Lake Shore Starts Drilling at DeSantis and Continues Drilling at Timmins West, Ontario.VANCOUVER, British Columbia -- Lake Shore Gold Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :LSG LSG Logistic(s) Support Group LSG Lufthansa Service GMBH LSG Little School Girl LSG Life Sciences Glovebox LSG Lunar Surface Gravimeter LSG Lump Sum Grant LSG Local Street Gazetteer LSG Levert Sweat and Gill ) announced today that drilling has commenced on the DeSantis Gold Project, located in the Timmins Gold Camp, Ontario. The first phase program will consist of 5,000 metres of drilling, testing both new targets within the southwestern and northern portions of the property, as defined by the Company's compilation of historical data; and the mine stratigraphy stratigraphy, branch of geology specifically concerned with the arrangement of layered rocks (see stratification). Stratigraphy is based on the law of superposition, which states that in a normal sequence of rock layers the youngest is on top and the oldest on the at depth with the objective of expanding the known resource. One drill is currently in operation and will be followed by a second rig capable of drilling deeper targets underneath the known resource. This drill program is expected to be completed by the end of February 2006. The Desantis Gold Project has a past history of limited underground mining (1930's and 1940's), accessed by two shafts and 752 metres of underground drifting. Historical resource estimates of 129,000 tonnes at 7.51 grams per tonne gold (cut grade; 34,111 ounces gold or 74,768 ounces gold at 16.44 grams per tonne gold, uncut grade) in the Hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. Zone (above 300 metres) and 72,000 tonnes at 6.49 grams per tonne gold (cut grade; 16,356 ounces) in the Albite albite (ăl`bīt): see feldspar. albite Common feldspar mineral, a sodium aluminosilicate (NaAlSi3O8) that occurs most widely in pegmatites and acid igneous rocks such as granites. Zone between 200 and 365 metres depth have been reported for the Property. These resource estimates for the Desantis Property are historic and the Company is not treating the estimates as a National Instrument 43-101 defined resource. The Company has not completed the work necessary to verify the classification of the resource and as such any historic estimates should not be relied upon. Gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. on the Property is associated with highly altered mafic and ultramafic ul·tra·maf·ic adj. Ultrabasic. ultramafic Containing mainly mafic minerals. Used of igneous rocks and often used interchangeably with ultrabasic. Dunite is an ultramafic rock. volcanic rocks of the Tisdale Group intruded by a mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. albite porphyry stock. The style and grade of the DeSantis mineralization is consistent with world-class Archean gold deposits in the Timmins Camp, thus the potential to define additional mineralization along strike and to depth of the known mineralization is considered to be excellent. In February 2005 (see news release dated February 24, 2005) the Company signed an agreement with Explorers Alliance Corporation to earn up to a 70% interest in the DeSantis Gold Property. The Property consists of 22 patented claims and two leased claims covering approximately 665 hectares in Ogden Township, immediately north of the Destor-Porcupine Fault Zone in the western part of the Timmins Gold Camp. Timmins West Gold Property, Bristol Township Sectional drilling continues on the Company's Timmins West Gold Property, Bristol Township. Four rigs are currently in operation drilling sections 4450E and 4550E, while a fifth drill continues testing other targets on the Property. It is expected that both sections will be completed early in the new year. All Timmins area drills will be shut down from December 22 to the first week of January 2006. The exploration programs are 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 no long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. . Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 Company'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. Lake Shore Gold Corp. (TSX:LSG) |
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