TORONTO, March 8 /CNW/ - Wesdome Gold Mines Ltd. is pleased to announce a decision to develop the Dubuisson Zone from the Kiena mine's 33rd level at a depth of 330 metres. Donovan Pollitt, President, commented "This new discovery demonstrates the highly prospective potential of our large strategic land package in Val d'Or and an ability to move fast, leveraging the Kiena mine's skilled workforce and infrastructure".
The Dubuisson Zone is situated 3 kilometres due east of the Kiena shaft. An existing exploration drift on the 330 metre level will be extended 1000 metres to reach the zone. Drill access should be established in about one year with direct access to the zone, if merited, within two years. Extending the 33rd level a further 1000 metres to the east provides the additional advantage of opening up more ground for underground exploration. An expenditure of $1.1 million is budgeted for this work in 2010.
To date, surface drilling has traced mineralization to a depth of 400 metres at nominal 50 metre centres. Management is of the opinion that underground access is necessary to prove internal continuity and provide a platform for infill drilling and exploration drilling to trace the structure to depths of 700 metres.
Results to date have identified multiple zones of gold mineralization hosted by brittley fractured albitized diorite and/or feldspar porphyry bodies within a broad deformed ultramafic (komatiite) sequence. Highlights as summarized in press releases dated November 18, 2009 and September 8, 2009 have included the following impressive corelength intersections:
- 4.63 gAu/tonne over 11.5 metres in hole S550
- 5.79 gAu/tonne over 10.0 metres and
16.45 gAu/tonne over 12.3 metres in hole S551
- 20.80 gAu/tonne over 7.3 metres,
20.84 gAu/tonne over 6.5 metres and
26.10 gAu/tonne over 10.3 metres in hole S552
- 10.51 gAu/tonne over 9.9 metres in hole S557
- 7.37 gAu/tonne over 10.0 metres in hole S557
- 5.00 gAu/tonne over 10.5 metres in hole S558
- 4.42 gAu/tonne over 12.5 metres and
7.85 gAu/tonne over 4.0 metres in hole S559
- 7.00 gAu/tonne over 8.0 metres and
5.82 gAu/tonne over 6.0 metres in hole S560
True widths represent 50 to 65% of corelengths based on an interpreted vertical dip.
Management is confident results to date demonstrate potential for this area to provide additional production capacity for the Kiena mine complex going forward. Results of this exploration and development program are required to substantiate this confidence.
Technical information in this press release was compiled and verified by Paul Arscott, PGeo, Chief Geologist, Kiena mine in his capacity as "Qualified Person" as per National Instrument 43-101. Assaying employed fire assay methods at the Kiena mine assay office. In addition to internal duplicates, 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 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 100.6 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.
SOURCE Wesdome Gold Mines Ltd.
For further information: For further information: Donovan Pollitt, P.Eng., President, 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: firstname.lastname@example.org, Website: www.wesdome.com