Wesdome Gold Mines Ltd. - New 7 Zone opens up at depth drill hole EU-756 intersects 89.94 gAu/tonne over 2.32 metres true width

WDO:TSX

TORONTO, Sept 15, 2014 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) is pleased to announce promising drill results from the new 7 Zone located 200 metres north and parallel to the main producing 8 Zone structure at its100%-owned Eagle River Mine, located 50 km due west of Wawa, Ontario.

Highlights include the following consecutive holes:

  • EU-753       30.54 gAu/tonne over 1.42 metres true width
  • EU-754       28.33 gAu/tonne over 3.13 metres true width
  • EU-755       16.48 gAu/tonne over 2.19 metres true width
  • EU-756       89.94 gAu/tonne over 2.32 metres true width
  • EU-757         7.93 gAu/tonne over 1.41 metres true width
  • EU-758         5.13 gAu/tonne over 3.10 metres true width
  • EU-759       16.53 gAu/tonne over 2.02 metres true width

Rolly Uloth, President, comments "The Eagle River Mine has been steadily producing for 20 years and continues to show promise at depth and in recently recognized parallel zones within range of existing workings.  Today's results confirm the potential for another additional high grade mining area at depth.  Further drilling is underway to fully delineate its size potential and prospecting efforts will attempt to trace its projection to surface."

A complete list of results to date is provided in the following table with hole locations provided on the accompanying longitudinal section.

Drilling demonstrates high grades, good widths and continuity at depth and towards the west where the zone remains open.

Drilling continues to delineate and define two new parallel structures (the 7 Zone and 300 Zone) initially announced in a press release dated August 19, 2013, available at www.wesdome.com.

Gold mineralization at the Eagle River Mine is hosted by east-west striking, steeply north-dipping laminated quartz veins.  The veins occur as tabular lenses occupying shear zones following the long axis of a 2.0 kilometre by 0.5 kilometre elongate quartz diorite stock.

Since the first gold bar was poured on October 17, 1995, the Eagle River Mine has produced 988,070 ounces of gold from 3,357,994 tonnes milled at an average recovered grade of 9.2 gAu/tonne.

TECHNICAL DISCLOSURE

All assays are performed by fire assay on 25 gram aliquots at the Eagle River Mine Assay Office.  Duplicates, replicates, blanks and standards are routinely inserted into the sample stream to monitor quality control.  The technical content in this press release was compiled by Daniel Lapointe, PGeo, Chief Geologist at Eagle River and "Qualified Person" as defined and required by National Instrument 43-101 "Standards of Disclosure".

ABOUT WESDOME

Wesdome is in its 28th year of continuous mining operations in Canada.  It currently has two producing gold mines in Wawa, Ontario, the Kiena Mine Complex in Val d'Or, Québec and the 3 million ounce Moss Lake gold deposit located 100 kilometres west of Thunder Bay, Ontario.  The Company has approximately 111.1 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".

Rolly Uloth
President & CEO

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.



Drill Hole

From

(m)

To

(m)

Core Length

(m)

Horizontal Length

(m)

True Width

(m)

Au

(g/t)

Au_cut

     (g/t) **

EU-700

369.00

370.90

1.90

1.50

1.41

5.384

5.38

EU-701

402.65

404.50

1.85

1.38

1.30

6.624

6.62

EU-702

345.00

346.00

1.00

0.70

0.66

0.140

0.14

EU-703

279.00

280.75

1.75

1.66

1.56

1.310

1.31

EU-704

313.70

315.50

1.80

1.51

1.42

7.098

7.10

EU-705

377.00

380.00

3.00

2.22

2.09

9.801

9.80

EU-706

356.50

358.00

1.50

0.98

0.92

0.400

0.40

EU-707

295.65

297.30

1.65

1.50

1.41

16.595

16.59

EU-708

346.00

348.50

2.50

1.96

1.84

2.000

2.00

EU-709

284.60

286.90

2.30

1.51

1.34

3.520

3.52

EU-710

308.80

310.55

1.75

1.51

1.42

1.246

1.25

EU-711

335.00

340.65

5.65

4.55

4.28

1.227

1.23

EU-712

349.00

351.15

2.15

1.66

1.56

4.595

4.60

EU-713

427.20

429.45

2.25

1.51

1.42

1.802

1.80

EU-716

250.50

252.25

1.75

1.49

1.50

4.430

4.43

EU-717

237.00

238.50

1.50

1.60

1.50

4.568

4.57

EU-721

288.00

289.70

1.70

1.60

1.51

4.428

4.43

EU-722

224.80

226.50

1.70

1.51

1.41

3.129

3.13

EU-723

333.45

335.20

1.75

1.52

1.43

42.307

21.72

EU-724

359.50

361.25

1.75

1.48

1.39

1.322

1.32

EU-726

396.10

398.80

2.70

2.03

1.91

22.950

19.88

EU-728

264.80

266.30

1.50

1.50

1.41

4.560

4.56

EU-738

257.25

258.65

1.40

1.41

1.32

0.586

0.59

EU-740

341.20

342.80

1.60

1.49

1.40

0.238

0.24

EU-741

311.70

312.00

0.30

0.30

0.28

0.640

0.64

EU-742

409.00

411.50

2.50

1.52

1.43

4.008

4.01

EU-744

344.10

345.85

1.75

1.49

1.40

14.362

14.36

EU-745

358.55

360.40

1.85

1.51

1.42

0.630

0.63

EU-752

336.20

338.00

1.80

1.51

1.42

1.856

1.86

EU-752

336.50

337.00

0.50

0.42

0.39

6.440

6.44

EU-753

369.80

371.70

1.90

1.51

1.42

30.535

16.79

EU-754

388.40

392.80

4.40

3.33

3.13

28.330

15.78

EU-755

464.90

468.50

3.60

2.33

2.19

16.480

9.65

EU-756

486.70

490.40

3.70

2.46

2.32

89.935

34.12

EU-757

347.25

349.10

1.85

1.50

1.41

7.933

7.93

EU-758

393.50

398.00

4.50

3.30

3.10

5.125

5.13

EU-759

459.00

462.20

3.20

2.15

2.02

16.534

10.84

EU-760

265.00

266.55

1.55

1.52

1.43

0.000

0.00

EU-761

364.00

365.95

1.95

1.52

1.42

3.385

3.38

EU-762

475.40

478.10

2.70

1.50

1.41

0.633

0.63

EU-763

349.10

350.90

1.80

1.48

1.39

0.560

0.56

EU-763

349.70

350.20

0.50

0.41

0.39

1.600

1.60

EU-764

379.90

381.80

1.90

1.49

1.40

3.893

 3.89.

 

Drill Hole

From

To

Core Length

Horizontal Length

True Width

Au (ppm)

Au_cut (g/t)

EU-765

412.20

414.30

2.10

1.54

1.44

21.069

18.09

EU-766

358.30

358.70

0.40

0.35

0.33

3.600

3.60

EU-767

344.90

347.20

2.30

1.86

1.75

14.120

8.65

EU-768

379.10

381.90

2.80

2.14

2.02

5.681

5.68

EU-769

391.00

400.80

9.80

7.24

6.80

11.225

7.64

EU-694 *

491.00

494.90

3.90

2.38

2.24

27.930

21.19

EU-693 *

386.90

391.05

4.15

2.78

2.61

29.019

24.46

*   Previously released August 19, 2013 (www.wesdome.com)

**   High grades cut to 60 gAu/tonne

Image with caption: "No. 7 Zone Longitudinal Section (CNW Group/Wesdome Gold Mines Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140915_C2476_PHOTO_EN_5585.jpg

SOURCE: Wesdome Gold Mines Ltd.

For further information: Lindsay Dunlop., Vice President, Investor Relations, 416-360-3743 ext 25, ldunlop@wesdome.com; 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

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