Wesdome Gold Mines Ltd. - Follow-Up S-50 Deep Drilling Encouraging at Kiena

TORONTO, Sept. 4, 2012 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is pleased to update shareholders on its underground drilling progress at its Kiena mine, Val d'Or, Quebec.

HIGHLIGHTS INCLUDE

  • 3.71 gAu/tonne over 4.5 metres true width in U-5965B
  • 51.86 gAu/tonne over 4.9 metres true width in U-5966

Drilling is targeting the S-50 Deep Zone about 300 metres below the mine's deepest level (1000 metres).  The S-50 Zone has accounted for about 90% of Kiena's 1.7 million ounce historic production.  It was previously demonstrated to pinch out at about 1000 metres depth.  However, deep drilling in 2010 cut significant gold intersections suggesting the zone is re-emerging at about 1300 metres depth (Press Release, March 29, 2010).  Both holes, U-5965B and U-5966 intersected the S-50 Zone below the 2010 drill holes and the structure remains open at depth.

The Company established an exploration drift in 2011 to systematically test this potential and started drilling in 2012.  Drill progress has been slower than expected due to blocky ground conditions in the upper halves of the holes however we are excited and encouraged by these results.

The S-50 Zone consists of a deformed, albitized vein-breccia-dyke complex situated at a tholeitic basalt-komatiite contact.  The unusually high grade intersection in Hole U-5966 is characterized by a large quartz vein carrying visible gold situated within the S-50 structure.  A breakdown of the gold distribution within this interval is provided in Table 2.  Drilling is proceeding with the third hole nearing completion.

Results are highlighted on the Longitudinal Section (see www.wesdome.com) which also shows highlights of previous drilling locations, proposed holes and existing mine workings.

Table 1:  Drilling Highlights

Hole No. From
(metres)
To
(metres)
Zone Core
length
(metres)
Estimated
True Width
(metres)
Grade
(gAu/tonne)
Cut Grade**
(gAu/tonne)
U-5965B 440.0 447.0 S-50 7.0 4.5 3.71 3.71
U-5966 466.9 474.4 S-50 7.5 4.9 51.86 21.49
** An upper grade cutting limit of 34.28 gAu/tonne was applied. 

Table 2:  Detailed Assay Breakdown

Hole No. From
(metres)
To
(metres)
Zone
Core
length
(metres)
Grade
(gAu/tonne)
Cut Grade**
(gAu/tonne)
U-5965B 440.0 441.5 S-50 1.5 1.15 1.15
U-5965B 441.5 442.7 S-50 1.2 1.47 1.47
U-5965B 442.7 443.7 S-50 1.0 5.78 5.78
U-5965B 443.7 445.0 S-50 1.3 11.82 11.82
U-5965B 445.0 446.5 S-50 1.5 0.04 0.04
U-5965B 446.5 447.0 S-50 0.5 2.53 2.53
U-5966 466.9 468.2 S-50 1.3 5.27 5.27
U-5966 468.2 469.2 S-50 1.0 0.07 0.07
U-5966 469.2 470.2 S-50 1.0 39.88 34.28
U-5966 470.2 471.2 S-50 1.0 10.29 10.29
U-5966 471.2 472.2 S-50 1.0 66.27 34.28
U-5966 472.2 473.2 S-50 1.0 37.70 34.28
U-5966 473.2 473.8 S-50 0.6 187.47 34.28
U-5966 473.8 474.4 S-50 0.6 192.34 34.28

TECHNICAL DISCLOSURE

The technical content of this press release has been 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".

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:

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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