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Silver Lake Resources Ltd.
Summary
| Project: | Mount Monger | |
|---|---|---|
| Deposit: | Tank South, Easter Hollows | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-6-2019: Silver Lake Resources Ltd. announces an Exploration/Drilling Update report for its Tank South, Easter Hollows deposit at the Mount Monger project. Drilling results incl. 17.00m @ 24.68g/t Au from 139.00m. The Tank Mineral Resource is located w | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Antony Shepard (Internal) | |
| ABSTRACT: | The Tank Mineral Resource is located within the prospective “SAT Trend” extending south of the Harrys Hill and Karonie open pits (Figure 1). All the SAT Trend gold occurrences are located within a granted Mining Lease and are proximal to the established Aldiss Mining Centre infrastructure. Wide spaced historical RAB drilling along the SAT Trend shear zones from Spice to Aspen are typically constrained to a depth of between 20 to 40 metres. Reverse circulation (RC) and diamond drilling was previously limited to the three currently estimated SAT Trend gold deposits, Spice, Atriedes and Tank1 . Silver Lake completed a detailed ground magnetic survey in Q1 FY19 which provided a significant improvement in geophysical resolution over the SAT Trend stratigraphic unit (refer Figure 1) and significantly improved exploration targeting in the area. A preliminary phase of RC and diamond drilling was completed on the SAT Trend deposits in September 20182 . A follow-up phase of RC and diamond drilling was completed in December 2018 targeting direct extensions to mineralisation at the SAT Trend deposits. Assays received from this program included 24.0m @ 9.39 g/t Au and 12.0m @ 3.25 g/t Au in hole 18STRC017D at the southern end of the Tank deposit. The gold intersection returned in 18STRC017D (24.0m @ 9.39 g/t Au) was wider and higher grade than any mineralisation previously intersected along the SAT Trend to the south of Harrys Hill. The intersections are offset, along a different plunge direction to the existing Mineral Resources at Tank and are of a different style of mineralisation, indicating this discovery is potentially part of a new mineralised system proximal to the existing shallow Tank deposit. Follow up RC and diamond drilling (including a scissor hole at Tank South) confirmed local extensions over 160 metres strike length around the original intersections in 18STRC017D. Diamond hole 19STDD010 returned a spectacular 17.0m @ 24.7 g/t Au and is now the widest high grade intersection seen at the SAT Trend. Highlights from the initial and a follow up phase of drilling are set out in Table 1 below and shown in Figures 2 & 3. | |
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