Wesdome Gold Mines Ltd.

Published : November 05th, 2009

Pukaskwa Drilling to Commence

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Keywords :   Gold | Gold Mines | Gold Producer | K Street |

 

 

 

 

 

 

JOINT PRESS RELEASE

 

PUKASKWA DRILLING TO COMMENCE

 

Wawa, Ontario - November 5, 2009 - Wesdome Gold Mines Ltd. ("Wesdome") is pleased to announce a drilling program will soon commence on the Pukaskwa property located 15 kilometres west of the Eagle River Mill [Figures 1,2].  Wesdome has an option to earn a 60% interest in the Pukaskwa property from Windarra Minerals Ltd. ("Windarra") by incurring mineral exploration expenditures of $3.0 million prior to June 30, 2014.

 

The program scope involves 3,000 metres of drilling in about 25 drill holes.  Drilling will focus on the Middle Finger Lake zone (MFLZ) and provide preliminary drill testing of the Bonanza zone.  Drilling should be completed prior to Christmas [Figures 3,4].

 

The purpose of the drilling is to establish the size potential and continuity of the MFLZ and provide initial drill testing of the Bonanza zone.

 

Highlights of limited previous shallow drilling on the MFLZ include the following intersections.  Complete results, surface plans and drill sections are documented in a Press Release dated October 26, 2007 and available at www.windarra.com.

 

Middle Finger Lake Zone Highlights

?                        4.16 gAu/tonne over 6.55 metres

inc. 8.78 gAu/tonne over 2.80 metres,

 

?                        3.41 gAu/tonne over 9.04 metres

inc. 9.37 gAu/tonne over 3.24 metres,

 

?                        1.07 gAu/tonne over 20.50 metres

inc. 4.48 gAu/tonne over 2.70 metres,

 

?                        3.14 gAu/tonne over 13.15 metres

inc. 7.25 gAu/tonne over 3.90 metres, and

 

?                        1.49 gAu/tonne over 16.10 metres

inc. 7.40 gAu/tonne over 2.96 metres

 


The MFLZ mineralization is cored by quartz-tourmaline flooding with a broad semi-massive to disseminated sulphide halo composed of arsenopyrite, pyrrhotite, pyrite, chalcopyrite, sphalerite and galena.  It is shallowly-dipping and hosted by metasedimentary rocks of the Mishibishu greenstone belt.  Its broad widths, extensive, correlated induced polarization response and soil geochemical signature suggest to Wesdome this may be a very large mineralized system.  The MFLZ was discovered by trenching soil geochemistry anomalies in an overburden, covered area in 2006.

 

The Bonanza zone was also discovered by trenching soil geochemistry anomalies in 2006.  It is located about 500 metres southwest of the MFLZ.  It is a narrow, sugary, quartz vein containing abundant visible gold.  It can be traced for 30 metres along strike before disappearing under overburden.  It is up to 1 foot wide on surface and has returned very high grades in channel sampling (see Press Release dated July 25, 2006 and available at www.windarra.com).  It has never been drilled and Wesdome is hopeful it may widen at depth as was the case with the No. 2 zone at its nearby Eagle River mine.

 

This Press Release was prepared by George Mannard, PGeo. and Vice President, Exploration, Wesdome Gold Mines Ltd. and "Qualified Person" as per NI43-101.  Field work is supervised by Daniel Lapointe, PGeo., Exploration Geologist and "Qualified Person" as per NI43-101.

 

* * * * *

 

Wesdome is an established Canadian gold producer with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Qu?bec.  Wesdome has been producing gold continually for 20 years on an unhedged basis and to date has produced in excess of 1.0 million ounces.  The Company has 100.2 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".

 

For further information respecting Wesdome, please contact:

 

Rowland Uloth                                     Donovan Pollitt, P.Eng.

President                                             VP Corporate Development

 

Wesdome Gold Mines Ltd.

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

 

 

* * * * *

 

Windarra Minerals Ltd. is an established Canadian exploration company.  It has actively been involved in exploration and development projects in the Mishibishu Greenstone belt for 20 years, and holds a further 100% interest in the two Mishi mining leases consisting of approximately 705 hectares in the Mishibishu Lake township and a 25% interest in the Magnacon East property.  It has 30.7 million shares outstanding and trades on the TSX Venture Exchange under the symbol "WRA".

 


For further information respecting Windarra, please contact:

 

John Pallot

President

 

Windarra Minerals Ltd.

2300 - 1066 West Hastings Street, Vancouver, BC, V6E 3X2

Tel: (604) 688-1508 Fax: (604) 601-8253

Email: info@windarra.com, Website: www.windarra.com

 

 

* * * * *

 

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 companies and their 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 companies 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 companies disclaim 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 companies  undertake 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.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Figure 1: Pukaskwa Location Map

 

 

 

Figure 2: Pukaskwa Property Map

 

 

Figure 3: MFLZ Historic and Proposed Drilling

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Figure 4: MFLZ Outcrop, October 2009.  Geologists for scale.

 

 

Susan Tessman, Corporate Secretary

Messina Minerals Inc.

Windarra Minerals Ltd.

Westward Explorations Ltd.

2300-1066 W. Hastings St.

Vancouver, B.C. V6E 3X2

Ph: 604.688.1508

Fx: 604.601.8253

 

Wesdome Gold Mines Ltd.

PRODUCER
CODE : WDO.TO
ISIN : CA95083R1001
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Wesdome is a gold development stage company based in Canada.

Wesdome holds various exploration projects in Canada.

Its main assets in production are EAGLE RIVER and KIENA in Canada, its main asset in development is MISHI in Canada and its main exploration properties are DUBUISSON DISCOVERY, WESDOME PROJECT, MAGNACON, SHAWKEY and EDWARDS MINE - WESTERN QUEBEC MINES in Canada.

Wesdome is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.5 billions as of today (US$ 1.1 billions, € 996.8 millions).

Its stock quote reached its lowest recent point on July 19, 2013 at CA$ 0.32, and its highest recent level on July 03, 2020 at CA$ 11.46.

Wesdome has 132 550 000 shares outstanding.

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