11 Mar 2016resource reserve update● NeutralMajor
Lake Shore Gold announced updated mineral resource and reserve estimates for its operating mines. It also filed a technical report on the Timmins West Mine.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Feb 2016resource reserve update▲ GoodMajor
Lake Shore Gold announced a first resource estimate for its 144 Gap Zone. It comprised Indicated resources of 1,734,000 t at 5.41 g/t gold and Inferred resources of 1,914,000 t at 5.19 g/t.
4 Feb 2016drilling result▲ GoodMajor
Lake Shore Gold reported results from the first 13 holes (1,600 m) of an exploration programme at its Whitney Project. It said they showed potential to expand the near-surface resource to the west, north and to depth.
28 Oct 2015drilling result▲ GoodMajor
Lake Shore Gold reported results from 60 surface and underground drill holes and 11 wedge cuts, totalling 39,050 metres, at its 144 Gap Zone.
17 Sept 2015drilling result▲ GoodMajor
The first ten underground holes (4,771 m) from the new exploration drift into the 144 Gap returned 7.81 g/t over 10.4 m, 6.29 g/t over 36.8 m, 7.83 g/t over 18.8 m and 10.97 g/t over 14.4 m, with the drift over 90% complete and a first resource still targeted for early 2016.
4 May 2015drilling result▲ GoodMajor
Expanded the 144 Gap drill programme, opened new exploration along the 144 trend to the southwest and added an underground programme at Bell Creek. Management framed it as the turn from stabilising and deleveraging to spending on growth, after debt repayment and cost targets had been met.
27 Apr 2015drilling result▲ GoodMajor
Twenty-two holes and five wedges (29,089 m) took the 144 Gap to 400 m along strike and 400 m of vertical height, with the high-grade core now at least 300 m tall. Intercepts included 11.79 g/t over 21.1 m within a broader 5.74 g/t over 55.0 m, 8.81 g/t over 8.2 m and 8.14 g/t over 15.1 m.
31 Mar 2015resource reserve update● NeutralMajor
Filed an updated Bell Creek reserve at 31 December 2014 of 1,792,295 t grading 4.6 g/t for 263,608 ounces mined to surface, of which 172,228 t at 4.5 g/t is proven, using a US$1,100 gold price and a 0.90 exchange rate.
25 Feb 2015drilling result▲ GoodMajor
Ten holes and a wedge (11,092 m) defined a thick, high-grade core inside the 144 Gap over 250 m of vertical height, 75-100 m wide and 50-75 m along strike, with 5.36 g/t over 47.0 m (including 9.70 g/t over 18.4 m), 4.09 g/t over 56.9 m and, near the northeast limit, 78.44 g/t over 1.9 m.
27 Jan 2015drilling result▲ GoodMajor
Tripled the 144 Gap's minimum strike length, taking the zone to 350 m along strike and 350 m down dip, and pushed mineralisation 200 m northeast to within 500 m of Thunder Creek (3.68 g/t over 18.0 m, 6.56 g/t over 12.4 m, and 100.00 g/t over 0.40 m). Six surface rigs were on site with 90,000 m planned for 2015.
13 Nov 2014drilling result▲ GoodMajor
Four more holes (4,898 m) at the 144 Gap returned 7.18 g/t over 24.0 m including 12.61 g/t over 11.5 m, 5.09 g/t over 24.8 m and 5.92 g/t over 20.7 m, confirming minimum dimensions of 100 m along strike by 250 m down dip. The programme was expanded from 10,000 to 15,000 m with a fourth rig.
22 Oct 2014drilling result▲ Good
Forty-eight holes (13,916 m) at Timmins West confirmed and extended the second fold-nose structure at the Timmins deposit (12.32 g/t over 9.3 m including 27.70 g/t over 3.3 m, and 11.72 g/t over 9.7 m) and found new gold below the resource in the footwall and ultramafic zones, including 38.56 g/t over 3.1 m.
7 Oct 2014drilling result▲ GoodMajor
The first hole of a new 10,000 m surface programme at the 144 Property cut 5.37 g/t over 46.0 m, including 21.87 g/t over 6.0 m and 12.54 g/t over 4.4 m, 770 m southwest of Thunder Creek. It confirmed the mineralisation first found in 2012 drilling, and the zone is reachable from existing Thunder Creek infrastructure.
9 Apr 2014resource reserve update● NeutralMajor
Updated Timmins West reserve of 3,332,164 t at 4.6 g/t for 492,246 ounces - Timmins deposit 227,707 ounces, Thunder Creek 264,539 ounces - with a life-of-mine plan averaging about 2,800 tonnes a day through 2016 and ending in the third quarter of 2017. That is down from the 823,848 ounces first booked in April 2012 after two years of mining, and leaves roughly three and a half years of reserve life ahead of the mine.
26 Mar 2014drilling result▲ Good
Sixteen holes (3,718 m) from the 610 Level at Bell Creek's Labine deposit returned 14.12 g/t over 10.2 m in BC610-865, 8.41 g/t over 12.0 m in BC610-911 and 7.01 g/t over 10.7 m in BC610-863A, and defined two new hanging-wall structures 100 m east of current mining. The revised model pointed to higher grades in narrower structures below the 685 Level.
1 Apr 2013resource reserve update● Neutral
Filed the Bell Creek technical report carrying the updated resource and the mine's first reserve estimate, both announced on 18 March 2013. The release itself restates no figures.
22 Jan 2013drilling result▲ GoodMajor
The 2012 programme of 35 holes and two extensions (27,411 m) found new mineralisation 850 m south of Thunder Creek in the 144 Gap (13.54 g/t over 2.0 m, 6.07 g/t over 3.0 m), doubled the 144 North plunge length to 800 m depth and hit shallow gold at 144 South (14.76 g/t over 3.0 m). The company later dated the 144 Gap discovery to this 2012 drilling.
7 June 2012drilling result▲ Good
Seven holes (1,440 m) extended the Gold River Trend high-grade core 125 m deeper and 120 m west (18.48 g/t over 4.0 m, 4.59 g/t over 2.1 m) and found mineralisation 420 m east of the resource (18.55 g/t over 1.0 m). The core already held 310,900 ounces at 9.81 g/t between 400 and 800 m depth.
22 May 2012resource reserve update● Neutral
Filed the Timmins West prefeasibility and reserve technical report carrying the 823,848-ounce probable reserve first announced on 2 April 2012. Paperwork behind an already-announced number.
3 May 2012drilling result▲ GoodMajor
Twenty-six holes (15,846 m) at Fenn-Gib returned 1.93 g/t over 241.2 m, 1.26 g/t over 324.0 m, 0.89 g/t over 260.5 m and 0.73 g/t over 284.0 m, extended mineralisation up to 200 m below the resource and pushed the Main Zone at least 200 m east. Silver assays averaged 1 to 2 g/t and were not in the resource at all.
10 Apr 2012resource reserve update▲ Good
Two announcements in one filing. First-quarter 2012 output of 16,680 ounces from 160,500 t at 3.40 g/t and 95.1% recovery beat the 15,000-ounce target, with 18,400 ounces sold at US$1,690; full-year guidance of 85,000 to 100,000 ounces was held. The Gold River Trend technical report was also filed, carrying 117,400 ounces indicated at 5.29 g/t and 1,027,800 ounces inferred at 6.06 g/t.
3 Apr 2012resource reserve update▲ GoodMajor
Two announcements in one filing. Bell Creek measured and indicated resources rose more than 150% to 646,431 ounces (4,249,451 t at 4.73 g/t) with 953,845 ounces inferred (6,088,506 t at 4.87 g/t), reflecting roughly 425,000 ounces converted from inferred and 185,000 ounces newly added. And Timmins West got its first reserve: 823,848 ounces probable (4,922,180 t at 5.21 g/t), a 73% conversion of indicated resources and enough for five years of production.
16 Feb 2012resource reserve update▲ GoodMajor
Updated the Timmins West resource to 1,914,000 ounces in total - 1,122,500 ounces indicated (5,826,000 t at 5.99 g/t) and 791,500 ounces inferred at 5.76 g/t - across the Timmins and Thunder Creek deposits, with the Timmins deposit alone at 882,400 ounces. A preliminary economic assessment and first reserve were promised for the quarter.
6 Jan 2012resource reserve update● Neutral
Filed the Fenn-Gib technical report, formalising 1.30 million ounces indicated at 0.99 g/t and 0.75 million ounces inferred at 0.95 g/t. Paperwork behind an already-announced number.
4 Jan 2012resource reserve update● Neutral
Filed the Thunder Creek technical report on SEDAR, formalising the November resource of 521,600 ounces indicated at 5.64 g/t and 510,000 ounces inferred at 5.89 g/t. Paperwork behind an already-announced number.
18 Nov 2011resource reserve update▲ GoodMajor
One filing carried two maiden resources: Thunder Creek at 2,877,000 t grading 5.64 g/t for 521,600 ounces indicated plus 2,693,000 t at 5.89 g/t for 510,000 ounces inferred, and Fenn-Gib at 40.8 Mt grading 0.99 g/t for 1.30 million ounces indicated plus 24.5 Mt at 0.95 g/t for 0.75 million ounces inferred. Fenn-Gib met the 2-million-ounce target set when Barrick sold it about six months earlier.
28 Oct 2011drilling result▲ GoodMajor
Fenn-Gib hole FG-11-04 cut 1.31 g/t gold over 414.0 m, including 1.54 g/t over 264.0 m, and ended in mineralisation 470 m below surface; shallow mineralisation was extended 200 m north. Three twin holes matched or beat the historic results and check sampling of about 200 core halves averaged 1.12 g/t against 0.91 g/t originally, so the inherited data was if anything understated.
30 Aug 2011drilling result▲ Good
Gold River Trend drilling extended mineralisation up to 450 m below the existing resource (4.22 g/t over 16.0 m, 72.84 g/t over 1.6 m including 116.50 g/t over 1.0 m) and 300 m beyond its eastern limit, with the company seeing scope to follow the structure a further 1.8 km east.
16 Aug 2011drilling result▲ Good
Nine holes and 30 wedge holes (22,479 m) at Bell Creek extended gold 400 m below the existing resource - 5.62 g/t over 28.5 m including 10.85 g/t over 11.4 m, and 7.71 g/t over 8.1 m including 12.58 g/t over 4.6 m - and infill drilling continued upgrading inferred material to indicated.
26 July 2011drilling result▲ GoodMajor
Underground and surface drilling at Thunder Creek confirmed and extended mineralization above and below the 730 Level, with 7.57 g/t gold over 108.8 m, 7.01 g/t over 112.7 m, 4.70 g/t over 145.7 m and 10.19 g/t over 55.0 m. A surface hole 500 m southwest returned 8.07 g/t over 2.1 m, pointing to a potential new zone along the TC-144 trend.