Both methods will work, each with it's own pro's and con's.
Cementing with steel wool:
P' - Produce elemental silver which is 'easy' to wash.
C' - Slow and requires an after treatment such as HCl or dilute sulfuric washes (In spite the fact that Fe and Ag are immiscible, iron inclusions in the melt is all too real).
NaOH:
P' - Fast, drops all the silver at once as Ag2O, no need to wash, just dry and melt.
C' - Handling a voluminous precipitate.
This is of course oversimplified, but you can find the entire procedures here on the forum.
I suggest you try both ways first with small samples of your main batch.