Wesdome Gold Mines maintain 2020 gold production guidance

The Wesdome Gold Mines Kiena gold mine near Val d’Or, Quebec.

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Wesdome Gold Mines Ltd. [WDO-TSX; WDOFF-OTC] announces its gold production results for the first quarter of 2020 (Q1).

Duncan Middlemiss, President and CEO, said, “First quarter production of 25,122 ounces was within budget; however, grade was slightly lower due to stope sequencing. Mill feed increased by 34% to 735 tonnes per day compared to Q1 2019.

“With the COVID-19 pandemic occurring at the end of Q1 and subsequent health and safety actions taken, we expect slightly lower production in Q2 compared to Q1. As part of these health and safety protocols, we have shut down the Mishi Open Pit and have moved to a reduced workforce in other areas at the Eagle River Complex located 50 km west of Wawa, northern Ontario.

“Despite these reductions in activities, we are maintaining our full year production guidance of 90,000 – 100,000 ounces due to flexibility in stope sequencing. Currently, the company expects to resume drilling and development work at Kiena 10 km west of Vasl d’Or, Quebec during the week of May 4, 2020 and the impact of this six week shutdown has significantly tightened our timeframe of getting to a restart decision by the end of 2020. The timing of this will be evaluated and communicated to the market in Q3.”

 

Wesdome Gold Mines has had over 30 years of continuous gold mining operations in Canada.  The company is 100% Canadian focused with a pipeline of projects in various stages of development.  The Eagle River Complex is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill. Wesdome is also exploring its brownfields asset, the Kiena Complex, a fully permitted former mine with a 930-metre shaft and 2,000 tonne-per-day mill. The Company has further upside at its Moss Lake gold deposit, located 100 km west of Thunder Bay, Ontario.  Wesdome Gold Mines has approximately 137.2 million shares issued and outstanding.


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