Company set for major expansion of Timmins operations
Lake Shore Gold reported higher commercial production from its Timmins operations and is poised for a bright future.
The Timmins Chamber of Commerce hosted its Inside Their Business Luncheon Thursday at the Days Inn. Guest speaker Dan Gagnon, vice-president and general manager of Lake Shore Gold Corp, discussed key assests in the Timmins area, including the Timmins West Complex, the Bell Creek Mine and Bell Creek Mill.
“I’m grateful to talk about Lake Shore and our operations. I think we have a good story, and I’m always looking forward to sharing it with the community, because we are here to stay,” said Gagnon.
He reported higher commercial production from the company’s 100% owned Timmins Mine in the third quarter of 2011 compared to the first two quarters. Total gold poured year-to-date was more than 60,016 ounces, while gold sales in the third quarter totaled 16,570 ounces at an average price of US$1,726.
“A lot of good things are happening at our operations, and we are here to stay. There is a great future here with all the explorations we’re doing,” said Gagnon.
There has been a lot of drilling at their various operations and Lake Shore is now building mines around those areas. The company is rapidly growing around three major deposits: The Timmins mine, the Thunder Creek mine and the Bell Creek deposit.
“We have great land position with three major deposits nearby,” said Gagnon. “In Janurary 2011, we began commercial production at one of our mines, and in the next couple of years we will put the Thunder Creek and the Bell Creek deposits into production.”
About 25-27 diamond drills are actively drilling in various locations.
“I’ve always talked to the mining people and the people at the operation and what I say to them is, if you’re worried about the future of an operation, start worrying when you don’t see any diamond drills,” said Gagnon.
Lake Shore is aggresively exploring the area in the next several years and the company is finding more gold. The Timmins area has produced 70-million ounces of gold, and there’s a lot more gold to be found, said Gagnon.
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