ONTARIO - Toronto-based Lake Shore Gold has released the first 43-101 figures for its Bell Creek complex near Timmins. Measured and indicated resources are 1.79 million tonnes averaging 4.36 g/t Au or 251,200 contained oz of gold. In the inferred category there are 8.43 million tonnes averaging 4.40 g/t or 1.19 million contained oz. A cutoff grade of 2.20 g/t Au and a long-term gold price of US$1,125 per oz were used in the calculations. The resource remains open at depth and along strike.
"This initial resource estimate represents a strong starting point as we continue to advance the Bell Creek deposit forward towards production. We are also encouraged by the sensitivity analysis done, which highlights the increase in resource grades at lower gold prices and higher cutoff grades," president and CEO Tony Makuch said in a news release. "Engineering studies are progressing for access design and mining of deeper thick zones as part of a pre-feasibility study for the Bell Creek complex. We fully expect that as mine planning progresses, internal dilution can be reduced which we believe will allow us to improve the resource grades by at least 0.35 grams per tonne."
The resources included in the initial report are contained in six separate zones - North A, North A2, North A3, North A Extension, North B and North B2. The North A zone is estimated to contain 80% for the measured and indicated ounces and 50% of the inferred ounces.
The Bell Creek complex includes the former Bell Creek mine, the Bell Creek West acquisition, plus the Vogel, Schumacher and Marlhill properties. Resources estimates for the Vogel and Marlhill properties are in progress.
Highlights of the exploration programs at all of the projects are posted at www.LSGold.com.
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