Q3 combined production at the Eagle River Complex was 15,667 ounces, a 29% increase over 12,147 ounces in the second quarter. Eagle River Underground Mine ore milled during Q3 was 42,617 tonnes at a head grade of 10.07 grams per tonne (“gpt”) to produce 13,193 ounces of gold. At the Mishi Open Pit Mine, ore milled was 37,660 tonnes at a head grade of 2.33 gpt to produce 2,474 ounces of gold. The Eagle River mill averaged 873 tonnes per day for Q3 with mill recoveries at 95.6% for Eagle and 87.7% for Mishi, a 2% improvement in recoveries over Q2.
Gold sales were 15,825 ounces at an average sales price of CAD$1,740 (USD$1,338) per ounce for revenue of CAD$27.5 M.
Mr. Duncan Middlemiss, President and CEO commented, “The strategy to re-sequence underground development to ensure a better production grade profile going forward at the Eagle River Mine is yielding positive results, demonstrated by improved grades and ounces produced during this quarter. The 811, 7, and 300 Zones were all in the development and production cycle, and this is expected to continue into the fourth quarter. Significant improvements were achieved at the Mishi Open Pit, with head grades improving to 3.93 g/t in September, from 1.37 g/t in July and August. We will continue to focus on meeting our underground development objectives at the Eagle River Mine, concurrent with targeted exploration close to existing infrastructure. I am also very pleased to congratulate the team on our safety record of three years with no lost time incidents.”
The contents of this press release have been compiled and reviewed by Philip Ng PEng., Chief Operating Officer of Wesdome and “Qualified Person” as defined by National Instrument 43-101 disclosure standards.
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 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 130 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.