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Lake Shore Gold Corp. located in Timmins, Ontario announced its 2015 production goals will be targeted in the range of 170,000 to 180,000 ounces of gold which is similar to the record level of production established in 2014.
Cash operating costs for 2015 are expected to average between US$650 and US$700 per ounce sold, which is slightly lower than the Lake Shore’s guidance in 2014 of US$675 to US$775. All-in sustaining cost per ounce sold in 2015 year is targeted for US$950 to US$1,000, similar to the 2014 target range of US$950 to US$1,050. Total production costs in 2015 are estimated at approximately $125.0 million. Mining grades in 2015 are expected to be slightly lower than in 2014, averaging approximately 4.4 grams per tonne for the year.
Aggressive exploration is planned at Lake Shore’s 144 Gap Zone in the coming year to continue to evaluate the significant gold potential of the discovery area and to define initial resources. Lake Shore will also continue its extensive drill programs at its Timmins Operations, including the Timmins West and Bell Creek mines, with a goal to at least replace the reserves mined during the year.
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