Lake Shore Intersects 8.57 Grams Gold Per Tonne Over 9.00 Metres at the Thunder Creek Property in Ontario
Lake Shore Gold Corp. (TSX: LSG) (“Lake Shore” or “the Company”) has received additional assay results from the Company’s ongoing diamond drill program on the Thunder Creek property near Timmins, Ontario, including an intersection containing 8.57 grams per tonne gold over 9.00 metres in hole TC07-43.
Lake Shore President and CEO Tony Makuch said: “This new gold intersection at Thunder Creek is located 120 metres down plunge from the 24.61 grams gold per tonne over 7.00 metres intersection previously released in hole TC07-36 and significantly enhances our understanding of this new mineralization and its potential. The width and grade of the zone is very positive and the potential of this discovery continues to be highly prospective. The zone remains open down plunge and is associated with strong alteration and structural deformation. Drilling will continue to further establish the geometry of the new gold zone, and explore additional targets on the property.”
The character of the mineralization in TC07-43 correlates with the previously announced Rusk Zone intersection discovery in holes TC07-30 and TC-07-36. This mineralization is open down plunge and drilling will continue to define the extent of this zone. Other significant intersections include 27.21 grams gold per tonne over 0.90 metres, 8.52 grams gold per tonne over 2.05 metres and 6.33 grams gold per tonne over 2.60 metres. Some of the mineralization intersected in the current drilling may represent new mineralized zones within the wide alteration/structural zone being defined on the Thunder Creek property and will be targeted for further drilling.
The Thunder Creek property represents a significant gold exploration target consisting of 58 claim units immediately adjacent to Lake Shore’s 100%-owned Timmins West property. A positive pre-feasibility study was recently completed on Timmins West (see news release dated August 28, 2007) and an underground exploration program is currently under way.
The new intersections are located approximately 800 metres southwest of the Timmins West shaft currently being developed as part of Lake Shore’s advanced underground exploration program. These intersections represent a new dimension to the Thunder Creek and Timmins West properties andthe potential of this new mineralization could significantly impact Lake Shore’s development plans as the Thunder Creek mineralization may be accessible from the Timmins West shaft with minimum additional capital expenses.
Results for the new holes are presented in the table below. Results from four additional exploration holes (TC08-44, -46 AND -48 TO -50) are pending. Drilling will continue to define the Rusk and Syenite zones and will also target new mineralized intercepts discovered in the current program.
Hole From To Length(a) Gold Zone Status (metres) (metres) (metres) (grams per tonne) ————————————————————————— TC07-34 424.80 431.40 6.60 1.62 Rusk Zone completed including 431.00 431.40 0.40 14.10 ————————————————————————— TC07-35 461.40 468.70 7.30 3.79 Rusk Zone completed including 466.10 468.70 2.60 6.33 ————————————————————————— TC07-37 314.15 314.45 0.30 1.37 Rusk Zone completed ————————————————————————— Hangingwall TC07-38 319.75 321.90 2.15 2.16 Volcanics completed including 321.45 321.90 0.45 5.48 ————————————————————————— Hangingwall TC07-39 271.40 271.70 0.30 4.75 Volcanics completed Hangingwall 302.25 302.65 0.40 1.36 Volcanics ————————————————————————— no significant TC07-40 results Exploration completed ————————————————————————— TC07-41 508.75 509.80 1.05 3.36 Rusk Zone completed 514.90 518.75 3.85 4.72 Rusk Zone including 514.90 516.95 2.05 8.52 601.00 602.00 1.00 1.06 Syenite Zone 609.20 609.70 0.50 1.28 Syenite Zone 615.25 615.70 0.45 2.51 Syenite Zone ————————————————————————— TC07-42 206.65 207.05 0.40 1.14 Exploration completed ————————————————————————— TC07-43 463.30 492.65 29.35 4.08 Rusk Zone completed including 483.65 492.65 9.00 8.57 ————————————————————————— TC07-45 436.70 448.90 12.20 1.24 Rusk Zone completed including 443.90 444.30 0.40 9.65 ————————————————————————— TC08-47 284.50 285.40 0.90 27.51 Rusk Zone completed ————————————————————————— TC03- no significant 06(ext) results Exploration completed ————————————————————————— TC04- no significant 18(ext) results Exploration completed ————————————————————————— TG04- no significant 50(ext) results Exploration completed TC08-44, -46 and -48 to 50 are in progress. (a) Represents measured core intervals as true widths are not known at this time. UM/S equals Ultramafic/Syenite host rocks
Lake Shore has notified its partner on the project, West Timmins Mining Inc., that it has completed the requirements to vest a 60% option interest in Thunder Creek and the project will move forward as a 60/40 pro-rata funded joint venture between Lake Shore and West Timmins.
Quality Control
Lake Shore has a quality control program to ensure best practices in the sampling and analysis of drill core. Assays have been completed using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than three grams per tonne gold, another pulp is taken and fire assayed with a gravimetric finish. Zones with visible gold are tested by pulp metallic analysis. NQ size drill core is saw cut and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is transported in security-sealed bags for preparation at ALS Chemex Prep Lab located in Timmins, Ontario, and the pulps shipped to ALS Chemex Assay Laboratory in Vancouver, B.C. ALS Chemex is an ISO 9001-2000 registered laboratory preparing for ISO 17025 certification.
The Company’s Qualified Person (“QP”) for the Thunder Creek property is Jacques Samson, P.Geo. As QP he has prepared or supervised the preparation of the scientific or technical information contained in this press release.
About Lake Shore
Lake Shore is a mineral exploration company focused on the acquisition, exploration and development of mineral properties with prospects for hosting economic gold deposits in the Canadian Shield in Ontario and Quebec. The Company holds a number of gold properties and has commenced sinking a shaft on its 100%-owned Timmins West gold deposit near Timmins, Ontario. Lake Shore is a reporting issuer in British Columbia, Alberta, Manitoba, Ontario and Quebec, and trades on the Toronto Stock Exchange under the symbol LSG.
Forward-looking Statements
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statements.
Contacts: Lake Shore Gold Corp. Meghan Brown Manager Investor Relations (604) 685-4644 Email: mbrown@lsgold.com Lake Shore Gold Corp. Tony Makuch President and CEO (416) 703-6298 Email: info@lsgold.com Website: www.lsgold.com
SOURCE: Lake Shore Gold Corp.