Lake Shore Gold Reports Extension to High Grade Mineralization at Bell Creek, Including 12.67 gpt Gold Over 14.40 Metresadmin
Lake Shore Gold Corp. announced encouraging results from 25 new holes, 6 wedge holes and one hole extension (12,085 m) at the Company’s 100% owned Bell Creek property. The most significant results being reported are from Hole BC-09-53, which intersected 12.67 gpt Au over 14.40 m, including higher grade zones of 16.73 gpt Au over 10.0 m (including 29.90 gpt over 2.0 m and 18.48 gpt over 2 m).
BC-09-53 intersected mineralization at a vertical depth of 985 m below surface and approximately 60 m west of previously released Hole BC-09-24B, which returned 12.63 gpt over 11.65 m (see press release dated July 21, 2009) and 165 m below previously released BC-08-09, which included 7.60 gpt over 6.30 m, 6.06 gpt over 4.65 m and 7.76 gpt over 1.15 m (see press release dated December 10, 2008). In addition, holes BC-09-24F and BC-09-24C returned 7.35 gpt over 7.1 m and 6.04 gpt over 4.1 m from the same zone, 32 m and 85 m, respectively, up dip from hole BC-09-24B.
These new significant intersections occur at depth along a steeply south dipping contact between mafic and ultramafic rocks west of the Bell Creek fault. As with BC-09-24B, the new intersections are associated with strong hydrothermal alteration, quartz veining and 5-15% pyrite and pyrrhotite mineralization.
Tony Makuch, President and CEO of Lake Shore Gold, commented: “Today’s results provide confirmation both that a large gold system exists at depth at Bell Creek and that there is consistency and continuity to the mineralization closer to surface near the historic mineralization. Drilling to date has demonstrated excellent grades and widths to a total plunge length of 1,150 m. With results from BC-09-53, the total strike length of the mineralized system at depth has been identified to a minimum of 185 m, with the system remaining open both at depth and along strike. We continue to be very encouraged with exploration results at Bell Creek and currently have six drills working on the property, four involved in resource definition of the North A and other veins in the central part of the main easterly plunging system and two drills following up on deep mineralization.
“In addition to exploration success from surface drilling, work is progressing well on the underground advanced exploration program at Bell Creek, with the Bell Creek shaft being de-watered to a depth of approximately 150 m and the ramp having advanced 570 m. Our plans are to develop Bell Creek into Lake Shore Gold’s second mine complex in Timmins, as we transition and grow Lake Shore Gold into a mid-tier gold producer.”
A number of holes being reported today were drilled as part of an ongoing program to test the Bell Creek ‘Vein Zones’ along a 500 metre strike length to a depth of 700 metres. The main target of the ‘Vein Zone’ drilling is the North A Zone from which the bulk of previous production occurred. This current drilling is testing the North A horizon at 50 – 75 metre centres between the 400 and 700 metre levels. Significant intersections from this zone include 6.27 gpt Au over 3.00 m in Hole BC-09-11, 11.56 gpt Au over 2.20 m in BC-09-50 and 6.64 gpt Au over 1.10 m in BC-09-07.
Today’s results also include 7 holes designed to test the previously announced Portal and South Zones. A total of 6 holes tested the Portal Zone, located 180 m south of the Bell Creek shaft and within 100 m of the Bell Creek ramp. Significant intersections from this zone include 5.87 gpt Au over 3.2 m, including 18.40 gpt over 0.8 m, from BC-09-37. This mineralization is hosted within locally well altered and mineralized mafic flows. Hole BC-08-22 intersected 5.66 gpt Au over 3.1 m, including 37.10 gpt over 0.5 m from the South Zone, a new zone first intersected in mid-2008 (see press release dated July 9, 2008).
Hole S-09-06B, which tested the mafic ultramafic contact 120 metres east of BC-09-24B, confirmed the continuity of the mineralization at depth along strike. S-09-06B intersected 5.0 m of favourable hydrothermal alteration and quartz veining as encountered in BC-09-24B and BC-09-53 returning a gold grade of 2.06 gpt Au over 0.85 m. Lower sulphide content and weaker alteration appear to be the reason behind the lower grade.