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Weekly UpdatesDarin W. Wagner admits it is kind of cozy exploring a property so close to Lake Shore Gold Corp.'s mine development project.
With only about 800 metres separating the Rusk Gold Zone from Lake Shore's known Timmins West deposit, the two companies have developed a 22,000 metre diamond drilling program to further define Rusk's resource.
Timmins West Mining owns 40 per cent of the property while Lake Shore has a 60 per cent share.
"The Rusk Zone on West Timmins Mining's Thunder Creek Property has the potential to extend much further at depth," Wagner, president and CEO says.
"For the first time, the West Timmins district is not only showing high-grade mineralization, but all the classic hallmarks of all the major mines in the core of the Timmins Camp."
Activity began on the property in the 1920s with Hollinger International completing some surface exploration. It was then sold to Prairie Oil and Gas and Noranda under a joint venture in the 1940s. European-Pressaug Oil Co. drilled four holes in the 1980s then Band-Ore Resources Ltd., now known as Timmins West Mining optioned it off to Hemlo, after acquiring it from its predecessor, then to Lake Shore Gold.
"It was a case of having to drill a little deeper in 2007," says Wagner.
Only 200 metres below surface, the team hit the heart of the Rusk vein intersecting 11.20 g/t gold over 10.40 metres, including a high-grade core of 25.99 g/t gold over 3.00 metres. Its chute like appearance with a mineralization trend that plunges downward toward the northwest is similar to Lake Shore Gold's deposit. Interestingly, Lake Shore's reserves begin 500 metres below surface.
Lake Shore found their reserves first and began developing it before the Rusk Zone was identified. It may have been more economical for both to develop a shaft in the Rusk Zone at 200 feet then tunnel over to Lake Shore's deposit sitting at 500 metres. However, all the infrastructure for mine development is there for West Timmins Mining to utilize.
Wagner says, "It is all about timing."
By June, the team expects to drill 600 metres down and develop either an underground drift or tunnel to Lake Shore's Timmins West shaft through a tendering process depending on the drill assays and economics.
At the same time, Wagner also wants to provide public information on the known resources available.
He doesn't expect to undergo an extensive scoping study since Lake Shore has already gone through the process with their 100 per cent owned property.
The company has just undergone a private placement at the end of last quarter resulting in (Cdn) $2 million proceeds for exploration and working capital. It is not looking for another larger miner to help with the next stages. The fact is "we are both happy with the current situation."
The property is located 18 kilometres southeast of Timmins on Hwy 144 immediately south of the Lake Shore's Timmins West deposit.
The West Timmins Mining Board of Governors is a powerhouse of mining and financially seasoned businessmen including Mike Jones, president of Platinum Group Metals, the engineer/geologist who co-discovered Golden Glitter or what is now called Black Fox Mine, owned by Apollo Gold.
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Peter Crossgrove is a savvy entrepreneur who began Masonite International Corp. and is with Barrick Gold's Board of Governors. Thor Eaton, a philanthropist who belongs to the Eaton Family of Canada, is a director and Wayne O'Connor, whose wise council has been sought for 20 years in the industry is West Timmins chairman. Darin Wagner spent 22 years with Cominco in North and South America working on numerous platinum group metal programs as a geologist and is now president and CEO of West Timmins Mining Inc.
West Timmins Mining Inc.
Darin W. Wagner, President
TSX Ventures symbol: WTM
52 week high: 0.92
52 week low: 0.13
Active Projects: River Gold claim
Rusk Gold Zone, New Mexico projects
www.westtimminsmining.com
By KELLY LOUISEIZE
Northern Ontario Business
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