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 gold strikes include 17.6m at 23.6g/t at Mount Monger
Silver Lake Resources (ASX: SLR) has made some bonanza gold strikes and has confirmed multiple high grade structures located between Daisy Deeps and Haoma that remain open along strike and at depth, in latest drilling at the Mount Monger Operations.
The high grade hits support the company's strategy targeting an increase in production from the project to 200,000 ounces annually by 2014, from mining multiple underground and open pit ore sources.
30 metres west of Daisy Deeps the company intersected 17.6 metres at 23.6 grams per tonne (g/t) gold, which is located 50 metres below current mine development, and most importantly is located outside of the current resource.
Other highlights included; 2.6 metres at 100.6g/t gold, 2.2 metres at 57.1g/t gold and 1.4 metres at 24.5g/t gold.
Les Davis, managing director of Silver Lake, told Proactive Investors that drilling to date of these multiple structures appear to be thicker and higher grade than the main Daisy Milano system.
"We are seeing a geological change at around 600 vertical metres from the surface that has the potential to change the scale of our underground operations once sufficient mine development is in place."
The Mount Monger Operation contains the Daisy Milano, Daisy East, Rosemary and Haoma underground mines, and is strategically located 50 kilometres south-east of Kalgoorlie.
The company has a resource base of 3 million gold ounces in the Mount Monger goldfield and the Murchison.
