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Lake Shore Gold Corp
Symbol LSG
Shares Issued 213,423,504
Close 2009-08-24 C$ 3.21
Recent Sedar Documents
Lake Shore drills 80.30 m of 3.73 g/t Au at Thunder
2009-08-25 09:12 ET - News Release
Mr. Tony Makuch reports
LAKE SHORE GOLD CONTINUES TO ESTABLISH LARGE GOLD SYSTEM AT THUNDER CREEK, PORPHYRY STRUCTURE EXTENDED TO AT LEAST 1,125 METRE DEPTH
Lake Shore Gold Corp. has released results for three new holes, TC09-68c, TC09-68d and TC09-73 (2,447 metres), as part of its continuing 22,000-metre diamond drill program at the Thunder Creek joint venture property, located immediately adjacent to Lake Shore Gold's 100-per-cent-owned Timmins mine project. The company holds a 60-per-cent interest in the Thunder Creek property, and is the operator of the joint venture with West Timmins Mining Inc.
TC09-68c was designed to test the Rusk and Porphyry zones approximately 55 metres up dip from previously released hole TC09-68b (which included 12.75 grams per tonne over 83.40 metres). TC09-68c intersected multiple zones of mineralization, including 21.86 g/t over 1.70 m, 9.13 g/t over 0.70 m and 3.17 g/t over 15.70 m, including 23.20 g/t over 0.50 m from the Rusk zone and 4.17 g/t over 13.35 m from the Porphyry zone.
TC09-68d was wedged from TC09-68c and further extended the zones of mineralization by another 35 to 40 m above TC09-68c. Best intercepts in TC09-68d include 4.85 g/t over 15.70 m from the Rusk zone, and 12.17 g/t over 9.00 m in the Porphyry zone. The intercepts from the Rusk zone display strong iron-carbonate alteration within a sheared contact zone including ultramafic, sedimentary and volcanic rocks, accompanied by quartz-carbonate veining, felsic dikelets and locally strong pyrite dissemination. Mineralization in the Porphyry zone is characterized by local quartz veining, accompanied by minor sphalerite, galena, molybdenite, scheelite and pyrite. Fine visible gold specks are commonly observed at several locations within the intrusive. When the Rusk and Porphyry zones are combined as one mineralized interval, the composite grade intersected is 2.34 g/t over 100.25 m in hole TC09-68c and 3.73 g/t over 80.30 m in hole TC09-68d. When compared with previously released hole TC09-68b, the widths are similar but the grades lower. The lower grades are attributable to natural variability of gold content within the overall system which is typical of high-grade coarse gold deposits. Along with previously released holes TC08-54 (5.90 g/t over 26.35 m) and TC09-68 (2.87 g/t over 71.75 m), these intersections define a thick mineralization envelope over a minimum 250-metre vertical height incorporating the entire porphyry and portions of the Rusk zone. This adds a prospective new target with bulk and/or high-grade potential for the project.
TC09-73 was a major step-out hole designed to explore for the Rusk and Porphyry zones approximately 245 metres down dip from hole TC09-68 and is the deepest hole drilled at the property to date. However, due to technical problems the hole had to be abandoned before crossing through the entire porphyry unit. Before being abandoned, TC09-73 intersected the Rusk zone and the north side of the gold-bearing porphyry unit. Where intersected, the porphyry displayed local silicification, hematization and sporadic quartz veining containing base metals, molybdenite and scheelite, which are characteristic of previously reported high-grade zones from within the porphyry. The porphyry also contained a generally elevated level of gold with the best intercepts ranging from 2.51 g/t to 2.89 g/t over 0.50-metre widths.
Tony Makuch, president and chief executive officer of Lake Shore Gold, commented: "The results continue to expand the mineralized structures at Thunder Creek and suggest the presence of a large-scale gold system on the property which is closely linked to a major porphyry body. The porphyry system remains open in both directions and to depth. We took a major step-out with hole TC09-73, drilling 245 metres (approximately 800 feet) down dip from our previous deepest hole and, as a result, successfully extended the mineralized porphyry unit to a vertical depth of 1,125 metres and confirmed that several good indicators for higher-grade mineralization found in holes above were still present at this depth. As such, the potential for high-grade zones to this depth and even further is considered excellent and the company plans to pursue this opportunity aggressively with our future drilling. We have four additional holes completed with results pending and currently have three drills working on the property."
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