Some pretty good LSG news out this morning....I added some last week....just call me the lucky bozo....
Lake Shore Gold Corp
Symbol LSG
Shares Issued 213,423,504
Close 2009-08-21 C$ 3.35
Recent Sedar Documents
Lake Shore drills 19.7 m of 12.87 g/t Au at Timmins
2009-08-24 06:42 ET - News Release
Mr. Tony Makuch reports
LAKE SHORE GOLD REPORTS HIGH-GRADE INTERCEPTS FROM UNDERGROUND DRILLING AT TIMMINS MINE
Lake Shore Gold Corp. today released encouraging results from four underground holes (906.5 metres) from the 525-metre and 650-metre levels of the company's 100-per-cent-owned Timmins mine property. All holes were drilled in a northerly direction and designed to delineate the ultramafic and footwall zones between these two elevations, which to this point had been outlined by wider-spaced surface holes. All four holes intersected zones of mineralization consistent in grade and width with intersections from previous surface drilling. In addition, hole 650-012 and hole 525-006 intersected high-grade mineralization in areas outside the existing resource and 650-001 and 650-002 intersected mineralization on the edge of existing resource blocks for the footwall zone, demonstrating the potential to add new resources on the property.
At the present time, 24 holes and 3,804 metres of diamond drilling have been completed on the 525-metre level and 17 holes and 3,399 metres of diamond drilling have been completed on the 650-metre level. Hole 650-002, hole 650-012 and hole 650-001 were drilled cross-sectional to the ultramafic zone to delineate the zone at 15 to 20 metres centres. Hole 650-002 intersected 12.87 grams per tonne (g/t) over 19.70 metres, including 36.27 g/t over 3.3 metres. Hole 650-012 intersected 11.23 g/t over nine metres, including 21.13 g/t over two metres and 6.71 g/t over one metre. Hole 650-001 intersected 5.81 g/t over 6.35 metres, including 8.49 g/t over 2.6 metres.
Tony Makuch, president and chief executive officer of Lake Shore Gold, commented: "These results from our first underground drilling program to test the ultramafic zone at Timmins mine are very encouraging and confirm the grades and widths established from previous surface drill programs, but at much closer-spaced intervals. In addition, holes 650-012 and 525-006 were particularly exciting, as they both intersected high-grade mineralization outside of the known resource and extend the vertical height of the ultramafic zone in this cross-section to a minimum of 150 metres. Drilling from both the 525- and 650-metre levels is continuing and will include pursuing a number of highly prospective targets off of the 525- and 650-metre levels that to date have been largely unexplored including the continuation of the ultramafic rock unit hosting the ultramafic zone as it extends to the east and southeast of the mine. The company's development from the shaft on the 650-metre level is also advancing very well and we are about to cross-cut the ultramafic zone, with bulk sampling set to commence over the next several days. The area around the 650-metre level in the ultramafic zone is expected to be an important source of feed for the company's 100-per-cent-owned Bell Creek mill for at least the next year.
"In addition to our underground drilling at Timmins, we also have three surface drills working at the property to explore the property at depth where previous drill spacing becomes even wider and the main geologic structures hosting mineralization continue. Given this and values such as 9.54 g/t over 4.5 metres and 22.75 g/t over 3.50 metres in hole TG06-96c, which was one of the deepest holes drilled on the property, the potential to add new resources at the mine is considered excellent."
Mineralization in the ultramafic and footwall zones occurs as a series of lenses surrounding a steep westerly plunging fold nose formed at the contact between mafic and ultramafic rocks. Closely associated with the mineralization is quartz veining, abundant pyrite, strong alteration and local visible gold besides confirming grades obtained by previous surface drilling, mineralized intercepts in this recently completed underground diamond drilling correlate well with the predicted locations of the zones as interpreted from the original more widely spaced surface drill holes.
In addition to intercepts within the ultramafic zone, the recent drilling has intersected mineralization in the main footwall zone, as well as additional intersections in multiple vein zones collectively known as the footwall zones. Some of these intersections include hole 650-001 with 5.3 g/t over 1.4 metres, 4.13 g/t over 1.4 metres and 5.81 g/t over 1.1 metres, hole 650-002 with 5.38 g/t over 9.6 metres, including 19.74 g/t over 1.4 metres and 8.05 g/t over 1.1 metres. Results from the Footwall zone in 650-012 remain pending.
Quality control
The company's qualified person for the underground drill program at the Timmins mine property is Heather Miree, PGeo. As qualified person, she has prepared or supervised the preparation of the scientific or technical information for the property and has verified the data disclosed in this press release.
Lake Shore Gold has implemented a quality-control program to ensure best practice in the sampling and analysis of the drill core. Samples are obtained from BQTK-sized diamond drill core, sawn in half, with one-half being retained in a secure location and the other half submitted for sample preparation and gold analysis by ALS Chemex. ALS Chemex is an ISO-9001-200-registered laboratory, preparing for ISO 17025 certification. Drill core samples are transported in security-sealed bags to ALS Chemex's Timmins sample preparation facility. Sample preparation is completed in Timmins, and the prepared sample pulps are then transported to ALS Chemex's analytical laboratory in Vancouver, B.C. Gold grades are obtained on all samples via fire assay with atomic absorption finish, using 50-gram aliquots. For samples that return a gold content greater than three g/t, the sample is reanalyzed via fire assay with gravimetric finish, again using a 50-gram aliquot.
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