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Silver Lake Resources Ltd.
Summary
| Project: | Mount Monger | |
|---|---|---|
| Deposit: | Maxwells | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-6-2016: Silver Lake Resources Ltd. announces an Exploration/Drilling Update report for its Maxwells deposit at the Mount Monger project. Drilling results incl. 5.42m @ 9.46g/t Au from 135.80m. Silver Lake Resources Limited (“Silver Lake” or the “Compan | |
| Resources: | (Resource, I+I): 1.685Mt @ 5.67g/t Au for 307000oz Au contained at Maxwells | |
| CP/QP: | [Overall Report]: Antony Shepherd (Internal) | |
| ABSTRACT: | Silver Lake Resources Limited (“Silver Lake” or the “Company”) is pleased to advise that development of the Maxwells Underground Mine (“Maxwells”) will commence in August 2016. Phase 1 exploration drilling, comprising eleven diamond drill holes for 2,179 metres, has been completed. The drilling was focused on extending the ore blocks accessed by the Northern Portal, and successfully intersected the host BIF unit in the projected target position with strong mineralisation displaying the same intense sulphide alteration and quartz veining characteristics as the high grade lodes commonly intersected elsewhere within the Maxwells deposit. Encouragingly, visible gold was logged within nine of the BIF intersections, including within a new previously untested BIF host unit located immediately to the west of the main Northern Lode (Figure 5 and Figure 6). All drilling results are reported in Appendix 1. Phase 2 drilling comprises 7 drill holes for an aggregate of 1,480 metres. Drilling will focus on ore accessed via the Central Portal and confirm the underground development layout. Additionally Phase 2 infill drilling will target Inferred Resources for conversion to Indicated Resources. Phase 3 is a 26 hole drilling program for 6,365 metres that targets depth extensions to the Western and Eastern lodes in areas currently identified as Inferred Mineral Resources. | |
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