Silver Lake Resources Limited: Resource and Reserve Statement

Silver Lake Resources Limited (ASX: SLR) presented its latest Mineral Resource and Ore Reserves statement as of June 30, 2023. The company reports a Group Ore Reserve of 1.44 million ounces of gold and 2,768 tonnes of copper, reflecting a 9% increase when accounting for FY23 mine depletion. Group Mineral Resources stand at 6.19 million ounces of gold and 14,400 tonnes of copper, a 9% reduction in absolute terms, or 5% lower after considering FY23 mine depletion.

At the Mount Monger site, notable highlights include a 33% increase in Ore Reserves, led by the Daisy Mining Centre and Santa Complex. The addition of the high-grade Flora Dora open pit at the Santa Complex offers new scheduling opportunities for open pit mining in January 2024. The Deflector region, despite a decrease in Ore Reserves and Mineral Resources, maintains potential for growth, supported by results from the Spanish Galleon area. Finally, at Sugar Zone, Ore Reserves have increased by 7%, and a significant drill program in FY24 aims to unlock the full potential of the resource base and the extensive land package hosting greenstone belts.

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