Wesdome hits more high-grade gold at Eagle River
Wesdome Gold Mines Ltd. [WDO-TSX; WDOFF-OTC on Tuesday December 8 released results from the ongoing underground exploration drilling at its 100%-owned Eagle River Mine in Wawa, Ontario.
The company said ongoing extension and definition drilling of the 300 East Zone has continued to return high-grade gold intersections. It said the 300 East Zone, previously defined from the 750-metre to 1,000-metre level, has now been extended to the 1,400-metre level.
Drilling highlights included Hole 925-E-135, which returned 41.0 g/t gold over a 10.0-metre core length (34.8 g/t gold cut, 4.2 metres true width).
Recent drilling confirms the continuity of the geometry and the consistency of the high-grade mineralization, and remains open down plunge, the company said.
“We are thrilled with our ongoing exploration efforts at the 300 East Zone, which continue to grow in size and return high grade values,” said Wesdome President and CEO Duncan Middlemiss. “Mining of this zone will positively impact operations for the next several years.” Wesdome shares fell 0.554% or $0.06 to $10.77 on volume of 250,606. The shares are currently trading in a 52-week range of $15 and $5.85.
Utilizing a central mill, Wesdome’s Eagle River Complex is currently producing from two gold mines, the Eagle Underground mine and the Mishi Open pit. The company has guided the market to anticipate production of between 90,000 and 100,000 ounces this year.
Middlemiss said he is also pleased with development of the 311 West Zone, which will contribute a significant portion of 2021 mining and is substantially developed in preparation for production.
He said development of the 311 West Zone confirms the continuity of high grade in this zone, and appears to be even higher than the original exploration drilling.
The company is planning what will be the largest exploration program in the company’s history. It will consist of the continuation of exploration at depth, outside of the mine diorite, as well as areas along the Eagle Mine trend throughout the company’s southern property package.