Silver Lake Resources invests in new buildings, processing equipment at Sugar Zone Mine
The new Australian owners of the Sugar Zone Mine continue to sink investment into the underground operation near White River.
Silver Lake Resources reported it’s made “significant progress” at the mine with expenditures of almost $9 million the company’s past September quarter. Most the spending has been on processing equipment and new buildings.
Silver Lake picked up Sugar Zone last winter in an insolvency sale by Harte Gold. The South Perth-based company vowed to spend between (Australian) $35 million and $45 million ($31.4 million and $40.4 million) over the next two years to get the struggling operation to a productive and profitable state. Commercial gold production under the Harte Gold flag in 2019.
The new company wants to ramp up production at the mine 30 kilometres north of the town of White River. The operation was recently permitted to make a mining and milling rate jump up to 1,400 and 1,500 tonnes per day, respectively.