Jan 22 2013
Lake Shore Gold Corp. today announced the results from 35 holes and two extension holes totalling 27,411 m drilled as part of the Company's 2012 exploration program at its 144 Property, adjacent to the Thunder Creek Deposit at Timmins West Mine.
The 35 holes, and one of the extension holes, were designed to test the southwest extension of the TC-144 alteration zone from Thunder Creek in 3 main areas including the 144 Gap, 144 North and 144 South areas. One extension hole was drilled to test the down plunge extension of a large syenite stock located immediately south of Thunder Creek with strong similarities to the syenite stock at the Thunder Creek Deposit.
Tony Makuch, President and CEO of Lake Shore Gold, commented: "The results from recent drilling at 144 highlight the significant potential to continue to grow and expand the Timmins West Mine operation, including exploring the gap between Thunder Creek and 144 as well as the 144 North and South Zones. Based on the latest results, we have discovered new areas of mineralization in the 144 Gap 850 metres south of Thunder Creek, doubled the depth of known mineralization at 144 North and intersected new mineralization at 144 South. We have also gained important new information regarding controls for the mineralization and identified large syenite stocks at both the 144 North and 144 South areas which are similar to that found at Thunder Creek. The information we are gaining is very valuable and provides encouragement that the large mineralized systems that we are exploring along the six kilometre long TC-144 trend will in time contribute to the continued strong growth in resources at our Timmins West Mine operation."
Drilling in the 144 Gap included five holes and one extension hole (5,456 m) drilled within a 1.6 km strike length along the TC-144 trend between the 144 North Zone and the Thunder Creek Deposit. The most significant intercepts from this drilling include 13.54 gpt over 2.0 m and 6.07 gpt over 3.0 m in Hwy-12-40, which crosses the TC-144 Trend approximately 850 metres south of the Thunder Creek Deposit at an elevation of 700 metres below surface. The new intersection is closely associated with strong hydrothermal alteration and narrow bands of syenite, increased concentrations of quartz and pyrite. Preliminary interpretation suggests that this intersection reflects the top of a new syenite body similar to that found at Thunder Creek and 144 North. This intersection, along with previously released hole TC10-85A with 8.07 gpt over 2.1 m (press release dated July 26, 2011), illustrates the extension of the favourable Thunder Creek structure through the largely unexplored 144 Gap area and with drillhole intersections showing features favourable to host significant mineralization.
Drilling at 144 North included 16 holes (12,514 m) which were designed to extend previously identified zones to depth. Among key intersections, all between 150 - 300 m elevations, were 3.59 gpt over 7.5 m, including 11.84 gpt over 1.5 m and 8.93 gpt over 1.0 m, in Hwy-11-14 and 3.36 gpt over 5.3 m and 6.90 gpt over 1.5 m in HWY-11-17. Additional significant intersections between 350 - 900 m elevations include: 5.10 gpt over 3.0 m, including 10.35 gpt over 1.0 m, and 3.33 gpt over 6.9 m, including 10.18 gpt over 1.7 m, in Hwy-12-43; 1.02 gpt over 51.7 m and 5.14 gpt over 3.0 m in Hwy-11-19; and 1.02 gpt over 27.5 m, including 6.24 gpt over 2.5 m, and 1.00 gpt over 46.0 m, including 2.36 gpt over 10.0 m and also including 11.35 gpt over 1.0 m, in Hwy-11-20.
The intersection in Hwy-12-43 at 900 m elevation is the deepest drilled in this area to date. Based on observations from drill core, mineralization in this area is contained in a series of lenses which occur on the upper and lower contacts of a large syenite stock. The overall plunge of the stock appears to vary between 60 to 65 degrees NE towards Thunder Creek. As with mineralization at Thunder Creek, the better zones of mineralization are often closely associated with strong hematite alteration and increased pyrite and quartz vein content.
Drilling at 144 South includes 14 holes (8,900 m) covering an 1,000 m strike length along the projected TC-144 trend to a maximum vertical depth of 550 m. Significant intersects include: 12.60 gpt over 1.3 m and 1.30 gpt over 57.7 m, including 4.06 gpt over 7.6 m, in Hwy-11-28; 202.00 gpt over 0.30 m in Hwy-11-30; 2.01 gpt over 41.7 m, including 14.76 gpt over 3.0 m and 3.82 gpt over 5.6 m, in Hwy-12-45; and 5.69 gpt over 4.7 m in Hwy-12-42. Most of the significant assay values obtained to date are located in the northeast portion of a 600 m long hydrothermal alteration zone where, like 144 North, it has been intruded by a syenite stock. The best mineralization identified to date is between 300 and 450 m below surface and is closely associated with the northeast tip of the stock. The projected plunge of the stock is steep to the northeast and remains untested to depth.
Three holes (HWY-12-34 to 36) were drilled as step-outs along strike of the above intercepts to test for shallow mineralization up to 500 m to the southwest. All holes intersected zones of strong hydrothermal alteration and bleaching up to 200 m thick.
In addition to the above, a short extension hole was also drilled to test the depth potential of a large syenite stock located approximately 500 m south of Thunder Creek. The stock is considered to have strong similarities to rocks hosting the Thunder Creek Deposit but has had limited exploration to date. Results of the recent program showed strongly anomalous gold assays near both the upper and lower contacts of the stock which are considered very positive for future potential.
The most recent drill program at 144 was completed late in 2012. The main focus of future drilling will be to test the projected down plunge extensions of newly identified mineralization at the 144 Gap and South areas.