Silver Lake Resources intersects high grade gold south of Lena Deposit

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

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. The 36 hole RC programme has been completed along strike south of the Lena deposit on 100 metre centres.

The drilling intercepted near surface, thick high grade mineralisation to the south for 1 km along strike and outside of the current Lena resource within the Lena shear.

The highlights are as follows: 7.0 metres at 2.7 g/t Au from 9 metres; 3.0 metres at 8.3 g/t Au from 16 metres; 2.0 metres at 6.9 g/t Au from 41 metres; 4.0 metres at 27.8 g/t Au from 90 metres - including 1 metre at 94 g/t Au from 92 metres.

“The Lena shear zone already hosts a large, high grade deposit at Lena. To extend the mineralised strike to 1.6 kilometres that is still open to the south and at depth is a significant outcome” said Silver Lake’s Managing Director Les Davis.

“These latest results provide further mining options for assessment and enhance the near term production potential of our Murchison projects.” Davis added.

The Moyagee Project contains 35 kilometres of the highly prospective 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.

The mineralisation commences within 9 metres of the surface and drill hole 10MORC016 intersected significant thick high grade mineralisation at 90 metres depth (4 metres at 27.8 g/t Au including 1 metre at 94 g/t Au).

The company said the next phase of the exploration programme at Lena South will be closely spaced infill drilling between the previously drilled sections.

http://www.proactiveinvestors.com.au/companies/news/6035/silver-lake-resources-intersects-high-grade-gold-south-of-lena-deposit-6035.html