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, copper and zinc.
Silver Lake currently has JORC Resources and JORC Ore Reserves containing:
- 5.0 million ounces of gold inclusive of 0.8 million ounces of reserve;
- 10.5 million ounces of silver, inclusive of 8.5 million ounces of reserve; and
- 133,650 tonnes of copper inclusive of 74,700 tonnes of reserve.
This includes resources applied under both the 2012 and 2004 editions of the JORC code.
Mount Monger Operation
Silver Lake's core asset is the Mount Monger Operation, located in a first world jurisdiction 50km south east of Kalgoorlie in the Eastern Goldfields district of Western Australia. Gold ore from the Mount Monger Operation is transported to the Randalls processing facility, located 60km south east of Kalgoorlie. The Randalls processing facility has a capacity of 1.2 million tonnes per annum.
Mount Monger has additional multi-mine potential underpinned by work programmes to advance the following deposits towards production:
- Upper areas to the east and west of Daisy Milano;
- Lucky Bay open pit;
- Santa Area open pit;
- Rumbles open pit;
- Majestic and Imperial open pits; and
- Maxwells underground mine.
Silver Lake's projects situated in the Murchison goldfield of Western Australia are located south east of the town of Cue, 600 km north east of Perth. They consist of the Tuckabianna, Comet and Moyagee projects which as at June 2015 have a combined JORC resource (including JORC 2012 compliant and JORC 2004 compliant) of 14.4 million tonnes @ 2.2 g/t Au for 1.0 million ounces.
The Murchison operation is currently on care and maintenance and subsequently a reserve has not been declared as at June 2015.
The Company is currently assessing a number of strategic alternatives to further enhance the value of the gold and base metal asset in the Murchison including divestment of the asset.
The Great Southern Gold Project ("Great Southern") is located in the south east of Western Australia and comprises two discreet exploration projects, Kundip and Munglinup. Silver Lake has entered into a conditional Farm-In and Joint Venture Agreement wiuth ACH Minerals Pty Ltd in respect of the Great Southern Project. Refer to ASX Announcement dated 17 December 2015 for further details.