marketgainer.com: Initiates Coverage for Lakemarketgainer.com: Initiates Coverage for Lake Shore Gold Corporation
2/8/2006
Feb 08, 2006 (M2 PRESSWIRE via COMTEX) --
Lake Shore Gold Corporation (TSX:LSG) issued this news release to confirm the Company's National Instrument 43-101 ("NI 43-101") resources on its Timmins West Gold Property and the historical resource estimates on its Vogel, Desantis and Schumacher properties, which estimates are not NI 43-101 compliant resources. This release also provides an exploration update on the Company's properties in the Timmins area, Ontario.
Market Gainer is quickly emerging as the one stop shop for international small-cap investors looking to stay a step ahead of the markets. This information has been brought to your attention by the research team at marketgainer.com and comes from an unbiased perspective. Although we are a boutique research firm, we have not made any investment in Lake Shore Gold Corporation. At the present time this company is down 3%. The volume is strong with 900 thousand shares changing hands, while the current share price is at $1.99. This small cap company could boasts strong credentials and releases promising corporate developments. Back in September the share price was at the $.75 range, and doubled by November. The recent market activity is possibly just a forecast of things to come. With strong charts and positive news Market Gainer will be following the progress of this small cap opportunity.
The Timmins West Gold Property is located north of the Destor-Porcupine Fault Zone on the west end of the Timmins Gold Camp, 18 kilometres west of the city of Timmins. Drill results released on May 30, 2005 confirmed that the mineralization extends an additional 450 metres (down plunge) past the current indicated resource audit completed in September 2004, representing an order of magnitude step out for the mineralization. Subsequent drill results reported in a News Release dated August 15, 2005 further demonstrated the down plunge predictability of both the Ultramafic and Footwall mineralized zones. Core intersection highlights within the Ultramafic Zone include 4.65 grams per tonne gold (cut) over 29.10 metres, including 18.09 grams per tonne gold (cut) over 5.70 metres and another hole returning 6.2 grams per tonne gold (cut) over 10.80 metres.
On November 4, 2005 the Company reported that two holes drilled across the plunge of the ultramafic intrusive that is host to the Ultramafic Zone intersected high-grade mineralization over significant widths. Core intersection highlights include 9.28 grams per tonne gold (cut) over 24.35 metres, including 17.76 grams per tonne gold (cut) over 6.80 metres, another hole returning 6.50 grams per tonne gold (cut) over 8.75 metres, and a third hole returning 4.55 grams per tonne gold (cut) over 10.40 metres, including 24.79 grams per tonne gold (cut) over 1.50 metres. Furthermore, assay results confirm that the Ultramafic Zone and Footwall Zone mineralized envelopes maintain their consistently wide widths, strong alteration, and veining between previously drilled sections (core intersections of 3.91 grams per tonne gold over 46.00 metres, 7.87 grams per tonne gold over 33.60 metres, and 2.04 grams per tonne gold over 34.20 metres).
Five drills are currently in operation, four continuing sectional and infill drilling and the fifth testing other exploration targets on the Property. Drilling on section 4550E has been completed, while drilling continues on section 4450E and is expected to be completed by the end of February. Drilling on section 4400E (a new section) has just been initiated and will be in progress until late second quarter 2006. Once completed, the Company will have finished all previously undrilled sections at 50 metre intervals, down to section 4350E, the deepest section drilled to date. The other two drills will be testing the Main Zone and Vein Zones down plunge of their previously known extent.
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