Silver Lake Resources (SLR)

Shares / Stock Code

SLR

Stock Exchange / Sharemarket

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Silver Lake Resources (SLR) is a gold producer and explorer with a resource base of 1.5 million oz in highly prospective regions including the Mount Monger and the Murchison goldfields located in Western Australia. Silver Lake's exploration programme is targeting 5 million oz Au in resource by the end of 2011. The company was listed on Australian Stock Market (ASX) on 14 November, 2007.

As of June 30, 2009, approximately 3,000 tonnes of ore was mined from a trial trench. The Company operates under one segment, gold exploration, mining and production, and operates in one geographical segment, Western Australia. The Company’s subsidiaries include Pericles Resources Pty Ltd and Cue Minerals Pty Ltd.

Silver Lake is building a significant resource base with a view to developing large production centres at Mount Monger and the Murchison with multiple mines at each centre. This strategy is underpinned by an accelerated exploration programme that is targeting to grow the resource base to 5 million oz Au by the end of 2011. With an experienced board, senior management team and proven track record, Silver Lake is well positioned to maintain its current high margin operations and to build the next Australian mid tier gold mining company.

Copper Lakes Project

The Copper Lakes project consists of a single exploration licence application covering an area of 267 km2 and is located 520 km southeast of Port Hedland. The project covers rocks of the Rudall Complex, which is the Proterozoic core of the Paterson Orogen. The Paterson Orogen is host to several major mineral deposits, including Telfer (gold and copper) and Kintyre (uranium).

Exploration of the area commenced in the 1960s with regional reconnaissance and geophysical surveys conducted by Government agencies. During the 1980s and 1990s, various groups completed geological mapping, geochemical surveys and airborne and ground geophysical surveys. The previous work yielded surface samples of up to 10 g/t Au, 26% Cu and over 0.1% Co from various locations on the licence. Drill testing of some EM conductors and magnetic anomalies failed to return significant results, however not all anomalies were followed up.

The Copper Lakes project is relatively under-explored, but this has not hindered the delivery of some very significant gold and copper assays from past exploration efforts. It is awaiting grant of the exploration tenement at which time exploration activities will commence.