Wesdome secures production permit for new Quebec gold zone
Wesdome Gold Mines Ltd. [WDO-TSX] said it has received an updated Certificate of Authorization as well as a mine lease for the Presqu’ile Zone, a near-surface deposit at with direct ramp access to surface located at the company’s Kiena mine in Val-d’Or, Quebec.
“We are pleased to share that production from the Presqu’ile Zone is expected to commence ahead of schedule, advancing timelines originally set out in our mine plans,’’ said Wesdome President and CEO Anthea Bath. “Incremental ore from Presqu’ile is a key component in achieving Kiena’s 2026 production guidance and an important step towards delivering on our fill-the-mill strategy,’’ Bath said. “Once fully ramped up, this new zone is expected to deliver between 250 and 450 tonnes per day of additional ore to Kierna’s mill.”
Wesdome is a Canada-focused gold producer with two high-grade underground mines. They include the Eagle River mine in Ontario and Kiena mine in Quebec. On Tuesday, Wesdome shares rose 3.3% or 72 cents to $22.61. The shares trade in a 52-week range of $27.64 and $13.76.
Wesdome recently announced its operating results for the fourth quarter and full year ended December 31, 2025, as well as 2026 guidance. The company said gold production it expected to be 180,000 to 205,000 ounces this year as Wesdome executes on its fill-the mill strategy and prepares to showcase the potential upside and opportunity associated with its June mineral reserve and mineral resource update.
The company reported total production of 185,575 ounces of gold in 2025, including 112,767 ounces from Eagle River and 72,808 ounces from Kiena. The company said Kiena will continue advancing its ongoing continuous improvement program while investing in infrastructure that will set the stage for future growth. It said Kiena stands to benefit from an increase in the number of mining areas as well as a second portal, more predictable production from Kiena Deep and incremental ore from the Presqu’ile Zone.
The company also said its $55 million exploration budget will focus on step-out drilling to drive new discoveries and meaningfully grow the resource base.
Eagle River’s production in 2026 is expected to total 105,000 to 115,000 ounces with output split evenly between the first and second half of the year. Processed ore is planned to be slightly higher than 2025. With 300 and 700 zones supplying the majority of the mill feed, Eagle River’s average processed grade is expected to be 13.0 to 14.0 g/t, consistent with reserve grades.
Kiena’s 2026 production guidance is 75,000 to 90,000 ounces with the mid-point representing a 13% increase over 2025. This growth will be driven by improving operational stability at Kiena Deep and incremental production from Presqu’ile. The average processed grade of 8.0 to 9.5 g/t reflects a higher relative contribution from Presqu’ile.
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