VAL D'OR, QC, Feb. 27, 2013 /CNW/ - Wesdome Gold Mines Ltd (WDO: TSX) is pleased to announce the discovery of a new gold occurrence near the Kiena Mine in Val-d'Or, Quebec. A land based surface exploration drill program of the "Presqu'ile" sector located 1.4 kilometres northwest of Kiena Mine was initiated in January 2012 to verify the exploration potential along the "Norbenite-Marbenite Break" which is host to several past and current producing gold mines including Malartic Hygrade, Norlartic, Kierens, Marban, Kiena and Goldex.
The new gold mineralized system spans approximately 200 metres in length and continues to at least 300 metres below surface. The mineralized veins are generally oriented at 300° azimuth with a 60° dip northeast and remain open along strike and at depth. Early encouraging drill results demonstrate the exploration merit for continued follow-up drilling to verify the dimensions and internal geometry of the gold mineralized system.
Drill hole locations and results highlights are summarized in Tables 1 and Table 2 respectively along with the surface plans, available at www.wesdome.com.
George Mannard, Vice President, Exploration comments "This is a high grade, multi-vein system in a strong structure. It requires detailed sectional drilling and patience. This discovery serves to highlight the tremendous exploration potential of our strategically-located, large land package."
- 3.10 gAu/tonne over 1.4 m (core length), 0.9 m (true width) in hole S739
- 4.65 gAu/tonne over 1.5 m (core length), 1.0 m (true width) in hole S739
- 5.04 gAu/tonne over 6.8 m (core length), 4.5 m (true width) in hole S739
- 30.39 gAu/tonne over 3.0 m (core length), 2.4 m (true width) in hole S744
- 11.30 gAu/tonne over 1.5 m (core length), 1.2 m (true width) in hole S744
- 5.78 gAu/tonne over 1.5 m (core length), 1.3 m (true width) in hole S744
- 8.56 gAu/tonne over 1.8 m (core length), 1.2 m (true width) in hole S745
- 3.22 gAu/tonne over 4.3 m (core length), 3.5 m (true width) in hole S746
- 63.42 gAu/tonne over 0.5 m (core length), 0.4 m (true width) in hole S747
- 71.03 gAu/tonne over 2.9 m (core length), 2.1 m (true width) in hole S748
Mineralization in the "Presqu'ile" sector consists of a series of steeply dipping sub-parallel quartz-carbonate-chlorite veins mineralized with pyrite, chalcopyrite, minor sphalerite, galena and visible native gold hosted by mafic volcanic tuffs and flows along the contact with komatiite flows. The new Presqu'ile gold occurrence, located just north of the Kiena mine tailings pond, is situated approximately 800 metres southwest of the Northwest Zone currently being evaluated for future development.
The technical content of this press release has been compiled, reviewed and 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".
Table1: PRESQU'ILE SECTOR - DRILL HOLE LOCATIONS
| Hole No.
Table 2: PRESQU'ILE SECTOR - SIGNIFICANT INTERSECTIONS
| Hole No.
| Est. Width
| Cut Grade
(cut to 34.28
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
George Mannard, P.Geo.
Vice President, Exploration
416-360-3743 ext 22