VAL-D'OR, QC, March 2, 2012 /CNW/ - Wesdome Gold Mines Ltd (WDO: TSX) has received the remaining results from its 2011 surface diamond drilling program on the Martin Zone located 1.2 kilometres east of the Kiena mine shaft.
Drilling results demonstrate potential to double the known vertical extent of mineralization above drifting and detailed definition drilling from the 330 metre level underground workings. We are planning to develop and mine the Martin Zone from the 330 metre level. It offers potential to boost overall grades at the Kiena Mine Complex.
These results follow those previously released July 19 and September 19, 2011 available on the company's website - www.wesdome.com.
The location and results are summarized in Tables 1 and 2.
- 5.00 gAu/tonne over 9.6 m including 11.25 gAu/tonne over 3.4 m (core length)
- 3.36 gAu/tonne over 9.0 m including 11.26 gAu/tonne over 2.5 m (core length)
- 1.36 gAu/tonne over 17.2 m including 5.71 gAu/tonne over 1.6 m (core length)
- 23.17 gAu/tonne over 0.7 m and 12.13 gAu/tonne over 0.5 m (core length)
George Mannard, VP Exploration, comments "We are seeing potential of a second structure opening up. This will be evaluated progressively as we develop the main Martin Zone."
Table 1: Drill Hole Locations
| Hole No.
* Drill hole abandoned
Table 2: Drill Hole Results
|Hole No.|| From
| Cut Grade**
** An upper grade cutting limit of 34.28 gAu/tonne was applied.
Note: Results tabled in blue italic text represent an interpreted branch of the Martin Zone.
The Martin Zone strikes northwest and is subvertically dipping. It is a tabular zone consisting of albitized quartz stockwork veining and quartz-albite-pyrite veining in brecciated tholeitic basalts. The Martin Zone structure supported historic production of 139,000 tonnes grading 6.2 gAu/tonne above 230 metres depth during the period 1936 - 1938 from the former Martin Mine, located 1.0 kilometres to the southeast of current work. The Martin Zone appears to be branching into at least two zones along strike to the northwest.
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
President & CEO
416-360-3743 ext 25
George Mannard, P.Geo.
Vice President, Exploration
416-360-3743 ext 22