Timmins Gold Project
Highlights
- December 1, 2009 - As of December 1, 2009, the Timmins Mine shaft had been sunk to about 670 metres, development from 650 Level intersected ore in Ultramafic Zone with approximately 10,000 tonnes having been stockpiled, and the Timmins Mine ramp had advanced 1,370 metres (200 metre vertical depth).
- On October 29, 2009 - Underground drilling at Timmins Mine confirms previous drilling and expands resource potential, intercepts include 13.26 gpt over 12.70 m and 52.89 gpt over 5.75 m.
- August 24, 2009 - Underground drilling from 525 and 650 levels confirms grades and widths from previous surface drill programs at much closer spaced intervals, with two holes intersecting high-grade mineralization outside of the known resource.
| Timmins Mine (Oct. 2009 NI-101 Report) (3.9MB PDF) |
Tonnes | Grade (g/t) | Contained Gold (ozs.) |
|---|---|---|---|
| Probable reserves | 3,400,000 | 7.52 | 812,000 |
| Indicated resources (1)(2) | 3,200,000 | 8.56 | 893,000 |
| Inferred resources | 890,000 | 5.74 | 165,000 |
(2) Based on sensitivity analysis using an uncut grade of 12.24 gpt, indicated resources totaled 1,278,000 ounces
With a probable reserve of, 0.81 million ounces, and the potential for more, the Timmins project (formerly called Timmins West) is well positioned to become the Company´s first producing property.
Lake Shore Gold acquired the Timmins Mine project (formerly Timmins West) in 2003 through the acquisition of Holmer Gold Mines Limited. Timmins is located at the west end of the Timmins gold mining district, 18 kilometres west of the city and 42 kilometres by road from the Bell Creek Mill, where ore from the Timmins project ore will be treated. The Timmins property consists of a contiguous block of 23 claims (12 leased claims, which are grouped into two 21-year leases and 11 individual patented claims) covering approximately 395 hectares. One claim is subject to a royalty (not related to location of existing reserve). All 23 claims cover both mining and surface rights.
The Company is currently carrying out an advanced exploration program for delineation of bulk sampling of the Footwall, Ultramafic and Main Zones of the property, along with supporting an underground diamond drilling program to both expand the currently identified probable reserve and identify new resources. This work involves sinking a shaft and collaring the 200 metre, 400 metre, 525 metre and 650 metre levels. The shaft sinking surface plant was completed during the second quarter of 2008 and hoist commissioning was completed in July. The shaft sinking program commenced on July 31st and had advanced to the 670 metre level as of September 1, 2009. The shaft reached the 650 Level as of mid-May, with work since then focused on first completing the 650 shaft station and then developing from the station to ore in the Ultramafic Zone, which contains close to 60% of the known reserve. Lateral development work reached the Ultramafic Zone as of the end of August, with bulk sampling now underway. The Company expects to sink the shaft to the 710 metre level by the end of 2009.
Initial development ore from the Timmins Mine is coming from a surface ramp being driven to access ore from above the 400 metre level. Ramp development began in early September 2008 with the ramp having advanced approximately 1,370 metres (200 metre vertical depth) as of September 30, 2009. The Company commenced processing material mined from development and advanced exploration work from the ramp near the end of March 2009.
Lake Shore Gold´s Qualified Person (“QP”) for the Timmins property, as defined by National Instrument 43-101, is Jacques Samson, P. Geo. As the QP, he has prepared or supervised the preparation of the scientific or technical information for the property.
October 2009 Technical Report (3.9MB PDF)
October 2007 Technical Report (3.6MB PDF)
