https://www.miningweekly.com

Silver Lake to take full ownership of Mt Monger

28th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner Silver Lake Resources would acquire the outstanding 15% in the Mount Monger joint venture (JV) from partner Newcrest Operations for A$1.57-million.

The Mount Monger JV, in Western Australia, included the Majestic and Imperial projects, which jointly host a resource estimate of 2.81-million tonnes, grading between 2.1 g/t and 8.1 g/t gold, and a total reserve estimate of 887 200 t, grading between 2.3 g/t gold and 7.6 g/t gold.

Silver Lake said on Monday that the cash consideration for the 15% interest in the project would be payable in two tranches, with the first A$1-million payable in the first tranche.

The second tranche of A$500 000 would be payable on the completion of the transaction, expected by December 5, and subject to the receipt of all necessary approvals.

A plan was currently in place to drill test to the west of the Imperial deposit, and the re-interpretation of previous geophysical work suggested that there was the possibility for another mineralised structure in the hanging wall of the Imperial deposit.

Silver Lake was also performing mining method and optimisation studies at both Imperial and Majestic.

Edited by Creamer Media Reporter

Comments

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer
Gold, hydrogen, mining boost make headlines
Gold, hydrogen, mining boost make headlines
15th March 2024
Magazine round up | 15 March 2024
Magazine round up | 15 March 2024
15th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.105 0.138s - 106pq - 2rq
Subscribe Now