
Positive factors
- Indicated Resource category provides reasonable geological confidence.
Negative factors
- Gold grade declined by 27% compared to the previous estimate.
- Contained gold metal declined by 32% compared to the previous estimate.
- Gold is no longer included in the silver equivalent formula due to processing flowsheet optimization.
Evidence · table
“0.08”
Context: 38
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · silverTonnes: 143000000Grade: 168Grade Unit: mozContained Metal: 168Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:9f2924cf2d4d3a2c09be
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 143000000
- Grade
- 168
- Grade Unit
- moz
- Contained Metal
- 168
- Contained Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 143000000
- Prior Grade
- 36
- Prior Contained Metal
- 165
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The combined M&I resource demonstrates a significant contained silver metal and an increase in grade, indicating overall positive development in the higher confidence categories.
Positive factors
- Combined Measured and Indicated (M&I) resource shows a significant contained silver metal of 168 Moz.
- Grade increased by 10% compared to the previous estimate.
Evidence · table
“168”
Context: 143
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · zincTonnes: 143000000Grade: 540Grade Unit: ktContained Metal: 540Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:9f2924cf2d4d3a2c09be
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 143000000
- Grade
- 540
- Grade Unit
- kt
- Contained Metal
- 540
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 143000000
- Prior Grade
- 0.38
- Prior Contained Metal
- 544
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The combined M&I resource demonstrates a significant contained zinc metal, with stable grade but a slight decline in contained metal.
Positive factors
- Combined Measured and Indicated (M&I) resource shows a significant contained zinc metal of 540 kt.
Negative factors
- Contained metal declined by 1%.
Evidence · table
“540”
Context: 143
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 540 against 0.38 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · leadTonnes: 143000000Grade: 380Grade Unit: ktContained Metal: 380Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:9f2924cf2d4d3a2c09be
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 143000000
- Grade
- 380
- Grade Unit
- kt
- Contained Metal
- 380
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 143000000
- Prior Grade
- 0.27
- Prior Contained Metal
- 386
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The combined M&I resource demonstrates a significant contained lead metal, with stable grade but a slight decline in contained metal.
Positive factors
- Combined Measured and Indicated (M&I) resource shows a significant contained lead metal of 380 kt.
Negative factors
- Contained metal declined by 2%.
Evidence · table
“380”
Context: 143
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 380 against 0.27 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · goldTonnes: 143000000Grade: 0.04Grade Unit: g/tContained Metal: 184Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:9f2924cf2d4d3a2c09be
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 143000000
- Grade
- 0.04
- Grade Unit
- g/t
- Contained Metal
- 184
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 143000000
- Prior Grade
- 0.06
- Prior Contained Metal
- 261
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The combined M&I resource shows a significant decline in gold grade and contained metal, primarily due to its exclusion from the AgEq calculation and processing flowsheet optimization, which negatively impacts its economic contribution.
Positive factors
- Combined Measured and Indicated (M&I) resource.
Negative factors
- Gold grade declined by 33% compared to the previous estimate.
- Contained gold metal declined by 29% compared to the previous estimate.
- Gold is no longer included in the silver equivalent formula due to processing flowsheet optimization.
Evidence · table
“0.04”
Context: 143
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · silverTonnes: 30000000Grade: 16Grade Unit: mozContained Metal: 16Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f2bbfe6bd77efe3d67f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 16
- Grade Unit
- moz
- Contained Metal
- 16
- Contained Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 36000000
- Prior Grade
- 16
- Prior Contained Metal
- 16
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome.
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“16”
Context: 30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The estimate is classified as 'Inferred' Mineral Resource, indicating a speculative category.
Evidence · table
“Inferred”
Context: 30
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · zincTonnes: 30000000Grade: 134Grade Unit: ktContained Metal: 134Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f2bbfe6bd77efe3d67f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 134
- Grade Unit
- kt
- Contained Metal
- 134
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 36000000
- Prior Grade
- 0.42
- Prior Contained Metal
- 152
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows an increase in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category.
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
- Grade increased by 5%.
Negative factors
- Tonnage declined by 17%.
- Contained metal declined by 12%.
Evidence · table
“134”
Context: 30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The estimate is classified as 'Inferred' Mineral Resource, indicating a speculative category.
Evidence · table
“Inferred”
Context: 30
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · leadTonnes: 30000000Grade: 101Grade Unit: ktContained Metal: 101Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f2bbfe6bd77efe3d67f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 101
- Grade Unit
- kt
- Contained Metal
- 101
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 36000000
- Prior Grade
- 0.32
- Prior Contained Metal
- 115
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows an increase in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category.
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
- Grade increased by 3%.
Negative factors
- Tonnage declined by 17%.
- Contained metal declined by 12%.
Evidence · table
“101”
Context: 30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The estimate is classified as 'Inferred' Mineral Resource, indicating a speculative category.
Evidence · table
“Inferred”
Context: 30
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · goldTonnes: 30000000Grade: 0.12Grade Unit: g/tContained Metal: 118Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f2bbfe6bd77efe3d67f
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 0.12
- Grade Unit
- g/t
- Contained Metal
- 118
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 36000000
- Prior Grade
- 0.14
- Prior Contained Metal
- 166
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a significant decline in gold grade and contained metal, primarily due to its exclusion from the AgEq calculation and processing flowsheet optimization, which negatively impacts its economic contribution.
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Gold grade declined by 14% compared to the previous estimate.
- Contained gold metal declined by 29% compared to the previous estimate.
- Gold is no longer included in the silver equivalent formula due to processing flowsheet optimization.
Evidence · table
“0.12”
Context: 30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The estimate is classified as 'Inferred' Mineral Resource, indicating a speculative category.
Evidence · table
“Inferred”
Context: 30
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · silverTonnes: 173000000Grade: 184Grade Unit: mozContained Metal: 184Contained Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:71a6f17ec5ca80873329
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 173000000
- Grade
- 184
- Grade Unit
- moz
- Contained Metal
- 184
- Contained Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 179000000
- Prior Grade
- 31
- Prior Contained Metal
- 188
Metal Equivalent
- Metal Eq. Grade
- 51
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total Mineral Resource shows an increase in grade but a decline in tonnage and contained metal, indicating a mixed outcome for the overall resource.
Positive factors
- Total Mineral Resource shows a significant contained silver metal of 184 Moz.
- Grade increased by 6% compared to the previous estimate.
Negative factors
- Tonnage declined by 3%.
- Contained metal declined by 2%.
Evidence · table
“184”
Context: 173
Tags used in scoring
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document presents an updated Mineral Resource Estimate for the Bowdens Silver Deposit.
Evidence · text
“On 21 July 2026, the Company announced an updated Ore Reserve Estimate (“2026 Reserve”) and Mineral Resource Estimate (“2026 MRE”) for the Bowdens Silver Deposit.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · zincTonnes: 173000000Grade: 674Grade Unit: ktContained Metal: 674Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:71a6f17ec5ca80873329
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 173000000
- Grade
- 674
- Grade Unit
- kt
- Contained Metal
- 674
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 179000000
- Prior Grade
- 0.39
- Prior Contained Metal
- 696
Metal Equivalent
- Metal Eq. Grade
- 51
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total Mineral Resource shows stable grade but a decline in tonnage and contained metal, indicating a mixed outcome for the overall resource.
Positive factors
- Total Mineral Resource shows a significant contained zinc metal of 674 kt.
Negative factors
- Tonnage declined by 3%.
- Contained metal declined by 3%.
Evidence · table
“674”
Context: 173
Tags used in scoring
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document presents an updated Mineral Resource Estimate for the Bowdens Silver Deposit.
Evidence · text
“On 21 July 2026, the Company announced an updated Ore Reserve Estimate (“2026 Reserve”) and Mineral Resource Estimate (“2026 MRE”) for the Bowdens Silver Deposit.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 674 against 0.39 previously
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · leadTonnes: 173000000Grade: 481Grade Unit: ktContained Metal: 481Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:71a6f17ec5ca80873329
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 173000000
- Grade
- 481
- Grade Unit
- kt
- Contained Metal
- 481
- Contained Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 179000000
- Prior Grade
- 0.28
- Prior Contained Metal
- 501
Metal Equivalent
- Metal Eq. Grade
- 51
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total Mineral Resource shows stable grade but a decline in tonnage and contained metal, indicating a mixed outcome for the overall resource.
Positive factors
- Total Mineral Resource shows a significant contained lead metal of 481 kt.
Negative factors
- Tonnage declined by 3%.
- Contained metal declined by 3%.
Evidence · table
“481”
Context: 173
Tags used in scoring
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document presents an updated Mineral Resource Estimate for the Bowdens Silver Deposit.
Evidence · text
“On 21 July 2026, the Company announced an updated Ore Reserve Estimate (“2026 Reserve”) and Mineral Resource Estimate (“2026 MRE”) for the Bowdens Silver Deposit.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 481 against 0.28 previously
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · goldTonnes: 173000000Grade: 0.05Grade Unit: g/tContained Metal: 302Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:71a6f17ec5ca80873329
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 173000000
- Grade
- 0.05
- Grade Unit
- g/t
- Contained Metal
- 302
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
- Prior Tonnes
- 179000000
- Prior Grade
- 0.07
- Prior Contained Metal
- 397
Metal Equivalent
- Metal Eq. Grade
- 51
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The total Mineral Resource shows a significant decline in gold grade and contained metal, primarily due to its exclusion from the AgEq calculation and processing flowsheet optimization, which negatively impacts its economic contribution.
Negative factors
- Gold grade declined by 29% compared to the previous estimate.
- Contained gold metal declined by 29% compared to the previous estimate.
- Gold is no longer included in the silver equivalent formula due to processing flowsheet optimization.
Evidence · table
“0.05”
Context: 173
Tags used in scoring
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document presents an updated Mineral Resource Estimate for the Bowdens Silver Deposit.
Evidence · text
“On 21 July 2026, the Company announced an updated Ore Reserve Estimate (“2026 Reserve”) and Mineral Resource Estimate (“2026 MRE”) for the Bowdens Silver Deposit.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Fact 30Bowdens Silver ProjectView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Reporting standards
- jorc
- Resource group id
- resource:c986af6b5c8067716525
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: This substantial A$70 million placement, with strong institutional support, provides significant capital to fund key project milestones and strategic initiatives, marking a highly positive financial development for the company.
Positive factors
- Successfully raised A$70 million, indicating very strong investor support from highly credentialed investors.
- Funds will be used for critical project development, royalty buy-backs, exploration, and working capital, significantly advancing the company's strategic goals.
Negative factors
- A portion of the placement (Tranche 2 and Director Placement Shares) is subject to shareholder approval, introducing a minor element of uncertainty.
Evidence · text
“On 23 September 2026, the company announced that it had received firm commitments for a two‑tranche Placement of $70 million (before costs) to institutional and sophisticated investors (“Placement”). The Placement was well supported with demand in excess of funds raised by the Company. The Company is pleased that the Placement saw strong support from a number of highly credentialled investors both locally and internationally. The Company has received firm commitments for a $70 million placement at $0.145 per share. The Placement was supported by both existing shareholders and new investors. The Placement will result in the issue of 482,758,621 fully paid ordinary shares (“New Shares”). The placement is expected to be completed in two tranches. On 29 September, 277,733,713 of the New Shares were issued unconditionally to institutional, professional and sophisticated investors who are not Directors or related parties of the Company (“Tranche 1 Placement Shares”) using the Company’s available placement capacity (under ASX Listing Rule 7.1). 205,024,908 of the New Shares will be issued as follows: (a) 204,335,252 New Shares to institutional, professional and sophisticated investors who are not Directors or related parties of the Company (“Tranche 2 Placement Shares”); and (b) 689,656 New Shares to Directors (or their nominees) who have participated in the Placement (“Director Placement Shares”). The Tranche 2 Placement Shares and Director Placement Shares will be issued subject to shareholder approval at the Company’s annual general meeting of shareholders (“Meeting”). The Company will provide an update to the market once it is in a position to hold the Meeting. Settlement of the Tranche 1 Placement Shares took place on Monday, 28 September 2026 with the Tranche 1 Placement Shares expected issued on Tuesday, 29 September 2026. Petra Capital acted as Sole Lead Manager and Sole Bookrunner to the Placement and Morgans Corporate Limited acted as a Co‑Manager to the Placement.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · silverTonnes: 5000000Grade: 3Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b9645a6bb7db3e3acbb6
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 5000000
- Grade
- 3
- Grade Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a substantial amount of contained silver with the highest confidence, and an increase in tonnage, despite a slight decrease in grade. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Measured Resource category indicates highest confidence.
- Significant contained silver metal of 139 Moz in the Measured category.
- Tonnage increased by 5%.
Negative factors
- Grade declined by 2% compared to the previous estimate.
Evidence · table
“+3%”
Context: +5%
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · zincTonnes: 5000000Grade: 2Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b9645a6bb7db3e3acbb6
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 5000000
- Grade
- 2
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a substantial amount of contained silver with the highest confidence, and an increase in tonnage, despite a slight decrease in grade. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Measured Resource category indicates highest confidence.
- Significant contained silver metal of 139 Moz in the Measured category.
- Tonnage increased by 5%.
Negative factors
- Grade declined by 2% compared to the previous estimate.
Evidence · table
“+2%”
Context: +5%
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · leadTonnes: 5000000Grade: 2Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b9645a6bb7db3e3acbb6
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 5000000
- Grade
- 2
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a substantial amount of contained silver with the highest confidence, and an increase in tonnage, despite a slight decrease in grade. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Measured Resource category indicates highest confidence.
- Significant contained silver metal of 139 Moz in the Measured category.
- Tonnage increased by 5%.
Negative factors
- Grade declined by 2% compared to the previous estimate.
Evidence · table
“+2%”
Context: +5%
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBowdens Silver Project · goldTonnes: 5000000Grade: 33Grade Unit: g/tContained Metal: 26Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b9645a6bb7db3e3acbb6
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 5000000
- Grade
- 33
- Grade Unit
- g/t
- Contained Metal
- 26
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Measured Resource shows a substantial amount of contained silver with the highest confidence, and an increase in tonnage, despite a slight decrease in grade. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Measured Resource category indicates highest confidence.
- Significant contained silver metal of 139 Moz in the Measured category.
- Tonnage increased by 5%.
Negative factors
- Grade declined by 2% compared to the previous estimate.
Evidence · table
“‑33%”
Context: +5%
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · silverTonnes: 5000000Grade: 1Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f62b84a21d359a54b9ae
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 5000000
- Grade
- 1
- Grade Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑1”
Context: ‑5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · zincTonnes: 5000000Grade: 13Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f62b84a21d359a54b9ae
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 5000000
- Grade
- 13
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑13”
Context: ‑5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · leadTonnes: 5000000Grade: 11Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f62b84a21d359a54b9ae
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 5000000
- Grade
- 11
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑11”
Context: ‑5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · goldTonnes: 5000000Grade: 0.03Grade Unit: g/tContained Metal: 49Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f62b84a21d359a54b9ae
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 5000000
- Grade
- 0.03
- Grade Unit
- g/t
- Contained Metal
- 49
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑0.03”
Context: ‑5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · silverTonnes: 0Grade: 2Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:e856f8b63bf945a3b15d
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 0
- Grade
- 2
- Grade Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“+2%”
Context: 0%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · zincTonnes: 0Grade: 1Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:e856f8b63bf945a3b15d
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 0
- Grade
- 1
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑1%”
Context: 0%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · leadTonnes: 0Grade: 2Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:e856f8b63bf945a3b15d
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 0
- Grade
- 2
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑2%”
Context: 0%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · goldTonnes: 0Grade: 33Grade Unit: g/tContained Metal: 29Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:e856f8b63bf945a3b15d
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 0
- Grade
- 33
- Grade Unit
- g/t
- Contained Metal
- 29
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“+33%”
Context: 0%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · silverTonnes: 6000000Grade: 4Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b547826bc867f77d71a8
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 6000000
- Grade
- 4
- Grade Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“+4”
Context: ‑6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · zincTonnes: 6000000Grade: 22Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b547826bc867f77d71a8
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 6000000
- Grade
- 22
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑22”
Context: ‑6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · leadTonnes: 6000000Grade: 20Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b547826bc867f77d71a8
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 6000000
- Grade
- 20
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑20”
Context: ‑6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · goldTonnes: 6000000Grade: 0.02Grade Unit: g/tContained Metal: 124Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:b547826bc867f77d71a8
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 6000000
- Grade
- 0.02
- Grade Unit
- g/t
- Contained Metal
- 124
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑0.02”
Context: ‑6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · silverTonnes: 12000000Grade: 3Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f75bade0e33022da924
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 12000000
- Grade
- 3
- Grade Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑3%”
Context: ‑12%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · zincTonnes: 12000000Grade: 7Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f75bade0e33022da924
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 12000000
- Grade
- 7
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑7%”
Context: ‑12%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · leadTonnes: 12000000Grade: 9Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f75bade0e33022da924
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 12000000
- Grade
- 9
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑9%”
Context: ‑12%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBowdens Silver Project · goldTonnes: 12000000Grade: 27Grade Unit: g/tContained Metal: 32Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:8f75bade0e33022da924
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 12000000
- Grade
- 27
- Grade Unit
- g/t
- Contained Metal
- 32
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Indicated Resource shows an improvement in grade but a decline in tonnage and contained metal, indicating a mixed outcome for this category. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource category provides reasonable geological confidence.
- Grade increased by 5% compared to the previous estimate.
Negative factors
- Tonnage declined by 12%.
- Contained metal declined by 3%.
Evidence · table
“‑27%”
Context: ‑12%
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · silverTonnes: 17000000Grade: 0Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:bfed2d3e59f89d6bbd1e
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 0
- Grade Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“0%”
Context: ‑17%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · zincTonnes: 17000000Grade: 12Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:bfed2d3e59f89d6bbd1e
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 12
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑12%”
Context: ‑17%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · leadTonnes: 17000000Grade: 12Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:bfed2d3e59f89d6bbd1e
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 12
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑12%”
Context: ‑17%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · goldTonnes: 17000000Grade: 14Grade Unit: g/tContained Metal: 29Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:bfed2d3e59f89d6bbd1e
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 14
- Grade Unit
- g/t
- Contained Metal
- 29
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑14%”
Context: ‑17%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · silverTonnes: 3000000Grade: 2Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f2ee817797b76f2bd945
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 3000000
- Grade
- 2
- Grade Unit
- moz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑2%”
Context: ‑3%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · zincTonnes: 3000000Grade: 3Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f2ee817797b76f2bd945
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 3000000
- Grade
- 3
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑3%”
Context: ‑3%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · leadTonnes: 3000000Grade: 3Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f2ee817797b76f2bd945
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 3000000
- Grade
- 3
- Grade Unit
- kt
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑3%”
Context: ‑3%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBowdens Silver Project · goldTonnes: 3000000Grade: 29Grade Unit: g/tContained Metal: 29Contained Unit: kozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- resource
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Arnold van der Heyden
- Resource group id
- resource:f2ee817797b76f2bd945
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 3000000
- Grade
- 29
- Grade Unit
- g/t
- Contained Metal
- 29
- Contained Unit
- koz
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Inferred Resource shows a decline in both tonnage and grade, indicating a reduction in the speculative resource, which is a negative outcome. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource category indicates potential for future conversion to higher confidence categories.
Negative factors
- Tonnage declined by 17%.
- Grade declined by 14%.
Evidence · table
“‑29%”
Context: ‑3%
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · silverTonnes: 13100000Grade: 18.9Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:d90a645520c928f32bb5
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 13100000
- Grade
- 18.9
- Grade Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained silver with high confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained silver metal of 88.5 Moz in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“+18.9”
Context: +13.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · zincTonnes: 13100000Grade: 44.2Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:d90a645520c928f32bb5
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 13100000
- Grade
- 44.2
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained silver with high confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained silver metal of 88.5 Moz in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“+44.2”
Context: +13.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · leadTonnes: 13100000Grade: 28.5Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:d90a645520c928f32bb5
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 13100000
- Grade
- 28.5
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained silver with high confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained silver metal of 88.5 Moz in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“+28.5”
Context: +13.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · silverTonnes: 2000000Grade: 2.8Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:00e4c2cb6c95a47df4eb
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 2000000
- Grade
- 2.8
- Grade Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+2.8”
Context: +2.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · zincTonnes: 2000000Grade: 4.5Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:00e4c2cb6c95a47df4eb
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 2000000
- Grade
- 4.5
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+4.5”
Context: +2.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · leadTonnes: 2000000Grade: 3Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:00e4c2cb6c95a47df4eb
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 2000000
- Grade
- 3
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+3.0”
Context: +2.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · silverTonnes: 15100000Grade: 21.8Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:6a73c5e4880ffad5d59d
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 15100000
- Grade
- 21.8
- Grade Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+21.8”
Context: +15.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · zincTonnes: 15100000Grade: 48.7Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:6a73c5e4880ffad5d59d
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 15100000
- Grade
- 48.7
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+48.7”
Context: +15.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · leadTonnes: 15100000Grade: 31.5Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:6a73c5e4880ffad5d59d
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 15100000
- Grade
- 31.5
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+31.5”
Context: +15.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · silverTonnes: 42000000Grade: 27Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:edf8a62540440dd430a4
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 42000000
- Grade
- 27
- Grade Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained silver with high confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained silver metal of 88.5 Moz in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“+27%”
Context: +42%
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · zincTonnes: 42000000Grade: 37Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:edf8a62540440dd430a4
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 42000000
- Grade
- 37
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained silver with high confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained silver metal of 88.5 Moz in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“+37%”
Context: +42%
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenBowdens Silver Project · leadTonnes: 42000000Grade: 30Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:edf8a62540440dd430a4
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 42000000
- Grade
- 30
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Proved Reserve shows a substantial amount of contained silver with high confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Proved Reserve category indicates high confidence in economic viability.
- Significant contained silver metal of 88.5 Moz in the Proved category.
Negative factors
- Grade declined by 10% compared to the previous estimate.
Evidence · table
“+30%”
Context: +42%
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · silverTonnes: 154000000Grade: 133Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:4a84317e539422840259
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 154000000
- Grade
- 133
- Grade Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+133%”
Context: +154%
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · zincTonnes: 154000000Grade: 180Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:4a84317e539422840259
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 154000000
- Grade
- 180
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+180%”
Context: +154%
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · leadTonnes: 154000000Grade: 150Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:4a84317e539422840259
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 154000000
- Grade
- 150
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+150%”
Context: +154%
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · silverTonnes: 46000000Grade: 30Grade Unit: mozView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:02f7305c965082e07565
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 46000000
- Grade
- 30
- Grade Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+30%”
Context: +46%
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · zincTonnes: 46000000Grade: 39Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:02f7305c965082e07565
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 46000000
- Grade
- 39
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+39%”
Context: +46%
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBowdens Silver Project · leadTonnes: 46000000Grade: 33Grade Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-07-21T00:00:00.000Z
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr Andrew Hutson
- Resource group id
- resource:02f7305c965082e07565
- Mining method
- combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 46000000
- Grade
- 33
- Grade Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-21
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: The Probable Reserve shows a substantial amount of contained silver with reasonable confidence, despite a decrease in grade compared to the prior estimate. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Probable Reserve category indicates reasonable confidence in economic viability.
- Significant contained silver metal of 4.9 Moz in the Probable category.
Negative factors
- Grade declined by 7% compared to the previous estimate.
Evidence · table
“+33%”
Context: +46%
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.