Mr. Tony Makuch reports
LAKE SHORE GOLD IDENTIFIES NEW, HIGH-GRADE STRUCTURES NEAR CURRENT MINING AT BELL CREEK LABINE DEPOSIT
Lake Shore Gold Corp. has released results from 16 new holes (3,718 metres) from drilling at the Bell Creek mine in the area now called the Labine deposit, representing all of the mine's currently known zones. The new holes were drilled as part of a program designed to confirm and expand resources below the 685 level. The program includes approximately 2,593 metres from the 2014 operating and capital budgets of 9,850 metres as well as 1,125 metres from a new 3,750-metre exploration budget announced in January, 2014.
Highlights:
- New, high-grade intersections reported in previously untested gap in
Labine deposit North A zone and in two new hangingwall structures east
of current mining (14.12 gram per tonne over 10.2 metres,
8.41 grams per tonne over 12.0 metres and 7.01 grams per tonne over 10.7 metres);
- Additional new high-grade structure, and intercepts in North A zone,
defined near active mining from drilling on 685 level, intercepts
include 11.42 grams per tonne over 3.6 metres, 8.47 grams per tonne over 4.6 metres, 7.76 grams per tonne over 8.7 metres,
5.96 grams per tonne over 6.5 metres and 6.38 grams per tonne over six metres;
- Revised resource model for Labine deposit suggests potential for
significantly higher grades within slightly narrower structures below
685 level;
- Additional drilling to confirm and expand zones below 685 level in
progress.
Key intersections being reported include 14.12 grams per tonne over 10.2 metres in BC610-865, 8.41 grams per tonne over 12.0 metres in BC610-911, 7.01 grams per tonne over 10.7 metres in BC610-863A and 6.02 grams per tonne over 7.6 metres in BC610-872. The drilling, completed from the 610 level, was concentrated in an untested gap near the east limit of the current resource. The holes identify new high-grade intercepts within the North A zone and also define two new hangingwall structures 100 metres to the east of current mining (HW6 and HW7). The new structures identified in the program appear to follow a similar southwest trend as other hangingwall structures being mined farther to the west, but with thicker widths and better grades.
Additional results being announced include 11.42 grams per tonne over 3.6 metres in BC685-901, 8.47 grams per tonne over 4.6 metres in BC685-901, 7.76 grams per tonne over 8.7 metres in BC685-860A, 5.96 grams per tonne over 6.5 metres in BC685-861 and 6.38 grams per tonne over six metres in BC685-902. These holes were drilled on the 685 level in close proximity to active mining. The holes are considered important as they include new high-grade intercepts in the North A zone and define a third new hangingwall structure from the current drilling that provides additional support for a revised deposit model the company is developing for the mine.
The revised deposit model is based on multiple southwest-trending veins branching from the North A zone rather than previous models which were based mainly on east-west-trending zones. The revised model assumes somewhat narrower mining widths but with significantly higher grades for certain zones. By combining the results of previous drilling with the new holes being announced today, the company has to date identified at least seven new hangingwall structures, as well as several examples of intercepts from previously drilled holes crossing these new structures where widths could be reduced slightly to increase grades.
Tony Makuch, president and chief executive officer of Lake Shore Gold, commented: "These early results from our 2014 drill program are very encouraging. They include high-grade intercepts in an untested gap in the Labine deposit and have identified a number of new, high-grade structures near current mining. The results indicate that considerable potential exists to add ounces at Bell Creek, particularly on the hangingwall, as well as to significantly increase average grades in some areas at somewhat narrower widths. We have been very pleased with our operations at Bell Creek, where our average reserve grade was recently increased to 4.7 grams per tonne and where production this year is on track to increase by more than 25 per cent. We have one drill turning presently, which is continuing to test for new zones below the 685 level, and are in the process of deploying a second drill for the same purpose."
Quality control
The qualified person for Lake Shore Gold's drill program at the Bell Creek mine is Eric Kallio, PGeo, who, as a qualified person, has prepared or supervised the preparation of the scientific or technical information for the property and verified the data disclosed in this press release. Mr. Kallio is an employee of Lake Shore Gold.
Lake Shore Gold has a quality control program to ensure best practices in the sampling and analysis of drill core. Normal practice for all programs has been to insert three quality control samples including one blank, one certified standard and one reject duplicate at a frequency of every 40 drill core samples submitted. The blanks and the certified standards are checked to be within acceptable limits prior to being accepted into the GEMS SQL database. Routine assays have been completed using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than 10 grams per tonne gold, the remaining pulp is taken and fire assayed with a gravimetric finish.
Underground drilling at the Bell Creek mine utilizes two different core sizes, including LTK-48 with a core diameter of 35.3 millimetres (Bazooka drill) and BQ which has a core diameter of 36.4 millimetres (electric drills). Sampling of drill core is conducted in intervals according to geological control (minimum 30 centimetres, maximum 1.5 metres, averaging one metre) with all core being whole core sampled and pulps being stored in cold storage. For select drill holes, core is saw cut, the remaining half is stored in a secure location.
Gold analysis for underground drill core at Bell Creek has utilized three analytical laboratories. All underground drill core is analyzed at either ALS Canada Ltd. (2090 Riverside Dr., Timmins, and 2103 Dollarton Highway, North Vancouver), Activation Lab (1752 Riverside Dr., Timmins) or Lake Shore Gold's Bell Creek complex mill laboratory. ALS Canada is ISO 9001:2008 and ISO 17025 certified. Activation Laboratories in Timmins is ISO 9001 certified and follows its fully certified main Ancaster, Ont., lab analytical procedures (working toward ISO 17025 CANP4E in early 2014). Lake Shore Gold's Bell Creek mill laboratory is not ISO certified.
NEW DRILLING FROM 610 LEVEL
Zone Au comp
Hole ID Section From (m) To (m) width (m) (g/t) Zone
BC610-863A 5950 143.0 145.2 2.2 3.40 NA2
167.3 178.0 10.7 7.01 HW6
inc 167.3 174.0 6.7 9.10
201.0 203.2 2.2 3.65 NA
BC610-864 5950 154.4 160.0 5.6 4.64 NA2
180.1 182.7 2.6 2.65 HW6
213.8 216.0 2.2 5.05 NA
BC610-865 5950 174.7 177.0 2.3 4.28 NA2
190.7 200.9 10.2 14.12 HW6
230.6 238.9 8.3 5.29 HW8
inc 230.6 233.0 2.4 10.04
inc 236.0 238.9 2.9 4.55
257.6 259.6 2.0 2.94 NB2
BC610-866 5950 126.2 128.3 2.1 5.39 NA2 HW
139.2 141.9 2.7 8.00 NA2
170.5 173.0 2.5 5.08 HW6
193.7 196.0 2.3 4.07 NA
BC610-867 5950 130.0 134.7 4.7 2.47 NA2
166.1 168.3 2.2 0.36 HW6
197.1 199.3 2.2 1.15 NA
219.0 221.4 2.4 3.66 NB2
BC610-871 5950 200.0 203.4 3.4 4.95 NA2
277.3 279.3 2.0 3.26 NA
353.3 355.6 2.3 6.11 NB
BC610-872 5950 185.0 192.6 7.6 6.02 HW6
inc 185.0 187.9 2.9 10.95
255.8 258.9 3.1 3.39 NA
286.9 290.4 3.5 5.08 NB2
BC610-911 5950 210.3 212.3 2.0 1.91 NA2
243.6 255.6 12.0 8.41 HW7
inc 243.6 251.0 7.4 9.38
inc 253.6 255.6 2.0 13.02
286.0 288.0 2.0 1.07 NA
NEW DRILLING FROM 685 LEVEL
Zone Au comp
Hole ID Section From (m) To (m) width (m) (g/t) Zone
BC685-860A 73.3 75.3 2.0 3.97 HW5
82.4 84.5 2.1 3.51 NW4
126.2 134.9 8.7 7.76 NA
BC685-861 87.5 90.0 2.5 4.18 HW4
129.7 136.2 6.5 5.96 NA
inc 132.8 136.2 3.4 8.93
155.4 160.7 5.3 2.75 NB2
inc 155.4 157.6 2.2 3.63
BC685-901 5862 0.0 3.6 3.6 11.42 NA
7.7 10.1 2.4 11.11 HW2
13.0 17.6 4.6 8.47 HW3
BC685-902 5850 0.0 6.0 6.0 6.38 NA
7.7 10.2 2.5 0.36 HW2
23.4 25.6 2.2 5.07 HW3
34.8 38.0 3.2 3.05 HW4
BC685-903 5837 11.5 13.8 2.3 7.23 HW2
25.0 27.0 2.0 4.37 HW3
34.6 36.6 2.0 1.95 HW4
39.0 41.2 2.2 1.39 HW5
Notes:
1. Zones in BC685-904 and BC905 cut off by faulting and BC685-862 only low
grades.
2. Assays are uncut and true widths are not reported.
3. Intersections in BC685-901 and BC685-902 are partial intercepts (holes
were drilled from new development in North A zone).
We seek Safe Harbor.
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