As part of its prefeasibility study on the Timmins West gold project, Lake Shore Gold (LSG-T, LSGGF-O) plans to do underground exploration on both Timmins West and the Vogel-Schumacher project.
Lake Shore has been drilling Timmins West to develop a database for a revised resource estimate, scheduled to be out this summer. A 2004 calculation put the indicated size of the deposit at 1.4 million tonnes grading 11 grams gold per tonne, in six zones. Another 200,000 tonnes of inferred material graded 8.7 grams gold per tonne. Uncut grades for both the indicated and the inferred resource were about 50% higher.
Vogel, which has been through the hands of several Timmins, Ont.-area operators over the last decade, has a historic resource figure, predating National Instrument (NI) 43-101, of about 1.5 million tonnes grading 12.7 grams gold per tonne, about two-thirds of it inferred. Glencairn Gold (GGG-T, GLE-X), the most recent vendor, holds a net smelter return royalty on Vogel that tops out at 3%.
The adjoining property, which belonged to the estate of the legendary Timmins mining man, Frederick Schumacher, has a small pre-NI 43-101 resource as well.
Lake Shore said it expected to have permits for underground operations at Timmins West in about four to six months, and that permits for Vogel-Schumacher would take about two to four months longer than that.
Recent infill drilling at Timmins West has shown similar results to earlier work, but have extended the deposit’s Main zone up-plunge from previous intersections. Among the higher-grade intersections were a 4.2-metre interval in the Footwall zone that ran more than 18 grams gold per tonne and a 6-metre interval in the Ultramafic zone that ran over 32 grams per tonne.
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