Wesdome Announces Ongoing Drilling of Kiena Deep A Zone and Returns 141.4 g/t Gold Over 13.2 Metres

2019-12-10 / @nasdaq

 

TORONTO, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces additional results from the ongoing underground definition and exploration drilling at its 100% owned Kiena Mine Complex, in Val d'Or, Quebec.

Four drills continue to operate on the 105 Level (1050 metre level) exploration ramp completing the infill and immediate plunge extension drilling of the Kiena Deep A Zone. This drilling has continued to confirm the overall continuity of the geometry and the high grade gold mineralization of the Kiena Deep A Zone and identifying additional mineralization outside of the current resource estimate. Recent drilling, including hole 6580 and its wedge hole 6580A, intersected 8 metres core length of quartz veining and visible gold mineralization an additional 50 and 20 metres, respectively, down plunge of the A Zone that now extends over 770 metres (see Figure 1 and Photographs 1 & 2). Assay results from these holes are pending.  This continued drilling will be used to update the mineral resources in 2020.

Highlights of the new drilling are listed below and summarized in Table 1. Approximate mineralized locations depicted in Figure 1.

Kiena Deep A Zone  

  • Hole 6486: 141.4 g/t Au over 13.2 m core length (23.0 g/t Au cut, 13.2 m true width)
  • Hole 6545: 185.8 g/t Au over 3.1 m core length (29.3 g/t Au cut, 2.4 m true width)
  • Hole 6559: 70.9 g/t Au over 6.9 m core length (39.9 g/t Au cut, 4.5 m true width)  
  • Hole 6568: 33.5 g/t Au over 10.5 m core length (15.5 g/t Au cut, 6.5 m true width)

All assays cut to 90.0 g/t Au. True widths are estimated.

Mr. Duncan Middlemiss, President and CEO commented, “We are extremely pleased with the recent drilling results that continue to illustrate the high grade nature and continuity of the A Zone, especially as we assess the potential restart of the operation with the ongoing PEA study that is expected to be completed in H1 2020.”

“Additionally, the 79 Level drift will be completed at the end of the month and will provide an optimal platform to test the up plunge extension of the A Zone and ultimately will be used for production at a later date as it connects the Upper A Zone and Lower VC Zones to the main shaft. Any additional resources found in this area could greatly enhance the project restart time and initial capital investment.”

Meanwhile a 5th drill is located on the 67 Level and continues to return high grade intersections down dip of the VC zones. Earlier in the year, a number of significant drill intersections were returned from this area, including 31.1 g/t Au over 5.1 metres.

Highlights of the new drilling are listed below and summarized in Table 1.

VC Zone

  • Hole 6548: 30.4 g/t Au over 2.0 m core length (30.4 g/t Au cut, 1.7 m true width)
  • Hole 6556: 17.4 g/t Au over 3.0 m core length (17.4 g/t Au cut, 2.2 m true width)
  • Hole 6586: 12.7 g/t Au over 6.0 m core length (12.7 g/t Au cut, 5.0 m true width)  

All assays cut to 90.0 g/t Au. True widths are estimated.

The drilling of the potential up plunge extension of the Kiena Deep A Zone will commence shortly and be completed using the 79 Level drift. Development of 79 Level commenced in August and the planned 590 metres of development will be completed by the end of the month. This development will provide the necessary drill platforms to better define the up plunge of the A Zone and also to improve our understanding of where the transition occurs between the VC zones more sulfide rich gold mineralization to the quartz veining with visible gold style of mineralization in the Kiena Deep A Zone. It is currently interpreted that A Zone is folded as it extends up plunge to intersect the VC1 and VC6 zones. Two additional drills, for a total of seven drills at site, have been ordered and the first drill is being mobilized and expected to be underground by the end of this week. See Figure 1 showing the area to be tested from 79 Level in Q1 2020.

TECHNICAL DISCLOSURE

The technical and geoscientific content of this release has been compiled, reviewed and approved by Bruno Turcotte, P.Geo., (OGQ #453) Senior Project Geologist of the Company and a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

Analytical work was performed by ALS Minerals of Val-d’Or (Quebec), a certified commercial laboratory (Accredited Lab #689). Sample preparation was done at ALS Minerals in Val d'Or (Quebec).  Assaying was done by fire assay methods with an atomic absorption finish. Any sample assaying >3 g/t Au was rerun by fire assay method with gravimetric finish, and any sample assaying >10 g/t Au was rerun with the metallic sieve method.  In addition to laboratory internal duplicates, standards and blanks, the geology department inserts blind duplicates, standards and blanks into the sample stream at a frequency of one in twenty to monitor quality control.

ABOUT WESDOME
Wesdome Gold Mines has had over 30 years of continuous gold mining operations in Canada.  The Company is 100% Canadian focused with a pipeline of projects in various stages of development.  The Company’s strategy is to build Canada’s next intermediate gold producer, producing 200,000+ ounces from two mines in Ontario and Quebec.  The Eagle River Complex in Wawa, Ontario is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill.  Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d’Or, Quebec.  The Kiena Complex is a fully permitted former mine with a 930-metre shaft and 2,000 tonne-per-day mill.  The Company has further upside at its Moss Lake gold deposit, located 100 kilometres west of Thunder Bay, Ontario.  The Company has approximately 137.9 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.

For further information, please contact:

Duncan Middlemissor                         Lindsay Carpenter Dunlop
President and CEO VP Investor Relations
416-360-3743  ext. 2029 416-360-3743  ext. 2025
duncan.middlemiss@wesdome.com  lindsay.dunlop@wesdome.com 
   
220 Bay St, Suite 1200  
Toronto, ON, M5J2W4  
Toll Free: 1-866-4-WDO-TSX  
Phone: 416-360-3743, Fax: 416-360-7620  
Website: www.wesdome.com  

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management’s estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company has included in this news release certain non-IFRS performance measures, including, but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced.  These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow

Table 1: Kiena Complex Drilling Assay and Composite Results

Composites

Hole No.From (m)To (m)Core Length (m)Estimated True width (m)Grade (g/t Au)Cut Grade (90 g/t Au)Zone
6486*55.869.013.213.2141.4422.95A Zone
648679.985.65.75.736.3232.28A1 Zone
648759.064.05.04.524.7624.76A Zone
648863.268.75.54.58.238.23A Zone
6499150.0154.64.63.74.514.51A Zone
6502220.4225.85.42.736.2118.25A1 Zone
6502249.4254.45.03.85.105.10A2 Zone
6503199.9205.35.44.017.3113.79A Zone
6503208.7212.33.62.511.3011.30A1 Zone
6504191.3196.14.82.532.8926.70A Zone
6504202.3206.34.02.86.636.63A1 Zone
6507481.2483.82.61.319.0119.01A2 Zone
6509426.0428.02.01.089.1345.13A1 Zone
6520573.0574.41.40.754.3632.22A1 Zone
6520A334.9338.94.01.94.454.45A2 Zone
6538241.4244.63.22.010.0210.02A Zone
6539216.4226.410.05.67.967.96A Zone
6540227.3235.58.26.824.8919.28A Zone
6540243.3250.37.05.88.148.14A1 Zone
6541252.0254.02.01.4110.0845.08A Zone
6542215.0221.06.03.477.2818.78A Zone
6543233.7237.74.02.05.905.90A Zone
6545*255.9259.03.12.4185.7929.34A Zone
6545*281.0285.04.03.143.1726.04A1 Zone
6548427.5431.54.03.06.206.20VC1 Zone
6548470.5472.52.01.730.4330.43VC1 Zone
6549298.5316.518.07.76.436.43A Zone
6550304.2306.01.81.085.9125.63A Zone
6550317.6320.63.02.020.8520.85A1 Zone
6552326.7335.18.46.028.8928.89A Zone
6553*336.6341.04.43.016.3516.35A Zone
6553*354.2361.37.14.515.4915.49A1 Zone
6555690.1692.12.01.313.8813.88A1 Zone
6555704.1712.58.45.519.9916.06A2 Zone
6556241.4244.43.02.217.4417.44VC6 Zone
6556486.2489.43.23.06.406.40VC1 Zone
655967.674.56.94.570.8739.87A Zone
6559112.6116.33.72.49.179.17A2 Zone
656068.477.49.06.08.978.97A Zone
656158.261.23.02.044.3444.34A Zone
656885.295.710.56.533.5015.49A Zone
6569A78.887.78.95.518.1914.09A Zone
6586212.0214.62.62.312.2812.28VC6 Zone
6586451.6457.66.05.012.7212.72VC1 Zone
* Metallic Sieve Analysis Pending    

Assays

Hole No.From (m)To (m)Core Length (m)
Grade (g/t Au)		Cut Grade
(90 g/t Au)		Name Zone
648655.856.60.84.824.82A Zone
648656.657.61.00.260.26A Zone
648657.658.61.01000.0090.00A Zone
648658.659.61.0193.0090.00A Zone
648659.660.61.012.6512.65A Zone
648660.661.61.00.100.10A Zone
648661.662.71.10.140.14A Zone
648662.763.81.1591*90.00A Zone
648663.864.60.81.181.18A Zone
648664.665.30.71.261.26A Zone
648665.3660.79.179.17A Zone
648666671.00.070.07A Zone
648667681.00.100.10A Zone
648668691.09.959.95A Zone
       
648679.980.91.01.951.95A1 Zone
648680.981.91.085.7085.70A1 Zone
648681.982.91.00.130.13A1 Zone
648682.983.60.70.030.03A1 Zone
648683.684.61.06.216.21A1 Zone
648684.685.61.0113.0090.00A1 Zone
       
648759601.014.6014.60A Zone
64876060.70.727.5027.50A Zone
648760.761.40.780.8080.80A Zone
648761.4620.61.501.50A Zone
648762631.031.9031.90A Zone
648763641.00.580.58A Zone
       
648863.263.70.587.4087.40A Zone
648863.764.71.00.050.05A Zone
648864.765.71.00.050.05A Zone
648865.766.71.00.010.01A Zone
648866.767.71.00.010.01A Zone
648867.768.71.01.451.45A Zone
       
64991501511.00.290.29A Zone
64991511521.019.0519.05A Zone
6499152152.60.60.050.05A Zone
6499152.6153.61.00.060.06A Zone
6499153.6154.61.01.311.31A Zone
       
6502220.4221.10.71.151.15A1 Zone
6502221.1221.80.70.440.44A1 Zone
6502221.8222.81.0187.0090.00A1 Zone
6502222.8223.81.02.912.91A1 Zone
6502223.8224.81.03.473.47A1 Zone
6502224.8225.81.01.041.04A1 Zone
       
6502249.4250.41.021.8021.80A2 Zone
6502250.4251.41.00.080.08A2 Zone
6502251.4252.41.00.030.03A2 Zone
6502252.4253.41.00.010.01A2 Zone
6502253.4254.41.03.563.56A2 Zone
       
6503199.9200.70.829.7029.70A Zone
6503200.7201.40.70.240.24A Zone
6503201.4202.10.70.360.36A Zone
6503202.1202.80.74.824.82A Zone
6503202.8203.30.5128.0090.00A Zone
6503203.3204.31.00.650.65A Zone
6503204.3205.31.01.271.27A Zone
       
6503208.7209.71.037.6037.60A1 Zone
6503209.7210.40.72.502.50A1 Zone
6503210.4211.10.71.641.64A1 Zone
6503211.1211.70.60.180.18A1 Zone
6503211.7212.30.60.1050.1A1 Zone
       
6504191.3191.90.61.191.19A Zone
6504191.9192.80.90.220.22A Zone
6504192.8193.70.9123.0090.00A Zone
6504194.3195.10.80.800.80A Zone
6504195.1196.11.045.6045.60A Zone
       
6504202.3203.31.00.480.48A1 Zone
6504203.3204.31.00.200.20A1 Zone
6504204.3205.41.12.292.29A1 Zone
6504205.4206.30.925.9025.90A1 Zone
       
6507481.2482.10.90.470.47A2 Zone
6507482.1482.80.719.7019.70A2 Zone
6507482.8483.81.035.2035.20A2 Zone
       
65094264271.0178.0090.00A1 Zone
65094274281.00.260.26A1 Zone
       
6520573573.90.90.120.12A1 Zone
6520573.9574.40.5152.0090.00A1 Zone
       
6520A334.9335.50.62.492.49A2 Zone
6520A335.5336.30.814.1014.10A2 Zone
6520A336.33370.70.650.65A2 Zone
6520A337337.70.71.691.68A2 Zone
6520A337.7338.30.63.043.04A2 Zone
6520A338.3338.90.62.652.65A2 Zone
       
6538241.42420.60.960.96A Zone
6538242242.60.615.4015.40A Zone
6538242.6243.61.021.8021.80A Zone
6538243.6244.61.00.460.46A Zone
       
6539216.4217.41.016.1516.15A Zone
6539217.4218.41.00.030.03A Zone
6539218.4219.41.03.443.44A Zone
6539219.4220.41.00.930.93A Zone
6539220.4221.41.02.192.19A Zone
6539221.4222.41.04.294.29A Zone
6539222.4223.41.00.100.10A Zone
6539223.4224.41.00.030.03A Zone
6539224.4225.41.00.030.03A Zone
6539225.4226.41.052.4052.40A Zone
       
6540227.3228.31.02.922.92A Zone
6540228.3229.31.02.892.89A Zone
6540229.3230.31.00.900.90A Zone
6540230.3231.31.02.252.25A Zone
6540231.3232.31.04.054.05A Zone
6540232.3233.31.014.6514.65A Zone
6540233.3234.31.0136.0090.00A Zone
6540234.3235.31.040.4040.40A Zone
       
6540243.3244.10.81.611.61A1 Zone
6540244.1245.31.227.2027.20A1 Zone
6540245.3246.31.00.060.06A1 Zone
6540246.3247.20.90.770.77A1 Zone
6540247.2248.31.10.070.07A1 Zone
6540248.3249.31.021.0021.00A1 Zone
6540249.3250.31.01.241.24A1 Zone
       
65412522531.0220.0090.00A Zone
65412532541.00.160.16A Zone
       
65422152161.01.261.26A Zone
6542216216.80.80.680.68A Zone
6542216.8217.81.0441.0090.00A Zone
6542217.82191.20.840.84A Zone
65422192201.00.910.91A Zone
65422202211.018.9518.95A Zone
       
6543233.7234.71.05.755.75A Zone
6543234.7235.71.01.101.10A Zone
6543235.7236.71.014.9014.90A Zone
6543236.7237.71.01.831.83A Zone
       
6545255.9256.91.00.620.62A Zone
6545256.9257.91.0575*90.00A Zone
6545257.92591.10.300.30A Zone
       
6545281.0282.01.00.400.40A1 Zone
6545282.0283.01.0158.5*90.00A1 Zone
6545283.0284.01.012.3*12.30A1 Zone
6545284.0285.01.01.471.47A1 Zone
       
6548427.5428.51.03.323.32VC1 Zone
6548428.5429.51.012.5012.50VC1 Zone
6548429.5430.51.05.485.48VC1 Zone
6548430.5431.51.03.503.50VC1 Zone
       
6548470.5471.51.055.5055.50VC1 Zone
6548471.5472.51.05.365.36VC1 Zone
       
6549298.5299.51.024.5024.50A Zone
6549299.5300.51.00.680.68A Zone
6549300.5301.51.00.190.19A Zone
6549301.5302.51.00.380.38A Zone
6549302.5303.51.05.475.47A Zone
6549303.5304.51.00.190.19A Zone
6549304.5305.51.02.102.10A Zone
6549305.5306.51.02.022.02A Zone
6549306.5307.51.00.080.08A Zone
6549307.5308.51.06.856.85A Zone
6549308.5309.51.05.565.56A Zone
6549309.5310.51.00.290.28A Zone
6549310.5311.51.015.9015.90A Zone
6549311.5312.51.02.842.84A Zone
6549312.5313.51.03.773.76A Zone
6549313.5314.51.06.186.18A Zone
6549314.5315.20.741.8041.80A Zone
6549315.2315.70.515.9515.95A Zone
6549315.7316.50.81.811.81A Zone
       
6550304.2304.70.5307.0090.00A Zone
6550304.7305.71.00.480.48A Zone
6550305.7306.60.92.192.19A Zone
       
6550317.6318.61.02.492.49A1 Zone
6550318.6319.61.019.8519.85A1 Zone
6550319.6320.61.040.2040.20A1 Zone
       
6552326.7327.71.030.2*30.20A Zone
6552327.7328.71.071.7*71.70A Zone
6552328.7329.71.028.05*28.05A Zone
6552329.7330.71.02.372.37A Zone
6552330.7331.60.944.9*44.90A Zone
6552331.6332.50.963.5*63.50A Zone
6552332.5333.30.88.838.83A Zone
6552333.33340.70.190.19A Zone
6552334335.11.15.085.08A Zone
       
6553337.7338.81.148.70*48.70A Zone
6553338.8339.91.10.190.19A Zone
6553339.93411.10.170.17A Zone
       
6553354.2355.21.018.95*18.95A1 Zone
6553355.2356.21.00.050.05A1 Zone
6553356.2357.10.90.100.10A1 Zone
6553357.13580.90.100.10A1 Zone
65533583591.00.100.10A1 Zone
65533593601.00.080.08A1 Zone
6553360361.31.369.7*69.70A1 Zone
       
6555690.1691.11.00.350.35A1 Zone
6555691.1692.11.027.4027.40A1 Zone
       
6555704.1705.11.0123.0090.00A2 Zone
6555705.17060.928.7028.70A2 Zone
6555706707.11.10.200.20A2 Zone
6555707.1708.21.10.290.29A2 Zone
6555708.2709.21.01.091.09A2 Zone
6555709.2710.21.00.270.27A2 Zone
6555710.2711.21.00.580.58A2 Zone
6555711.2712.51.312.7512.75A2 Zone
       
6556241.4242.41.04.414.41VC6 Zone
6556242.4243.41.031.4031.40VC6 Zone
6556243.4244.41.016.5016.50VC6 Zone
       
6556486.2487.21.06.016.01VC1 Zone
6556487.2488.41.27.527.52VC1 Zone
6556488.4489.41.05.455.45VC1 Zone
       
655967.668.61.0223.0090.00A Zone
655968.669.61.08.488.48A Zone
655969.670.61.0125.0090.00A Zone
655970.671.61.00.340.34A Zone
655971.672.61.00.630.63A Zone
655972.673.61.04.644.64A Zone
655973.674.50.9141.0090.00A Zone
       
6559112.6113.30.744.9044.90A2 Zone
6559113.3114.31.00.210.21A2 Zone
6559114.3115.31.00.200.20A2 Zone
6559115.3116.31.02.102.10A2 Zone
       
656068.469.41.017.4517.45A Zone
656069.470.41.02.342.34A Zone
656070.471.41.014.2014.20A Zone
656071.472.41.00.430.43A Zone
656072.473.41.031.4031.40A Zone
656073.474.41.02.392.39A Zone
656074.475.41.00.440.44A Zone
656075.476.41.06.806.80A Zone
656076.477.41.05.295.29A Zone
       
656158.259.21.087.5087.50A Zone
656159.260.21.045.3045.30A Zone
656160.261.21.00.220.22A Zone
       
656885.285.70.5128.5090.00A Zone
656885.786.71.01.441.44A Zone
656886.787.91.20.260.26A Zone
656887.989.11.20.390.39A Zone
656889.189.70.6373.0090.00A Zone
656889.790.71.09.609.60A Zone
656890.791.71.00.900.90A Zone
656891.792.71.01.141.14A Zone
656892.793.60.90.290.29A Zone
656893.694.71.143.9043.90A Zone
656894.795.71.01.291.29A Zone
       
6569A78.879.81.0126.5090.00A Zone
6569A79.880.81.011.9011.90A Zone
6569A80.881.81.00.010.01A Zone
6569A81.882.81.00.020.02A Zone
6569A82.883.81.00.020.02A Zone
6569A83.884.81.00.070.07A Zone
6569A84.885.81.00.240.24A Zone
6569A85.886.30.50.520.52A Zone
6569A86.3870.718.1518.15A Zone
6569A8787.70.714.5514.55A Zone
       
6586212213.41.40.940.94VC6 Zone
6586213.4214.61.225.5025.50VC6 Zone
       
6586451.6452.61.06.626.62VC1 Zone
6586452.6453.61.05.545.54VC1 Zone
6586453.6454.61.053.9053.90VC1 Zone
6586454.6455.61.00.040.04VC1 Zone
6586455.6456.61.00.010.01VC1 Zone
6586456.6457.61.010.2010.20VC1 Zone
* Metallic Sieve Analysis Pending   

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Primary Logo

Figure 1

3D View of Kiena Deep A and VC Zones
Picture 1

Hole 6580
Picture 2

Hole 6580

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