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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	SLR
Latest Price:	3.52 (-0.28% )
52-week High:	3.87
52-week Low:	1.61
Market Cap:	649.55M

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Silver Lake Resources Full Silver Lake Resources profile here

Silver Lake Resources (ASX: SLR) 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 (Tuckabianna, Comet and Moyagee).

Silver Lake Resources' strategy is to develop large production centres at Mount Monger and at the Murchison with multiple mines at each centre. Silver Lake's exploration program is targeting 5 million ounces of gold in resource.

Silver Lake Resources hits high grade gold intersections at Moyagee in WA

Wednesday, March 10, 2010

Silver Lake Resources (ASX: SLR) has announced an update on exploration activities at Moyagee, one of its Murchison projects, located in Western Australia.

Silver Lake’s accelerated exploration plan is targeting to significantly increase resources at Tuckabianna, Comet and Moyagee in the Murchison District.

These projects have a combined resource of 7.8 million tonnes at 3.8 g/t Au for 1 million ounces.

The Moyagee Project is based around the 35 km long Lena shear zone. The Lena deposit is located in this shear zone and already has a resource of 820,000 tonnes at 8.5 g/t Au for 224,200 oz over a strike length of 600 metres.

An initial diamond drilling programme was designed to follow up on historic drill holes at the “Leviticus” prospect located 2.2 km south of the Lena deposit along the Lena shear zone.

The Leviticus prospect is virtually unexplored with only three historic drill holes which intersected: 3.0 metres at 15.7 g/t Au from 11 metres; 9.0 metres at 3.6 g/t Au from 33 metres; and 3.0 metres at 5.9 g/t Au from 125 metres.

These intersections were recently followed up with two diamond drill holes resulting in hole 09MODD009 intersecting: 4.8 metres at 26.1 g/t Au from 58 metres; and 3.5 metres at 16.4 g/t Au from 65 metres.

“The Lena shear zone already hosts a large, high grade deposit at Lena. These latest results highlight the potential for the similar deposits to be discovered along the 35 km long shear zone.” said Silver Lake’s Managing Director Les Davis.

“To intersect thick high grade mineralisation within 60 metres of the surface in an underexplored area is a significant outcome,” Davis added.

The company said this deposit remains open to the north, south and at depth and is currently subject to a drilling program to the south.

The next phase of step out drilling in this area will be on 50 metre centres north and south of the Leviticus prospect.

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