Australian Gold producer Silver Lake Resources (ASX:SLR) has released impressive exploration results, hitting course visible gold at its Daisy North targets, located at its Mt Monger project, south of Kalgoorlie.
Silver Lake drilled five holes at Daisy North, with exploration highlights including 2.00m @ 29.2 g/t Au, and 0.42m @ 51.2 g/t Au.
The gold fines are at a shallow depth, with mineralisation intersected less than 250 metres from surface.
The findings provide immediate upside for Silver Lake, with Daisy North located approximately 150 metres along strike from the Daisy underground mine development.
The company believes the results confirm the continuity of high grade mineralisation between the Daisy gold mine and the historic Caledonia exploration prospect, more than 300 metres along strike to the north.
Our exploration program continues to deliver strong results and highlights the significant discovery potential proximal to our existing Mount Monger Mining Centres,” Silver Lake Managing Director Luke Tonkin said.
“The step out drilling results validate the geological targeting model and increase our confidence in the potential to access new mining fronts at shallower elevations and along strike from existing infrastructure,” he said.
Silver Lake intends to conduct further infill and extensional drilling at Daisy North during the 2019 financial new year.
Shares in Silver Lake Resources opened trading this morning at 37 cents per share.