SVL: Sydney Mining Club - Investor Presentation
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, Copper
- Document categories
- Resource update, Permitting, Drill results, Metallurgy
- Extracted
- 2026-10-01 00:14:45 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Silver Mines Limited's investor presentation details the robust Definitive Feasibility Study (DFS) for its Bowdens Silver Project in New South Wales, Australia, confirming significant silver, zinc, and lead resources and reserves, a 26-year mine life, and strong financial metrics. The project's Ore Reserves have increased to 93.5 Moz Ag, and recent royalty buy-backs are expected to reduce the life-of-mine All-In Sustaining Costs (AISC). The permitting process is advancing, with a public hearing scheduled and a decision anticipated by December 2026. The presentation also includes historical gold drill results from the Kramer Hills project in the US, highlighting exploration potential.
Reasoning: The investor presentation highlights the strong economic fundamentals and significant resource base of the Bowdens Silver Project, supported by a recently completed DFS and increased Ore Reserves. Positive updates on permitting and royalty buy-backs further de-risk the project, despite some historical permitting challenges and the re-release of historical drill data for another project.
Positive factors
- Significant increase in contained silver in Ore Reserves (93.5 Moz Ag vs 71.7 Moz Ag previously)
- Robust DFS economics with a pre-tax NPV5% of A$1.04 billion and a 3.0-year payback period
- Long mine life of 26 years based on current reserves
- High confidence in resource categories with 143 Mt in Measured & Indicated categories
- Permitting process advancing with a public hearing scheduled and decision expected soon
- Royalty buy-backs reducing LOM AISC by approximately 4.0%
- Elimination of cyanide from the processing flowsheet, indicating a more environmentally friendly process
- Strong zinc recovery (90.5%) in metallurgical testwork
Negative factors
- Drill results presented for Kramer Hills are historical and lack true width disclosure and QA/QC information
- Permitting process has experienced past setbacks, including a court appeal suspension
- Silver and lead recoveries are moderate (82.1% Ag, 80.8% Pb) compared to strong benchmarks for flotation
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 28
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource Estimate and Ore Reserves are reported as compliant with the 2012 JORC Code and Guidelines.
Evidence · text
“The Bowdens Mineral Resource Estimate has been compiled by H&S Consultants Pty Ltd and the reporting is compliant with the 2012 JORC Code and Guidelines.”
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: The document refers to 'Competent Person's findings' for both Mineral Resources and Ore Reserves, indicating professional sign-off.
Evidence · text
“The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from those announcements.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The Mineral Resource Estimate is reported to a 25g/t AgEq cut off and Ore Reserves are calculated using a Net Smelter Return cut-off grade of A$30/t.
Evidence · text
“Bowdens Silver Mineral Resource Estimate reported to a 25g/t AgEq cut off”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The Ore Reserve estimate increased to 93.5 Moz Ag in July 2026 from 71.7 Moz Ag in December 2024.
Evidence · text
“Jul 2026 MRE (184Moz Ag1) ORE (93.5Moz Ag1) update; DFS completed1”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The MRE increased to 184 Moz Ag in July 2026 from 180 Moz Ag in December 2024.
Evidence · text
“Jul 2026 MRE (184Moz Ag1) ORE (93.5Moz Ag1) update; DFS completed1”
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: The resource and reserve estimates are part of the Definitive Feasibility Study (DFS) for the project.
Evidence · text
“Bowdens DFS Confirms Robust Economics as Reserves Increase”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document presents an update to the Mineral Resource and Ore Reserve estimates.
Evidence · text
“MRE (184Moz Ag1) ORE (93.5Moz Ag1) update; DFS completed1”
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: The drill results for Kramer Hills are explicitly stated as historical and refer to a previous announcement from June 2025.
Evidence · text
“Refer to Silver Mines Limited announcement “US Silver-Gold Acquisitions Transform Exploration Portfolio” dated 24 June 2025 for further details relating to significant intercepts.”
Apparent Width Onlynegative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Why it applies: The document explicitly states that 'All intersection lengths are downhole lengths, not true thicknesses' for the Kramer Hills drill results.
Evidence · text
“All intersection lengths are downhole lengths, not true thicknesses.”
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: The section presenting Kramer Hills drill results does not include any disclosure regarding QA/QC procedures.
Evidence · text
“Hole1 Section Depth (m) From (m) To (m) Length (m) Grade (g/t Au) KRH-17 22800 27.4 0 21.3 21.3 0.4”
Permitting Progresspositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The document outlines several positive steps in the permitting journey, including a determination from the NSW Planning Secretary and an upcoming public hearing.
Evidence · text
“Apr 2023 NSW State mine development approvals received”
Permitting Setbacknegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The Court of Appeal suspended the NSW approval consent in August 2024, indicating a significant challenge in the permitting process.
Evidence · text
“Aug 2024 Court of Appeal suspends the NSW approval consent”
Equity Placementneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The company announced a two-tranche equity placement to raise $70 million.
Evidence · text
“Two-tranche equity placement announced 23 September 2026 (“Silver Mines Receives Firm Commitments to Raise $70 Million’)”
Moderate Recoveryneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The modelled silver recovery of 82.1% and lead recovery of 80.8% are within the moderate band for flotation (80-85%).
Evidence · text
“Silver recovery modelled at 82.1% (Zn at 90.5% and Pb at 80.8%).”
Strong Recoverypositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The modelled zinc recovery of 90.5% is within the strong band for flotation (85-90%).
Evidence · text
“Silver recovery modelled at 82.1% (Zn at 90.5% and Pb at 80.8%).”
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: the document describes a heap_leach route ("heap leach")
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a flotation route ("flotation")
Extracted facts
Stored fact records: 28. Some facts used in scoring do not have a stored record.
Drill Results (1)
KRH-50Kramer Hills · goldGrade: 1.9Grade Unit: g/tIntercept: 12.2 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- KRH-50
- Project
- Kramer Hills
- Commodity
- gold
- Region
- california
- Reported Region
- california
- Ticker
- SVL
Geometry
- Grade
- 1.9
- Grade Unit
- g/t
- Intercept
- 12.2 m
- From
- 0 m
- To
- 12.2 m
- Intercept Depth
- 0 m
Classification
- Sample Type
- drill
- Group ID
- KRH-50:0-12.2
QA/QC
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-06-24T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows a moderate gold grade over a moderate length, but its value is limited by being re-released historical data with no true width or QA/QC information.
Negative factors
- Historical data re-released, not new results
- Apparent width only, true width not disclosed
- No QA/QC disclosure
Evidence · table
“1.9”
Context: 12.2
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Resource Estimates (24)
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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:8acfb458e3064026b37a
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
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Measured resource category indicates a high level of geological confidence, with a substantial contained silver quantity, supporting the project's robust economics.
Positive factors
- High confidence resource category (Measured)
- Significant contained silver (139 Moz)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“139”
Context: 105
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
measuredBowdens Silver Project · zincTonnes: 105000000Grade: 0.36Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:8acfb458e3064026b37a
Resource Data
- Category
- measured
- Tonnes
- 105000000
- Grade
- 0.36
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Measured resource includes a notable zinc grade, contributing to the polymetallic nature of the deposit and overall project economics.
Positive factors
- High confidence resource category (Measured)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.36”
Context: 105
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
measuredBowdens Silver Project · leadTonnes: 105000000Grade: 0.26Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:8acfb458e3064026b37a
Resource Data
- Category
- measured
- Tonnes
- 105000000
- Grade
- 0.26
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Measured resource includes a notable lead grade, contributing to the polymetallic nature of the deposit and overall project economics.
Positive factors
- High confidence resource category (Measured)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.26”
Context: 105
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
measuredBowdens Silver Project · goldTonnes: 105000000Grade: 0.02Grade Unit: g/tView 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:8acfb458e3064026b37a
Resource Data
- Category
- measured
- Tonnes
- 105000000
- Grade
- 0.02
- Grade Unit
- g/t
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 58
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Measured resource includes a low but present gold grade, which is noted as an attribute for informational purposes.
Positive factors
- High confidence resource category (Measured)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.02”
Context: 105
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
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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:f96f3833f52b44c1b2c4
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
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Indicated resource category provides good confidence in the contained silver, contributing significantly to the overall resource base.
Positive factors
- Good confidence resource category (Indicated)
- Significant contained silver (29 Moz)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“29”
Context: 38
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
indicatedBowdens Silver Project · zincTonnes: 38000000Grade: 0.43Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:f96f3833f52b44c1b2c4
Resource Data
- Category
- indicated
- Tonnes
- 38000000
- Grade
- 0.43
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Indicated resource includes a notable zinc grade, adding to the polymetallic value of the project.
Positive factors
- Good confidence resource category (Indicated)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.43”
Context: 38
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
indicatedBowdens Silver Project · leadTonnes: 38000000Grade: 0.29Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:f96f3833f52b44c1b2c4
Resource Data
- Category
- indicated
- Tonnes
- 38000000
- Grade
- 0.29
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Indicated resource includes a notable lead grade, adding to the polymetallic value of the project.
Positive factors
- Good confidence resource category (Indicated)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.29”
Context: 38
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
indicatedBowdens Silver Project · goldTonnes: 38000000Grade: 0.08Grade Unit: g/tView 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:f96f3833f52b44c1b2c4
Resource Data
- Category
- indicated
- Tonnes
- 38000000
- Grade
- 0.08
- Grade Unit
- g/t
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 44
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Indicated resource includes a low but present gold grade, which is noted as an attribute for informational purposes.
Positive factors
- Good confidence resource category (Indicated)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.08”
Context: 38
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
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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:57a560cc07b7afded14a
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
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The substantial combined Measured and Indicated resource provides a strong foundation for the project's economic viability and future development.
Positive factors
- Combined Measured & Indicated resource shows high confidence
- Significant contained silver (168 Moz)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“168”
Context: 143
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
indicatedBowdens Silver Project · zincTonnes: 143000000Grade: 0.38Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:57a560cc07b7afded14a
Resource Data
- Category
- indicated
- Tonnes
- 143000000
- Grade
- 0.38
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The combined Measured and Indicated resource includes a significant zinc grade, enhancing the polymetallic value of the project.
Positive factors
- Combined Measured & Indicated resource shows high confidence
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.38”
Context: 143
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
indicatedBowdens Silver Project · leadTonnes: 143000000Grade: 0.27Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:57a560cc07b7afded14a
Resource Data
- Category
- indicated
- Tonnes
- 143000000
- Grade
- 0.27
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The combined Measured and Indicated resource includes a significant lead grade, enhancing the polymetallic value of the project.
Positive factors
- Combined Measured & Indicated resource shows high confidence
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.27”
Context: 143
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
indicatedBowdens Silver Project · goldTonnes: 143000000Grade: 0.04Grade Unit: g/tView 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:57a560cc07b7afded14a
Resource Data
- Category
- indicated
- Tonnes
- 143000000
- Grade
- 0.04
- Grade Unit
- g/t
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 54
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The combined Measured and Indicated resource includes a low but present gold grade, noted for informational purposes.
Positive factors
- Combined Measured & Indicated resource shows high confidence
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Evidence · table
“0.04”
Context: 143
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
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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:fe0718e46fe7f3113aa1
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
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Inferred resource provides additional silver potential but with a lower level of geological confidence compared to Measured and Indicated categories.
Positive factors
- Significant contained silver (16 Moz)
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Negative factors
- Lower confidence resource category (Inferred)
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: 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
inferredBowdens Silver Project · zincTonnes: 30000000Grade: 0.44Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:fe0718e46fe7f3113aa1
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 0.44
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Inferred resource includes a notable zinc grade, adding to the polymetallic potential, but with lower confidence.
Positive factors
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Negative factors
- Lower confidence resource category (Inferred)
Evidence · table
“0.44”
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: 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
inferredBowdens Silver Project · leadTonnes: 30000000Grade: 0.33Grade Unit: %View 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:fe0718e46fe7f3113aa1
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 0.33
- Grade Unit
- %
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Inferred resource includes a notable lead grade, adding to the polymetallic potential, but with lower confidence.
Positive factors
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Negative factors
- Lower confidence resource category (Inferred)
Evidence · table
“0.33”
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: 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
inferredBowdens Silver Project · goldTonnes: 30000000Grade: 0.12Grade Unit: g/tView 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:fe0718e46fe7f3113aa1
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 0.12
- Grade Unit
- g/t
- Cutoff Grade
- 25
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 38
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Inferred resource includes a low but present gold grade, noted for informational purposes, with lower confidence.
Positive factors
- JORC compliant estimate with QP sign-off
- Cut-off grade and metal equivalent assumptions disclosed
Negative factors
- Lower confidence resource category (Inferred)
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: 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
provenBowdens Silver Project · silverTonnes: 44600000Grade: 61.7Grade Unit: g/tContained 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df1bf85bc3237488408d
Resource Data
- Category
- proven
- Tonnes
- 44600000
- Grade
- 61.7
- Grade Unit
- g/t
- Contained Metal
- 88.5
- Contained Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Proved Reserve represents a high-confidence, economically viable portion of the resource, forming a substantial part of the project's mine plan.
Positive factors
- Highest confidence reserve category (Proved)
- Significant contained silver (88.5 Moz)
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Evidence · table
“61.7”
Context: 44.6
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
provenBowdens Silver Project · zincTonnes: 44600000Grade: 0.37Grade Unit: %Contained 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df1bf85bc3237488408d
Resource Data
- Category
- proven
- Tonnes
- 44600000
- Grade
- 0.37
- Grade Unit
- %
- Contained Metal
- 165
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Proved Reserve includes a substantial amount of contained zinc, adding significant byproduct value to the project's economics.
Positive factors
- Highest confidence reserve category (Proved)
- Significant contained zinc (165 kt)
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Evidence · table
“0.37”
Context: 44.6
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
provenBowdens Silver Project · leadTonnes: 44600000Grade: 0.27Grade Unit: %Contained Metal: 122Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df1bf85bc3237488408d
Resource Data
- Category
- proven
- Tonnes
- 44600000
- Grade
- 0.27
- Grade Unit
- %
- Contained Metal
- 122
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Proved Reserve includes a substantial amount of contained lead, adding significant byproduct value to the project's economics.
Positive factors
- Highest confidence reserve category (Proved)
- Significant contained lead (122 kt)
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Evidence · table
“0.27”
Context: 44.6
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
probableBowdens Silver Project · silverTonnes: 3300000Grade: 47.3Grade Unit: g/tContained 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:781952561003fb498a86
Resource Data
- Category
- probable
- Tonnes
- 3300000
- Grade
- 47.3
- Grade Unit
- g/t
- Contained Metal
- 4.9
- Contained Unit
- moz
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Probable Reserve adds to the economically viable portion of the resource, contributing to the overall mine plan.
Positive factors
- High confidence reserve category (Probable)
- Contained silver (4.9 Moz)
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Evidence · table
“47.3”
Context: 3.3
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probableBowdens Silver Project · zincTonnes: 3300000Grade: 0.21Grade Unit: %Contained Metal: 7Contained Unit: ktView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:781952561003fb498a86
Resource Data
- Category
- probable
- Tonnes
- 3300000
- Grade
- 0.21
- Grade Unit
- %
- Contained Metal
- 7
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Probable Reserve includes contained zinc, adding to the byproduct value of the project.
Positive factors
- High confidence reserve category (Probable)
- Contained zinc (7 kt)
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Evidence · table
“0.21”
Context: 3.3
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
probableBowdens Silver Project · leadTonnes: 3300000Grade: 0.15Grade Unit: %Contained 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
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:781952561003fb498a86
Resource Data
- Category
- probable
- Tonnes
- 3300000
- Grade
- 0.15
- Grade Unit
- %
- Contained Metal
- 5
- Contained Unit
- kt
- Cutoff Grade
- 30
- Cutoff Unit
- A$/t
Prior Estimate
- Resource Date
- 2026-07-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Probable Reserve includes contained lead, adding to the byproduct value of the project.
Positive factors
- High confidence reserve category (Probable)
- Contained lead (5 kt)
- JORC compliant estimate with QP sign-off
- Cut-off grade disclosed
Evidence · table
“0.15”
Context: 3.3
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
Fact 23Bowdens Silver ProjectView all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Resource scope
- Resource group id
- resource:3eef4cfb32566973a476
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The expected IPC decision date provides a clear timeline for the final regulatory outcome, which is a significant de-risking event for the project.
Positive factors
- Clear timeline for final regulatory decision
Evidence · text
“Dec 2026 Expected IPC decision”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 24View all detailsHide details
Identity
- Ticker
- SVL
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The equity placement secures substantial funding for the company's activities, although it involves shareholder dilution. The placement price is noted.
Positive factors
- Secured significant funding for project development
- Placement price at A$0.145
Negative factors
- Dilution from new share issuance
Evidence · text
“Two-tranche equity placement announced 23 September 2026 (“Silver Mines Receives Firm Commitments to Raise $70 Million’) issuing 482,758,621 new shares, of which 277,733,713 have been issued for Tranche 1. Tranche 2 shares subject to shareholder approval at the AGM on 26 November 2026.”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Metallurgical Results (3)
flotationBowdens Silver Project · silverRecovery: 82.1 %View all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- Two stage crushing, two stage SAG and ball mill, bulk flotation for rougher conc. Concentrate regrind and two stage cleaning.
- Grind P80
- 106 µm
Recovery
- Recovery
- 82.1 %
- Recovery Basis
- theoretical
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The modelled silver recovery of 82.1% is moderate for a flotation circuit, but the elimination of cyanide and standard metallurgy are positive aspects for project development.
Positive factors
- Cyanide eliminated from processing flow sheet
- Standard metallurgy
Negative factors
- Recovery is moderate for flotation (82.1% vs strong benchmark of 85%)
Evidence · text
“Silver recovery modelled at 82.1%”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Theoretical Recovery Onlynegative
Only theoretical or liberation-derived recovery reported, with no actual test result.
Why it applies: recovery_basis is theoretical
flotationBowdens Silver Project · zincRecovery: 90.5 %View all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- Two stage crushing, two stage SAG and ball mill, bulk flotation for rougher conc. Concentrate regrind and two stage cleaning.
- Grind P80
- 106 µm
Recovery
- Recovery
- 90.5 %
- Recovery Basis
- theoretical
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The modelled zinc recovery of 90.5% is strong for a flotation circuit, indicating efficient extraction of this byproduct metal.
Positive factors
- Strong recovery for zinc (90.5% vs strong benchmark of 85%)
- Cyanide eliminated from processing flow sheet
- Standard metallurgy
Evidence · text
“Zn at 90.5%”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Theoretical Recovery Onlynegative
Only theoretical or liberation-derived recovery reported, with no actual test result.
Why it applies: recovery_basis is theoretical
flotationBowdens Silver Project · leadRecovery: 80.8 %View all detailsHide details
Identity
- Project
- Bowdens Silver Project
- Commodity
- lead
- Region
- australia_nsw
- Reported Region
- New South Wales, Australia
- Ticker
- SVL
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- Two stage crushing, two stage SAG and ball mill, bulk flotation for rougher conc. Concentrate regrind and two stage cleaning.
- Grind P80
- 106 µm
Recovery
- Recovery
- 80.8 %
- Recovery Basis
- theoretical
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The modelled lead recovery of 80.8% is moderate for a flotation circuit, contributing to the overall polymetallic recovery profile.
Positive factors
- Cyanide eliminated from processing flow sheet
- Standard metallurgy
Negative factors
- Recovery is moderate for flotation (80.8% vs strong benchmark of 85%)
Evidence · text
“Pb at 80.8%”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Theoretical Recovery Onlynegative
Only theoretical or liberation-derived recovery reported, with no actual test result.
Why it applies: recovery_basis is theoretical
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.