Wesdome Gold Mines Ltd. (TSX: WDO) is pleased to announce further encouraging drill results and initial drifting results from its ongoing 7 Zone exploration target at its wholly-owned Eagle River Mine, Wawa, Ontario.
Initial encouraging drill results from 11 drill holes (900-E-74 to 900-E-84) were released February 23, 2016. This press release provides results from 15 new underground drill holes (900-E-85 to 900-E-100) and initial findings from the surface drill program. The 7 Zone has now been traced 200 metres (‘m”) up-plunge from existing reserves to the 840 m level and continues to remain open towards surface. (Figure 1).
DRILLING HIGHLIGHTS (see Table 1)
- Hole 900-E-87 28.58 gAu/t over 1.50 m true width
- Hole 900-E-90 13.35 gAu/t over 2.18 m true width
- Hole 900-E-92 55.50 gAu/t over 1.57 m true width
- Hole 900-E-100 6.85 gAu/t over 1.51 m true width
Initial drifting on the 890 m level has confirmed continuity and strong grades along the extended 7 Zone.
890 M LEVEL DRIFT HIGHLIGHTS (see Figure 1)
- Length: 42.0 m
- 33.15 gAu/tonne (“gAu/t”) uncut
- 11.26 gAu/t (cut to 60 gAu/t)
- Average width: 1.5 m
Rolly Uloth, President and CEO commented “This zone continues to remain open towards surface and below the existing reserves. Initial drifting has open up the zone at 890 metres demonstrating continuity and strong grades. We will open up a second drift at 945 metres depth this summer and start mining. An underground drill has been moved to the 350 metre level to continue tracing this zone upwards. The objective of the surface drill program is to confirm structure. Results indicate that the surface vein is continuous and well-developed with assays to date returning lower grades.”
Initial surface drilling, which commenced March 1, 2016, has traced the No. 7 Zone quartz vein from the surface showing to a depth of 150 m. Although the vein and structure is continuous, results to date are subeconomic, with the best sections returning 2.24 gAu/t over 0.9 m corelength and 2.44 gAu/t over 0.3 m corelength (Figure 2). Similar grades in the vein exist adjacent to existing reserve and mining blocks.
The Company is developing and exploring two new parallel zones, the No. 7 and 300, located 200 m and 400 m north, respectively, of the main structure that has supported production of greater than 1.0 million ounces of gold over the last 20 years. Initial production from the 300 Zone commenced last summer.
Drilling in early 2016 (Press Release dated February 23, 2016) extended an existing deep reserve block upwards enabling us to advance future production from the 7 Zone. The Company’s goal is to have all three structures in commercial production as soon as possible.
The technical disclosure in this press release has been compiled and reviewed by George N. Mannard, PGeo., VP Exploration of Wesdome and “Qualified Person” as defined by National Instrument 43-101 disclosure standards. Assaying is performed at the Eagle River Mine Assay office by fire assay methods on 25 gram aliquots. QA/QC protocols involve regular lab duplicates and replicates, standards and blanks.
Wesdome Gold Mines Ltd. is in its 28th year of continuous gold mining operations in Canada. The Company is currently producing gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River and Mishi gold mines. Wesdome’s goal is to expand current operations at both mines over the next four years through mill expansion and exploration. Wesdome has significant upside through ownership of its two other properties, the Kiena Mine Complex and exploration properties in Val d’Or, Quebec and the Moss Lake gold deposit located 100 kilometres west of Thunder Bay, Ontario. These assets are being explored and evaluated to be developed in the appropriate gold price environment. The Company has approximately 129 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.