Silver Lake sees opportunity for Sugar Zone ‘reset’

24th November 2023 By: Mariaan Webb - Creamer Media Senior Deputy Editor Online

Silver Lake sees opportunity for Sugar Zone ‘reset’

Australia-based gold mining firm Silver Lake Resources continues to believe in the potential of the Sugar Zone mine, in Ontario, Canada, says chairperson David Quinlivan.

The company, which in early 2022 bought the mine when it was under creditor protection, has made capital investments in the mine to upgrade core underground and surface infrastructure.

The next key component of its plan for Sugar Zone in the current financial year entails an investment in a 93 000 m drill programme on prioritised grade control, resource definition and advanced exploration targets both within the mine and regionally on its prospective land holding in the province.

“Silver Lake believes there is significant opportunity at Sugar Lake for a strategic ‘reset’ at this operation through the application of more efficient operating practices and further discovery,” said Quinlivan on Friday.

In August, Silver Lake ceased mining at the gold mine to implement its “reset” plan.