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www.marketwire.com/mw/...e.do?id=766908&sourceType=3
Sep 05, 2007 17:00 ET
Lake Shore Reports Additional High-Grade Gold Intersection at Thunder Creek, Ontario VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore" or "the Company") has intersected additional new high-grade gold mineralization in hole TC07-30 on the Thunder Creek property near Timmins, Ontario. The Thunder Creek property and new gold zone are immediately adjacent to Lake Shore's 100%-owned Timmins West property, where a positive pre-feasibility study was recently completed (see news release dated August 28, 2007). The character of the mineralization in the new gold zone is similar to the Ultramafic zone that hosts the majority of the gold mineralization at Timmins West and opens up a whole new target for expansion of the Company's Timmins West resource base. As reported on August 1, 2007, drilling at Thunder Creek intersected three zones of high-grade gold mineralization in hole TC07-30. A fourth mineralized zone has now been discovered in the same hole. This zone, identified as the Lower Rusk zone, was not initially recognized as being gold bearing based on visual logging. Upon review it was sampled, and assay results have now confirmed a grade of 9.77 grams per tonne gold over 3.95 metres, including 12.01 grams per tonne gold over 3.10 metres. Lake Shore President and CEO Brian Booth said: "These new gold zones at Thunder Creek have been expanded over a 31-metre wide core length within a variably altered zone of ultramafic, sediments and various syenitic dykes. The intersection of additional mineralization is very positive and the potential of this discovery is highly prospective, as all the zones remain open along strike and above and below the discovery intercepts. These collective intersections further confirm the potential of the Thunder Creek property to host high-grade gold mineralization with significant upside. The new intersections are located approximately 865 metres southwest of the Timmins West shaft currently being developed as part of our advanced underground exploration program. If the new zones are of sufficient size, they could significantly impact the Company in the short term as we may be able to access them from the Timmins West shaft." He added that the Company has recently increased the number of drills to two in order to further define the true widths and geometry of the mineralization. The Thunder Creek property represents a primary gold exploration target consisting of 54 claim units where Lake Shore is earning a 60% interest pursuant to an option agreement with West Timmins Mining Inc. by spending $1.7 million over a five-year period ending in November 2008. Approximately $1 million in expenditures has been incurred to date.
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