Wesdome Gold Mines Ltd - S-50 Zone Infill Drilling Cuts 20.1 Metres of 9.51
gAu/tonne at Kiena Mine
VAL D'OR, QC, June 22 /CNW/ - Wesdome Gold Mines Ltd (WDO: TSX) is pleased to announce encouraging infill drilling results which enhance the potential of a previously outlined resource block in close proximity to existing workings.
Highlights include the following intersections: - 20.1 metres true width at 9.51gAu/tonne - 9.4 metres true width at 30.28gAu/tonne - 10.8 metres true width at 6.67gAu/tonne - 6.5 metres true width at 7.69gAu/tonne
"Evidence of better than previously contemplated grades demonstrates potential to upgrade this block to reserves and move it into our mining sequence. Subject to formal costing and planning, this area shows potential to add at least one year of reserves," commented Donovan Pollitt, P.Eng., President of Wesdome.
The area drilled is situated in the S-50 Zone immediately below an existing ramp (Figure 1). Development of this area would provide a drilling platform to further extend and outline the new S-50 Deep Zone, recently announced in a press release dated March 29, 2010 (Figures 2 and 3).
A comprehensive list of recent drilling results follows in Table 1.
Table 1: S-50 Zone Intersections Drilled from level 91 13450E/12600N/2145m ------------------------------------------------------------------------- Hole Azimuth Dip From To Core True Grade Cut Grade No. (degrees) (degrees) (m) (m) length Width (gAu/ (34.28gAu (m) (m) tonne) /tonne) ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-4991 220 -21 145.5 157.4 11.9 11.5 3.73 3.73 ------------------------------------------------------------------------- includes 150.5 157.4 6.9 6.7 5.22 5.22 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-4992 210 -45 133.6 154.0 20.4 20.1 9.51 4.60 ------------------------------------------------------------------------- includes 133.6 139.0 5.4 5.2 28.79 10.24 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5009 210 -27.5 147.3 153.0 5.7 5.2 2.12 2.12 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5010 218 -59 161.2 168.6 7.4 6.8 3.46 3.46 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5011 200 -44 147.8 153.9 6.1 5.7 3.00 3.00 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5012 198 -24.5 137.5 151.85 14.35 13.4 1.27 1.27 ------------------------------------------------------------------------- includes 137.5 141.3 3.8 3.6 2.79 2.79 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5013 190 -35 142.5 148.4 5.9 5.3 1.28 1.28 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5014 190 -14.5 162.5 168.5 6.0 4.7 3.30 3.30 ------------------------------------------------------------------------- 194.0 201.0 7.0 5.7 3.25 3.25 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5015 185 -10 169.0 179.0 10.0 7.6 3.22 3.22 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5016 179 -29 146.5 154.0 7.5 6.4 3.99 3.99 ------------------------------------------------------------------------- 174.1 191.8 17.7 11.2 1.96 1.96 ------------------------------------------------------------------------- includes 174.1 180.2 6.1 3.9 3.46 3.46 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5032 221 -30 146.5 156.0 9.5 9.4 30.28 6.87 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5033 221 -40 141.15 156.8 15.65 15.6 3.89 3.89 ------------------------------------------------------------------------- includes 145.0 156.8 11.8 11.8 4.58 4.58 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5034 230 -52 156.0 161.0 5.0 4.9 0.89 0.89 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5035 230 -38 146.0 156.8 10.8 10.8 6.67 5.06 ------------------------------------------------------------------------- includes 151.0 156.8 5.8 5.8 11.49 8.50 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5036 230 -30 150.0 156.6 6.6 6.5 7.69 7.69 ------------------------------------------------------------------------- 188.0 192.1 4.1 4.0 4.35 4.35 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5037 247 -40 150.8 156.6 5.8 5.4 0.36 0.36 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5038 247 -25 147.0 155.0 8.0 6.6 3.43 3.43 ------------------------------------------------------------------------- 180.5 186.5 6.0 5.0 4.58 4.58 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U-5039 265 -40 153.85 159.8 5.95 4.8 0.37 0.37 -------------------------------------------------------------------------
Mineralization is typical of the S-50 zone consisting of an albitized stockwork vein-breccia-dyke complex emplaced near the contact of tholeiitic basalt and komatiite flows. The S-50 zone has provided about 91% of the 1.7 million ounces of gold produced to date from the Kiena mine.
Technical information in this press release has been compiled, reviewed and verified by P. Arscott, P.Geo, Chief Geologist - Kiena Mine and "Qualified Person" as defined by 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 an established Canadian gold producer with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Québec. Wesdome has been producing gold continually for 20 years on an unhedged basis and to date has produced in excess of 1.0 million ounces. The Company has 100.7 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., President & CEO, or Shelly John, Manager, Investor Relations, 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 protected], Website: www.wesdome.com
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