Lake Shore Gold Corp TSX:LSG announced a new reserve estimate for its Timmins West Mine in Ontario. The mine now has probable reserves of 4.92 million tonnes grading 5.76 g/t for 823,848 ounces gold.
President/CEO Tony Makuch said, “For an underground mine early in its operating life, 3 to 5 years of reserves is a reasonable and appropriate level. We are very pleased that we have achieved the high end of that range with our new reserve at Timmins West Mine. Our intention is to complete the required drilling and other work to continue to build both our reserves and resources in order to maintain an ongoing 3- to 5-year reserve life. We are also pleased with the conversion rate of indicated resources into reserves and are encouraged that our average grade matches very closely to the grade used in our preliminary economic assessment.”
or Mark Utting
VP Investor Relations
by Ted Niles