Lake Shore Gold Identifies Thick, High-Grade Core of Gold Mineralization at 144 Gap Zone7 hours ago by Marketwire -- High-grade core identified over 250 metre vertical height, 75 - 100 metre width and 50 - 75 metre strike length, remains open for expansion (Key intercepts: 5.36 gpt/47.0 m, including 9.70 gpt/18.40 m, 4.09 gpt/56.9 m, including 13.94 gpt/5.4 m, 4.55 gpt/39.6 m, 7.09 gpt/19.9 m, 5.11 gpt/19.4 m and 4.42 gpt/21.1 m) -- Drilling near northeast limit of 144 Gap Zone confirms and expands gold mineralization (Key intercepts: 5.72 gpt/10.5 m, 32.47 gpt/3.5 m, 10.61 gpt/5.3 m, 78.44 gpt/1.9 m, 5.26 gpt/ 10.3 m, 5.61 gpt/4.9 m, 3.80 gpt/20.1 m and 4.36 gpt/11.5 m) -- Drilling continuing with 6 surface rigs, underground exploration drift in progress -- Approximately 120,000 metres of surface and underground drilling planned in 2015.
Lake Shore Gold Corp. (TSX: LSG)(NYSE MKT: LSG) ("Lake Shore Gold" or the "Company") today announced results from an additional 10 drill holes and one wedge hole (11,092 metres) at the Company's 144 Exploration Area ("144"). 144 is located immediately southwest of the Timmins West Mine Thunder Creek Deposit and covers about 4.0 kilometres of the same volcanic/ultramafic, intrusive/sedimentary contact (the "TC-144 Trend") that hosts both Thunder Creek and Timmins Deposit. The current drill program, launched in August, is largely focused on the area immediately adjacent to Thunder Creek (the "144 Gap"), where a new discovery was announced in October 2014.
Tony Makuch, President and CEO of Lake Shore Gold, commented: "Today's results confirm the presence of a significant area of thick, high-grade gold mineralization within the 144 Gap Zone. This high-grade core is open for continued expansion along strike, to the west and towards surface with additional drilling and has excellent potential for conversion to resources. The additional information provided from today's results further supports our view that the 144 Gap Zone is a very special area of mineralization and provides valuable information that is helping us to position our underground drill platform into the area. With six drills working on surface, our exploration drift advancing towards completion during the third quarter, and underground drilling expected to commence by mid-year, we are working towards establishing an initial resource at the 144 Gap Zone for the end of 2015."
Two holes and one wedge hole (Hwy-15-78, 84 and 74W1) tested near the current western limit of the 144 Gap Zone and 50 metres ("m") west of previously announced Hwy-14-48 (see press release dated October 21, 2014). These drill holes, in combination with at least five previously released holes, confirm a broad high-grade core to the mineralization between 725 and 975 m below surface and in close proximity to the planned elevation for the new exploration drift. The high-grade core is defined by multiple broad intersections within each hole grading between 4.0 and 7.0 grams per tonne ("gpt") and has current dimensions of 250 m in vertical height, 75 to 100 m in width and 50 to 75 m along strike. The high-grade core remains open for expansion along strike, to the west and towards surface. Significant new results include 4.09 gpt over 56.9 m, including 13.94 gpt over 5.4 m, and 4.42 gpt over 21.1 m, including 9.18 gpt over 4.1 m from Hwy-15-78 (similar elevation as Hwy-14-48).
Among additional results from drilling near the western limit of the 144 Gap Zone were 5.11 gpt over 19.4 m, including 36.44 gpt over 1.7 m, 3.03 gpt over 22.5 m and 5.36 gpt over 47.0 m, including 9.70 gpt over 18.40 m from Hwy-15-74W1. This hole tested the area approximately 50 m below Hwy-15-78. Hwy-15-84 tested the area 75 m above Hwy-15-78 and returned 4.55 gpt over 39.6 m, including 194 gpt over 0.3 m, 14.56 gpt over 2.0 m, 3.79 gpt over 11.8 m and 7.09 gpt over 19.9 m, including 62.0 gpt over 1.4 m.
Hwy-15-80 was located 50 m east and 75 m above previously released Hwy-14-48 and intersected 5.61 gpt over 3.1 m.
Three holes (Hwy-15-76, 79 and 83) tested near the current northeast limit of the 144 Gap Zone and close to recently reported Hwy-14-63 and Hwy-14-70 (see press release January 27, 2015). Among significant results were 5.72 gpt over 10.5 m, including 13.19 gpt over 3.9 m and 32.47 gpt over 3.5 m, including 112.25 gpt over 1.0 m in Hwy-15-76. This hole was drilled 50 m above Hwy-14-70. Hwy-15-79 tested 50 m to the west and at the same elevation as Hwy-14-70 and intersected 10.61 gpt over 5.30 m, including 33.45 gpt over 1.6 m, 3.80 gpt over 20.1 m and 4.36 gpt over 11.50 m. Hwy-15-83 tested 50 m below Hwy-15-79 and included results of 78.44 gpt over 1.9 m, including 292.00 gpt over 0.5 m, 3.86 gpt over 6.2 m, including 41.3 gpt over 0.3 m, 5.61 gpt over 4.9 m and 5.26 gpt over 10.3 m.
The remaining three holes and one wedge cut were drilled mainly as widely spaced steps along strike or above the 350 m long zone defined to date. Hwy-15-77 was drilled approximately 200 m west of Hwy-14-48 and Hwy-15-81 was drilled 50 metres to the east of Hwy-14-70. Both holes intersected favorable structure but lower grade assay values. Hwy-15-80a and Hwy-15-82 were stopped prior to reaching target depths due to drilling difficulties.
Recent interpretations continue to suggest that the mineralization at 144 Gap is contained within a broad zone of hydrothermal alteration and deformation measuring up to 100 m wide and closely associated with syenite intrusions, quartz veining, pyrite, scheelite and/or galena and multiple occurrences of visible gold. The new results identify the 144 Gap Zone over minimum dimensions of 350 m along strike and 350 m down dip with mineralization contained in a combination of wide bulk and narrow high-grade structures.