Wesdome Gold Mines Ltd. [WDO-TSX] reported excellent early underground drill results from the exploration program at its 100%-owned Kiena Mine Complex located 10 km west of Val d’Or, northern Quebec.
- 94.35 g/t gold over 17.40 metres uncut (18.03 g/t cut) in hole U-6124
- 223.12 g/t gold over 14.25 metres uncut (18.59 g/t cut) in hole U-6125
- 238.81 g/t gold over 5.00 metres uncut (15.71 g/t cut) in hole U-6125
- 8.43 g/t gold over 8.2 metres uncut (3.82 g/t cut) in hole U-6130
Two drills are testing for a repetition of the S-50 Zone along a Z-fold interpretation 200 – 300 metres below existing mine infrastructure at a depth of approximately 1,200 metres. The nominal drill spacing to test this target is 100 metres.
George Mannard, VP Exploration, commented, “These early results exceed expectations, and these rich veins are unlike anything previously encountered at this property. Three holes have been completed to date hitting four high grade intersections. More drilling is underway and is required to define the geometry, true widths and extent of this extraordinarily rich mineralized system.”
At least two quartz veins and quartz vein breccia systems have been observed to date. They occur near altered and deformed komatiite-tholeiitic basalt contacts. Drilling continues with one drill on the 670-metre level drilling eastward to test the north trending arm of the projected Z-fold. The second is drilling south-westward from the 910 metre level testing the southeast trending arm of the projected Z-fold. Multiple occurrences of coarse native gold have been observed in all four intervals. Drilling results and figures can be viewed on the company’s website at www.wesdome.com
The Company’s wholly-owned, contiguous Val d’Or properties cover approximately 7,000 hectares and encompass four former producers, eight shafts and significant mineral resources as outlined in a current NI 43-101 report by independent consulting firm InnovExplo Inc.
The Kiena Mine Complex is a fully permitted, integrated mining and milling infrastructure which includes a 900-metre production shaft and 2,000 tonne per day capacity mill. From 1981 – 2013 the mine produced 1.75 million ounces of gold from 12.5 million tonnes at a grade of 4.5 g/t. The bulk of this production came from the S-50 Zone between depths of 100 and 1,000 metres. In 2013, operations were suspended due to a combination of declining gold prices and lack of development. The infrastructure has been preserved on care and maintenance status.
Wesdome Gold Mines is in its 28th year of continuous gold mining operations in Canada. The company is currently producing gold at the Eagle River Complex near Wawa, Ontario from the Eagle River and Mishi gold mines. Wesdome’s goal is to expand current operations at both mines over the next four years through mill expansion and exploration. Wesdome has significant upside through ownership of its two other properties, the Kiena Mine Complex and the Moss Lake gold deposit located 100 km west of Thunder Bay, Ontario. The company has approximately 129 million shares issued and outstanding.