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GOLDENPOTENTIAL
LES DAVIS
MANAGING DIRECTOR
SILVER LAKE RESOURCES LTD
being expanded to 700,000 tpa by December 2011 and up to
1 million tpa by the September 2012 quarter.
Silver Lake’s Managing Director Les Davis said, “We have
achieved a lot from a company that is only four years old; however,
it is the future that is the most exciting. We have done the hard
yards and built up our resource base at Mount Monger to 1.5
million ounces of gold at 8.9 g/t Au. This is probably the highest
grade gold resource in Australia and our exploration success is
underpinning our growth targets.
“We are targeting 100,000 ounces of production this financial
year, growing to 200,000 ounces per annum by 2014 frommultiple
underground and open pit feed sources. To date we have been
reliant on a single ore source at Daisy Milano, but that has now
changed with 4 underground mines and 1 open pit in production.
I personally think that our Mount Monger operations contain the
most highly prospective underexplored tenements regional to
Kalgoorlie, the gold capital of Australia. If you want to be a gold
miner, regional to Kalgoorlie is a good place to start”.
The Murchison has a current resource base of 1.7 million
ounces of gold. Silver Lake’s strategy is to develop a second mining
operation with multiple mines feeding a central processing facility.
Accordingly, the focus is on extending resources, particularly
below 100 metres depth, to sustain a 100,000 ounces per annum
operation. A 1.2 million tonne per annum mill has been acquired
for this project. A decision to mine in the Murchison is expected
late in 2011.
“We are currently finalising the feasibility study for our
Murchison project, which has ore being sourced from 14 open
pit and 4 underground mines over an initial 8 to 10 year period.
Providing everything goes according to plan we will be producing
in early 2013. So by 2014 we are targeting to have combined
production from the Mount Monger and Murchison operations of
300,000 ounces of gold per annum.
“But it doesn’t stop there as we have committed to an
$18 million per annum exploration programme for the foreseeable
future. Our exploration programme is targeting 5 million ounces
in resource by June 2012. In addition, there is significant
potential to increase the resource beyond that target over time”
said Mr Davis.
DAISY MILANO PORTAL
ilver Lake Resources listed on the ASX in
November 2007 with an Initial Public Offering
of $30 million. Today Silver Lake is an ASX 300
company with a market capitalisation greater than
$500 million.
Silver Lake is a gold producing and exploration company with
a resource base of 3.3 million ounces in highly prospective regions
including the Mount Monger goldfield and the Murchison. Silver
Lake’s strategy is to develop large production centres at Mount
Monger and at the Murchison with multiple mines at each centre.
Silver Lake’s Mount Monger operation contains the Daisy
Milano, Daisy East, Rosemary and Haoma underground mines 50
kilometres south east of Kalgoorlie. Mount Monger has additional
multi mine potential underpinned by emerging open pit production
from the Wombola Dam, Wombola Pit and Magic deposits.
Gold ore from Mount Monger is transported to Silver Lake’s
600,000 tonnes per annum (tpa) Lakewood Gold Processing
Facility located 5 kilometres south east of Kalgoorlie and 45
kilometres from the Daisy Milano mine. This facility is currently
S
AT
SILVER LAKE
We are currently finalising
the feasibility study for our
Murchison project, which has
ore being sourced from 14 open
pit and 4 underground mines
over an initial 8 to 10 year
period. Providing everything
goes according to plan we will
be producing in early 2013.
MINESITE 2011
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