Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: SLR
Latest Price: A$2.55  (3.24% Ascending)
52-week High: A$3.87
52-week Low: A$1.61
Market Cap: A$561.67M
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Silver Lake Resources
www.silverlakeresources.com.au

Silver Lake Resources (ASX: SLR) is a gold producing and exploration company with a resource base of 3.3 million ounces in highly prospective regions including the Mount Monger goldfield and the Murchison (Tuckabianna, Comet and Moyagee).

 

Silver Lake Resources' strategy is to develop large production centres at Mount Monger and at the Murchison with multiple mines at each centre. Silver Lake's exploration program is targeting 5 million ounces of gold in resource.

Pdf

Silver Lake Resources gold ore production from fourth mine at Mount Monger

22nd Jun 2011, 4:22 am

Silver Lake Resources (ASX: SLR) will boost gold ore production at the Mount Monger Operations from early July with Haoma coming on line, to add to operations at the Daisy Milano, Daisy East and Costello mines.

Haoma was historically an underground mine located west of the Daisy Milano decline, mined at a grade of 28.9g/t gold, before operations concluded at around 180 metres below the surface.

The cessation was due to the orebody plunging onto a neighbouring tenement, but this problem has been resolved as Silver Lake now controls the consolidated Mount Monger region and therefore can mine the down plunge extent of the previous workings.

Haoma has a current JORC Resource of 109,300 tonnes at 18.7g/t gold for 65,600 ounces, with underground diamond drilling continuing up dip towards the existing Haoma resource, and down dip below 700 vertical metres.

Silver Lake said ongoing drilling will be used to calculate the new resource and for mine planning purposes.

Silver Lake is targeting to increase production from the Mount Monger to 200,000 ounces annually by 2014 though mining from multiple underground and open pit ore sources.

Mount Monger has a current JORC resource of 4.73 million tonnes at 8.7g/t for 1.33 million ounces of gold.

The latest positive news for Silver Lake follows on from the announcement earlier in the week, that the company has successfully completed the 520 metre ventilation shaft at Mount Monger, removing a constraint on its underground operations.

 

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