Lake Shore Gold Identifies New, High-Grade Structures Near Current Mining at Bell Creek Labine Deposit
26 Marzo 2014 - 10:00AM
Marketwired
Lake Shore Gold Identifies New, High-Grade Structures Near Current
Mining at Bell Creek Labine Deposit
TORONTO, ONTARIO--(Marketwired - Mar 26, 2014) -
- New, high-grade intersections reported in previously untested
gap in Labine Deposit North A Zone and in two new hanging wall
structures east of current mining (14.12 gram per tonne ("gpt")
over 10.2 metres ("m"), 8.41 gpt over 12.0 m and 7.01 gpt over 10.7
m)
- Additional new high-grade structure, and intercepts in North A
Zone, defined near active mining from drilling on 685 Level,
intercepts include 11.42 gpt over 3.6 m, 8.47 gpt over 4.6 m, 7.76
gpt over 8.7 m, 5.96 gpt over 6.5 m and 6.38 gpt over 6.0 m
- Revised resource model for Labine Deposit suggests potential
for significantly higher grades within slightly narrower structures
below 685 Level
- Additional drilling to confirm and expand zones below 685 Level
in progress
Lake Shore Gold Corp. (TSX:LSG)(NYSEMKT:LSG) ("Lake Shore Gold"
or the "Company") today announced the results from 16 new holes
(3,718 metres) from drilling at the Bell Creek Mine in the area now
called the Labine Deposit, representing all of the mine's currently
known zones. The new holes were drilled as part of a program
designed to confirm and expand resources below the 685 Level. The
program includes approximately 2,593 metres from the 2014 operating
and capital budgets of 9,850 metres as well as 1,125 metres from a
new 3,750 metre exploration budget announced in January 2014.
Key intersections being reported include 14.12 gpt over 10.2 m
in BC610-865, 8.41 gpt over 12.0 m in BC610-911, 7.01 gpt over 10.7
m in BC610-863A and 6.02 gpt over 7.6 m in BC610-872. The drilling,
completed from the 610 Level, was concentrated in an untested gap
near the east limit of the current resource (Table 1 and Figures 1
and 2). The holes identify new high-grade intercepts within the
North A Zone and also define two new hanging wall structures 100
metres to the east of current mining (HW6 and HW7). The new
structures identified in the program appear to follow a similar
southwest trend as other hanging wall structures being mined
further to the west, but with thicker widths and better grades.
Additional results being announced include 11.42 gpt over 3.6 m
in BC685-901, 8.47 gpt over 4.6 m in BC685-901, 7.76 gpt over 8.7 m
in BC685-860A, 5.96 gpt over 6.5 m in BC685-861 and 6.38 gpt over
6.0 m in BC-685-902. These holes were drilled on the 685 Level in
close proximity to active mining. The holes are considered
important as they include new high-grade intercepts in the North A
Zone and define a third new hanging wall structure from the current
drilling that provides additional support for a revised deposit
model the company is developing for the mine.
The revised deposit model is based on multiple southwest
trending veins branching from the North A Zone rather than previous
models which were based mainly on east-west trending zones. The
revised model assumes somewhat narrower mining widths but with
significantly higher grades for certain zones. By combining the
results of previous drilling with the new holes being announced
today, the Company has to date identified at least 7 new hanging
wall structures, as well as several examples of intercepts from
previously drilled holes crossing these new structures where widths
could be reduced slightly to increase grades.
Tony Makuch, President and CEO of Lake Shore Gold, commented:
"These early results from our 2014 drill program are very
encouraging. They include high-grade intercepts in an untested gap
in the Labine Deposit and have identified a number of new,
high-grade structures near current mining. The results indicate
that considerable potential exists to add ounces at Bell Creek,
particularly on the hanging wall, as well as to significantly
increase average grades in some areas at somewhat narrower widths.
We have been very pleased with our operations at Bell Creek, where
our average reserve grade was recently increased to 4.7 gpt and
where production this year is on track to increase by more than
25%. We have one drill turning presently, which is continuing to
test for new zones below the 685 Level, and are in the process of
deploying a second drill for the same purpose."
Quality
Control
The Qualified Person ("QP") for Lake Shore Gold's drill program
at the Bell Creek Mine is Eric Kallio, P.Geo. who, as a 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. Kallio is an employee of Lake
Shore Gold.
Lake Shore Gold has a quality control program to ensure best
practices in the sampling and analysis of drill core. Normal
practice for all programs has been to insert three Quality Control
samples including one blank, one certified standard and one reject
duplicate at a frequency of every forty drill core samples
submitted. The blanks and the certified standards are checked to be
within acceptable limits prior to being accepted into the GEMS SQL
database. Routine 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 remaining pulp is taken
and fire assayed with a gravimetric finish.
Underground drilling at the Bell Creek Mine utilizes two
different core sizes including; LTK-48 with a core diameter of
35.3mm (Bazooka drill) and BQ which has a core diameter of 36.4mm
(electric drills). Sampling of drill core is conducted in intervals
according to geological control (minimum 30cm, maximum 1.5m,
averaging 1.0m) with all core being whole core sampled and pulps
being stored in cold storage. For select drill holes, core is saw
cut, the remaining half is stored in a secure location.
Gold analysis for underground drill core at Bell Creek has
utilized three analytical laboratories. All underground drill core
is analyzed at either ALS Canada Ltd. (2090 Riverside Drive,
Timmins and 2103 Dollarton Hwy, North Vancouver), Activation Lab
(1752 Riverside Drive, Timmins) or Lake Shore Gold Corp.'s Bell
Creek Complex mill laboratory. ALS Canada Ltd. is ISO 9001:2008 and
ISO 17025 certified. Activation Laboratories Ltd. in Timmins is ISO
9001 certified and follows their fully certified main Ancaster,
Ontario lab analytical procedures (working towards ISO 17025 CANP4E
in early 2014). Lake Shore Gold Corp's Bell Creek mill laboratory
is not ISO certified.
About Lake Shore
Gold
Lake Shore Gold is a gold mining company that is in production
and is generating net free cash flow from its wholly owned
operations in the Timmins Gold Camp. The Company is in production
at both the Timmins West and Bell Creek mines, with material being
delivered for processing to the Bell Creek Mill. In addition to
current operations, the Company also has a number of highly
prospective projects and exploration targets, all located in and
around the Timmins Camp. The Company's common shares trade on the
TSX and NYSEMKT under the symbol LSG.
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.
Table 1. New Drilling from 610 Level |
HOLE-ID |
Section |
From (m) |
To (m) |
Zone Width (m) |
Au Comp (gpt) |
Zone |
BC610-863A |
5950 |
143.0 |
145.2 |
2.2 |
3.40 |
NA2 |
|
|
167.3 |
178.0 |
10.7 |
7.01 |
HW6 |
|
inc |
167.3 |
174.0 |
6.7 |
9.10 |
|
|
|
201.0 |
203.2 |
2.2 |
3.65 |
NA |
BC610-864 |
5950 |
154.4 |
160.0 |
5.6 |
4.64 |
NA2 |
|
|
180.1 |
182.7 |
2.6 |
2.65 |
HW6 |
|
|
213.8 |
216.0 |
2.2 |
5.05 |
NA |
BC610-865 |
5950 |
174.7 |
177.0 |
2.3 |
4.28 |
NA2 |
|
|
190.7 |
200.9 |
10.2 |
14.12 |
HW6 |
|
|
230.6 |
238.9 |
8.3 |
5.29 |
HW8 |
|
inc |
230.6 |
233.0 |
2.4 |
10.04 |
|
|
inc |
236.0 |
238.9 |
2.9 |
4.55 |
|
|
|
257.6 |
259.6 |
2.0 |
2.94 |
NB2 |
BC610-866 |
5950 |
126.2 |
128.3 |
2.1 |
5.39 |
NA2 HW |
|
|
139.2 |
141.9 |
2.7 |
8.00 |
NA2 |
|
|
170.5 |
173.0 |
2.5 |
5.08 |
HW6 |
|
|
193.7 |
196.0 |
2.3 |
4.07 |
NA |
BC610-867 |
5950 |
130.0 |
134.7 |
4.7 |
2.47 |
NA2 |
|
|
166.1 |
168.3 |
2.2 |
0.36 |
HW6 |
|
|
197.1 |
199.3 |
2.2 |
1.15 |
NA |
|
|
219.0 |
221.4 |
2.4 |
3.66 |
NB2 |
BC610-871 |
5950 |
200.0 |
203.4 |
3.4 |
4.95 |
NA2 |
|
|
277.3 |
279.3 |
2.0 |
3.26 |
NA |
|
|
353.3 |
355.6 |
2.3 |
6.11 |
NB |
BC610-872 |
5950 |
185.0 |
192.6 |
7.6 |
6.02 |
HW6 |
|
inc |
185.0 |
187.9 |
2.9 |
10.95 |
|
|
|
255.8 |
258.9 |
3.1 |
3.39 |
NA |
|
|
286.9 |
290.4 |
3.5 |
5.08 |
NB2 |
BC610-911 |
5950 |
210.3 |
212.3 |
2.0 |
1.91 |
NA2 |
|
|
243.6 |
255.6 |
12.0 |
8.41 |
HW7 |
|
inc |
243.6 |
251.0 |
7.4 |
9.38 |
|
|
inc |
253.6 |
255.6 |
2.0 |
13.02 |
|
|
|
286.0 |
288.0 |
2.0 |
1.07 |
NA |
|
|
|
|
|
|
|
Table 2. New Drilling from 685 Level |
HOLE-ID |
Section |
From (m) |
To (m) |
Zone Width (m) |
Au Comp (gpt) |
Zone |
BC685-860A |
|
73.3 |
75.3 |
2.0 |
3.97 |
HW5 |
|
|
82.4 |
84.5 |
2.1 |
3.51 |
NW4 |
|
|
126.2 |
134.9 |
8.7 |
7.76 |
NA |
BC685-861 |
|
87.5 |
90.0 |
2.5 |
4.18 |
HW4 |
|
|
129.7 |
136.2 |
6.5 |
5.96 |
NA |
|
inc |
132.8 |
136.2 |
3.4 |
8.93 |
|
|
|
155.4 |
160.7 |
5.3 |
2.75 |
NB2 |
|
inc |
155.4 |
157.6 |
2.2 |
3.63 |
|
BC685-901 |
5862 |
0.0 |
3.6 |
3.6 |
11.42 |
NA |
|
|
7.7 |
10.1 |
2.4 |
11.11 |
HW2 |
|
|
13.0 |
17.6 |
4.6 |
8.47 |
HW3 |
|
|
|
|
|
|
|
BC685-902 |
5850 |
0.0 |
6.0 |
6.0 |
6.38 |
NA |
|
|
7.7 |
10.2 |
2.5 |
0.36 |
HW2 |
|
|
23.4 |
25.6 |
2.2 |
5.07 |
HW3 |
|
|
34.8 |
38.0 |
3.2 |
3.05 |
HW4 |
|
|
|
|
|
|
|
BC685-903 |
5837 |
11.5 |
13.8 |
2.3 |
7.23 |
HW2 |
|
|
25.0 |
27.0 |
2.0 |
4.37 |
HW3 |
|
|
34.6 |
36.6 |
2.0 |
1.95 |
HW4 |
|
|
39.0 |
41.2 |
2.2 |
1.39 |
HW5 |
|
|
|
|
|
|
|
Notes: |
1.
Zones in BC685-904 and BC905 cut off by faulting and BC685-862 only
low grades. |
|
2.
Assays are uncut and true widths are not reported. |
|
3.
Intersections in BC685-901 and BC685-902 are partial intercepts
(holes were drilled from new development in North A Zone). |
To view 'Figure 1: Geology Map', please visit the following
link: http://media3.marketwire.com/docs/lakefig10325.pdf
To view 'Figure 2: Cross Section (5950E)', please visit the
following link:
http://media3.marketwire.com/docs/lakefig20325.pdf
Lake Shore Gold Corp.Tony MakuchPresident & CEO(416)
703-6298info@lsgold.comLake Shore Gold Corp.Mark
UttingVice-President, Investor Relations(416)
703-6298info@lsgold.comwww.lsgold.com
Grafico Azioni Lake Shore Gold Corp Ordinary Shares (Canada) (delisted) (AMEX:LSG)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Lake Shore Gold Corp Ordinary Shares (Canada) (delisted) (AMEX:LSG)
Storico
Da Lug 2023 a Lug 2024