Wesdome Gold Mines Ltd. - Drilling expands Mishi potential

TSX: WDO

TORONTO, June 27, 2014 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) is pleased to announce results of recent drilling which have extended the M6 Zone 1,150 metres west of the current pit limit.  Combined with mineralization within and east of the pit, mineralization at shallow depths has now been traced over a length of 1.75 kilometres and remains open in both directions.

  • Definition drilling extends M6 Zone 300m west of pit
    • Average grade 2.12 gAu/tonne
    • Average horizontal width 6.42 m
  • Stepout drilling extends M6 Zone a further 850m west
  • Results prompt resource re-evaluation

The M6 Zone is not included in current resource estimates west of the pit.  It was initially recognized by drilling in 2011 and subsequently demonstrated good continuity in open pit mining operations.  Drilling in 2011 identified near surface values over a 150 metre strikelength as summarized in Table 1 (Press Release dated November 22, 2011, available at www.wesdome.com).

Shallow definition drilling at 25 metre spacing to 75 metres depth demonstrates good continuity immediately west of the pit limit for 300 metres (sections 3400E to 3100E, Table 2).  These results generate a weighted average grade of 2.12 gAu/tonne over an average horizontal width of 6.42 metres.

Further to the west, limited drilling has traced the zone a further 850 metres to section 2250E.  These results are summarized in Table 3.  Although widely-spaced, this drilling suggests continuity of the M6 Zone and the presence of additional zones (Figure 1 available at www.wesdome.com).

GEOLOGICAL CONTEXT

The Mishi gold deposit strikes east-west and dips 40 degrees north.  It is situated within a broad regional deformation zone which follows a volcanic-sedimentary contact within the Mishibishu Greenstone Belt - part of the Archean Wawa-Abitibi subprovince.

The gold is hosted by a series of conformable, tabular, en echelon sericite-ankerite alteration zones which carry disseminated pyrite and include about 10% smokey quartz veinlets and lenses.

IMPLICATIONS

To December 31, 2013, the Mishi deposit has produced 22,713 ounces of gold from 222,946 tonnes at a recovered grade of 3.17 gAu/tonne.

As of December 31, 2013, Proven and Probable Reserves were estimated at 1,592,000 tonnes at 2.2 gAu/tonne (112,000 ounces).  Additional Indicated Resources were estimated 3,688,000 tonnes at 2.1 gAu/tonne or 248,000 contained ounces (Press Release dated February 10, 2014, available at www.wesdome.com).

The Mishi Mine has served historically as a source of low-cost, incremental millfeed for the Eagle River mill located 2 kilometres to the east.  We are in the process of progressively refurbishing and expanding the mill and related infrastructure to bring it up to permitted capacity of 1,200 tonnes/day.

Drilling results to date are confirming mineralization of potential economic merit extends well beyond reserves and resources limits.  The Company intends to update resource models and pit optimization studies in order to assess the merit of expanding operations further.

TECHNICAL DISCLOSURE

The technical disclosure in this press release has been compiled and reviewed by George Mannard, PGeo and Daniel Lapointe, PGeo, Vice President Exploration and Chief Geologist, respectively.  Assaying is performed at the Eagle River Mine assay office by fire assay methods on 25 gram aliquots.

ABOUT WESDOME

Wesdome is in its 28th year of continuous mining operations in Canada.  It currently has two producing gold mines and the 3 million ounce Moss Lake deposit in Wawa, Ontario, and owns the Kiena Mine Complex in Val d'Or, Québec.  The Company has approximately 111.1 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.

Table 1:  Previous Results (3200E - 3350E)

Hole No. Section From To Length (m)* Grade
    (m) (m) (true width) (gAu/tonne)
MW11-12 3350E   5.00   6.50 1.50 7.18
MW11-13 3350E   3.75   6.75 3.00 7.94
MW11-14 3300E 11.80 13.25 1.45 1.74
MW11-15 3300E 14.15 15.25 1.10 3.72
MW11-17 3250E   6.00 15.25 9.25 1.87
MW11-18 3250E 11.10 16.45 5.35 3.41
MW11-20 3200E   9.60 14.00 4.40 4.92
MW11-21 3200E 10.20 18.05 7.85 2.56

* Corelengths approximate true widths

Table 2:  New Definition Results (3100E - 3400E)

DDH Section From To Core length Horizontal Width True Width Grade
        (m) (m) (m)  
MW13-01 3400E 14.6 16.5 1.9 2.61 1.68 1.463
MW13-02 3350E 25.2 27.4 2.2 2.95 1.90 10.755
MW13-03 3350E 48.8 50.6 1.8 2.55 1.64 5.960
MW13-04 3325E 15.6 16.0 0.4 0.57 0.36 1.440
MW13-05 3325E 14.2 16.5 2.3 3.18 2.04 1.610
MW13-06 3325E 30.7 40.8 10.1 13.99 9.00 1.028
  Incl 30.7 33.7 3.0 4.16 2.67 1.747
  Incl 38.0 40.8 2.8 3.88 2.49 1.703
MW13-07 3325E 56.9 57.2 0.3 0.41 0.27 2.720
MW13-08 3300E 32.5 34.1 1.6 2.25 1.45 6.765
MW13-09 3300E 58.1 61.9 3.8 5.19 4.36 0.659
MW13-10 3300E 92.1 97.0 4.9 6.63 4.26 0.730
MW13-11 3275E   7.9   9.9 2.0 2.48 1.60 2.740
    24.0 25.0 1.0 1.37 0.88 1.400
MW13-12 3275E 22.4 25.4 3.0 4.24 2.72 3.653
MW13-13 3275E 44.4 51.5 7.1 9.75 6.27 2.412
MW13-14 3275E 62.3 68.0 5.7 2.39 1.54 0.861
MW13-15 3250E 43.6 46.7 3.1 4.33 2.78 5.492
MW13-16 3250E 61.5 66.0 4.5 6.12 3.93 3.938
MW13-17 3250E 76.8 81.6 4.8 6.70 4.31 2.022
MW13-18 3225E 13.6 17.7 4.1 5.65 3.63 2.662
MW13-19 3225E 44.0 47.8 3.8 5.25 3.38 6.308
MW13-20 3225E 63.5 66.8 3.3 4.53 2.91 3.583
MW13-21 3225E 79.0 84.5 5.5 7.55 4.86 1.854
MW13-22 3200E 34.6 38.3 3.7 5.08 3.27 1.502
    47.3 48.3 1.0 1.37 0.88 1.840
MW13-23 3200E 57.6 61.0 3.4 4.67 3.00 1.205
MW13-24 3200E 79.5 83.2 3.7 5.13 3.30 1.039
MW13-25 3175E 14.1 18.4 4.3 5.95 3.82 1.465
    29.5 29.8 0.3 0.41 0.27 6.400
MW13-26 3175E 33.8 39.3 5.5 7.53 4.84 1.559
MW13-27 3175E 49.5 53.7 4.2 5.85 3.76 9.069
    57.0 57.5 0.5 0.70 0.45 3.600
    62.7 67.1 4.4 6.13 3.94 1.287
MW13-28 3175E 72.8 83.9 11.1 15.33 9.85 1.405
MW13-29 3150E 10.5 18.3 7.8 10.59 6.81 1.153
MW13-30 3150E 34.5 42.0 7.5 10.24 6.58 1.621
    46.4 48.7 2.3 3.14 2.02 2.397
MW13-31 3150E 54.0 62.5 8.5 11.84 7.61 1.306
MW13-32 3150E 74.1 83.1 9.0 12.29 7.90 1.080
MW13-33 3125E 13.7 24.0 10.3 14.15 9.10 1.177
MW13-34 3125E 43.0 45.2 2.2 3.08 1.98 2.033
MW13-35 3125E 51.4 59.8 8.4 11.44 7.35 1.155
MW13-36 3125E 71.2 80.8 9.6 13.28 8.54 1.072
MW13-37 3100E 32.3 33.0 0.7 0.96 0.61 2.389
    37.1 37.8 0.7 0.96 0.61 1.566
MW13-38 3100E 45.9 48.8 2.9 4.00 2.57 2.579
MW13-39 3100E 64.1 66.8 2.7 3.70 2.38 1.339

Table 3:  New Stepout Results (2250E - 3100E)

DDH Section From To Core length Horizontal Width True Width Grade
        (m) (m) (m)  
CDM13-01 2850E 11.5 16.2 4.7 6.46 4.15 1.800
  Incl 14.2 16.2 2.0 2.70 1.73 2.460
    41.1 41.5 0.4 0.54 0.35 1.320
CDM13-02 2850E 56.5 59.0 2.5 3.34 2.15 0.910
    61.8 62.8 1.0 1.34 0.86 2.280
    72.2 80.6 8.4 11.24 7.22 1.020
CDM13-03 2850E 104.5 105.0 0.5 0.65 0.42 3.360
    110.0 111.0 1.0 1.29 0.83 1.660
    115.0 115.3 0.3 0.39 0.25 2.520
    123.8 127.1 3.3 4.24 2.73 1.930
    130.2 132.1 1.9 2.44 1.57 1.180
    134.6 137.5 2.9 3.72 2.39 0.580
CDM13-04 2550E   5.8   6.3 0.5 0.70 0.45 1.200
    16.3 16.6 0.3 0.41 0.27 2.520
    22.8 26.0 3.2 4.41 2.84 0.980
    30.0 30.4 0.4 0.55 0.36 1.520
    33.1 33.4 0.3 0.41 0.27 3.760
    55.1 55.6 0.5 0.65 0.46 1.200
CDM13-05 2550E 16.1 16.6 0.5 0.69 0.44 1.000
    50.0 52.4 2.4 3.70 2.38 0.470
    68.8 69.1 0.3 0.42 0.27 1.320
    82.0 85.5 3.5 4.88 3.14 0.960
CDM13-06 2550E   8.1   8.6 0.5 0.74 0.47 1.360
    34.2 34.7 0.5 0.68 0.43 3.880
    60.9 61.7 0.8 1.08 0.69 1.450
    69.7 83.2 13.5 18.17 11.68 1.450
  Incl 69.7 71.7 2.0 2.69 1.73 1.540
  Incl 73.2 78.2 5.0 6.73 4.33 2.150
  Incl 80.7 83.2 2.5 3.36 2.16 1.390
    118.0 121.0 3.0 4.02 2.58 2.410
CDM13-07 2400E 55.7 56.7 1.0 1.37 0.88 1.860
    62.8 63.3 0.5 0.68 0.44 1.200
    117.3 117.6 0.3 0.41 0.26 1.920
CDM13-08 2250E 20.1 20.8 0.7 0.97 0.62 6.030
CDM13-09 2250E 25.4 25.9 0.5 0.77 0.49 1.000
    30.3 31.1 0.8 1.22 0.79 2.925
    34.7 36.7 2.0 3.06 1.97 1.250
CDM13-10 2250E 44.1 46.4 2.3 3.51 2.26 1.506
    50.9 52.9 2.0 3.05 1.96 1.170
    59.4 59.9 0.5 0.76 0.49 1.320
    63.4 63.9 0.5 0.76 0.49 2.720


 

 

 

SOURCE Wesdome Gold Mines Ltd.

For further information:


Rolly Uloth
President & CEO
416-360-3743 ext 25

or

George Mannard, P.Geo.
Vice President, Exploration
416-360-3743 ext 22

8 King St. East, Suite 1305
Toronto, ON, M5C 1B5
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Email: invest@wesdome.com, Website: www.wesdome.com