Lake Shore Gold Corp.
TSX VENTURE : LSG

Lake Shore Gold Corp.

November 04, 2005 08:30 ET

Lake Shore Gold Intersects 24.35 Metres Grading 9.28 Grams Per Tonne Gold, Timmins West Gold Project, Ontario

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 4, 2005) - Lake Shore Gold Corp. (TSX VENTURE:LSG) announced today that the latest sectional drilling results continue to expand the resource on the Company's 100% owned Timmins West Gold Property. Drilling completed on section 4500E, and infill drilling of branch holes on sections 4550E, 4450E, and on hole TG05-72a, the second of two holes drilled across the plunge of the ultramafic host, report high-grade intersections over significant widths, and further confirm the continuity and predictability of the mineralized zones down plunge. Core intersection highlights within the Ultramafic Zone include 9.28 grams gold per tonne (g/t Au) (cut) over 24.35 metres, including 17.76 g/t Au (cut) over 6.80 metres, with another hole returning 6.50 g/t Au (cut) over 8.75 metres, and a third hole returning 4.55 g/t Au (cut) over 10.40 metres, including 24.79 g/t Au (cut) over 1.50 metres.

Assay results confirm that the Ultramafic Zone and Footwall Zone mineralized envelopes maintain their consistent wide widths, strong alteration, and veining between previously drilled sections, and include 3.91 g/t Au (uncut) over a core length of 46.00 metres in hole TG05-72a, 7.87 g/t Au (uncut) over a core length of 33.60 metres in hole TG05-74c, and 2.04 g/t Au (uncut) over a core length of 34.20 metres in hole TG05-77b.

Five drills are currently in operation on the Property, four focused on sectional drilling with a fifth testing the Main Zone and Vein zones down plunge to the west and stratigraphy northeast of the main Timmins West deposit. The vein zones have been tested intermittently to a depth of approximately 400 metres, and remain open down plunge to the west. New targets will also be tested as part of the current program.

Timmins West Gold Resource Expansion Drilling

In a news release dated May 30, 2005, the Company reported results that confirmed the Ultramafic and Footwall mineralization extends an additional 450 metres (down plunge) past the current indicated resource. Subsequent resource drilling, as initially reported in the Company's August 15, 2005 news release, has concentrated on infilling this 450 metre section and the deposit remains open down plunge beyond the area of current drilling.

To the end of June 2005, the upper portion of section 4350E, the deepest and western most section, was completed, drilling continued on section 4500E, and infill drilling was initiated on sections 4550E and 4450E. Each section consists of two pilot holes and a series of branch holes targeting the down plunge continuation of the Footwall and Ultramafic zones. This sectional drilling will infill the previous sections at approximately 50 metres intervals and extend the indicated resource an additional 250 metres down plunge from section 4600E, the deepest section used in the previous resource calculation.

Results are reported for four branch holes on Section 4550E, a 50 metre step out to the west of section 4600E. Holes TG05-74a, -74b, and -74c successfully targeted the lower portion of the section, while TG05-77b was completed on the middle portion of the section. Drill holes TG05-77c and TG05-77d, wedge holes branched up off hole TG05-77b, are completed and assays pending,
while TG05-77e is still in progress. Pilot hole TG05-88 is targeting the top portion of the section and is still in progress.

Eight branch holes have been completed on Section 4500E, of which results from seven of the holes have been previously released (see news release dated May 30, 2005 and August 15, 2005). Hole TG05-64d, branched down off TG05-64c, represents a deep cut on this section intersecting narrow Ultramafic Zone-style and Deep Zone-style mineralization, returning no significant assays. Holes TG05-64e and -64f (attempts to wedge down off TG05-64d) were abandoned due to excessive deviation and drilling complications.

Two pilot holes were drilled on Section 4450E. Hole TG05-64g successfully intersected the upper portion of the section (assays pending) while upper branch hole TG05-64h is still in progress. The lower pilot hole (TG05-75) has been completed and assays are pending, while drilling of an up wedge hole off it (TG05-75a) is in progress.

Seven holes have been drilled with the exploration drill with one currently in progress targeting the ultramafic below the deposit. To date, exploration drilling has targeted various structures and tested stratigraphy northeast of the Main Showing, as well as under the showing. Results are in for five of the holes with no significant assays to report, while two other holes have assays pending.

An updated composite longitudinal section of the Timmins West Gold Deposit and a plan map of the deposit projected to surface are posted on the Company's web site.



---------------------------------------------------------------------
Gold (grams
Intersection per tonne)
---------------------------------------------------------------------
Length
Hole Sect- From To (i) Cut
No. ion (metres) (metres) (metres) (ii) Uncut Zone
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TG05-72a 4650E 618.20 664.20 46.00 2.11 3.91 UM Zone
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including 626.00 657.00 31.00 3.06 5.72
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including 634.45 643.20 8.75 6.50 15.93
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including 634.45 636.00 1.55 21.39 74.62
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845.00 860.15 15.15 3.37 3.37 UM Zone
---------------------------------------------------------------------
including 845.00 847.60 2.60 13.45 13.45
---------------------------------------------------------------------
TG05-74a 4550E 1062.55 1063.35 0.80 9.53 9.53 UM Zone
---------------------------------------------------------------------
TG05-74b 4550E 912.60 913.65 1.05 20.13 26.01 Footwall
Zone
---------------------------------------------------------------------
930.90 932.35 1.45 12.72 27.77 Footwall
Zone
---------------------------------------------------------------------
998.40 999.70 1.30 6.18 6.18 Footwall
Zone
---------------------------------------------------------------------
1064.70 1077.15 12.45 3.52 3.52 UM Zone
---------------------------------------------------------------------
including 1065.10 1066.40 1.30 15.96 15.96
---------------------------------------------------------------------
including 1073.80 1075.90 2.10 7.67 7.67
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1115.75 1116.15 0.40 8.18 8.18 Deep
Sediment
Zone
---------------------------------------------------------------------
TG05-74c 4550E 913.90 914.30 0.40 13.35 13.35 Footwall
Zone
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954.00 954.80 0.80 13.19 13.19 Footwall
Zone
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1016.00 1024.25 8.25 3.47 3.47 Footwall
Zone
---------------------------------------------------------------------
including 1016.00 1017.60 1.60 11.55 11.55
---------------------------------------------------------------------
1043.60 1077.20 33.60 6.91 7.87 UM Zone
---------------------------------------------------------------------
including 1049.15 1073.50 24.35 9.28 10.61
---------------------------------------------------------------------
including 1051.00 1054.70 3.70 6.13 6.13
---------------------------------------------------------------------
including 1056.40 1059.00 2.60 11.21 11.21
---------------------------------------------------------------------
including 1062.75 1069.55 6.80 17.76 17.76
---------------------------------------------------------------------
including 1071.20 1073.50 2.30 17.17 31.16
---------------------------------------------------------------------
1137.00 1140.05 3.05 5.45 5.45 UM Zone
---------------------------------------------------------------------
including 1138.30 1139.45 1.15 11.57 11.57
---------------------------------------------------------------------
TG05-77b 4550E 918.15 921.50 3.35 5.27 5.62 Footwall
Zone
---------------------------------------------------------------------
1042.85 1077.05 34.20 1.70 2.04 UM Zone
---------------------------------------------------------------------
including 1050.00 1060.40 10.40 4.45 5.55
---------------------------------------------------------------------
including 1055.30 1060.40 5.10 7.87 10.11
---------------------------------------------------------------------
including 1058.90 1060.40 1.50 24.79 32.41
---------------------------------------------------------------------
including 1075.00 1076.10 1.10 6.48 6.48
---------------------------------------------------------------------
TG05-77c 4550E hole completed - assays pending
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TG05-77d 4550E hole completed - assays pending
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TG05-64d 4500E hole completed - no significant results
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TG05-64g 4450E hole completed - assays pending
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TG05-75 4450E hole completed - assays pending
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(i) Interval reported is core length.
(i) All Footwall assays cut to 30 grams gold per tonne and Ultramafic
assays cut to 50 grams gold per tonne.


Drilling is currently in progress on the following holes: TG05-77e (Section 4550E), TG05-88 (Section 4550E), TG05-64h (Section 4450E), and TG05-75a (Section 4450E). Due to excessive borehole deviation and/or drilling complications the following holes were abandoned: TG05-73, 74, 76, 77, 77a, 85, 86, 87, 64e and 64f.

Timmins West Gold Project Pre-Feasibility Study Update

Work continues to advance the Timmins West Gold Deposit pre-feasibility study (see news release dated January 6, 2005) as metallurgical test work and process design are nearing completion by RPC (a full service environmental and test work centre located in Fredericton, New Brunswick). Golder Associates Ltd. has significantly advanced the mine tailings design with the selection of paste tailings for backfill and storage, while tailings site selection is nearing completion. Environmental assessment studies and permitting are also being overseen by Golder Associates Ltd. Lake Shore has recently completed an updated deposit model, while McIntosh Engineering has been retained to carry out mine planning studies. It is anticipated that the study will be completed early in 2006. Preliminary engineering estimates for mining and milling costs are considerably better than expected and support a lowering of the resource cutoff grade (currently using 6 grams gold per tonne).

The exploration program is being supervised by Dr. Michael J. Byron, P.Geo, the Qualified Person for the Company.

Lake Shore Gold is exploring for gold and base metals in the Archean Superior Province of Ontario and Quebec. The Company has a strong treasury and is debt free.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporation's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Lake Shore Gold Corp.
    Daniel G. Innes
    Chairman
    (604) 669-3533
    (604) 688-5175 (FAX)
    or
    Lake Shore Gold Corp.
    Brian R. Booth
    President
    (705) 525-0992
    (705) 525-7701 (FAX)
    or
    Lake Shore Gold Corp.
    Dr. Michael J. Byron
    VP, Exploration
    (705) 525-0992
    (705) 525-7701 (FAX)
    info@lsgold.com
    www.lsgold.com