Wesdome Gold Mines Ltd. - Eagle River Operations Update
TORONTO, Sept. 5, 2013 /CNW/ - On Sunday, September 1, 2013, a lightning strike hit the Company's main electrical transformer at the Eagle River mining and milling complex located 50 km due west of Wawa, Ontario.
Backup diesel generators are sufficient to maintain limited services only. A replacement transformer and backup transformer have been sourced and full service is expected to be restored in approximately 2 weeks.
Rolly Uloth, CEO stated "It's unfortunate as we were making good progress increasing mill efficiency. Throughput had been up about 50% so far in the third quarter, compared to the average in the first half. For the months of July and August, Eagle River operations produced approximately 7,800 ounces of gold. We will assess our options and flexibility to attain annual production guidance and report accordingly."
Wesdome is in its 26th year of continuous mining operations in Canada. It currently has two producing gold mines in Wawa, Ontario and owns the Kiena Complex in Val d'Or, Québec. The Company has 101.8 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".
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.
SOURCE Wesdome Gold Mines Ltd.For further information:
President & CEO
416-360-3743 ext 25
Philip Ng, P.Eng.
Chief Operating Officer
416-360-3743 ext 23
George Mannard, P.Geo.
Vice President, Exploration
416-360-3743 ext 22