Lake Shore Gold Corp. has completed the acquisition of Temex Resources Corp. and has committed to an exploration program on its newly acquired Whitney Project,
“Whitney is very attractive to us given its close proximity to our milling facility, its large, high-grade resource and the attractive exploration targets included within its property position,” said Tony Makuch, president and CEO of Lake Shore Gold. “Whitney provides a very valuable, additional option for Lake Shore Gold as we work towards fully utilizing the processing potential of our Bell Creek Mill and increasing our overall production profile in the Timmins Camp.”
The Whitney Project, a joint venture of Temex and Goldcorp (with Temex as the operator), includes the past producing Hallnor, Broulan Reef and Bonetal mines. Resource estimates include 0.97 million tonnes at a grade of 7.02 grams per tonne for 218,100 ounces of gold in the measured category, 2.3 million tonnes at a grade of 6.77 grams per tonne for 490,500 ounces of gold in the indicated category, and 1.0 million tonnes at a grade of 5.34 grams per tonne for 170,700 ounces of gold in the inferred category.
Temex also owns the Juby Gold Project located in the Shining Tree area of Ontario. Resource estimates at Juby include 26.6 million tonnes at a grade of 1.28 grams per tonne for 1,090,400 ounces in the indicated category and 96.2 million tonnes at a grade of 0.94 grams per tonne in the inferred category.
