Wesdome Gold Mines Ltd. -- Dubuisson North drilling cuts 45.05 g/t Au over 5.0 metres; new S50 East discovery, 3.39 g/t Au over 25.9 metres

TORONTO, Nov. 19, 2014 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) today announces the results of its summer drilling program at its Kiena property in Val d'Or, Quebec. Sixteen holes totalling 6,300 metres were drilled.  The main target was definition and step-out drilling at 50 metre centers on the Dubuisson North Zone where 2 holes drilled in 2012 identified 2 parallel lenses of strong gold mineralization (see Press Release dated June 13^th 2012 available at www.wesdome.com).

Additionally, 2 holes were drilled 300 metres east of the Kiena S50 Zone to test a regional structure and discovered broad zones of S50 Zone style mineralization at shallow depths.  Highlights are summarized below.  Appended tables and figures provide detailed drill hole location data, assay results over core length, a cross-section and 2 surface plans.

Mr. Rolly Uloth, President and CEO, commented, "The objective of this drilling program was to identify continuity at the Dubuisson North Zone, which was successful.  Results returned several multi gram intersections over mineable widths which will permit an initial resource estimation.  In addition, when drill testing the area, 300 metres east of the Kiena S50 Zone, both holes collared directly in S50 Zone style of mineralization, in a previously untested area.  The Kiena operation remains on care and maintenance currently, but the Company is continuing to explore the property with the goal of defining an economic mineral resource."

DUBUISSON NORTH 2012 HIGHLIGHTS

• 16.75 gAu/tonne over 12.5 m
• 10.65 gAu/tonne over 4.3 m
• 7.26 gAu/tonne over 3.2 m
• 2.22 gAu/tonne over 8.5 m

DUBUISSON NORTH 2014 HIGHLIGHTS

S50 EAST DISCOVERY

• 45.05 gAu/tonne over 5.0 m in hole S755
• 3.36 gAu/tonne over 4.1 m in hole S756
• 2.93 gAu/tonne over 4.2 m and 11.17 gAu/tonne over 1.0 m in hole S757
• 3.75 gAu/tonne over 6.3 m in hole S760
• 3.17 gAu/tonne over 5.2 m and 5.62 gAu/tonne over 4.2 m in hole S761
• 4.81 gAu/tonne over 5.0 m and 3.62 gAu/tonne over 4.0 m and
• 4.59 gAu/tonne over 4.8 m in hole S763
• 5.41 gAu/tonne over 4.0 m and 2.99 gAu/tonne over 2.0 m in hole S765A
• 12.40 gAu/tonne over 1.0 m in hole S766

• 2.92 g Au/tonne over 10.4 m in hole S768
• 3.39 g Au/tonne over 25.9 m in hole S769

DUBUISSON NORTH

At least two steeply dipping lenses have been partially delineated and defined above a depth of 300 metres.  Mineralization consists of stockwork quartz-tourmaline veining carrying pyrite and native gold and is hosted by feldspar porphyry sills encased in komatiites and talc-chlorite schist (see figures 1 and 2).  Continuity appears sufficient to determine initial resources in the Dubuisson North area.

S50 EAST DISCOVERY

Holes S768 and S769 were collared from the same set-up located 300 metres east of the Kiena Mine workings.  Both holes collared directly in mineralization, hence, true widths have yet to be determined.  The two holes intersected broad intervals of typical S50 stockwork and breccia style mineralization along a key ultramafic contact defined by magnetic surveys (see Figure 3).  This contact area spanning a significant 400 metre length has not been previously drilled.  The S50 Zone was the mainstay of Kiena's historic production.  It remains open at depth and now potentially towards the east.  Its historic production amounts to 1.5 million ounces from 10 million tonnes at a recovered grade of 4.75 grams per tonne.

TECHNICAL DISCLOSURE

The technical content of this press release has been compiled and verified by Marc Ducharme, P.Geo. OGQ, Exploration Geologist, Kiena Mine in his capacity as a "Qualified Person", as per requirements of National Instrument 43-101.  Sample preparation was done at Techni-Lab (ActLabs) in Val d'Or (Quebec) and assaying was done by fire assay methods at Techni-Lab (ActLabs) laboratory in Ste-Germaine-Boulé (Quebec).  In addition to laboratory internal duplicate, standards and blanks, the geology department inserts blind standards and blanks into the sample stream at a frequency of one in twenty to monitor quality control.

ABOUT WESDOME
Wesdome Gold Mines Ltd. is in its 28^th year of continuous gold mining operations in Canada that employs a profit growth approach to operations.  The Company is currently producing from its Eagle River and Mishi gold mines in Wawa, Ontario, which have earned consistent free cash flow during times of low gold prices. Wesdome's corporate goal is to build a profitable, long-life, sustainable gold mining Company with modest initial capital costs. This strategy has enabled the Company to acquire strategic property and infrastructure assets in two politically stable and historically proven mining camps. Wesdome has significant upside through ownership of its two other properties, the Kiena Mine Complex in Val d'Or, Québec and the Moss Lake gold deposit located 100 kilometres west of Thunder Bay, Ontario.  These assets are being explored and evaluated to be developed in the appropriate gold price environment. The Company has approximately 111.1 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.

Table 1: DRILL HOLE LOCATION AND PARAMETERS

 

Table 2: DUBUISSON NORTH & S-50 SECTORS – SIGNIFICANT INTERSECTIONS

SOURCE Wesdome Gold Mines Ltd.

Image with caption: "Dubuisson North Plan View Surface Drilling Location (CNW Group/Wesdome Gold Mines Ltd.)". Image available at: http://photos.newswire.ca/images/download/20141119_C5374_PHOTO_EN_8253.jpg

Image with caption: "Dubuisson North Section (CNW Group/Wesdome Gold Mines Ltd.)". Image available at: http://photos.newswire.ca/images/download/20141119_C5374_PHOTO_EN_8250.jpg

Image with caption: "S-50 East Drill Hole location Plan (CNW Group/Wesdome Gold Mines Ltd.)". Image available at: http://photos.newswire.ca/images/download/20141119_C5374_PHOTO_EN_8251.jpg

For further information: Lindsay Dunlop, Vice President, Investor Relations, 416-360-3743 ext 25, ldunlop@wesdome.com; or George Mannard, P.Geo., Vice President, Exploration, 416-360-3743 ext 22, 8 King St. East, Suite 1305, Toronto, ON, M5C 1B5, Toll Free: 1-866-4-WDO-TSX, Phone: 416-360-3743, Fax: 416-360-7620, Email: invest@wesdome.com, Website: www.wesdome.com