Welcome!

News Feed Item

Lake Shore Gold Identifies New, High-Grade Structures Near Current Mining at Bell Creek Labine Deposit

TORONTO, ONTARIO -- (Marketwired) -- 03/26/14 --


--  New, high-grade intersections reported in previously untested gap in
    Labine Deposit North A Zone and in two new hanging wall structures east
    of current mining (14.12 gram per tonne ("gpt") over 10.2 metres ("m"),
    8.41 gpt over 12.0 m and 7.01 gpt over 10.7 m) 
    
--  Additional new high-grade structure, and intercepts in North A Zone,
    defined near active mining from drilling on 685 Level, intercepts
    include 11.42 gpt over 3.6 m, 8.47 gpt over 4.6 m, 7.76 gpt over 8.7 m,
    5.96 gpt over 6.5 m and 6.38 gpt over 6.0 m 
    
--  Revised resource model for Labine Deposit suggests potential for
    significantly higher grades within slightly narrower structures below
    685 Level 
    
--  Additional drilling to confirm and expand zones below 685 Level in
    progress 

Lake Shore Gold Corp. (TSX:LSG)(NYSE MKT:LSG) ("Lake Shore Gold" or the "Company") today announced the results from 16 new holes (3,718 metres) from drilling at the Bell Creek Mine in the area now called the Labine Deposit, representing all of the mine's currently known zones. The new holes were drilled as part of a program designed to confirm and expand resources below the 685 Level. The program includes approximately 2,593 metres from the 2014 operating and capital budgets of 9,850 metres as well as 1,125 metres from a new 3,750 metre exploration budget announced in January 2014.

Key intersections being reported include 14.12 gpt over 10.2 m in BC610-865, 8.41 gpt over 12.0 m in BC610-911, 7.01 gpt over 10.7 m in BC610-863A and 6.02 gpt over 7.6 m in BC610-872. The drilling, completed from the 610 Level, was concentrated in an untested gap near the east limit of the current resource (Table 1 and Figures 1 and 2). The holes identify new high-grade intercepts within the North A Zone and also define two new hanging wall structures 100 metres to the east of current mining (HW6 and HW7). The new structures identified in the program appear to follow a similar southwest trend as other hanging wall structures being mined further to the west, but with thicker widths and better grades.

Additional results being announced include 11.42 gpt over 3.6 m in BC685-901, 8.47 gpt over 4.6 m in BC685-901, 7.76 gpt over 8.7 m in BC685-860A, 5.96 gpt over 6.5 m in BC685-861 and 6.38 gpt over 6.0 m in BC-685-902. These holes were drilled on the 685 Level in close proximity to active mining. The holes are considered important as they include new high-grade intercepts in the North A Zone and define a third new hanging wall structure from the current drilling that provides additional support for a revised deposit model the company is developing for the mine.

The revised deposit model is based on multiple southwest trending veins branching from the North A Zone rather than previous models which were based mainly on east-west trending zones. The revised model assumes somewhat narrower mining widths but with significantly higher grades for certain zones. By combining the results of previous drilling with the new holes being announced today, the Company has to date identified at least 7 new hanging wall structures, as well as several examples of intercepts from previously drilled holes crossing these new structures where widths could be reduced slightly to increase grades.

Tony Makuch, President and CEO of Lake Shore Gold, commented: "These early results from our 2014 drill program are very encouraging. They include high-grade intercepts in an untested gap in the Labine Deposit and have identified a number of new, high-grade structures near current mining. The results indicate that considerable potential exists to add ounces at Bell Creek, particularly on the hanging wall, as well as to significantly increase average grades in some areas at somewhat narrower widths. We have been very pleased with our operations at Bell Creek, where our average reserve grade was recently increased to 4.7 gpt and where production this year is on track to increase by more than 25%. We have one drill turning presently, which is continuing to test for new zones below the 685 Level, and are in the process of deploying a second drill for the same purpose."

Quality Control

The Qualified Person ("QP") for Lake Shore Gold's drill program at the Bell Creek Mine is Eric Kallio, P.Geo. who, as a QP, has prepared or supervised the preparation of the scientific or technical information for the property and verified the data disclosed in this press release. Mr. Kallio is an employee of Lake Shore Gold.

Lake Shore Gold has a quality control program to ensure best practices in the sampling and analysis of drill core. Normal practice for all programs has been to insert three Quality Control samples including one blank, one certified standard and one reject duplicate at a frequency of every forty drill core samples submitted. The blanks and the certified standards are checked to be within acceptable limits prior to being accepted into the GEMS SQL database. Routine assays have been completed using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than ten grams per tonne gold, the remaining pulp is taken and fire assayed with a gravimetric finish.

Underground drilling at the Bell Creek Mine utilizes two different core sizes including; LTK-48 with a core diameter of 35.3mm (Bazooka drill) and BQ which has a core diameter of 36.4mm (electric drills). Sampling of drill core is conducted in intervals according to geological control (minimum 30cm, maximum 1.5m, averaging 1.0m) with all core being whole core sampled and pulps being stored in cold storage. For select drill holes, core is saw cut, the remaining half is stored in a secure location.

Gold analysis for underground drill core at Bell Creek has utilized three analytical laboratories. All underground drill core is analyzed at either ALS Canada Ltd. (2090 Riverside Drive, Timmins and 2103 Dollarton Hwy, North Vancouver), Activation Lab (1752 Riverside Drive, Timmins) or Lake Shore Gold Corp.'s Bell Creek Complex mill laboratory. ALS Canada Ltd. is ISO 9001:2008 and ISO 17025 certified. Activation Laboratories Ltd. in Timmins is ISO 9001 certified and follows their fully certified main Ancaster, Ontario lab analytical procedures (working towards ISO 17025 CANP4E in early 2014). Lake Shore Gold Corp's Bell Creek mill laboratory is not ISO certified.

About Lake Shore Gold

Lake Shore Gold is a gold mining company that is in production and is generating net free cash flow from its wholly owned operations in the Timmins Gold Camp. The Company is in production at both the Timmins West and Bell Creek mines, with material being delivered for processing to the Bell Creek Mill. In addition to current operations, the Company also has a number of highly prospective projects and exploration targets, all located in and around the Timmins Camp. The Company's common shares trade on the TSX and NYSE MKT under the symbol LSG.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release relating to the Company's expected production levels, production growth, exploration activities, potential for increasing resources, project expenditures and business plans are "forward-looking statements" or "forward-looking information" within the meaning of certain securities laws, including under the provisions of Canadian provincial securities laws and under the United States Private Securities Litigation Reform Act of 1995 and are referred to herein as "forward-looking statements." The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts, labour disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties will be consistent with models and will not be less than identified mineral reserves. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, delays in development or mining and fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in the Company's most recent Annual Information Form and other regulatory filings with the Canadian Securities Administrators, which are posted on sedar at www.sedar.com, or the Company's most recent Annual Report on Form 40-F and other regulatory filings with the Securities and Exchange Commission.


Table 1. New Drilling from 610 Level                                        
----------------------------------------------------------------------------
                                                     Zone  Au Comp          
HOLE-ID          Section     From (m)  To (m)   Width (m)    (gpt)      Zone
----------------------------------------------------------------------------
BC610-863A       5950           143.0   145.2         2.2     3.40       NA2
----------------------------------------------------------------------------
                                167.3   178.0        10.7     7.01       HW6
----------------------------------------------------------------------------
                 inc            167.3   174.0         6.7     9.10          
----------------------------------------------------------------------------
                                201.0   203.2         2.2     3.65        NA
----------------------------------------------------------------------------
BC610-864        5950           154.4   160.0         5.6     4.64       NA2
----------------------------------------------------------------------------
                                180.1   182.7         2.6     2.65       HW6
----------------------------------------------------------------------------
                                213.8   216.0         2.2     5.05        NA
----------------------------------------------------------------------------
BC610-865        5950           174.7   177.0         2.3     4.28       NA2
----------------------------------------------------------------------------
                                190.7   200.9        10.2    14.12       HW6
----------------------------------------------------------------------------
                                230.6   238.9         8.3     5.29       HW8
----------------------------------------------------------------------------
                 inc            230.6   233.0         2.4    10.04          
----------------------------------------------------------------------------
                 inc            236.0   238.9         2.9     4.55          
----------------------------------------------------------------------------
                                257.6   259.6         2.0     2.94       NB2
----------------------------------------------------------------------------
BC610-866        5950           126.2   128.3         2.1     5.39    NA2 HW
----------------------------------------------------------------------------
                                139.2   141.9         2.7     8.00       NA2
----------------------------------------------------------------------------
                                170.5   173.0         2.5     5.08       HW6
----------------------------------------------------------------------------
                                193.7   196.0         2.3     4.07        NA
----------------------------------------------------------------------------
BC610-867        5950           130.0   134.7         4.7     2.47       NA2
----------------------------------------------------------------------------
                                166.1   168.3         2.2     0.36       HW6
----------------------------------------------------------------------------
                                197.1   199.3         2.2     1.15        NA
----------------------------------------------------------------------------
                                219.0   221.4         2.4     3.66       NB2
----------------------------------------------------------------------------
BC610-871        5950           200.0   203.4         3.4     4.95       NA2
----------------------------------------------------------------------------
                                277.3   279.3         2.0     3.26        NA
----------------------------------------------------------------------------
                                353.3   355.6         2.3     6.11        NB
----------------------------------------------------------------------------
BC610-872        5950           185.0   192.6         7.6     6.02       HW6
----------------------------------------------------------------------------
                 inc            185.0   187.9         2.9    10.95          
----------------------------------------------------------------------------
                                255.8   258.9         3.1     3.39        NA
----------------------------------------------------------------------------
                                286.9   290.4         3.5     5.08       NB2
----------------------------------------------------------------------------
BC610-911        5950           210.3   212.3         2.0     1.91       NA2
----------------------------------------------------------------------------
                                243.6   255.6        12.0     8.41       HW7
----------------------------------------------------------------------------
                 inc            243.6   251.0         7.4     9.38          
----------------------------------------------------------------------------
                 inc            253.6   255.6         2.0    13.02          
----------------------------------------------------------------------------
                                286.0   288.0         2.0     1.07        NA
----------------------------------------------------------------------------
                                                                            
Table 2. New Drilling from 685 Level                                        
----------------------------------------------------------------------------
                                                     Zone   Au Comp         
HOLE-ID         Section     From (m)   To (m)   Width (m)     (gpt)     Zone
----------------------------------------------------------------------------
BC685-860A                      73.3     75.3         2.0      3.97      HW5
----------------------------------------------------------------------------
                                82.4     84.5         2.1      3.51      NW4
----------------------------------------------------------------------------
                               126.2    134.9         8.7      7.76       NA
----------------------------------------------------------------------------
BC685-861                       87.5     90.0         2.5      4.18      HW4
----------------------------------------------------------------------------
                               129.7    136.2         6.5      5.96       NA
----------------------------------------------------------------------------
                inc            132.8    136.2         3.4      8.93         
----------------------------------------------------------------------------
                               155.4    160.7         5.3      2.75      NB2
----------------------------------------------------------------------------
                inc            155.4    157.6         2.2      3.63         
----------------------------------------------------------------------------
BC685-901       5862             0.0      3.6         3.6     11.42       NA
----------------------------------------------------------------------------
                                 7.7     10.1         2.4     11.11      HW2
----------------------------------------------------------------------------
                                13.0     17.6         4.6      8.47      HW3
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BC685-902       5850             0.0      6.0         6.0      6.38       NA
----------------------------------------------------------------------------
                                 7.7     10.2         2.5      0.36      HW2
----------------------------------------------------------------------------
                                23.4     25.6         2.2      5.07      HW3
----------------------------------------------------------------------------
                                34.8     38.0         3.2      3.05      HW4
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
BC685-903       5837            11.5     13.8         2.3      7.23      HW2
----------------------------------------------------------------------------
                                25.0     27.0         2.0      4.37      HW3
----------------------------------------------------------------------------
                                34.6     36.6         2.0      1.95      HW4
----------------------------------------------------------------------------
                                39.0     41.2         2.2      1.39      HW5
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Notes:  1. Zones in BC685-904 and BC905 cut off by faulting and BC685-862   
        only low grades.                                                    
        2. Assays are uncut and true widths are not reported.               
        3. Intersections in BC685-901 and BC685-902 are partial intercepts  
        (holes were drilled from new development in North A Zone).          

To view 'Figure 1: Geology Map', please visit the following link: http://media3.marketwire.com/docs/lakefig10325.pdf

To view 'Figure 2: Cross Section (5950E)', please visit the following link: http://media3.marketwire.com/docs/lakefig20325.pdf

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, shared the functions and data structures used to solve everyday use cases that are driving Redis' popularity.