ONTARIO – Lake Shore Gold Corp. of Toronto has released its annual reserve update that includes a 29% increase in total reserves to 773,300 oz of gold. Or put another way, that is 4.48 million tonnes at an average grade of 4.4 g/t Au. A year ago the company had reserves of 598,800 oz in 4.04 million tonnes grading 4.6 g/t.
Lake Shore operates two mines near Timmins, Timmins West and Bell Creek. Reserves at Timmins West grew 4% to 509,700 oz (3.61 million tonnes at 4.3 g/t Au). At the Bell Creek mine, reserves more than doubled to 263,600 oz (1.79 million tonnes at 4.7 g/t). The company said that the large jump in reserves at Bell Creek extends the life of the mine, or it may be economic to increase production.
The 2014 exploration program included 122,000 metres of drilling at the two gold mines. An important new discovery was made southwest of the Timmins West mine and within 500 metres of the Thunder Creek deposit. The find has been christened the 144 Gap zone that stretches 350 metres along strike and 350 metres down dip, and it is open.
Click here to read the March 12, 2015, news release with details of resources at Lake Shore’s mines or visit LSgold.com.