Name of the Project
Bowdens silver project.

Location
About 26 km east of Mudgee, in the central Tablelands region of New South Wales, in Australia.

Project Owner/s
Silver Mines Limited.

Project Description
The project is the biggest undeveloped silver deposit in Australia.

The project comprises an opencut mine, developed in six stages, feeding a new processing plant comprising conventional semiautogenous grinding mill and ball mill circuit, differential flotation, thickening and dewatering to produce two concentrates that will be sold for smelting and refining to finished metals. Plant capacity is designed for two-million tonnes a year and the open-cut mine has an initial life of 16 years.

The feasibility study has demonstrated that the project will produce an average of 3.4-million ounces of silver a year, together with about 6 900 t/y of zinc and 5 100 t/y of lead.

As a result of higher silver grades in the early stages of mining, average production during the first three years of operation will be about 5.4-million ounces of silver a year and 6 000 t/y of zinc and 5 200 t/y of lead.

Potential Job Creation
Peak workforce is estimated at 320 personnel during construction and 230 personnel during operations.

Net Present Value/Internal Rate of Return
The project has a net present value of A$143.9-million and an internal rate of return of 20.8%

Capital Expenditure
Initial capital costs are estimated at A$246-million, including mine development, a processing plant, a tailings storage facility and power supply.

Planned Start/End Date
Not stated.

Latest Developments
Silver Mines is navigating the complexities of legal proceedings surrounding its Bowdens silver project, following an August ruling from the New South Wales Supreme Court of Appeal.
The court upheld an appeal by the Bingman Catchment Landcare Group, which effectively nullified the development consent previously granted by the Independent Planning Commission (IPC) in April 2023.

The appeal, initiated by Bingman, challenged the IPC’s administrative processes, particularly whether the commission adequately considered the environmental impacts of a potential transmission line needed to power the project. 

In a statement on October 15, Silver Mines confirmed that legal advice indicated its development application remained "alive and on foot”, meaning it had not been conclusively resolved by the IPC. This finding, the company said, had been significant because New South Wales planning laws permit applicants to amend their development application prior to final determination with the Department of Planning, Housing and Infrastructure's (DPHI’s) agreement.

The company is working with the DPHI to explore ways of reinstating the development consent, specifically addressing the court's concerns regarding the assessment of the transmission line. This approach might involve preparing and submitting a new development application that includes various power supply options.

Key Contracts, Suppliers and Consultants
GR Engineering Services (overall study management, metallurgical testwork analysis, process design, engineering design); AMC Consultants (geotechnical assessment, metallurgical testwork management, ore reserve estimation, mine design and scheduling); ATC Williams (tailings storage facility design); Jacobs Group (hydrogeological investigations and modelling); RW Corkery & Co (environmental- and social-impact assessment); H & S Consultants (resource estimates); Barnson (road and site access); Energy Management Services (power supply); Bill Cunningham & Associates (product marketing and logistics); and Northshore Capital Advisor (financial analysis).

Contact Details for Project Information
Silver Mines Limited, tel+61 2 8316 3997 or email Info@silvermines.com.au.