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Lake Shore Gold Corporation

Publié le 25 août 2009

Continues to Establish Large Gold System at Thunder Creek

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Lake Shore Gold Corp.

TSX:

LSG

 

 

 

 

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August 25, 2009

Lake Shore Gold Continues to Establish Large Gold System at Thunder Creek, Porphyry Structure Extended to at Least 1,125 Metre Depth

- TC09-68d intersects 12.17 grams per tonne (gpt) gold (Au) over 9.00 metres (m) within an overall drill intersection of 3.73 gpt over 80.30 m

- TC09-68c intersects 21.86 gpt over 1.70 m, 9.13 gpt over 0.70 m, 3.17 gpt over 15.00 m and 4.17 gpt over 13.35 m from within an overall zone of 2.34 gpt over 100.25 m

- TC09-73 successfully extends main Porphyry structure, with gold mineralization, to 1,125 metre vertical depth, potential for additional high-grade zones at this depth and below considered excellent

- Four additional holes completed, results pending

TORONTO, ONTARIO--(Marketwire - Aug. 25, 2009) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore Gold" or the "Company") today announced results for three new holes, TC09-68c, TC09-68d and TC09-73, (2,447 metres) as part of its ongoing 22,000 metre diamond drill program at the Thunder Creek joint venture property, located immediately adjacent to Lake Shore Gold's 100% owned Timmins Mine project. The Company holds a 60% interest in the Thunder Creek property, and is the operator of the joint venture with West Timmins Mining Inc.

TC09-68c was designed to test the Rusk and Porphyry zones approximately 55 metres metres up dip from previously released hole TC09-68b (which included 12.75 gpt over 83.40 m). TC09-68c intersected multiple zones of mineralization including 21.86 gpt over 1.70 m, 9.13 gpt over 0.70 m and 3.17 gpt over 15.70 m, including 23.20 gpt over 0.50 m from the Rusk Zone and 4.17 gpt over 13.35 m from the Porphyry Zone.

TC09-68d was wedged from TC09-68c and further extended the zones of mineralization by another 35 to 40m above TC09-68c. Best intercepts in TC09-68d include 4.85 gpt over 15.70 m from the Rusk Zone, and 12.17 gpt over 9.00 m in the Porphyry. The intercepts from the Rusk Zone display strong iron-carbonate alteration within a sheared contact zone including ultramafic, sedimentary and volcanic rocks, accompanied by quartz-carbonate veining, felsic dykelets and locally strong pyrite dissemination. Mineralization in the Porphyry Zone is characterized by local quartz veining, accompanied by minor sphalerite, galena, molybdenite, scheelite and pyrite. Fine visible gold specks are commonly observed at several locations within the intrusive. When the Rusk and Porphyry zones are combined as one mineralized interval, the composite grade intersected is 2.34 gpt over 100.25 m in Hole TC09-68c and 3.73 gpt over 80.30 m in Hole TC09-68d. When compared to previously released Hole TC09-68b, the widths are similar but the grades lower. The lower grades are attributable to natural variability of gold content within the overall system which is typical of high grade coarse gold deposits. Along with previously release holes TC08-54 (5.90 gpt over 26.35 m) and TC09-68 (2.87 gpt over 71.75 m), these intersections define a thick mineralization envelope over a minimum 250 m vertical height incorporating the entire porphyry and portions of the Rusk Zone. This adds a prospective new target with bulk and/or high grade potential for the project.

TC09-73 was a major "step-out" hole designed to explore for the Rusk and Porphyry zones approximately 245 metres down dip from Hole TC09-68 and is the deepest hole drilled at the property to date. However, due to technical problems the hole had to be abandoned before crossing through the entire Porphyry unit. Before being abandoned, TC09-73 intersected the Rusk Zone and the north side of the gold bearing Porphyry unit. Where intersected, the porphyry displayed local silicification, hematization and sporadic quartz veining containing base metals, molybdenite and scheelite, which are characteristic of previously reported high grade zones from within the Porphyry. The Porphyry also contained a generally elevated level of gold with the best intercepts ranging from 2.51 gpt to 2.89 gpt over 0.50 m widths.

Tony Makuch, President and CEO of Lake Shore Gold, commented: "The results continue to expand the mineralized structures at Thunder Creek and suggest the presence of a large scale gold system on the property which is closely linked to a major Porphyry body. The Porphyry system remains open in both directions and to depth. We took a major step out with Hole TC09-73, drilling 245 metres (approximately 800 feet) down dip from our previous deepest hole and, as a result, successfully extended the mineralized porphyry unit to a vertical depth of 1,125 metres and confirmed that several good indicators for higher grade mineralization found in holes above were still present at this depth. As such, the potential for high grade zones to this depth and even further is considered excellent and the company plans to pursue this opportunity aggressively with our future drilling. We have four additional holes completed with results pending and currently have three drills working on the property."

 
----------------------------------------------------------------------------
Hole            From          To  Interval     Section      Au          Zone
Number            (m)         (m)       (m)                gpt
----------------------------------------------------------------------------
 
TC09-68c      815.80      816.50      0.70       9550N    9.13     Rusk Zone
              831.50      833.20      1.70               21.86     Rusk Zone
              815.80      916.05    100.25                2.34      Rusk and
                                                                    Porphyry
                                                                       zones
incl.         840.00      855.70     15.70                3.17     Rusk Zone
and incl.     840.00      840.50      0.50               23.20    
and incl.     847.30      848.00      0.70               16.25    
and incl.     855.20      855.70      0.50               13.15    
and incl.     869.30      870.30      1.00                8.24      Porphyry
and incl.     890.85      904.20     13.35                4.17      Porphyry
and incl.     910.10      911.00      0.90               10.89      Porphyry
 
TC09-68d      717.20      817.70      0.50                5.00     Rusk Zone
              823.50      903.80     80.30                3.73      Rusk and
                                                                    Porphyry
                                                                       zones
incl.         824.00      839.70     15.70                4.85     Rusk Zone
and incl.     832.00      834.40      2.40                8.50    
and incl.     860.50      869.50      9.00               12.17      Porphyry
and incl.     878.50      880.40      1.90               13.02      Porphyry
and incl.     887.50      890.00      2.50               10.18      Porphyry
 
TC09-73     1,086.20    1,086.70      0.50                2.51     Rusk Zone
            1,088.75    1,089.25      0.50                2.73     Rusk Zone
            1,170.00    1,170.50      0.50                2.89      Porphyry
----------------------------------------------------------------------------
 
Note: Due to uncertainties in zone orientations, true widths are not
      known at this time.
      Assays reported are uncut

 

The Thunder Creek property is a joint venture, with Lake Shore Gold owning a 60% interest and acting as project operator, with the remaining 40% interest owned by West Timmins Mining Inc.

Quality Control

The Company's Qualified Person ("QP") for the Thunder Creek property is Jacques Samson, P. Geo. As QP, he has prepared or supervised the preparation of the scientific or technical information for the property and has verified the data disclosed in this press release.

Lake Shore Gold has a quality control program to ensure best practices in the sampling and analysis of drill core. Assays have been completed using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than three grams per tonne gold, another pulp is taken and fire assayed with a gravimetric finish. 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.

About Lake Shore Gold

Lake Shore Gold Corp. is a mineral development and exploration company that is moving towards gold production through its 100%-owned Timmins Mine project, where the Company is sinking a shaft and driving a ramp to access shallow mineralization. The wholly owned Bell Creek Mill, located on the east side of Timmins, was refurbished to a capacity of 800 tonnes per day as of the end of 2008, with the Mill's capacity currently being increased to 1,500 tonnes per day. The Company recently commenced an underground advanced exploration program at its Bell Creek Complex, including the Bell Creek Mine, Schumacher and Vogel properties, which have the potential to become the Company's second mining project in the Timmins Camp, and is pursuing a number of other highly prospective exploration properties in Northern Ontario and Quebec. Lake Shore Gold's common shares trade on the TSX under the symbol LSG.

Forward-looking Statements

Certain statements in this press release relating to the Company's exploration activities, project expenditures and business plans are "forward-looking statements" within the meaning of securities legislation. 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 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, 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 Lake Shore Gold's most recent Annual Information Form and other regulatory filings which are posted on SEDAR at
www.sedar.com.

There is no guarantee that drill results reported in this news release will lead to the identification of a deposit that can be mined economically, and further work is required to identify a reserve or resource.

To view Figure 1. Plan view, please visit the following link:
http://media3.marketwire.com/docs/LSG825F1.pdf.

To view Figure 2. Long Section, please visit the following link:
http://media3.marketwire.com/docs/LSG825F2.pdf.

To view Figure 3. Cross Section, please visit the following link:
http://media3.marketwire.com/docs/LSG825F3.pdf.

 

CONTACT INFORMATION:

Lake Shore Gold Corp.
Tony Makuch
President & CEO
(416) 703-6298
info@lsgold.com

or

Lake Shore Gold Corp.
Mark Utting
Vice-President, Investor Relations
(416) 703-6298
info@lsgold.com

INDUSTRY: Manufacturing and Production - Mining and Metals

 

 

 



Lake Shore Gold Corporation

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CODE : LSG.TO
ISIN : CA5107281084
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Lake Shore Gold est une société de production minière d'or basée au Canada.

Lake Shore Gold détient divers projets d'exploration au Canada.

Son principal projet en production est TIMMINS MINE au Canada et ses principaux projets en exploration sont BELL CREEK, BLAKELOOK, THORNE, THUNDER CREEK, WEST TIMMINS et BAND ORE au Canada et LA BUFA, UNIVERSO, MONTAÑA DE ORO et LLUVIA DE ORO au Mexique.

Lake Shore Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 956,5 millions CA$ (734,7 millions US$, 646,6 millions €).

La valeur de son action a atteint son plus bas niveau récent le 01 février 2002 à 0,02 CA$, et son plus haut niveau récent le 11 mars 2011 à 4,42 CA$.

Lake Shore Gold possède 463 220 000 actions en circulation.

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Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
6,75 AU$+2,58%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
2,47 AU$+1,65%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,11 AU$+0,97%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 CA$+4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
0,93 US$-1,06%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,98 GBX-4,85%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,04 CA$+0,00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
3,35 CA$+0,30%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
10,71 CA$+3,18%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,44 CA$+5,95%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,16 AU$+3,13%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
2,65 CA$+8,16%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
45,12 US$+6,52%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,03 AU$+0,00%Trend Power :