- Silver Lake Resources (SLR) has reported multiple high-grade gold and copper assays from resource definition drilling at the Deflector Operation in Western Australia
- 27 diamond holes were drilled at the Deflector South West site, with 10 of those returning solid assay results
- The highlight was an extraordinary 7.4 metre at 98.7 grams per tonne of gold and 11 per cent copper effort, which the company is particularly happy with as it was one of the southernmost holes drilled to date
- Silver Lake said 10 of the 27 holes contained visible gold and massive sulphides as well as 30 assays of greater than 10-gram metres
- It means the company can seriously look at increasing its mineral resource estimate from inferred to indicated soon
- Despite the news, Silver Lake remains in the grey today, selling shares for $1.95 each
Silver Lake Resources (SLR) has reported multiple high-grade gold and copper assays from resource definition drilling at the Deflector Operation in Western Australia.
The company is especially bullish about an extraordinary 7.4 metre at 98.7 grams per tonne of gold and 11 per cent copper effort, which is one of the southernmost holes drilled to date.
It comes as Silver Lake gears up to increase its Deflector South West Mineral Resource estimate (DSW MRE) from the inferred to indicated classification.
Awesome assays
Silver Lake said the recent program returned 30 high-grade gold and copper assays greater than 10 gram-metres from the 27 holes completed, with multiple holes containing visible gold and massive sulphides.
According to the company, the results confirm the continuity of high-grade gold and copper mineralisation within the first 150 metres of strike of the DSW MRE, extending immediately south of the Deflector mine.
Following the strong results from both the development drive and the latest drilling, the drive will be extended to provide additional drill platforms to infill the southern portion of the DSW MRE and test for extensions beyond the current mineral resource.
What’s next?
Silver Lake will incorporate the assay results into an updated DSW MRE and life-of-mine planning, to evaluate the best way and timing to access south west corridor.
The company also said surface drilling is planned for the next financial year, targeting strike extensions to the Deflector lode system beyond the current underground drilling limits.
Despite the news, Silver Lake remains in the grey today, selling shares for $1.95 each at 1:41 pm AEST.