Silver Lake is an ASX 300 gold producing and exploration company with a resource base of 3.3 million oz 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 & Haoma underground mines 50 km 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 tpa Lakewood Gold Processing Facility located 5 km south east of Kalgoorlie and 45 km from the Daisy Milano mine. This facility is currently being expanded to 700,000 tonnes per annum by December 2011 and up to 1 million tonnes per annum by September 2012 quarter.
In the Murchison, 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 oz 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.
Silver Lake's exploration programme is targeting 5 million oz Au in resource by June 2012. In addition, there is significant potential to increase the resource beyond that target over time.
Gold Producer with Significant Exploration Upside
- Current production ~100,000 oz Au per annum from Mount Monger Operations
- Murchison production targeted for 2013
- Targeting group production of 300,000 oz pa in 2014
- Total resource base of 24,097,600 tonnes at 4.2 g/t Au for 3,250,700 oz
- Large highly prospective under explored land holding
- Targeting 5 Moz in resource by June 2012
Mount Monger Goldfield
- 100% owned
- 4 underground producing mines
- Identified gold potential of 2.0 million and 4.5 million oz
- Resource: 5,136,400 tonnes @ 8.9 g/t Au for 1,467,400 oz
- 160 square kilometres of highly prospective tenements
- Multiple lines of mineralisation
Murchison Goldfield
Tuckabianna, Comet, and Moyagee Projects
- 100% owned
- Targeting a second multi-mine production centre
- Acquired 1.2m tpa milling infrastructure in August 2010
- Resource: 18,370,000 tonnes @ 2.8 g/t Au for 1,650,000 oz
- Large land holding under explored at depths greater than 100 metres below the surface
- Deeper drilling programme in progress and delivering highly encouraging results
Copper Lakes
- Greenfield exploration project
- Surface samples of up to 26.5% Cu and 5.18 g/t Au
Quality Management Team with Proven Track Record
- Strong corporate, operations and exploration experience
- Over 150 years of combined resource industry experience
- Diversified spread of professional attributes
- Extensive international network of industry and market contacts
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