Silver Mines to Start Drilling at New South Wales Project; Shares Fall 3%

MT Newswires Live

2025/01/24

Silver Mines (ASX:SVL) is set to start drilling at the Elsienora project in New South Wales, focusing on multiple silver and gold targets, according to a Friday filing with the Australian bourse.

The company reviewed data on the project and plans to begin a diamond drilling program of 2,000 to 3,000 meters, subject to statutory approvals, the filing said.

Drilling will be accompanied by induced polarization surveys and reprocessing of airborne electromagnetics and magnetics, per the filing.

Shares fell nearly 3% in midday trade Friday.

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