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 boosts gold copper tenements at the Murchison project
Silver Lake Resources (ASX: SLR) have sold a non-core asset and acquired a core asset that increases the company's footprint in the prospective Eelya Complex.
The Eelya Complex tenements host the potential for gold and base metals, and most importantly adjoin Silver Lake's Murchison project.
The deal includes Silver Lake selling the Rothsay Project, located 300 kilometres north of Perth, to Auricup Resources, an Australian unlisted public company.
Consideration for the Rothsay Project is A$1.2 million cash plus the tenements in the Eelya Complex.
Les Davis, managing director of Silver Lake, told Proactive Investors today that the acquisition of the additional tenements increases the company's footprint in the area and contain some very good copper intersections that were drilled in the 1970’s but never followed up with any meaningful exploration.
"We will be drilling on these tenements in September 2011 targeting both gold and copper."
Auricup will look to advance the Rothsay Project, along with the company's base and precious metals projects in the Pilbara and Mexico - while progressing towards an ASX listing.
