TORONTO, Aug. 17, 2011 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is pleased to report encouraging drill results at its 100% owned Eagle River Mine, Wawa, Ontario.
Drilling conducted in late 2010 and the first half of 2011 has identified new gold zones at previously untested depths in the central portion of the mine.
Highlights include:
- EU-504 41.77 gAu/tonne over 4.95 metres TRUE WIDTH
- EU-413 24.65 gAu/tonne over 1.47 metres TRUE WIDTH
- EU-497 111.13 gAu/tonne over 1.49 metres TRUE WIDTH
- EU-498 15.04 gAu/tonne over 4.29 metres TRUE WIDTH
- EU-356 13.79 gAu/tonne over 6.17 metres TRUE WIDTH
Complete results are tabulated below and plotted on the accompanying longitudinal section (available at www.wesdome.com).
George Mannard, VP Exploration, observes "New lenses of mineralization appear to be opening up at depth as has been our experience in the past. We will drift on these with the intent of proving continuity and, if results merit, incorporate them into our mine plan and ore reserves."
Section |
Hole No. |
From (m) |
To (m) |
Core length (m) |
True Width (m) |
Grade (gAu/tonne) |
Cut Grade (60gAu/tonne) |
9900E |
EU-419 |
138.80 |
140.80 |
2.00 |
1.53 |
11.57 |
11.57 |
9925E |
EU-501 |
84.95 |
86.55 |
1.60 |
1.50 |
15.32 |
15.32 |
|
EU-503 |
116.40 |
118.50 |
2.10 |
1.48 |
4.28 |
4.28 |
|
EU-504 |
131.70 |
138.70 |
7.00 |
4.95 |
41.77 |
14.06 |
9950E |
EU-412 |
85.20 |
86.75 |
1.55 |
1.50 |
5.00 |
5.00 |
|
EU-413 |
95.80 |
97.60 |
1.80 |
1.47 |
24.65 |
11.83 |
|
EU-436 |
126.50 |
128.80 |
2.30 |
1.48 |
8.83 |
8.83 |
|
EU-414 |
155.50 |
157.85 |
2.35 |
1.51 |
1.09 |
1.09 |
9975E |
EU-496 |
86.50 |
88.10 |
1.60 |
1.50 |
7.51 |
7.51 |
|
EU-497 |
98.65 |
100.60 |
1.95 |
1.49 |
111.13 |
27.87 |
|
EU-498 |
112.40 |
118.00 |
5.60 |
4.29 |
15.04 |
10.65 |
10000E |
EU-499 |
135.00 |
137.30 |
2.30 |
1.48 |
6.22 |
6.22 |
|
EU-355 |
115.50 |
118.10 |
2.60 |
1.49 |
4.85 |
4.85 |
|
EU-356 |
139.90 |
149.50 |
9.60 |
6.17 |
13.79 |
7.94 |
Gold mineralization is hosted in subvertically dipping, east-west striking tabular quartz veins in a discrete shear zone cutting a quartz-diorite stock. High grades are typically accompanied by accessory amounts of pyrite, sphalerite and galena.
Since the first gold pour in October, 1995, the Eagle River Mine has produced 873,000 ounces of gold from 2.92 million tonnes at a recovered grade of 9.3 gAu/tonne. The bulk of this production has come from a depth of less than 500 metres.
Recent development has opened up positions from which to drill at previously untested depths and preliminary results are very encouraging.
All assays are performed at the Eagle River mine assay office by fire assay on 25 gram sample aliquots. Duplicates, replicates, blanks and standards are routinely incorporated into the sample stream to monitor quality control. Werner Wirowatz,, P.Geo., Mine Geologist, Wesdome Gold Mines Ltd. is the "Qualified Person" responsible for the technical content of this Press Release as required by National Instrument 43-101.
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 more than 20 years on an unhedged basis and to date has produced in excess of 1.2 million ounces. 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.