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At Deflector, north east of Perth, high-grade gold and copper hits were headlined by 1.3m grading 389 grams per tonne gold and 4.7% copper, while at First Tank, located 1km from the Mt Monger operation, 4m at 10gpt gold was hit "within a lithological unit not previously targeted by exploration on the Aldiss land package".
Exploration is continuing with A$21 million being expended by its geologists in 2012 and Silver Lake of the belief a "step change" in Deflector's size and quality is in the offing.
Silver Lake has an estimated $300 million in cash.
Shares in Silver Lake were down 1.5% to $2.46 in morning trade, capitalising the miner at nearly $2.2 billion.
