Kurs +9,5%, fast ATH ,SLR&IGR sind die Top Unternehmen in Sachen Highgrade Gold
70% increase in high grade gold JORC Resource inventory to
2.5 million ounces
Highlights
• Mount Monger:
− Total resource of 3.6 million tonnes at 9.4 g/t Au for 1.1 million ounces
− 142% increase in resource at Daisy Milano to 623,700 ounces
− maiden resource at Daisy East totalling 142,600 ounces at 38.7 g/t Au
− 172% increase in resource at Magic to 152,800 ounces
− North Monger acquisition of 80,300 ounces
• Murchison:
− Total resource of 13.7 million tonnes at 3.0 g/t Au for 1.3 million ounces
− maiden resources at Caustons South, Genesis & Exodus totalling 121,000
ounces
• Total June 2010 resource inventory:
− 17.8 million tonnes at 4.4 g/t Au for 2.5 million ounces
Silver Lake Resources Ltd (“Silver Lake”) is pleased to announce a June 2010 JORC
Resource inventory totalling 17.8 million tonnes at 4.4 g/t Au for 2.5 million ounces
(refer to table 1) an increase of 70% from the June 2009 inventory (refer to table 2). The
June 2010 resource inventory is calculated after allowing for the previous year’s mining
depletion of 66,700 ounces.
Silver Lake’s discovery cost continues to be less than A$10 per ounce.
Not all of the recent drilling success has been included in the latest inventory as drilling
is ongoing. A further resource upgrade will be announced in January 2011 to include:
- expanded resources at Magic and Daisy East;
- maiden resources for Lena South, Leviticus and Numbers in the Murchison; and
- other resources as defined by our ongoing drilling campaigns over the next six
months.
“To add over 1 million ounces of gold to our resource inventory during the year after
mining 66,700 ounces is a significant outcome and supports our view on the
underexplored, highly prospective nature of our Mount Monger Operations and Murchison
projects. Further encouraging results are expected from our ongoing drilling programmes
throughout the year as many of these resources are by no means closed out” said
Managing Director Les Davis.
“The immediate implications of the increased resource base at a sustained high grade,
are to confirm a mine life at our Mt Monger Operations well beyond 5 years and to make
a second production centre in the Murchison more likely than not”, Mr Davis added.
The next six months surface drilling programmes at Mount Monger will mainly be
targeting the thick high grade zones intersected at the Magic deposit located 3km south
of Daisy which include:
- 11 metres at 59.4 g/t Au from 251 metres (including 1.5 metres at 243 g/t Au);
- 10 metres at 19.1 g/t Au from 52 metres;
- 3 metres at 23.8 g/t Au from 44 metres; and
- 15 metres at 4.7 g/t Au from 272 metres;
The mineralisation at the Magic deposit remains open to the south and at depth.
Underground drilling programmes over the next six months will be targeting the northern
extent at Daisy East and extensions to Emma, Rosemary and Haoma.
The Moyagee Project (refer to figure 3) contains 35 km of the highly prospective Lena
Shear zone. The Lena deposit is located in this shear zone and already has a resource of
820,000 tonnes at 8.5 g/t Au for 224,200 oz (refer to table 1).
Infill drilling will be undertaken over the next six months at Lena South, Leviticus and
Numbers prospects to calculate a maiden resource for each area (refer to figure 4).
For more information about Silver Lake and its projects please visit our web site at
www.silverlakeresources.com.au.
For further information please contact
Les Davis
Managing Director
+61 8 6313 3800
contact@silverlakeresources.com.au
About Silver Lake Resources Ltd:
Silver Lake is an ASX 300 gold producing and exploration company with a resource base of
2.5 million oz in highly prospective regions including the Mount Monger goldfield and the
Murchison (Tuckabianna, Comet, and Moyagee). Silver Lake’s strategy is to develop large
production centres at Mount Monger and at the Murchison with multiple mines at each
centre.
Silver Lake’s Mount Monger Operation contains the Daisy Milano and Daisy East
underground mines located 50 km south east of Kalgoorlie.
Mount Monger has additional multi mine potential underpinned by emerging open pit
production from Magic, Costello and Lorna Doone deposits. Furthermore the discoveries
of Emma and the extension of the Rosemary lode show potential as near term production
sources.
Gold ore from Mount Monger is transported to Silver Lake’s 600,000 tpa Lakewood Gold
Processing Facility located 5 km south east of Kalgoorlie and 45 km from the Daisy Milano
mine.
The Company continues to review low capital milling options for the Murchison project.
Ongoing exploration will focus on extending current resources that are constrained by
limited drilling particularly below 100 metres depth. Our strategy is to delineate
sufficient resources to sustain a 100,000 oz per annum operation.
Silver Lake’s exploration programme is targeting1 5 million oz Au in resource.