Mr. Tony Makuch reports
LAKE SHORE GOLD TRIPLES MINIMUM STRIKE LENGTH OF 144 GAP ZONE MINERALIZATION
Lake Shore Gold Corp. has provided the results from an additional 20 drill holes and one wedge hole (23,598 metres) at the company's 144 exploration area. 144 is located immediately southwest of the Timmins West mine Thunder Creek deposit and covers about 4.0 kilometres of the same volcanic/ultramafic, intrusive/sedimentary contact (the TC-144 trend) that hosts both Thunder Creek and Timmins deposits. The current drill program, launched in August, is largely focused on the area immediately adjacent to Thunder Creek (the 144 Gap), where a new discovery was announced in October, 2014.
Tony Makuch, president and chief executive officer of Lake Shore Gold, commented: "The results being announced today are very exciting as they significantly expand the size of the 144 Gap zone and position the zone much closer to Thunder Creek than previously identified. Everything we have seen to date supports our view that the 144 Gap has the potential to add considerable new resources and introduce an important new component to our production profile. With six drills working on surface, our exploration drift advancing towards completion during the third quarter and underground drilling expected to commence by midyear, we expect to generate significant information and news flow about the 144 Gap zone in 2015. Our target remains to establish an initial resource at the 144 Gap zone for the end of the year."
Two holes (Hwy-14-63 and Hwy-14-70) were drilled to test the strike extension of the 144 Gap zone approximately 200 metres east of the previous east limit for the zone and 500 m west of mine infrastructure at the Thunder Creek deposit. Hwy-14-70 intersected the structure approximately 810 m below surface and close to the planned elevation for the new exploration drift. Among the results from this hole were 3.80 grams per tonne (g/t) over 12.0 metres, including 7.26 g/t over 4.8 m, 6.66 g/t over 1.9 m and 3.68 g/t over 18.0 m, including 5.27 g/t over 9.0 m. Hwy-14-63 intercepted the structure approximately 150 m below Hwy-14-70 with results of 100 g/t over 0.4 m, 5.76 g/t over 4.1 m, 7.22 g/t over 3.0 m, 6.48 g/t over 2.0 m and 5.11 g/t over 3.0 m.
Nine holes and one wedge hole (Hwy-14-57, 58, 59, 65, 65W1, 71, 72, 73, 74 and 75) were drilled within, and immediately surrounding, the dimensions of the 144 gap zone reviewed in the company's press release entitled, "Drilling at 144 property intersects additional wide, high-grade mineralization at new 144 Gap zone," issued on Nov. 13, 2014.
Holes Hwy-14-58, 65, 65W1 were drilled below the 144 Gap zone and extended mineralization by approximately 100 m to depth. Among key intercepts were 6.56 g/t over 12.0 m, including 12.17 g/t over 5.0 m, 5.27 g/t over 1.6 m, 5.58 g/t over 6.0 m and 5.73 g/t over 4.3 m in Hwy-14-65, and 6.07 g/t over 2.9 m, 10.29 g/t over 2.0 m, 6.01 g/t over 3.9 m, 19.65 g/t over 2.0 m, 7.6 g/t over 11.2 m and 10.24 g/t over 1.9 m in Hwy-14-65W1.
Holes Hwy-14-57, 59, 72, 73, 74 and 75 were drilled in the east portion of 144 Gap zone and expanded the limits by 50 m to the northeast. Key intercepts from these holes were 4.06 g/t over 15.0 m in Hwy-14-59, 4.71 g/t over 6.10 m and 5.89 g/t over 6.70 m in Hwy-14-72, 6.66 g/t over 9.4 m, 19.15 g/t over 2.2 m, including 102.5 g/t over 0.4 m in Hwy-14-73, 4.06 g/t over 10.9 m, 7.05 g/t over 5.2 m and 5.07 g/t over 3.0 m in Hwy-14-74, and 5.25 g/t over 6.6 m, 7.37 g/t over 2.5 m, and 157.04 g/t over 1.9, including 591 g/t over 0.5 m, in Hwy-14-75.
Hwy-14-71 was drilled near the previous west limit of the 144 Gap zone and intersected 3.19 g/t over 25.8 m, including 5.71 g/t over 6.9 m. The results of this new hole extend the limits of the 144 Gap zone by 50 m to the west.
The remaining eight holes were drilled mainly as widely spaced step-outs to evaluate the extension of mineralization to depth with most encountering thick intervals of porphyry and local high-grade values which confirmed the extension of the mineralized system to depth.
Recent interpretations continue to suggest that the mineralization at 144 Gap is contained within a broad zone of hydrothermal alteration and deformation measuring up to 100 m wide and closely associated with syenite intrusions, quartz veining, pyrite, scheelite and/or galena, and multiple occurrences of visible gold. The new results identify the 144 Gap zone over minimum dimensions of 350 metres along strike and 350 metres down dip with mineralization contained in a combination of wide bulk and narrow high-grade structures.
Qualified person
The qualified person (QP) for Lake Shore Gold's drill program at the 144 is Eric Kallio, senior vice-president of exploration, PGeo. Mr. Kallio, as a QP, 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.
Quality control
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 using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than 10 grams per tonne gold, the sample is fire assayed with a gravimetric finish. Select 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 Minerals Preparation facility located either in Sudbury, Ont., or to Val d'Or, Que., and the pulps are subsequently shipped to the ALS Minerals assay laboratory facility in Val d'Or, Que. (or rarely in North Vancouver, B.C.) for fire assay. These ALS Minerals facilities are all registered ISO 9001-2008 (CERT-0051527). The Val d'Or assay laboratory is SCC ISO/IEC 17025:2005 accredited (No. 689) and the North Vancouver, B.C., assay laboratory is also SCC ISO/IEC 17025:2005 accredited (No. 579).
LIST OF SIGNIFICANT COMPOSITE INTERVALS FROM NEW DRILLING
Highway 144 project -- significant assay results
Hole Depth From To Interval Grade Comments
No. (m) (m) (m) (m) (g/t)
HWY-14-57 1386
934.40 943.00 8.60 3.01
1029.80 1035.00 5.20 2.81
incl. 1032.00 1034.00 2.00 4.65
HWY-14-59 1382
926.00 941.00 15.00 4.06
incl. 936.90 937.30 0.40 22.80 VG
HWY-14-62 1206
1013.60 1015.30 1.70 5.90
incl. 1015.00 1015.30 0.30 19.10
1042.50 1044.00 1.50 5.30
incl. 1042.50 1042.80 0.30 25.50
HWY-14-63 1480
974.00 976.00 2.00 20.02
fine seam of
VG in MV
incl. 975.00 975.40 0.40 100.00 flows
1091.00 1095.10 4.10 5.76 VG
incl. 1091.00 1094.00 3.00 7.22
1102.00 1104.00 2.00 6.48
1157.00 1160.00 3.00 5.11 VG
incl. 1158.40 1158.70 0.30 24.40 VG
HWY-14-65 1088
978.00 990.40 12.40 6.56 local VG
incl. 978.00 983.00 5.00 12.17
998.90 1000.50 1.60 5.27
1004.00 1010.00 6.00 5.58
incl. 1006.00 1007.00 1.00 23.30
1040.70 1045.00 4.30 5.73
incl. 1042.30 1042.80 0.50 23.60
1065.00 1067.50 2.50 4.78 VG
Hole Depth From To Interval Grade Comments
Number (m) (m) (m) (m) (g/t)
HWY-14-
65W1 1225
968.30 971.20 2.90 6.07
978.00 980.00 2.00 10.29
incl. 978.90 979.20 0.30 61.70 VG
983.00 987.00 4.00 2.96
1009.40 1013.30 3.90 6.01
incl. 1009.90 1010.20 0.30 60.70 VG
1033.00 1035.00 2.00 19.65
1046.80 1058.00 11.20 7.60
incl. 1049.70 1050.60 0.90 66.20 VG
1069.00 1074.00 5.00 3.02
1080.00 1081.90 1.90 10.24
incl. 1080.50 1081.20 0.70 27.60
HWY-14-67 1082
933.50 935.90 2.40 4.53
incl. 934.90 935.90 1.00 7.62
1049.40 1050.30 0.90 3.85
HWY-14-68 1133
964.30 968.60 4.30 2.22
982.00 983.50 1.50 3.05
992.30 994.00 1.70 3.16
HWY-14-69 1113
970.50 973.40 2.90 3.78
incl. 972.50 973.40 0.90 8.69
1021.00 1022.60 1.60 2.83
incl. 1022.00 1022.60 0.60 7.36
HWY-14-70 1252
906.00 918.00 12.00 3.80
incl. 906.00 910.80 4.80 7.26
which
incl. 906.50 907.00 0.50 25.00 VG
963.30 965.00 1.70 3.77
1002.00 1003.90 1.90 6.66
1030.00 1048.00 18.00 3.68
incl. 1030.00 1039.00 9.00 5.27
which
incl. 1032.30 1033.00 0.70 32.80 VG
Hole Depth From To Interval Grade Comments
No. (m) (m) (m) (m) (g/t)
HWY-15-71 1224
994.70 1020.50 25.80 3.19
incl. 1010.60 1017.50 6.90 5.71
which
incl. 1011.50 1012.00 0.50 27.90 VG
and
incl. 1017.00 1017.50 0.50 27.40 VG
HWY-15-72 1149
986.20 992.30 6.10 4.71
1038.00 1044.70 6.70 5.89
incl. 1044.00 1044.70 0.70 39.00 VG
HWY-15-73 1152
956.20 957.90 1.70 5.51
964.20 973.60 9.40 6.66
incl. 965.20 967.20 2.00 23.05
1009.00 1011.20 2.20 19.15
incl. 1009.00 1009.40 0.40 102.50 VG
1020.20 1022.60 2.40 3.02
1141.90 1143.50 1.60 3.69
incl. 1142.40 1142.70 0.30 18.10 VG
HWY-15-74 1144
956.70 967.60 10.90 4.06 VG
1000.40 1005.60 5.20 7.05
incl. 1003.40 1005.60 2.20 12.60
1094.90 1097.90 3.00 5.07
HWY-15-75 1074
804.20 805.80 1.60 3.83
824.60 831.20 6.60 5.35
incl. 828.50 829.00 0.50 34.40
905.20 907.70 2.50 7.37
incl. 905.20 905.70 0.50 30.20 fine VG
917.50 919.40 1.90 157.04
incl. 917.80 918.30 0.50 591.00 fine VG
Notes:
1) Holes HWY-14-58, HWY-14-60, HWY-14-61, HWY-14-64 and HWY-14-66, returned
lower grade assay values.
2) Hole HWY-14-61A was terminated prior to target due to excessive
deviation.
3) Assays are reported uncut.
4) True widths are not reported at this time.
We seek Safe Harbor.
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