logo-loader

Lake Shore Gold extends depth and westerly strike of Timmins Gold Mine

Last updated: 16:52 18 Feb 2010 GMT, First published: 17:52 18 Feb 2010 GMT

no_picture_pai

Lake Shore Gold (TSX: LSG) reported yet more positive news from its flagship project, the Timmins Mine in Ontario, Canada. The Timmins Mine is a high grade, underground gold mine.  Hochschild Mining (LSE:HOC), a constituent of London’s FTSE 250, and the second largest primary silver producer, is a significant shareholder in the company.


Lake Shore Gold reported this morning that the drill hole TG08-178f, which was drilled approximately 130 meters down plunge and 100 meters west of the previous boundary of the known gold mineralization, has intersected 8.1 grams per tonne gold over 6 meters, including 15.9 grams per tonne gold over 2.5 meters. The confirmation of gold mineralization both west and down plunge opens up the potential for additional resources at the project.


“TG08-178f is interpreted to have passed through the top of a newly emerging fold nose located to the north of the main or South ultramafic fold nose which controls the bulk of mineralization at the Timmins Mine, including the mineralization currently being drilled and developed on the 650 Level,” Lake Shore Gold noted.


Tony Makuch, President and CEO of Lake Shore Gold, added: "Today's drill results are extremely encouraging for the potential of our Timmins West Gold Mine Complex. Hole TG08-178f demonstrates that gold mineralization at Timmins Mine extends to a vertical depth of 1,330 metres below surface (1,485 metres down plunge) and 100 metres to the west of the current resource boundary, which greatly expands the possibility to add new resources. This hole also substantially extends the depth potential of the Thunder Creek Rusk Horizon to at least 1,700 metres vertically, an extension of 700 metres below previous drilling. In addition, holes TG05-74f and 74e highlight the potential to locate additional resources in areas above the 1,200 metre level at Timmins Mine."


Drilling is continuing with one surface drill rig which will complete a series of wedge holes to explore for additional resources.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

1 hour, 45 minutes ago