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.
Silver Lake Resources identifies four copper targets at Murchison project
Silver Lake Resources (ASX: SLR) company strategy remains firmly on gold, but the company has identified four significant copper targets at the Murchison project 600 kilometres north of Perth.
The targets were identified from surface geophysics, and are located in the Eelya Complex, which is a large project area that hasn't been subject to modern day exploration techniques.
The last drilling was over 35 years ago, with historic highlights including; 53 metres at 0.6% cooper from 59 metres, including 17.9 metres at 1.4% copper and 3 metres at 3.5% copper, and 20 metres at 0.71% copper from 80 metres.
Diamond drill testing of the targets will kick-off in the September quarter 2011.
Silver Lake’s strategy in the Murchison area remains on developing a second mining operation with multiple mines feeding to a central processing facility.
Accordingly, the focus is on extending gold resources, particularly below 100 metres depth, to sustain a 100,000 gold ounce annual operation.
The project already has a combined resource of 15.5 million tonnes at 3.0 g/t gold for 1.5 million ounces.
A 1.2 million tonne annual mill has been acquired, with a decision to mine in the Murchison is expected by the company in late 2011.
