TORONTO, June 13, 2012 /CNW/ - Wesdome Gold Mines Ltd (WDO: TSX) is
pleased to release highlights of its underground drilling program for
the first half of 2012.
Highlights of the drilling were the discovery of new zones of good grade
located 190 metres northeast of the Dubuisson Zone, which we now call
Dubuisson North. Also, drilling below the VC Zone shows potential for
the zone to continue to the east of previous downplunge drill coverage.
16.75 gAu/tonne over 12.5 m (core length) at Dubuisson North
10.65 gAu/tonne over 4.3 m (core length) at Dubuisson North
7.26 gAu/tonne over 3.2 m (core length) at Dubuisson North
7.18 gAu/tonne over 10.3 m true width at VC Zone
During the first half of the year drilling tested the Dubuisson Zone at
depth from our new drift located 200 metres to the south on the 330
metre level. First pass drilling indicates the mineralized system
continues at depth, however, results are subeconomic.
At the end of the program, two flat holes were winged to the northeast.
These encountered broad mineralized zones, including separate intervals
of 16.75 gAu/tonne or 11.97 gAu/tonne (cut to 34.28 gAu/tonne) over a
corelength of 12.5 metres (10.2 metres true width) and 10.68 gAu/tonne
over 4.3 metres corelength or 3.5 metres true width in hole U-5941.
Follow up hole U-5947 encountered correlating intervals grading 2.22
gAu/tonne over 8.5 metres corelength (7.5 metres true width) and 7.26
gAu/tonne over 3.2 metres corelength (2.8 metres true width).
This new Dubuisson North Zone mineralization is located 190 metres
northeast of the Dubuisson Zone and remains open in all directions.
To date, the Dubuisson Zone is known to contain at least three lenses of
mineralization. The Dubuisson E Zone (Dub E) demonstrates the best
internal continuity to date based on drilling at 50 metre centres. It
has a strikelength of 150 metres, a height of 200 metres and an average
true width of 4.6 metres. The Dub E will be the focus of future
underground development. The continuity of the other Dubuisson lenses
will be investigated from these underground workings. The new
Dubuisson North will be delineated by drilling from sites opened up by
Mineralization at Dubuisson is typlified by broad zones of stockwork
veining and pyrite mineralization hosted by vertically dipping
albitized diorite bodies commonly in contact with feldspar porphyry
dikes or sills.
The recent drilling gives the Company confidence that a significant
multizone mineralized system occurs at Dubuisson with significant
exploration potential above the 330 metre access level remaining.
Over the last six years the VC Zone has produced the bulk of Kiena's
better grade production generating 91,500 ounces of gold from 672,000
tonnes at an average grade of 4.3 gAu/tonne. The VC Zone is a plunging
pipe-like body with a strikelength of about 60 metres and widths of up
to 20 metres. Previous drilling indicated that it pinched out at
depth. Recent drilling from the 670 metre level suggests potential
remains to the east and at depth. Hole U-5813 encountered 7.18
gAu/tonne over a true width of 10.3 metres and hole U-4539 encountered
5.41 gAu/tonne over a true width of 10.6 metres. The VC Zone is a
dislocated fold nose at a basalt-komatiite contact. Mineralization
consists of disseminated pyrite in a calcite vein stockwork. The
Company intends to delineate the potential continuity of this zone to
the east of the previously interpreted plunge trend. A drill will be
moved to this target later in the year.
Currently two drills are testing potential at depth of the S-50 Zone
from recently completed development. The first drill is providing
definition drilling for mine planning of resources immediately adjacent
and below the existing ramp system. This area is expected to provide
significant production volumes over the next three years.
The second drill is testing potential that the S-50 Zone may be opening
up at depth about 250 metres below the previously mentioned resource
block. Drilling is taking place from a recently completed exploration
drift and is designed to follow-up on very encouraging results
originally released March 29, 2010, which included highlights of 12.31
gAu/tonne over a corelength of 12.8 metres (8.2 metres true width) and
20.66 gAu/tonne over a corelength of 10.5 metres (5.5 metres true
width). The drill will remain here for the rest of the year.
The S-50 Zone consists of a deformed, albitized vein-breccia-dyke
complex situated at a tholeitic basalt-komatiite contact. The S-50
Zone has historically provided about 90% of the 1.7 million ounces
produced to date from the Kiena mine. The Company intends to examine
if this important zone resumes at depth as previous results would
appear to indicate.
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
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
SOURCE Wesdome Gold Mines Ltd.
For further information:
Donovan Pollitt, P.Eng., CFA
President & CEO
416-360-3743 ext 25
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: email@example.com, Website: www.wesdome.com