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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 sees further gold potential at Tuckabianna, WA

Thursday, March 18, 2010

Silver Lake Resources (ASX: SLR) has updated progress on exploration activities at Tuckabianna, part of its Murchison Project.

Silver Lake’s accelerated exploration plan is targeting to significantly increase resources at Tuckabianna, Comet and Moyagee located in the Murchison District of Western Australia. These projects have a combined resource of 7.8 million tonnes at 3.8 g/t Au for 1 million ounces.

Current drilling is focussing on the highly prospective, 13 km long Tuckiabanna main zone that has already produced 375,000 oz of gold from open pit mines.

Caustons Main and Caustons South have a combined resource of 1.1 million tonnes at 3.6 g/t Au for 128,000 ounces and previously produced 78,000 ounces of gold from open pits.

A three hole surface diamond drilling programme has been completed at the Caustons South deposit. The programme was designed to increase the resource which is located beneath the previously mined open pit.

Drill hole 10TURC0013 intersected 2.90 metres at 10.5 g/t Au and drill hole 10TURC007 intersected 4.10 metres at 3.2 g/t Au.

"Our accelerated exploration programme has shown the potential to increase existing resources and to make new discoveries along and parallel to the 13 km long Tuckiabanna main zone," said Silver Lake’s Managing Director Les Davis.

"We also have substantial milling infrastructure nearby that could be brought online quickly and at a relatively low cost.”

“We are looking to make a significant increase in our resource base in order to assess our
mining and milling options.” Davis added.

The company said these initial results confirm that the mineralisation is open to the south and down dip and will result in an increase to the Caustons South resource in June 2010. Further drilling is being planned to increase the current resource.

The Exodus prospect is located 30 metres south of Caustons South. A review of historic data revealed that previous drilling had been undertaken in the area containing several thick high grade intersections and that no resource had been calculated for the prospect.

Selected intersections from the historic drilling were: 8.0 metres at 2.1 g/t Au from 42 metres; 4.0 metres at 3.9 g/t Au from 50 metres and 4.0 metres at 4.1 g/t Au from 51 metres.

A 16 hole surface RC drilling programme was designed to follow up on the historic drilling
resulting in thick high grade intersections at varying depths including: 6.0 metres at 1.7 g/t Au from 43 metres; 5.0 metres at 7.2 g/t Au from 118 metres and 7.0 metres at 3.4 g/t Au from 145 metres.

This follow up drilling campaign was highly successful and along with the historic drilling
information will lead to a maiden resource for the Exodus prospect in June 2010.

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