A nice bump for Lake Shore Gold after ore reserve increase – Mining.com

March 12, 2015

Lake Shore Gold (TSX:LSG) is up 4.21% to 99 cents a share after announcing a 29% increase in its ore reserves today at its Timmins West and Bell Creek operations.

The northern Ontario miner says total reserves are now 773,300 ounces, up from 598,800 ounces a year ago.

Reserves at Timmins West Mine grew 4% to 509,700 ounces (3,691,000 tonnes at an average grade of 4.3 grams per tonne) from the previous estimate of 492,200 ounces (3,332,000 tonnes at an average grade of 4.6 grams per tonne). Reserves at Bell Creek Mine more than doubled from the previous estimate, increasing to 263,600 ounces (1,792,000 tonnes at an average grade of 4.6 grams per tonne) from 106,600 ounces (706,900 tonnes at an average grade of 4.7 grams per tonne). The strong growth in reserves at Bell Creek Mine significantly extends the mine’s reserve life and also provides the Company with an opportunity to increase production going forward

Read More: http://www.mining.com/a-nice-bump-for-lakeshore-gold-after-ore-reserve-rise/