Silver Mines today provided an update to the market regarding its due diligence studies on the Independence gold-silver project in southern Nevada.

As highlighted in this announcement, the Independence project has demonstrated potential to host Au-Ag mineralisation and as such, Silver Mines is planning to drill the project as soon as possible. 

Key highlights include:

• Rock chip sampling by Silver Mines' team indicate wide zones of gold-silver mineralisation.
   
• 70 samples taken during February 2014, as continuous samples over widths of 2-5m, with 30 samples yielding greater than 0.2g/t Au, with highest values of 3.72g/t Au and 19g/t Ag.
   
• Mineralisation and higher Au-Ag values generally associated with a shallow dipping quartz vein up to 15m wide (true width). The average grade based on 12 samples is 1.24g/t Au and 6.3g/t Ag or 1.34g/t Au equivalent.
   
• Mineralisation also hosted in underlying quartz-sericite altered quartzite, schist and gneiss with stockwork quartz. This zone is up to 30m wide (true width) which expands the mineralised zone up to approximately 45m true width.
   
• The mineralised vein and footwall zone has been traced for approximately 1,200m along strike. Most of the vein is masked by alluvium.
   
• Silver Mines has started the permitting process to drill the hypothesised extensions of the mineralisation under the alluvial cover.

For more information you can download the update from Silver Mines' website www.silverminesltd.com.au or by clicking here. 

Claire Gannon
INVESTOR RELATIONS
info@silverminesltd.com.au
www.silverminesltd.com.au
ASX: SVL