Wednesday, 29th August 2007 (1942 views)

A pre-feasibility study (PFS) on the Timmins West site for Lake Shore Gold has revealed that the proposed programme is "warranted and achievable".

Lake Shore Gold has a 100 per cent holding in the Ontario, Canada site, with consulting geologists and engineers Watts, Griffis and McOuat Limited (WGM) confident that the proposed exploration programme could take place at the site.

"The PFS proves that Timmins West is positioned to become an excellent project with strong economics under a wide range of gold price assumptions," said Brian Booth, president and chief executive officer of Lake Shore.

Mr Booth added that Timmins West is the firm's "flagship property", with a full feasibility study and a final production decision - expected for early 2009 - the next step.

Lake Shore expects production to begin by July 2009, with the mine having an 11-year life span producing 71,000 ounces of gold annually.

Canada-based Lake Shore began exploring for gold and base metals in Canada in 2002, according to the firm's website.

 

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