Silver Lake targets Mount monger increase from Lorna Doone and Spinifex deposits.

THE DRILL SERGEANT: Silver Lake Resources (ASX: SLR) has received assay results from ongoing exploration being carried out at the company’s Mount Monger Operations.

The latest activity has taken place at the Lorna Doone and Spinifex deposits, which are located approximately two kilometres south east of the Daisy Milano mine.

According to Silver Lake, the Lorna Doone and Spinifex deposits were both mined as separate open pit deposits in 1993 with combined production of 24,800 ounces at 2.52 grams per tonne gold.

 

Schematic long section of Lorna Doone and Spinifex showing
current and historic drilling below the previously mined open pits.
Source: Company announcement

 

Silver Lake has received assay results from six diamond drill holes, which targeting the extension zones.

The drilling intercepted high-grade gold mineralisation with the deepest hole to date intersecting:

1.5 metres at 36.2 grams per tonne gold, including 1 metre at 50.6 grams per tonne gold at a vertical depth of around 400 metres below the previously mined open pits.

These drill holes are outside of the current resource at Lorna Doone.
Silver Lake is targeting to increase production from the Mount Monger Operations to 200,000 ounces per annum by 2014 via mining from multiple underground and open pit ore sources.

The company’s Mount Monger Operations have a current JORC resource of 7.1 million tonnes at 7.4g/t gold for 1.7 million ounces of gold.