Re: Possibilities
in response to
by
posted on
Nov 29, 2010 11:07AM
Well, read last report from Thunder Creek:
Positive Drill Results from Thunder Creek
The drill results released yesterday support our view that the Porphyry Zone at Thunder Creek has the potential to contain 3-4 million ounces of gold. With three underground drills and one surface drill actively exploring the property, we expect Lake Shore to release regular drill results as it continues to define the mineralization of Thunder Creek. The initial 43-101 compliant resource estimate is on track for release in H2/2011. Thunder Creek Bulk Mining Potential Could Lower Costs
Drilling to date on the Porphyry Zone has identified a large-scale mineralized
core of a minimum 300m x 125m that remains open in all directions. The
broad, expansive mineralization shows potential for being amenable to bulk underground mining methods. Bulk mining means economies of scale and potential for reduced operating costs. On pages 3 and 4 of this report we compare Thunder Creek to Agnico-Eagle's Goldex Mine in Quebec, where bulk mining is allowing that operation to produce over 150Koz of gold per annum from underground mine reserves of 2.1 g/t at total cash costs of less than $325/oz. With potential for much higher grades at Thunder Creek versus Goldex, if Lake Shore is able to successfully implement bulk mining at Thunder Creek, we can see
potential for costs to drop below $300/oz.
Major Potential Catalysts Imminent
We expect further share price catalysts in the near term, including:
• A positive reception from industry analysts when Lake Shore hosts a site visit
on December 6. This will be the first opportunity for many to view the
mineralization at Thunder Creek from underground and witness the amount of
development that Lake Shore has completed to date.
• The declaration of commercial production at the Timmins Mine by end Q4/10.
• A 43-101 compliant resource estimate for Bell Creek by end Q4/10.
•
Exploration drill results from any of the 21 drills currently active on LSG's
properties, particularly from the rigs set up underground at Thunder Creek. My points are very simple here, LSG needs Probe Mines more than wants to tell us, probably offer is already on the way, as I said 1 LSG share for 1 PRB share, If they want to get Thunder Creek to production then they need all land which means PRB part also and why not to have Borden and other good properties, let see but this buying is not only because of speculation... GLTA!