Being informed...on Timmins West developments. Lakeshore announced assay results on Gold River Trend last week...(see below), their 4th mine in the making which will warrant a mill in West end (imo).
LAKE SHORE GOLD DEMONSTRATES NEAR SURFACE RESOURCE POTENTIAL AND EXTENDS MINERALIZATION TO MINIMUM 750 METRE DEPTH AT GOLD RIVER TREND
Lake Shore Gold Corp. has encountered a number of wide, high-grade intercepts from an additional 42 holes (15,159 metres) completed as part of the 2010 drill program at the company's 100-per-cent-owned Thorne property along the Gold River trend. The program is focused on the Gold River East zone, which occupies a 1.5-kilometre strike length of the Gold River trend. The intersections reported today both confirm the potential for shallow high-grade resources amenable to open-pit and/or shallow underground mining and extend the mineralized zones at Gold River East to a minimum 750-metre vertical depth. The Gold River trend is a major alteration and deformation structure, located approximately three kilometres south of the company's Thunder Creek deposit with a minimum strike length of approximately 3.5 kilometres. Current National Instrument 43-101-compliant inferred resources for the Gold River trend include 4,154,096 tonnes grading 3.33 grams per tonne (g/t) for a total of 444,471 ounces.
Highlights
- Wide, high-grade intercepts reported near surface in west portion of Gold River East, potential for multiple zones confirmed;
- 5.04 g/t over 16.60 metres intersected 35 metres below surface within broader envelope grading 2.18 g/t over 45.00 metres. Among other intercepts are 11.78 g/t over 1.70 metres, 6.64 g/t over 2.3 metres, 11.85 g/t over 2.50 metres, 7.05 g/t over 2.10 metres, 21.80 g/t over 0.50 metre, 14.90 g/t over 0.50 metre and 5.02 g/t over 1.40 metres;
- Drilling on east portion of Gold River East intersects shallow, high-grade mineralization, potential for further expansion on strike and to depth considered excellent;
- 5.09 g/t over 10.20 metres intersected at 165-metre elevation, including 7.64 g/t over 6.40 metres, 7.19 g/t over 2.00 metres and 19.85 g/t over 0.40 metre, with visible gold (VG). Among other intercepts are 8.92 g/t over 3.30 metres, 44.42 g/t over 1.70 metres, 5.89 g/t over 9.70 metres, including 10.48 g/t over 3.40 metres, 20.73 g/t over 1.50 metres, 15.90 g/t over 0.55 metre and 15.35 g/t over 0.50 metre;
- Drilling to depth extends zones to minimum vertical depth of 750 metres from surface;
- Among key intercepts are 8.74 g/t over 5.90 metres, including 25.23 g/t over 1.80 metres, 5.36 g/t over 10.40 metres, including 9.06 g/t over 3.00 metres and 9.31 g/t over 2.40 metres, and 26.90 g/t over 2.00 metres;
- Revised interpretation and mineralization model based on current drilling suggests substantial near-surface exploration potential along Gold River trend, largely in shallow underground and/or open-pit zones.
Tony Makuch, president and chief executive officer of Lake Shore Gold, commented: "Today's results strongly demonstrate the potential for the Gold River trend to host substantial new resources in shallow underground and/or open-pit zones. The Gold River trend property, when combined with our adjacent 144 property, covers an area totalling 49 square kilometres in close proximity to our Timmins mine and Thunder Creek deposits. These two properties are highly prospective land positions with 'game changing' potential for our mining and development plans within the Timmins West complex. We look forward to starting on the next phase of drilling at Gold River East in mid-January to evaluate additional extensions to the zones as well to start infill drilling of the mineralized envelope in preparation for an updated National Instrument 43-101 resource over the next 12 months."
Significant results announced today include 18 holes (4,771 metres) from the West portion of the Gold River East zone which were designed to test areas between and along strike of the Fold Nose and Kapika zones. TH-10-62 was collared near the west edge of the Kapika zone and intersected 5.04 g/t over 16.60 metres within a broad envelope grading 2.18 g/t over 45.00 metres. TH-10-048 was drilled 140 metres to the east of TH-10-62 and immediately west of the Fold Nose resource and intersected 11.78 g/t over 1.70 metres and 6.64 g/t over 2.30 metres. TH-10-42 was collared 220 metres east of TH-10-62 and intersected 11.85 g/t over 2.50 metres and 7.05 g/t over 2.10 metres, and TH-10-35 was collared 40 metres west of TH-10-42 and intersected 21.80 g/t over 0.50 metre, 14.90 g/t over 0.50 metre and 5.02 g/t over 1.40 metres. As all areas tested are still open to depth and along strike, the potential for further expansion is considered excellent.
Also included are 24 holes (10,388 metres) which tested the east portion of the Gold River trend near the 4800 and North porphyry zones along strike and to depth of previously reported drill results and historic resource blocks. Portions of the drilling were designed to test at shallow depths to confirm historic drill intercepts and along direct extensions of the current National Instrument 43-101-compliant resource for this area. Other portions of the drilling were widely spaced step-out holes to depth to gain a broader perspective of geological structure.
Among significant results from the drilling at shallow depths are 5.09 g/t over 10.20 metres, including 7.64 g/t over 6.40 metres and 7.19 g/t over 2.00 metres in TH-10-52, 8.92 g/t over 3.30 metres in TH-10-57, 44.42 g/t over 1.70 metres in TH-10-30, 5.89 g/t over 9.70 metres, including 10.48 g/t over 3.40 metres, in TH-10-47 and 20.73 g/t over 1.50 metres, 15.90 g/t over 0.55 metre and 15.35 g/t over 0.50 metre in TH-10-41. The results from these holes, together with other previously released results, are important as they strongly confirm the presence of multiple higher-grade zones at shallow depths extending over the entire strike length between the North porphyry and 4800 resource blocks.
Significant results from the deep step-out holes are 8.74 g/t over 5.90 metres, including 25.23 g/t over 1.80 metres in TH-10-26B, 5.36 g/t over 10.40 metres, including 9.06 g/t over 3.00 metres and 9.31 g/t over 2.40 metres, in TH-10-65, 26.90 g/t over 2.00 metres in TH-10-53 and 5.93 g/t over 2.00 metres in TH-10-26C. These holes were drilled into the area underlying the North porphyry and 4800 zones and strongly confirm the extension of key mineralized structures in the Gold River East area to a minimum depth of 750 metres from surface. TH-10-26B and TH-10-26C were drilled as wedge cuts from previously released TH-10-26, which intersected 13.06 g/t over 8.50 metres (see press release in Stockwatch news dated June 23, 2010). TH-10-65 intersected mineralization 40 metres to the east of TH-10-26, and TH-10-53 intersected the structures 205 metres to the east of TH-10-26.
Based on the new dill results, a revised mineralization model has been constructed for the Gold River trend which extends to a vertical depth of 750 metres below surface. The model demonstrates that substantial near-surface resource potential exists along the Gold River trend, particularly at Gold River East in zones amenable to open-pit and/or shallow underground mining methods.
The 2010 drill program was completed midway through December, 2010, and is set to recommence in the second week of January. The program for 2011 will comprise approximately 20,000 metres of drilling and focus on infill and expansion drilling of the Gold River East area with a view to completing a new National Instrument 43-101 resource for the property within the next 12 months.