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  • Silver Lake Resources Director Increases Stake On Market 0 comments
    May 22, 2013 1:44 AM

    Silver Lake Resources (ASX: SLR) non-executive director Brian Kennedy has increased his indirect interest in the company by a further 280,000 shares acquired on-market.

    The shares were acquired at an average price of $0.689375 per share for a total consideration of $193,025 by Pauline Kennedy and Briken Nominees as trustees for the Briken Trust.

    Kennedy now holds 75 shares directly and 4,555,377 shares indirectly.

    Silver Lake has logged further thick, high grade copper and gold intercepts from infill drilling at its Hollandaire deposit within the Eelya Complex, part of the Murchison gold project located 600 kilometres north of Perth.

    This could add a copper, gold and silver concentrate revenue stream to the Murchison gold project, thereby reducing all-in-sustaining cash costs at the gold operation.

    The nearby gold mill has been constructed with the possible addition of a concentrate circuit in mind. The crusher already has excess capacity and provision has been made for the ready addition of a grinding and flotation circuit.

    The Hollandaire inferred resource of 2.8 million tonnes at 1.6% copper, 0.4 g/t gold and 5 g/t silver with the supergene zone averaging 4.7% copper sits below gold mineralisation that extends from the surface down to 50 vertical metres depth.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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