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Silver Lakes reports slight decline in production

22nd April 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Silver Lake Resources has seen gold production for the March quarter decline slightly on the previous quarter, as high-grade mining at the Lucky Bay project, in Western Australia, was completed, and mining at the lower-grade Santa Area pits started.

Gold production for the quarter ended March reached 32 214 oz, which was down from the 38 171 oz delivered in the previous quarter.

The Lucky Bay and Santa Area operations delivered a combined 22 430 oz of gold during the quarter, while the Daisy Complex underground mine delivered an additional 17 351 oz. The Cock-eyed Bob underground mine also delivered 5 079 oz during the quarter under review.

Meanwhile, gold sales for the quarter reached 34 496 oz, with Silver Lake reporting an average realised price of A$1 601/oz, for revenues of A$55.2-million.

For the full year, the miner was expected to sell between 130 000 oz and 135 000 oz of gold.

Edited by Creamer Media Reporter

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