Thunder CreekLake Shore Gold Ramp Reaches Thunder CreekDeposit, Intersects High-Grade Gold Mineralization6/29/20106:02:29 AM - Market Wire
- 200 Level ("L") access ramp exposeshigh-grade mineralization in Rusk Zone. - Among high-grade interceptsfrom initial underground drilling are: 12.60 gpt over 9.10 m, including19.27 gpt over 5.60 m, 15.07 gpt over 10.40 m, including 65.89 gpt over3.60 m, and 8.59 gpt over 8.90 m, including 15.03 gpt over 4.65 m. -Mineralization shows similar characteristics to previously reportedTC07-36 (24.61 gpt over 7.00 m), including visible gold ("VG"). - Zoneintersected carries minimum 150 m strike length, remains open tonortheast and southwest, and demonstrates potential for high-gradeextensions up plunge towards surface.
TORONTO, ONTARIO, Jun 29,2010 (MARKETWIRE via COMTEX News Network) --
Lake Shore Gold Corp.(TSX: LSG) ("Lake Shore Gold" or the "Company") today announced that thenew access ramp connecting the Timmins Mine to the Thunder CreekDeposit has reached Thunder Creek and intersected high-grademineralization. In addition, the Company also reported high-gradeintersections from the initial five holes (2,081 m) of undergrounddrilling to test the Thunder Creek Rusk Zone.
Tony Makuch,President and CEO of Lake Shore Gold, commented: "Reaching themineralization at Thunder Creek is a critical milestone for Lake ShoreGold as we move forward to establish an initial National Instrument43-101 compliant resource estimate at Thunder Creek and to develop theproject and bring it into production. We are very pleased with themineralization encountered so far in the ramp, which is consistent withthe mineralization from surface and underground diamond drilling. Theinitial results from underground drilling have also easily met ourexpectations based on past drilling and support our belief that ThunderCreek is destined to be a very substantial and successful miningproject.
"Over the next month, our work along the 200 L accessramp will focus on diamond drilling, drifting in support of diamonddrilling and establishing required infrastructure. Once more drillresults are received we plan to commence development along themineralization in August which will allow us to begin initial processingof Thunder Creek mineralization at the Bell Creek Mill later in theyear consistent with our target for 2010 of at least 10,000 ounces ofgold from Thunder Creek."
Underground drilling was completed fromtwo cut-outs off the 200 L access ramp located 150 and 400 m north ofthe Thunder Creek Deposit. The drilling targeted the area of theprojected intersection of the new ramp with the Rusk Horizon. Amongsignificant results are: 12.60 gpt over 9.10 m, including 19.27 gpt over5.60 m, in TC200-002A; 15.07 gpt over 10.40 m, including 65.89 gpt over3.60 m, in TC200-004; and 8.59 gpt over 8.90 m, including 15.03 gptover 4.65 m, in TC200-005A. TC200-002A tested the Rusk Zone 15 m belowand to the east of previously announced surface hole TC07-36 (24.61 gptover 7.00 m). TC200-004 tested the Zone 30 m above and to the east ofTC07-36, while TC200-005A tested the Zone 15 m to the east of TC07-36.
Thebest mineralization encountered in the five initial holes displayedcharacteristics similar to those found in TC07-36, which include locallyintense carbonate, hematite and potassic alteration, 1 to 5% sulphidemineralization and VG. All four holes also intersected small lenses ofporphyry similar to those found in deeper surface holes intersecting thePorphyry Zone. The Zone is open to the northeast and southwest andbased on previous wide spaced surface drilling has a minimum strikelength at this elevation of 150 m. The results in TC200-004 also suggestthe potential to identify significant high-grade mineralization abovethe 300 L and up- plunge of the high-grade core of the Zone towardssurface.
Four additional holes, TC200-006, TC200-007, TC200-008and TC200-009B, have also been completed from the cutout located 150 mfrom the Zone and are in various stages of logging, sampling andassaying. TC200-006 and TC200-007 were drilled 15 and 30 m above TC200-005A, respectively, with TC200-008 being drilled 15 m below. TC200-009Btested the zone 15 m east of surface hole TC07-30 (12.81 gpt over 3.1 m)which is 15 m east of TC200-005A. Observations to date indicate thatall four of these holes have successfully intersected the Rusk Zoneencountering similar alteration and locally elevated sulphides as wasfound in the initial five holes being reported today. Additionally, VGwas observed in holes TC200-006, TC200-007 and TC200-008.
Drillingoff the 200 L is presently continuing with two drills working from twoseparate cut-outs located 150 m from the Rusk Zone. The focus of thedrilling is to continue expanding the drill pattern outwards from thecurrently drilled area on a 15 m wide by 15 m high pattern.