VAL D'OR, QC, March 5, 2012 /CNW/ - Wesdome Gold Mines Ltd (WDO: TSX) is pleased to announce the results from its 2011 surface diamond drilling program on the Northwest Zone located 1.3 kilometres northwest of the Kiena mine shaft.
Surface drilling of the Northwest Zone, located about 600 metres west of current mining areas, has confirmed the internal geometry of the zone at fifty metre centres. Additionally, a previously untested parallel zone is emerging at shallow depths, grading up to 14.34 gAu/tonne over a true width of 4.9 metres in hole S717.
Drill hole locations and results are summarized in Tables 1 and 2.
- 26.16 gAu/tonne over 3.3 m (core length)
- 7.70 gAu/tonne over 2.9 m (core length)
- 3.23 gAu/tonne over 4.7 m (core length)
- 2.94 gAu/tonne over 8.1 m (core length)
George Mannard, VP Exploration, comments, "This provides us with the confidence for a reasonable grade and tonnage estimate on the main lens plus some exploration potential. These results will be incorporated into the mine planning process."
Table 1: Drill Hole Locations
| Hole No.
* Drill hole abandoned
Table 2: Drill Hole Results
** An upper grade cutting limit of 34.28 gAu/tonne was applied.
Note: Results tabled in magenta italic text represent an interpreted branch of the Northwest Zone.
The Northwest Zone is a tabular zone consisting of quartz-carbonate-tourmaline-pyrite veining hosted by albite altered diorites and tholeitic basalts. The Northwest Zone strikes northwest, dipping at -65 degrees towards northeast. The Northwest Zone is situated approximately 600 metres west of the 388 zone currently being developed at the 330 metres level. The zone appears to be branching into at least two sub parallel lenses to the northeast. This is illustrated by the following intersections encountered at shallow depth well before the intended target:
- hole S717 14.34 gAu/tonne over 4.9 metres true width
- hole S720 3.04 gAu/tonne over 6.5 metres true width
- hole S729 6.26 gAu/tonne over 1.2 metres true width
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.
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.
For further information:
Donovan Pollitt, P.Eng., CFA or
President & CEO
416-360-3743 ext 25
George Mannard, P.Geo.
Vice President, Exploration
416-360-3743 ext 22