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 adds Bank of Nova Scotia as substantial shareholder
Silver Lake Resources (ASX: SLR) has gained Bank of Nova Scotia as a substantial shareholder with the financial institution earning a 6.1% undiluted stake in the company.
Bank of Nova Scotia acquired 12.6 million shares in the four months prior to 30 November for an average per share price of A$2.84, valuing the shareholding at around $35.7 million.
Silver Lake is in an interesting position, having intercepted high grade gold at the Mount Monger operations, which importantly includes some bonanza grade strikes outside of the current resource.
A diamond drilling campaign has been undertaken at the Haoma underground mine, with extensional drilling returning strong intercepts of:
- 1.1 metres at 93.3 grams per tonne (g/t) gold;
- 1 metre at 86g/t gold; and
- 3.4 metres at 18.9g/t gold.
The continued gold discoveries by Silver Lake during 2011 help support the company's goal of an annual 200,000 gold ounce production rate by 2014.



















