Lake Shore Gold Corp. (TSX:LSG,NYSEMKT:LSG) announced results from the first 13 holes completed as part of a new surface drilling program at the Whitney project. In total, 1,600 meters of drilling have been completed.
- Drilling of 110 Zone to south of Hallnor shaft:
- Confirms and expands mineralization to west (Intercepts: 29.42gpt/12.0m, 8.45gpt/9.5m and 6.45gpt/9.2m)
- Extends Zone to depth (Intercepts: 4.62gpt/3.1m and 3.02gpt/10.7m)
- Drilling in north volcanics indicates potential to extend near-surface resources to north and to depth (Intercepts: 3.20gpt/7.2m, 1.21gpt/15.0m and 2.24gpt/8.5m)
- 30,000 metre exploration program continuing with two surface drills.
Tony Makuch, president and CEO of Lake Shore Gold, commented:
We are very encouraged by today’s results, our first from the Whitney Project. Whitney was the primary reason we acquired Temex last September, given its considerable exploration potential, existing resources and close proximity to our Bell Creek Mill. This year’s drill program at Whitney is intended to confirm and expand the current resource base (established by Temex) using a model that envisions initial production from an open pit that would ultimately transition to an underground mining operation. With our first group of holes we have already succeeded in extending the high-grade 110 Zone at Hallnor Mine to the west and down dip, and intersected mineralization in the north volcanics that suggests a possible extension of the current near-surface resource to the north and to depth. We have two surface drills operating at Whitney and expect to complete the current exploration program by the end of 2016, with an updated resource to follow.
There Is No Guide to Gold That is More Concise, Clear and Authoritative.
Download our FREE Special Report, Is Gold a Good Investment? Gold Price Today and Future Gold Price Predictions.
The post Lake Shore Gold Releases First Drill Results from Whitney Project appeared first on Investing News Network.