WTM
WEST TIMMINS MINING INC
High-Grade Gold Intersected on West Timmins' Thunder Creek Property, Ontario
8/1/2007
VANCOUVER, BRITISH COLUMBIA, Aug 1, 2007 (CCNMatthews via COMTEX News Network) --
West Timmins Mining Inc. (TSX:WTM) announced today that it has been informed by project operator Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore") that a new zone of high-grade gold mineralization has been intersected on the Thunder Creek property near Timmins, Ontario. The Thunder Creek property and new gold zone are immediately adjacent to Lake Shore's Timmins West property, which hosts 1.3 million ounces of gold in the measured and indicated category and another 200,000 ounces in the inferred category(1). The character of the mineralization in this new gold zone is similar to the Ultramafic zones that hosts the majority of the gold mineralization at Timmins West.
Hole TC07-30 returned 10.91 g/t gold over 3.65 metres, including 14.68 g/t gold over 2.65 metres from the new UM1 zone. The high-grade intercepts are hosted within a 6.80-metre wide structural zone of strong alteration and mineralization. A second new zone of gold mineralization (UM2) located 8.75 metres further down the hole returned 5.43 g/t gold over 1.20 metres. Both of these mineralized zones are hosted within a large ultramafic body, identical to the host of the Ultramafic zones on the Timmins West property. These two zones appear to be sub-parallel to the Rusk Zone which returned 27.60 g/t gold over 0.50 metres from a visible gold bearing intercept lower in the same hole. The Rusk Zone is located within another intensely altered shear zone along the southeast contact between the ultramafic body and adjacent sedimentary lithologies.
Lake Shore President and CEO Brian Booth noted the new mineralized zones at Thunder Creek are shallow, at 280 metres below surface, and remains open along strike and at depth. "For the first time at Thunder Creek we have hit ultramafic-style gold mineralization that is similar to the Ultramafic zones at Timmins West," said Booth. "This intersection confirms the potential of the Thunder Creek ultramafic intrusion to host high-grade gold mineralization with significant upside potential. The new intersections are located only 865 metres southwest of the location of the planned Timmins West shaft. If the discovery proves to be of sufficient size it may be accessible from the Timmins West shaft." He added that one rig will continue to drill at Thunder Creek to determine the geometry of the new zones prior to making the decision to add additional drills.
------------------------------------------------------------------ From ToHole (Meters Down (Metres Down Interval GoldNo. Hole) Hole) Metres g/t Comments------------------------------------------------------------------TC07-30 384.80 388.45 3.65 10.91 UM Zone 1Incl. 385.80 388.45 2.65 14.68------------------------------------------------------------------ 397.20 398.40 1.20 5.43 UM Zone 2------------------------------------------------------------------ 408.50 409.00 0.50 27.60 Rusk Zone------------------------------------------------------------------
The true widths of these new zones are not known at this time as further drilling is required to determine their orientation. Lake Shore has indicated that a location map and composite longitudinal section for the new discovery will be made available shortly and will be posted on the Company's website at www.westtimminsmining.com upon receipt.
"The discovery of high-grade gold zones within the ultramafic sequence at Thunder Creek continues to demonstrate the potential of the West Timmins District," said Darin Wagner, President and CEO of West Timmins Mining. "The ultramafic body which hosts the new discovery can be traced for over 8,000 metres through our 114 square kilometre West Timmins Gold Project. This sequence is clearly a priority target for ongoing drill testing on our 100% owned and joint venture properties."
Lake Shore Gold may earn a 60% interest in Thunder Creek Property pursuant to an option agreement with West Timmins Mining Inc. through a series of cash and share payments and by completing $1.7 million in exploration expenditures on the property over a five-year period ending in September 2008. Approximately $1 million in expenditures have been incurred to date.
Quality Control
The following information is supplied by the project operator with respect to the information contained herein. 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 50g aliquot. For samples that return a value greater than 3 grams per tonne gold, another pulp is taken and fire assayed with a gravimetric finish. Zones with visible gold were conducted 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.
Lake Shore's Qualified Person ("QP") for the Thunder Creek property is Mr. Jacques Samson, P.Geo. As QP he has prepared or supervised the preparation of the scientific or technical information for the property.
About West Timmins Mining Inc. (www.westtimminsmining.com):
West Timmins Mining Inc. is focused on exploring and developing district scale gold and related base metal projects in North America. West Timmins Mining is the largest land holder in the West Timmins district, adjacent to the 70 million ounce Timmins Gold Camp in Ontario, Canada. West Timmins Mining Inc. is also active in the Sierra Madre gold belt in Mexico, home to the Company's Montana de Oro and Yoquivo projects. Drill testing is ongoing on the Montana de Oro project, which hosts the La Dura polymetallic discoveries. West Timmins is based in Vancouver, British Columbia, Canada and trades on the Toronto Stock Exchange under the symbol WTM.
On behalf of the Board of West Timmins Mining Inc.
Darin W. Wagner, President and Chief Executive Officer
For further detail on West Timmins Mining Inc. please refer to prior disclosure at www.SEDAR.com.
The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, or under any U.S. state securities laws, and such securities may not be offered or sold in the United States absent an exemption from such registration requirements.
This press release contains forward looking statements within the meaning of applicable under Canadian and U.S. securities regulation, including statements regarding the future activities of the Company. Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "expected to", "plans, "anticipated" and other similar words. The achievement of the results, successful completion of the previously announced financing and plans for the funds to be raised through said offering are forward looking statements and are subject to a number of risks, including those described in the company's annual information form as filed with the Canadian securities regulators which are available at www.sedar.com. Actual results may differ. Investors are cautioned not to place undue reliance upon forward looking statements.
(1) As announced on November 20, 2006, Lake Shore Gold's Timmins West deposit hosts gold resources totalling 1.29 million ounces (uncut) in the indicated category and an additional 207,000 ounces (uncut) in the inferred category. The indicated resource contains 3.3 million tonnes of ore grading 12.29 grams per tonne (uncut), and the inferred resource contains 968,000 tonnes grading 5.79 grams per tonne (uncut). Lake Shore's Qualified Person ("QP") for Timmins West is Mr. Jacques Samson, P.Geo. As the QP he has prepared or supervised the preparation of the scientific or technical information for the property. For details refer to Lake Shore's news release dated November 20, 2006.
SOURCE: West Timmins Mining Inc.
West Timmins Mining Inc. Darin W. Wagner President & CEO (604) 685-8311 or Toll Free: 1-866-685-8311 Website: www.westtimminsmining.com