Lake Shore Gold Announces Significant Extension of High-Grade Core at Gold River Trend
07 Giugno 2012 - 12:00PM
Marketwired
Lake Shore Gold Corp. (TSX:LSG)(NYSE MKT:LSG)(NYSE Amex:LSG) ("Lake
Shore Gold" or the "Company") today announced the results of seven
new holes (1,440 m) of drilling at the Company's Gold River Trend
property (the "Property"). Resources at Gold River Trend are
contained within two deposits, the East Deposit and West Deposit,
both of which are located approximately 4.0 kilometres south of the
Timmins West Mine shaft. The deposits include 2.5 kms of
mineralized showings along the Gold River Trend, a major alteration
and deformation zone lying north of the Destor Porcupine Fault
Zone. In combination, the current resource for both deposits
include 117,400 ounces Au (690,000 tonnes grading 5.29 gpt) in the
Indicated category and 1,027,800 ounces Au (5,273,000 tonnes at an
average grade of 6.06 gpt) in the Inferred category.
Of the current resources, 310,900 ounces (986,000 tonnes grading
9.81 gpt) are located within a high-grade core in the East Deposit
between 400 and 800 metres from surface, which remains open. The
results being released today include extensions of the high-grade
core by 125 m to depth and 120 m to the west, with mineralization
also intersected 420 m to the east of the existing resource.
Tony Makuch, President and CEO of Lake Shore Gold, commented:
"Today's drill results continue to confirm and extend the size of
the overall gold system at the Gold River Trend and highlight the
potential for the high-grade core within the East Deposit to be
much larger than previously estimated. With an average grade of
close to 10.00 gpt, the high-grade core is a very attractive target
and extensions in any direction afford us the opportunity to
significantly increase the resource base within this very large
land position and to grow the value of the Gold River Trend
project."
Included in the results are four holes (TH-12-132, TH-12-133,
TH-12-134 and Th-12-134A) testing below and to the west of the
current resource. All four holes intercepted multiple, parallel
zones of mineralization. TH-12-134 and 134A extended the high grade
core (referred to as the 4800_SD3 Zone) 125 m below the bottom of
the resource with intersections of 4.59 gpt over 2.10 m and 2.55
gpt over 5.00 m, respectively. The best results were an intercept
of 18.48 gpt over 4.00 m, including 86.25 gpt over 0.80 m in
TH-12-134A, located 120 m west of the 4800_S1 Zone. TH-12-134A is
also 475 m above and 100 m west of previously announced results in
TH-11-94A, which also contained multiple zones and intersections
such as 5.93 gpt over 3.00 m, 3.50 gpt over 3.50 m and 3.26 gpt
over 2.45 m (see press releases dated August 30, 2011 and January
17, 2012). The new intercept in TH-12-134A is closely associated
with a quartz feldspar porphyry dike containing quartz ankerite
veining up to 5% disseminated pyrite and arsenopyrite and local
visible gold. Based on the new information from these two holes,
the potential for continued resource expansion in this area is
considered excellent.
An additional three holes tested areas up to 740 m east of the
current resource (TH-12-129, TH-12-130 and TH-12-131). These three
holes also intersected multiple zones of strong alteration,
deformation and mineralization with the best results including
18.55 gpt over 1.00 m and 4.56 gpt over 1.50 m in TH-12-131.
Considering the extremely limited amount of previous drilling and
the nature of results in these initial wide-spaced holes, the
potential to for further resource additions is considered
excellent.
In addition to the drill intersections being reported,
observations from recent drilling indicate that the Gold River
mineralization is coincident with a strong shear zone that may
represent an early thrust fault that introduces a mafic volcanic
unit into the Porcupine Sedimentary Basin, similar to the
structural setting in the Hoyle Pond-Vogel-Bell Creek Belt further
east in the Timmins Camp.
These observations are significant given that gold
mineralization within Timmins West Complex is largely concentrated
at or near the contact between mafic volcanics and sediments. The
possibility for additional up-thrusted mafic units to the north and
south such as the Red Porphyry trend and Thibault trend are
excellent and partly delineated by strong magnetic trends in recent
geophysics and limited drilling. The Red Porphyry trend is
projected intermittently over a 5.3 km strike length and has been
tested with only 13 historic drill holes. Best historic
intersection is 5.21gpt over 1.5m (GW-04-03). The Thibault trend
has been traced for a 5.9 km strike length through the historic
shallow Thibault shaft and has been tested by about 21 historic
holes (13 in the shaft area) with the best intersection of 7.08gpt
over 1.0m (GS-05-06). Work to further examine this concept and to
test these areas is underway.
Quality Control
The Qualified Person ("QP") for Lake Shore Gold's drill program
at the Gold River Trend property is Jacques Samson, P.Geo. who as
QP has prepared or supervised the preparation of the scientific or
technical information for the property and verified the data
disclosed in this press release. Mr. Samson is an employee of Lake
Shore Gold.
Lake Shore Gold has implemented a quality-control program to
ensure best practice in the sampling and analysis of the drill
core. Assays have been completed using a standard fire assay with a
30-gram aliquot. For samples that return a value greater than ten
grams per tonne gold, the sample is fire assayed with a gravimetric
finish. Select zones with visible gold are tested by pulp metallic
analysis. NQ size drill core is saw cut and half the drill core is
sampled in standard intervals. The remaining half of the core is
stored in a secure location. The drill core is transported in
security sealed bags for preparation at ALS Chemex Prep Lab located
in Timmins, Ontario, and the pulps shipped to ALS Chemex Assay
Laboratory in Vancouver, B.C. ALS Chemex is an ISO 9001-2000
registered laboratory preparing for ISO 17025 certification.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release relating to the
Company's expected production levels, production growth,
exploration activities, potential for increasing resources, project
expenditures and business plans are "forward-looking statements" or
"forward-looking information" within the meaning of certain
securities laws, including under the provisions of Canadian
provincial securities laws and under the United States Private
Securities Litigation Reform Act of 1995 and are referred to herein
as "forward-looking statements." The Company does not intend, and
does not assume any obligation, to update these forward-looking
statements. These forward-looking statements represent management's
best judgment based on current facts and assumptions that
management considers reasonable, including that operating and
capital plans will not be disrupted by issues such as mechanical
failure, unavailability of parts, labour disturbances, interruption
in transportation or utilities, or adverse weather conditions, that
there are no material unanticipated variations in budgeted costs,
that contractors will complete projects according to schedule, and
that actual mineralization on properties will be consistent with
models and will not be less than identified mineral reserves. The
Company makes no representation that reasonable business people in
possession of the same information would reach the same
conclusions. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. In particular, delays in development or mining and
fluctuations in the price of gold or in currency markets could
prevent the Company from achieving its targets. Readers should not
place undue reliance on forward-looking statements. More
information about risks and uncertainties affecting the Company and
its business is available in the Company's most recent Annual
Information Form and other regulatory filings with the Canadian
Securities Administrators, which are posted on sedar at
www.sedar.com, or the Company's most recent Annual Report on Form
40-F and other regulatory filings with the Securities and Exchange
Commission.
There is no guarantee that the drill results and exploration
observations reviewed in this press release will result in the
identification of resources and/or reserves that can be mined
economically.
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Gold River Trend Project - Significant Assay Results
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Hole East From To Interval Grade
Number Nad 83 (m) (m) (m) (gpt) Zone
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TH-11-130 463030 379.00 383.00 4.00 1.94 Far East Trend
incl. 382.00 383.00 1.00 4.00
400.70 401.30 0.60 3.43
TH-11-131 462700 245.50 247.00 1.50 4.56 Far East Trend
454.00 455.00 1.00 3.77
466.00 467.00 1.00 18.55
TH-12-132 461320 156.10 162.00 5.90 3.33 4800_SD3
181.00 184.00 3.00 2.32
218.00 230.00 12.00 1.44
incl. 227.00 230.00 3.00 2.96
408.50 409.50 1.00 3.02
454.00 455.50 1.50 3.88
472.00 473.00 1.00 9.24
490.00 493.80 3.80 2.14
TH-12-133 461200 278.00 281.00 3.00 4.21 4800_SD3
382.50 386.20 3.70 4.95
414.00 417.00 3.00 4.24
607.80 608.60 0.80 4.37
637.10 640.70 3.60 1.71
TH-12-134 461340 650.00 650.70 0.70 7.83 4800_SD3
697.00 699.40 2.40 3.45
808.00 810.10 2.10 4.59
532.0 538.2 6.20 2.702 4800_SD3
TH-12-134A 461340 677.50 681.50 4.00 18.48 VG
incl. 677.50 678.30 0.80 86.25
848.00 853.00 5.00 2.55
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Notes:
1) Holes TH-11-129 returned no significant assays.
2) Assays are reported uncut.
3) True widths are not reported at this time.
To see Figure 1 - Plan View, please visit the following link:
http://media3.marketwire.com/docs/796743_fig_1.pdf
To see Figure 2 - Long Section, please visit the following link:
http://media3.marketwire.com/docs/796743_fig_2.pdf
Contacts: Lake Shore Gold Corp. Tony Makuch President & CEO
(416) 703-6298info@lsgold.com Lake Shore Gold Corp. Mark Utting
Vice-President, Investor Relations (416) 703-6298info@lsgold.com
www.lsgold.com
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