NEWS RELEASE...Bell CreekLake Shore Gold Continues to Define and Extend Large New Gold System at Bell Creek
- BC-09-53B extends mineralization to beyond 1,300 m down plunge, with multiple intercepts such as 8.99 gpt Au over 7.0 m, 14.63 gpt Au over 1.30 m, 7.71 gpt Au over 1.0 m and a broader zone of 3.12 gpt Au over 24.30 m, including 6.11 gpt over 5.50 m. - BC-09-72 intercepts include 21.43 gpt Au over 4.90 m and 15.65 gpt Au over 1.50 m and BC-09-77 intersects 6.13 gpt over 14.70 m. - BC-09-71A (9.35 gpt Au over 5.5 m) extends new gold system to the west by approximately 70 m from previously reported BC-08-09 (7.60 gpt over 6.30 m, 5.94 gpt over 5.80 m).
TORONTO, ONTARIO, Jan 18, 2010 (MARKETWIRE via COMTEX News Network) --
Lake Shore Gold Corp. (TSX: LSG) ("Lake Shore Gold" or the "Company") today announced encouraging results from 17 new holes and 5 wedge holes for 10,435 m of drilling. The results include several significant intersections which continue to confirm and expand the overall potential below the Bell Creek Mine. The results include 8.99 gpt Au over 7.0 m, 3.12 gpt Au over 24.30 m, including 6.11 gpt over 5.50 m, 14.63 gpt over 1.30 m and 7.1 gpt over 1.0 m in BC-09-53B, located 95 m below previously-reported BC-09-53 (12.67 gpt over 14.40m). The results of BC-09-53B re-enforce the results of BC-09-53 and extend the Bell Creek mineralization to below 1,300 m down plunge.
Mineralization in BC-09-53B occurs within a broad zone containing hydrothermal alteration, local quartz veining and sulphide mineralization measuring over 75 meters wide and having a strong resemblance to the zone indicated by previously reported holes BC-09-24B, BC-09-53 and BC-09-53A. Mineralization in these holes remains open for expansion to depth and to the west and gets stronger and wider to depth.
BC-09-71A intersected 9.35 gpt Au over 5.5 m, including 19.22 gpt over 2.28 m, and BC-09-069B intersected 8.05 gpt Au over 5.6 m and 9.19 gpt Au over 3.4 m, including 19.38 gpt over 1.0 m and 7.30 gpt Au over 1.70 m, in an untested gap west of previously reported BC-08-09 (7.60 gpt over 6.30 m, 5.94 gpt over 5.80 m). BC-09-71A extends the new gold system at Bell Creek to the west by approximately 70 metres from BC-08-09.
BC-09-72 intersected 21.43 gpt Au over 4.90 m and 15.65 gpt Au over 1.50 m, and BC-09-77 intersected 6.13 gpt Au over 14.70 m, including 8.04 gpt over 7.10 m. These results are in an untested area between 475 and 575 meters below surface and are located in close proximity to the planned location of the new near surface ramp which is currently being developed at Bell Creek, adding potential for near term ore feed to the Bell Creek mill. The new ramp is currently at a vertical depth of 130 meters and the historic mine workings dewatered to the full depth of 300 meters.
Tony Makuch, President and CEO of Lake Shore Gold, commented: "Today's results are exciting as they show encouraging grades, widths and continuity and support our view that a large new gold system exists at Bell Creek which is open both along strike and to depth. Drill holes filling large gaps in the vein structures above the 1,000 m level are showing mineralization to be continuous with attractive widths. As well, with significant intersections in BC-09-53B and S-09-07, we have extended the mineralization to depth reaching a total plunge length exceeding 1,300 m.
"The Company is currently carrying out an advanced underground exploration program on the property, and this work is progressing very well, including completion of the dewatering of the Bell Creek shaft and development of a new ramp from surface to intersect mineralization both in mine remnants and below the lowest mine level at 300 metres. Mineralization mined through this program will be processed at the Bell Creek Mill, located directly beside the headframe, beginning in 2010. Diamond drilling on the property is focused on extending the mineralization to the west of holes BC-09-71A and BC-09-53B as well as testing the down plunge extension of the mineralization below BC-09-53B and S-09-07. Based on results to date, an engineering study for deepening the Bell Creek shaft to a depth of 1,200 to 1,500 metres is being carried out."
Newly received assays from previously released BC-09-63 include 12.67 gpt Au over 1.20 m and from BC-09-53A include 8.02 gpt Au over 1.30 m. The new results in BC-09-53B increase the combined width of significant mineralized zones to 38.6 m which is comparable to that obtained in BC-09-53B, which totaled 36.5 m.
Also, S-09-07B intersected the zone 75 m east of BC-09-53B and returned 8.36 gpt Au over 1.30 m. Hole S-09-07 intersected the zone 75 m below BC-09-07B and obtained 8.14 gpt Au over 2.90 m. These intersections continue to illustrate the continuity of the gold system down plunge and to the east.
In addition to the new assays, interpretation of previously released results in holes BC-08-05 (6.91 gpt over 1.15 m, BC-08-06 of 3.47 gpt over 3.1 m and 12.27 gpt over 0.5 m) and BC-08-08 (8.62 gpt over 2.0 m) suggest that the area west of the diabase dyke (see Figure 2. - Long Section for location of diabase dyke) may host the possible western extension of the Bell Creek veins or a newly developing series of vein structures. Newly completed holes BC-09-47, which returned 2.28 gpt Au over 1.5 m, and BC-09-48, which returned 2.69 gpt Au over 1.5 m, both show the west projection of the West Zone mineralization across the diabase dyke within 100 meters of surface.
The Company will resume drilling at Bell Creek later this month following a three week shut down at the end of December with plans in place to ramp up to four drills on the property.