Lake Shore Gold Intersects Wide, High-Grade Gold Mineralization at Bell Creek Mine, Development Along North A Zone Progressing
Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore Gold" or the "Company") today
announced that the new access ramp being developed from surface at the Bell
Creek Mine has reached the 320 Level and intersected high-grade mineralization
in the North A Zone (the "Zone") with a development cross cut. The Company is
now developing east and west along mineralization on the Zone. In addition, the
Company reported several wide, high-grade intersections from the initial 15
holes (3,261 metres) of underground drilling to test the North A Horizon between
the 300 and 360 metre levels. The 320 Level is 20 metres below the previous
deepest level of the mine. This drilling and development program is designed to
confirm and expand mineralization outlined in this area from previous
wide-spaced drilling and to support first NI 43-101 mineral resource estimates.
Tony Makuch, President and CEO of Lake Shore Gold, commented "Reaching the North
A Zone on the 320 Level is a major milestone for Lake Shore Gold as we move
forward with development for delineation of the gold mineralization at the Bell
Creek Mine. At this point, the development along the Zone on the 320 Level is
proceeding well and reached approximately 25 metres east and 15 metres west of
the crosscut. Mineralization encountered in the development to date matches our
expectations from surface diamond drilling, and shows a distinct east-west
trending and steeply southward dipping gold rich quartz vein and alteration zone
with widths of up to 3.00 metres. Numerous occurrences of coarse visible gold
have been recognized in the muck pile and diamond drill core. The initial
results of the underground drilling have also easily met our expectations and
intersected high-grade gold values over widths up to 8.60 metres wide in areas
below and east of the previous mine workings. This information supports our
belief that Bell Creek will be a very successful mining project.
"Additional drilling to define and extend the mineralization will continue to
target areas below the current underground development at Bell Creek, as well as
at the Marlhill, Vogel and Wetmore properties. The Company remains on track to
announce an initial resource for the Bell Creek Complex during the fourth
quarter of 2010."
Underground drilling was completed from cut-outs located on the 180 and 210
metre levels of the Bell Creek Mine. Eight of the holes (2,130 metres) were
drilled from the 180 Level and were designed to test a block between the 300
Level and the 360 Level, immediately below the original mine workings, that will
be the main focus for development on mineralization for the next six to twelve
months. The results from drilling included 6.95 gpt over 8.60m in BC-180-225,
5.89 gpt over 3.90 m in BC180-231, 9.53 gpt over 1.60 m in BC180-228, 7.95 gpt
over 1.50 m in BC180-224 and 7.81 gpt over 1.50 m in BC180-221.
Seven of the new holes (1,131 metres) were drilled from the east portion of the
210 Level and were designed to confirm and expand the North A Zone to the east
of previously mined areas surrounding the 300 Level. These holes were successful
and included 7.49 gpt over 7.40m in BC210-258, 5.03 gpt over 8.20m in BC210-257
and 8.50 gpt over 4.00m in BC210-255. BC210-255 and BC210-258 are in an untested
area 60 to 80 metres east of previous Hole BC05-22, which intersected 7.83 gpt
over 9.67m, and 60 to 80 metres below previous Hole BC05-28, which intersected
7.17 gpt over 5.10m. BC210-257 is located slightly above these holes. Testing
along the structure along strike of these intersections to the east is limited
and is considered to host excellent potential for the addition of new resources.
Of note, several of the newly reported intersections from the recent drilling
contain widths that are substantially greater than the historic average of 2.00
metres. Based on the current and past drill results in the North A Zone, the
minimum overall strike length of the Zone near the 320 Level is projected to be
500 metres with excellent potential for extension. Drilling is continuing on the
210 and 240 metre levels in order to complete the necessary infill drilling for
resource definition and estimation, and to evaluate further extensions of the
North A Zone to both the east and west. In addition, drilling is also ongoing
from surface with five drills. Two of the surface drills are conducting further
infill above the 1,000 Level with the other three testing for further extensions
of mineralization to depth where previous drilling has indicated some of the
widest and best-grade intersections to date. Testing is also ongoing at the
Vogel and Wetmore properties.
Quality Control
The Company's Qualified Person ("QP") for the Bell Creek property is Ralph Koch,
P.Geo. As QP, he has prepared or supervised the preparation of the scientific or
technical information for the property and verified the data disclosed in this
press release.
Lake Shore Gold has implemented a quality-control program to ensure best
practice in the sampling and analysis of the drill core. Assays have been
completed at both SGS Minerals Services (BC180 series holes) and LSG - Bell
Creek lab (BC210 series holes) using a standard fire assay with a 30g aliquot
and an AA finish. Samples with assay results above 3.0 gpt are re-analyzed using
a gravimetric finish. Any intervals showing visible gold ("VG") as well as
select intersections, based upon visual inspection of the core, are sometimes
analyzed using the pulp metallic method. 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 to the SGS Minerals Services lab in Sudbury for preparation or the LSG -
Bell Creek lab for preparation and analysis. The pulps from drill core sent to
the SGS Minerals Services prep lab are shipped to the SGS Minerals Services lab
in Don Mills for analysis.
The SGS Minerals Services labs are ISO 17025 certified. The LSG - Bell Creek lab
conducts in-house analysis of mill, underground and drill core samples and is
not an ISO 9001-2000 registered laboratory.
About Lake Shore Gold Corp.
Lake Shore Gold is a rapidly growing mining company with a goal to become a
North American mid-tier gold producer through the successful exploration,
development and operation of three wholly owned mines in Timmins, Ontario:
Timmins Mine, Thunder Creek and Bell Creek Complex. The Company is currently in
pre-production development at the Timmins Mine project, where it has both a
shaft and a ramp, and has accessed mineralization at the adjacent Thunder Creek
property, as part of an underground advanced exploration program, through an
underground drift from the Timmins Mine ramp. Progress is also being made with
an underground advanced exploration program at its Bell Creek Complex, located
on the east side of Timmins. The Bell Creek Mill has been refurbished and is
being expanded incrementally to a total capacity of 3,000 tonnes per day by late
2011. The Company continues to invest aggressively in exploration primarily in
Timmins and in select other areas of Northern Ontario and Quebec, and owns a
large land position in Mexico. The Company's common shares trade on the TSX
under the symbol LSG.
Forward-looking Statements
Certain statements in this press release relating to the Company's exploration
activities, potential for increasing resources, project expenditures and
business plans are "forward-looking statements" within the meaning of securities
legislation. The Company does not intend, and does not assume any obligation, to
update these forward-looking statements. These forward-looking statements
represent management's best judgment based on current facts and assumptions that
management considers reasonable, including that operating and capital plans will
not be disrupted by issues such as mechanical failure, unavailability of parts,
labour disturbances, interruption in transportation or utilities, or adverse
weather conditions, that there are no material unanticipated variations in
budgeted costs, that contractors will complete projects according to schedule,
and that actual mineralization on properties will not be less than identified
mineral reserves. The Company makes no representation that reasonable business
people in possession of the same information would reach the same conclusions.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. In
particular, fluctuations in the price of gold or in currency markets could
prevent the Company from achieving its targets. Readers should not place undue
reliance on forward-looking statements. More information about risks and
uncertainties affecting the Company and its business is available in Lake Shore
Gold's most recent Annual Information Form and other regulatory filings which
are posted on sedar at www.sedar.com.
There is no guarantee that drill results reported in this news release will lead
to the identification of a deposit that can be mined economically, and further
work is required to identify resources and reserves.
Bell Creek Complex Underground - Significant Assay Results
--------------------------------------------------
Depth Target Intersection
Hole Number East North (m) Zone From To (gpt/m)
--------------------------------------------------
BC180-222 5640.60 5452.50 297.0 NA_HW 232.00 234.45 6.35/1.50m
--------------------------------------------------
NA 244.50 246.00 3.03/1.50m
--------------------------------------------------
NAEX 257.75 259.00 4.61/1.50m
--------------------------------------------------
NAEX 261.70 262.50 3.13/1.50m
--------------------------------------------------
BC180-221 5640.60 5452.50 297.0 NA 261.90 262.60 7.81/1.50m
--------------------------------------------------
NAEX 281.70 284.50 4.25/2.10m
--------------------------------------------------
BC180-223 5640.60 5452.50 252.0 NA 233.30 237.00 3.18/1.80m
--------------------------------------------------
BC180-224 5640.60 5452.50 270.0 NA 254.20 256.80 7.95/1.50m
--------------------------------------------------
BC180-225 5640.60 5452.50 240.0 NA 198.40 207.00 6.95/8.60m
--------------------------------------------------
BC180-227 5640.60 5452.50 291.0 NA 201.50 203.60 3.89/2.10m
--------------------------------------------------
BC180-228 5640.60 5452.50 252.0 W5F 78.10 81.40 5.84/2.60m
--------------------------------------------------
NA 226.00 227.60 9.53/1.60m
--------------------------------------------------
BC180-231 5640.60 5452.50 231.0 NA 194.10 198.00 5.89/3.90m
--------------------------------------------------
BC210-255 5787.70 5512.00 174.0 NA 129.00 133.00 8.50/4.00m
--------------------------------------------------
BC210-256 5789.80 5511.00 141.0 NA 97.00 98.00 2.19/1.50m
--------------------------------------------------
BC210-257 5789.80 5511.00 150.0 NA 104.00 112.20 5.03/8.20m
--------------------------------------------------
BC210-258 5789.80 5511.00 144.0 NA 115.50 127.30 7.49/7.40m
--------------------------------------------------
BC210-259 5789.80 5511.00 177.0 NA 149.70 151.20 3.10/1.50m
--------------------------------------------------
BC210-260 5791.80 5510.30 144.0 NA 128.70 130.50 3.33/1.80m
--------------------------------------------------
BC210-261 5791.80 5510.30 201.0 NA 139.40 140.90 3.12/1.50m
--------------------------------------------------
1) Assays are reported uncut.
2) True widths are not reported at this time.
To view Figure 1 - Long Section (Looking Northwest), please visit the following
link: media3.marketwire.com/docs/lsg_0920_fig_1_final.pdf
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