Silver Lake is an all Australian, ASX listed gold producing and exploration company operating in the Eastern Goldfields district of Western Australia.
Silver Lake's land position in Western Australia covers highly prospective under explored tenements containing gold, silver and copper.
Silver Lake has JORC Resources and JORC Ore Reserves (as at 30 June 2016) containing:
- 4.9 million ounces of gold inclusive of 0.8 million ounces of reserve;
- 10.5 million ounces of silver, and
- 133,650 tonnes of copper.
Mount Monger Operation
- Located 50 km southeast of Kalgoorlie, Western Australia
- In FY17 mining operations will include the Daisy Complex, Maxwells and Cock-eyed Bob underground mines and Imperial/Majestic and Santa Area open pit mines
- Flagship Daisy Complex has produced 583 koz since its purchase by Silver Lake in 2007 and provides stable base load feed to the Randalls facility
- All ore is processed at the 1.2Mtpa Randalls Processing Facility
- The FY17 A$14M exploration program focusses solely on the Mount Monger Camp with the objective of delivering lower cost discoveries proximal to existing mines and mine infrastructure
- The Mount Monger Operation reported a 2016 JORC Resource of 28.2Mt @ 3.6g/t Au for 3.23Moz of contained gold and a 2016 JORC Reserve of 3.7Mt @ 3.2g/t Au for 0.39Moz of contained gold
- Located southeast of the town of Cue, 600km northeast of Perth
- The Murchison Operation was placed on care and maintenance in June 2014
In November 2015, the Company announced that it had entered into two transactions in respect of its non-core tenure in the Murchison area:
- Sale of the Comet tenement package
- Cue Project Farm-in and Joint Venture
- Under the Farm-in and Joint Venture Agreement with Musgrave Minerals Limited (ASX:MGV), MGV may earn up to 80% joint venture interest in tenements comprising the Moyagee Gold and Hollandaire Copper Projects ('Cue Project'). Furthermore, MGV are obligated to spend a minimum of $900,000 on exploration on the Cue Project tenure over the coming 12 months
- The 1.2Mtpa Murchison processing facility and associated core tenements do not form part of either transaction above and continue to be retained by the Company
- The Murchison Operation reported a 2016 JORC Resource of 10.6Mt @ 2.0g/t AU for 685koz of contained gold