Lake Shore Gold has found new gold mineralization on the southern portion of its 144 Gap Zone at its Timmins property.
According to a news release, surface drilling in the area discovered the mineralization 450 metres below and northeast of previous drilling. Drilling returned key intercepts of 3.11 gpt/19.1 m, 5.38 gpt/3.6 m, 4.27 gpt/7.3 m, and 9.59 gpt/ 3.0 m.
The company is striving to establish a first resource estimate for the property by early in 2016.
Tony Makuch, Lake Shore’s president and CEO, called the drill results “very significant,” and said they are “similar to, and in some cases, better than” drill results released in September.
“We are also very pleased with initial results from our surface exploration program, which continues to demonstrate our ability to identify new zones of gold mineralization as we move to the southwest from the 144 Gap Zone, and highlights the considerable potential of the 144 Trend to host multiple gold deposits,” he said in the release.
“With our exploration drift completed, we now have six underground drills operating at the 144 Gap Zone and remain on track to achieve our objective of releasing a first resource early in 2016."
Lake Shore Gold produces gold from two mines, Timmins West and Bell Creek, which is processed at its Bell Creek Mill. The company is additionally undertaking exploration activity in the Timmins camp.
Full drill results are available at www.lsgold.com.
