Wesdome identifies new gold occurrence near Kiena Mine

VAL D'OR, QC, Feb. 27, 2013 /CNW/ - Wesdome Gold Mines Ltd (WDO: TSX) is pleased to announce the discovery of a new gold occurrence near the Kiena Mine in Val-d'Or, Quebec. A land based surface exploration drill program of the "Presqu'ile" sector located 1.4 kilometres northwest of Kiena Mine was initiated in January 2012 to verify the exploration potential along the "Norbenite-Marbenite Break" which is host to several past and current producing gold mines including Malartic Hygrade, Norlartic, Kierens, Marban, Kiena and Goldex.

The new gold mineralized system spans approximately 200 metres in length and continues to at least 300 metres below surface. The mineralized veins are generally oriented at 300° azimuth with a 60° dip northeast and remain open along strike and at depth.  Early encouraging drill results demonstrate the exploration merit for continued follow-up drilling to verify the dimensions and internal geometry of the gold mineralized system.

Drill hole locations and results highlights are summarized in Tables 1 and Table 2 respectively along with the surface plans, available at www.wesdome.com.

George Mannard, Vice President, Exploration comments "This is a high grade, multi-vein system in a strong structure.  It requires detailed sectional drilling and patience.  This discovery serves to highlight the tremendous exploration potential of our strategically-located, large land package."

HIGHLIGHTS INCLUDE

  • 3.10 gAu/tonne over 1.4 m (core length), 0.9 m (true width) in hole S739

  • 4.65 gAu/tonne over 1.5 m (core length), 1.0 m (true width) in hole S739

  • 5.04 gAu/tonne over 6.8 m (core length), 4.5 m (true width) in hole S739

  • 30.39 gAu/tonne over 3.0 m (core length), 2.4 m (true width) in hole S744

  • 11.30 gAu/tonne over 1.5 m (core length), 1.2 m (true width) in hole S744

  • 5.78 gAu/tonne over 1.5 m (core length), 1.3 m (true width) in hole S744

  • 8.56 gAu/tonne over 1.8 m (core length), 1.2 m (true width) in hole S745

  • 3.22 gAu/tonne over 4.3 m (core length), 3.5 m (true width) in hole S746

  • 63.42 gAu/tonne over 0.5 m (core length), 0.4 m (true width) in hole S747

  • 71.03 gAu/tonne over 2.9 m (core length), 2.1 m (true width) in hole S748

Mineralization in the "Presqu'ile" sector consists of a series of steeply dipping sub-parallel quartz-carbonate-chlorite veins mineralized with pyrite, chalcopyrite, minor sphalerite, galena and visible native gold hosted by mafic volcanic tuffs and flows along the contact with komatiite flows. The new Presqu'ile gold occurrence, located just north of the Kiena mine tailings pond, is situated approximately 800 metres southwest of the Northwest Zone currently being evaluated for future development.

TECHNICAL DISCLOSURE

The technical content of this press release has been compiled, reviewed and verified by Marc Ducharme, P.Geo. OGQ, Chief Exploration Geologist, Kiena mine in his capacity as a "Qualified Person", as per requirements of National Instrument 43-101. Assaying was done by fire assay methods at the Kiena mine assay office. In addition to internal duplicate, standards and blanks, the geology department inserts blind standards and blanks into the sample stream at a frequency of one in twenty to monitor quality control.

ABOUT WESDOME

Wesdome is celebrating its 25th year of continuous mining operations in Canada.  It currently has three producing gold mines with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Québec.  The Company has 101.9 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".

Table1: PRESQU'ILE SECTOR - DRILL HOLE LOCATIONS

Hole No.



S733
Easting

(KIENA)

12039
Northing

(KIENA)

13494
Elevation

(KIENA)

359
Azimuth

(degrees)

-51
Dip

(degrees)

300
Depth

(metres)

S733
S734 11826 13424 182 -50 297 S734
S735 11811 13168 177 -50 300 S735
S736 11810 13219 182 -50 300 S736
S737 11807 13260 179 -51 300 S737
S738 11807 13260 360 -50 300 S738
S739 11807 13260 180 -80 312 S739
S740 11807 13259 180 -65 303 S740
S741 11863 13259 180 -50 303 S741
S742 11866 13209 180 -50 304 S742
S743 11867 13162 180 -50 315 S743
S744 11779 13265 180 -50 306 S744
S745 11780 13267 180 -67 303 S745
S746 11781 13210 180 -50 300 S746
S747 11779 13269 210 -50 300 S747
S748 11779 13269 210 -68 300 S748

Table 2: PRESQU'ILE SECTOR - SIGNIFICANT INTERSECTIONS

Hole No.




S733
From

(metres)


80.0
To

(metres)


81.5
Core
length

(metres)

1.5
Est. Width

(metres)


1.0
Grade

(gAu/tonne)


1.03
Cut Grade

(cut to 34.28
gAu/tonne)

1.03
S734 60.7 61.2 0.5 0.4 0.63 0.63
S735 101.0 102.0 1.0 0.9 1.40 1.40
S736 278.6 281.2 2.6 2.5 0.60 0.60
S737 286.9 288.0 1.1 1.0 0.94 0.94
S738 181.8 183.1 1.3 0.1 0.95 0.95
S739 216.4 217.8 1.4 0.9 3.10 3.10
S739 254.2 255.7 1.5 1.0 4.65 4.65
S739 265.9 272.7 6.8 4.5 5.04 3.49
S739 296.0 297.4 1.4 1.0 2.03 2.03
S740 219.8 220.7 0.9 0.7 1.09 1.09
S741 90.6 94.3 3.7 3.2 0.54 0.54
S741 285.7 287.0 1.3 1.2 2.75 2.75
S742 175.3 177.5 2.2 2.0 0.36 0.36
S743 122.9 123.9 1.0 0.9 1.49 1.49
S743 271.9 273.5 1.6 1.4 1.43 1.43
S743 283.5 286.2 2.7 2.4 0.42 0.42
S743 289.7 291.2 1.5 1.4 0.58 0.58
S743 304.0 305.4 1.4 1.3 0.72 0.72
S743 312.4 313.0 0.6 0.6 0.72 0.72
S744 186.2 189.2 3.0 2.7 30.39 12.37
S744 216.3 217.7 1.4 1.3 2.02 2.02
S744 222.7 225.6 2.9 2.6 2.24 2.24
S744 284.1 285.6 1.5 1.4 11.30 11.30
S744 304.5 306.0 1.5 1.3 5.78 5.78
S745 175.1 176.9 1.8 1.4 8.56 8.56
S745 222.6 223.2 0.6 0.5 9.81 9.81
S746 149.1 153.4 4.3 3.8 3.22 3.22
S746 257.0 258.7 1.7 1.5 0.80 0.80
S746 263.7 264.2 0.5 0.5 0.62 0.62
S746 275.2 277.1 1.9 1.7 0.51 0.51
S746 287.5 289.8 2.3 2.1 0.29 0.29
S747 65.0 66.1 1.1 1.0 1.30 1.30
S747 161.4 161.9 0.5 0.5 63.42 34.28
S747 168.1 170.6 2.5 2.4 1.24 1.24
S747 173.7 174.2 0.5 0.5 1.10 1.10
S748 189.0 191.9 2.9 2.4 71.03 23.28

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.

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SOURCE: Wesdome Gold Mines Ltd.

For further information:

Donovan Pollitt, P.Eng., CFA
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

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