Lake Shore Gold (LSG) Completes Thunder Creek Assessment; 521.6K Contained Oz. Gold Reported
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Lake Shore Gold Corp. (AMEX: LSG) announced the completion of an initial National Instrument ("NI") 43-101 resource estimate for the Company's wholly owned Thunder Creek property located in Timmins, Ontario. The reported resource contains 521,600 contained ounces of gold in the Indicated category and 510,000 ounces Au in the Inferred category.
The Thunder Creek resource was estimated using the Inverse Distance to the power 2 (ID2) interpolation method with all gold assays capped to 75 gram metres, and an assumed long-term gold price of US$1,200 per ounce. The base case estimate assumes a cut off grade of 1.50 gpt, which includes 10% internal dilution at 1.75 gpt.
The resource estimate was completed using a total of 440 holes of new drilling for 131,431 total metres. Of the new drilling, 89 holes (77,870 metres) were from surface drilling and 351 holes (53,561 metres) were from underground platforms located near the 300 and 730 levels at Thunder Creek. All recent drilling has been focused on a 300 metre strike length to a depth of over 900 metres. Typical drill spacing for Indicated resources is less than 30 metres and for Inferred resources is less than 60 metres. The alteration system that hosts the current resources is open along strike and to depth and, based on this, the potential to discover new zones of mineralization in the area is considered excellent.
The total resources reported are contained in eleven separate zones lying between the 250 level and the 900 metre level. Two key zones were identified in the Porphyry mineralization which account for over three quarters of the total ounces in resource. Average horizontal widths for these two zones are estimated at 14.7 metres and 24.4 metres, respectively.
The Thunder Creek resource was estimated using the Inverse Distance to the power 2 (ID2) interpolation method with all gold assays capped to 75 gram metres, and an assumed long-term gold price of US$1,200 per ounce. The base case estimate assumes a cut off grade of 1.50 gpt, which includes 10% internal dilution at 1.75 gpt.
The resource estimate was completed using a total of 440 holes of new drilling for 131,431 total metres. Of the new drilling, 89 holes (77,870 metres) were from surface drilling and 351 holes (53,561 metres) were from underground platforms located near the 300 and 730 levels at Thunder Creek. All recent drilling has been focused on a 300 metre strike length to a depth of over 900 metres. Typical drill spacing for Indicated resources is less than 30 metres and for Inferred resources is less than 60 metres. The alteration system that hosts the current resources is open along strike and to depth and, based on this, the potential to discover new zones of mineralization in the area is considered excellent.
The total resources reported are contained in eleven separate zones lying between the 250 level and the 900 metre level. Two key zones were identified in the Porphyry mineralization which account for over three quarters of the total ounces in resource. Average horizontal widths for these two zones are estimated at 14.7 metres and 24.4 metres, respectively.
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