Mar 27 2014
Lake Shore Gold Corp. 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."
Source: Lake Shore Gold Corp.