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Wesdome Confirms Continuity of the S50 East and Presqu'Ile Zones at Val d'Or Properties
Published : June 25, 2015
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Mots clés associés :   Canada | Nsa | Report |

Wesdome Confirms Continuity of the S50 East and Presqu'Ile Zones at Val d'Or Properties

TSX: WDO

Hole S783 intersects 89.72 g Au/tonne over 3.1 metres

TORONTO, June 25, 2015 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is pleased to announce the results of the winter drilling program at its Kiena property in Val d'Or, Quebec. The drill program consisted of thirty (30) holes totalling 7,097 metres to explore S50 East zone extension near the Kiena shaft and also to test the continuity of the Presqu'ile zone towards the west. (See press releases dated November 19, 2014, and February 27, 2013, available at www.wesdome.com).

Twenty-three holes totaling 5,129 metres were drilled to explore the continuity of the S50 East where two (2) holes drilled in 2014 had identified broad intersections of S50 style mineralization at shallow depths. The surface definition drilling of the S50 East spanned 250 metres at 50 metre centres from approximately 250 metres east of the Kiena S50 zone. Additionally, seven holes (7) totaling 1,968 metres were drilled to test the continuity of the Presqu'ile area towards the west. Drilling highlights are summarized below. The appended tables and figures provide detailed drill hole location data, average gold grades over drill core intervals, surface plans and longitudinal sections.

Mr. Rolly Uloth, President and CEO, commented, "The 2015 winter drilling program confirmed continuity of the S50 East zone at shallow depth and confirmed the high grade multi-vein potential of the Presqu'ile area. Wesdome has commissioned an independent 43-101 technical study on its extensive and contiguous Val d'Or land position. We believe this study will comprehensively inventory our significant resource base, mining and processing infrastructure and outstanding brownfields exploration and development potential."

S50 EAST HIGHLIGHTS

  • 5.83 g Au/tonne over  12.6 metres in hole S771
  • 40.55 g Au/tonne over   3.0 metres in hole S775

PRESQU'ILE HIGHLIGHTS

  • 26.85 g Au/tonne over   5.9 metres in hole S780
  • 89.72 g Au/tonne over   3.1 metres in hole S783

ABOUT THE VAL D'OR PROPERTIES
Wesdome's Val d'Or land position consists of a contiguous block of mining claims and concessions covering in excess of 7,300 hectares. This 8 kilometre by 9 kilometre block includes 10 shafts, greater than 2.8 million ounces of historic gold production and a central modern mining, 2,000 tonnes per day milling and refining complex currently on care and maintenance. The Company is actively assessing various development scenarios, actively exploring its claims and compiling an updated 43-101 compliant technical report. This rare combination of modern, fully permitted infrastructure and extensive contiguous property ownership in a proven, world class gold mining camp resulted from a decades long consolidation effort. We consider it a premiere brownfields exploration and development opportunity.

The Kiena area currently contains mineral resources of 4,313,000 tonnes at an average grade of 3.7 grams of gold per tonne for 513,000 ounces in the measured and indicated resources category (2014 Wesdome Annual Information Form, www.sedar.com).

Approximately three kilometres north of the Kiena shaft, the Wesdome deposit contains an additional 336,000 tonnes at an average grade 7.5 grams of gold per tonne for 80,000 ounces in the measured and indicated resources category, and 2,311,000 tonnes at an average grade of 8.0 grams of gold per tonne for 598,000 ounces in the inferred resource category (43-101 Technical Report, dated Dec 8, 2009, www.sedar.com).

S50 EAST ZONE
The S50 East zone consists of broad lenticular intervals of typical S50 stockwork and breccia style mineralization hosted within deformed mafic volcanics bounded by ultramafic rocks defined by magnetic surveys (see Figure 1). The 2015 winter drilling program has confirmed continuity of the S50 zone at shallow depths along a southeast trend (see Figure 2). The S50 zone was the mainstay of Kiena's historic production and it remains open at depth. Its historic production amounts to 1.5 million ounces from 10 million tonnes at a recovered grade of 4.75 grams of gold per tonne.

Drilling in 2015 confirmed a shallow up plunge extension to the east of the S50 zone with a strike length of 150 metres and extending to 100 metres depth (see figure 2).

PRESQU'ILE ZONE
The Presqu'ile zone is located 1.5 kilometres northwest of the Kiena shaft. The "Presqu'ile zone" mineralization consists of an "en-echelon" array of sub-parallel steep northeasterly dipping quartz-carbonate (+/-chlorite and pyrite) veins with local chalcopyrite and native gold. The mineralized veins are mainly hosted by mafic volcanic tuffs and flows near the contact with komatiite flows along the northwest trending "Marbanite shear" (see Figure 3). Initially during 2012-2013, two mineralized vein structures were delineated at Presqu'ile. The 2015 winter drilling program intersected two additional closely spaced mineralized vein structures towards the northwest. The best 2015 drill intercepts at Presqu'ile returned 89.72 g/t Au (uncut) over 3.1 metres from 95.5 to 98.6 metres in hole S783 and 26.85 g/t Au (uncut) over 5.9 meters of core from 64.3 to 70.2 metres in hole S780 (see Figure 4 and Figure 5).

Drilling in 2015 confirms potential of the Presqu'ile area to host a multi-vein system of above average grade at shallow depth.

TECHNICAL DISCLOSURE
The technical content of this press release has been compiled and verified by Marc Ducharme, P.Geo. OGQ, Chief Exploration Geologist, Wesdome Gold Mines Ltd. 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 duplicates, standards and blanks, the geology department inserts blind duplicates, standards and blanks into the sample stream at a frequency of one in twenty to monitor quality control.  Mineral Resource estimates incorporated by reference, were completed by the following "Qualified Persons," Kiena: Marc Ducharme, P.Geo, Chief Exploration Geologist, Wesdome Gold Mines Ltd. Adjoining Wesdome Project: B.Turcotte, P.Geo and C.Pelletier, P.Geo, InnovExpo - Consulting Firm, Independent.

ABOUT WESDOME
Wesdome Gold Mines Ltd. is in its 28th year of continuous gold mining operations in Canada. The Company is currently producing from its Eagle River and Mishi gold mines near 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 Val d'Or Property in 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 t 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

DRILL
HOLE
TARGET EASTING (m)
UTM18NAD83
NORTHING (m)
UTM18NAD83
ELEVATION
(m)
AZIMUTH DIP LENGTH
DRILLED
(m)
S770 S50 East 283394 5333440 295 30 -51 231
S771 S50 East 283372 5333400 295 28 -50 249
S772 S50 East /South Zone East 283371 5333398 295 210 -50 420
S773 S50 East 283344 5333359 295 30 -50 264
S774 S50 East 283440 5333414 295 31 -52 183
S775 S50 East 283354 5333467 295 30 -51 228
S776 S50 East 283329 5333426 295 31 -50 222
S777 S50 East 283302 5333385 295 31 -50 261
S778 S50 East 283382 5333512 295 30 -50 157.5
S779 S50 East 283481 5333388 295 30 -50 144
S780 Presqu'ile 281589 5334700 296 208 -53 291
S781 Presqu'ile 281589 5334700 295 208 -73 276
S782 Presqu'ile 281589 5334700 295 208 -87 345
S783 Presqu'ile 281590 5334700 296 195 -63 285
S784 Presqu'ile 281590 5334700 296 173 -73 291
S785 Presqu'ile 281545 5334726 295 210 -50 246
S786 Presqu'ile 281545 5334726 295 197 -63 234
S787 S50 East 283415 5333372 294 30 -50 228
S788 S50 East 283388 5333329 295 30 -55 235
S789 S50 East 283362 5333285 295 29 -55 222
S790 S50 East 283362 5333285 295 29 -80 238
S791 S50 East 283401 5333261 295 30 -50 192
S792 S50 East 283446 5333234 295 29 -50 210
S793 S50 East 283429 5333303 295 30 -50 249
S794 S50 East 283471 5333274 295 30 -50 231
S795 S50 East 283455 5333346 295 30 -50 187.5
S796 S50 East 283498 5333317 295 29 -50 144
S797 S50 East 283463 5333165 295 29 -50 261
S798 S50 East 283508 5333333 295 211 -50 231
S799 S50 East 283394 5333250 295 30 -71 141

Table 2: S50 SE & PRESQU'ILE ZONES - COMPOSITE ASSAY RESULTS

Hole No. Target From
(metres)
To
(metres)
Core length
(metres)
Est. True Width
(metres)
Grade
(gAu/tonne)
Cut Grade
(cut to 34.28
gAu/tonne)
S770 S50 East 13.2 22.3 9.1 8.1 0.86 0.86
S771 S50 East 16.3 55.7 39.4 34.7 2.45 2.22
S771 S50 East (incl.) 37.4 50.0 12.6 11.1 5.83 5.12
S771 S50 East 68.0 71.0 3.0 2.6 2.38 2.38
S772 S50 East 174.0 177.0 3.0 0.7 3.60 3.60
S772 South Zone East 316.4 317.8 1.4 0.4 3.10 3.10
S772 South Zone East 388.5 393.0 4.5 1.1 1.21 1.21
S773 S50 East 50.7 58.2 7.5 6.7 1.21 1.21
S773 S50 East 66.2 75.0 8.8 7.8 0.86 0.86
S774 S50 East         NSA NSA
S775 S50 East 23.9 36.9 13.0 11.7 1.50 1.50
S775 S50 East 48.0 51.0 3.0 2.7 40.55 13.62
S775 S50 East 56.0 67.0 11.0 9.9 2.45 2.45
S775 S50 East 69.0 77.0 8.0 7.2 1.00 1.00
Hole No. Target From
(metres)
To
(metres)
Core length
(metres)
Est. True Width
(metres)
Grade
(gAu/tonne)
Cut Grade
(cut to 34.28
gAu/tonne)
S775 S50 East 81.0 84.3 3.3 3.0 3.07 3.07
S775 S50 East 100.2 106.1 5.9 5.4 0.98 0.98
S776 S50 East 71.0 77.0 6.0 5.4 0.98 0.98
S776 S50 East 77.0 85.0 8.0 7.3 2.82 2.82
S776 S50 East 87.0 99.0 12.0 10.9 2.25 2.25
S776 S50 East 99.0 116.0 17.0 15.5 0.88 0.88
S776 S50 East 134.0 136.0 2.0 1.8 1.46 1.46
S777 S50 East 98.6 99.6 1.0 0.9 1.13 1.13
S777 S50 East 117.7 127.4 9.7 8.5 0.37 0.37
S777 S50 East 130.5 132.0 1.5 1.3 1.83 1.83
S777 S50 East 147.2 155.5 8.3 7.4 0.50 0.50
S777 S50 East 170.3 173.0 2.7 2.4 0.97 0.97
S778 S50 East         NSA NSA
S779 S50 East         NSA NSA
S780 Presqu'ile 64.3 70.2 5.9 5.6 26.85 10.59
S780 Presqu'ile 78.0 80.3 2.3 2.2 2.41 2.41
S780 Presqu'ile 276.9 277.6 0.7 0.7 4.54 4.54
S781 Presqu'ile 105.0 107.0 2.0 1.6 0.75 0.75
S782 Presqu'ile 279.4 280.3 0.9 0.5 0.15 0.15
S783 Presqu'ile 88.9 91.5 2.6 2.3 1.77 1.77
S783 Presqu'ile 95.5 98.6 3.1 2.8 89.72 25.54
S783 Presqu'ile 223.8 224.6 0.8 0.6 1.00 1.00
S784 Presqu'ile 102.0 104.9 2.9 2.3 2.27 2.27
S785 Presqu'ile 165.1 167.5 2.4 1.2 0.12 0.12
S786 Presqu'ile 102.6 103.6 1.0 0.9 1.09 1.09
S786 Presqu'ile 153.3 156.3 3.0 2.1 2.41 2.41
S786 Presqu'ile 160.3 163.3 3.0 2.1 0.90 0.90
S787 S50 East 28.5 30.8 2.3 2.0 0.28 0.28
S788 S50 East 57.2 58.2 1.0 0.9 2.55 2.55
S788 S50 East 71.9 72.9 1.0 0.9 0.99 0.99
S789 S50 East 99.5 100.9 1.4 1.2 1.47 1.47
S789 S50 East 110.8 113.9 3.1 2.7 1.03 1.03
S790 S50 East 98.7 103.5 4.8 3.8 0.53 0.53
S790 S50 East 128.7 132.8 4.1 3.2 0.97 0.97
S790 S50 East 180.4 188.1 7.7 6.2 1.19 1.19
S790 S50 East 183.0 186.0 3.0 2.4 2.36 2.36
S791 S50 East 52.3 55.9 3.6 3.2 3.27 3.27
S791 S50 East 67.9 70.0 2.1 1.9 1.58 1.58
S791 S50 East 72.0 75.0 3.0 2.7 2.70 2.70
S791 S50 East 79.4 85.4 6.0 5.3 0.87 0.87
S791 S50 East 103.0 106.0 3.0 2.7 3.13 3.13
S792 S50 East 29.4 30.8 1.4 1.2 0.86 0.86
S792 S50 East 33.5 35.0 1.5 1.3 2.50 2.50
S793 S50 East 58.0 60.0 2.0 1.8 1.30 1.30
S793 S50 East 193.6 194.8 1.2 1.1 1.10 1.10
S794 S50 East         NSA NSA
S795 S50 East 185.7 186.7 1.0 0.9 0.22 0.22
S796 S50 East         NSA NSA
S797 S50 East         NSA NSA
S798 S50 East         NSA NSA
S799 S50 East 75.3 76.3 1.0 0.8 1.21 1.21
S799 S50 East 86.0 91.3 5.3 4.5 0.63 0.63
S799 S50 East 97.1 99.1 2.0 1.7 1.63 1.63
S799 S50 East 108.1 109.1 1.0 0.9 0.48 0.48

NSA = No significant assay

Figure 1:  S50 SE - DDH Results Highlights Plan

Figure 2: S50 SE Longitudinal Section

Figure 3:  Local Geology Presqu'ile

Figure 4:  Presqu'ile Longitudinal

Figure 5:  Presqu'ile Drill Section

 

SOURCE Wesdome Gold Mines Ltd.

PDF available at: http://stream1.newswire.ca/media/2015/06/25/20150625_C9916_DOC_EN_43833.pdf

PDF available at: http://stream1.newswire.ca/media/2015/06/25/20150625_C9916_DOC_EN_43834.pdf

PDF available at: http://stream1.newswire.ca/media/2015/06/25/20150625_C9916_DOC_EN_43835.pdf

PDF available at: http://stream1.newswire.ca/media/2015/06/25/20150625_C9916_DOC_EN_43836.pdf

PDF available at: http://stream1.newswire.ca/media/2015/06/25/20150625_C9916_DOC_EN_43837.pdf

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., Suite 811
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

Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Wesdome Gold Mines Ltd.

PRODUCTEUR
CODE : WDO.TO
ISIN : CA95083R1001
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Wesdome est une société développant des projet miniers d'or basée au Canada.

Wesdome détient divers projets d'exploration au Canada.

Ses principaux projets en production sont EAGLE RIVER et KIENA au Canada, son principal projet en développement est MISHI au Canada et ses principaux projets en exploration sont DUBUISSON DISCOVERY, WESDOME PROJECT, MAGNACON, SHAWKEY et EDWARDS MINE - WESTERN QUEBEC MINES au Canada.

Wesdome est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,8 milliards CA$ (1,3 milliards US$, 1,2 milliards €).

La valeur de son action a atteint son plus bas niveau récent le 19 juillet 2013 à 0,32 CA$, et son plus haut niveau récent le 08 juillet 2020 à 13,54 CA$.

Wesdome possède 132 550 000 actions en circulation.

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12/11/2012Reports Further Improvement in Earnings and Cash in Q3 2012
12/09/2012at the Denver Gold Forum
01/09/2011- New Gold Prospect Identified Along The Cadillac Break
05/08/2011announces TSX approval of normal course issuer bid
21/04/2011at the European Gold Forum
01/04/2011PLANS AGGRESSIVE DRILLING AND DEVELOPMENT PROGRAM IN 2011
05/07/2010Moss Lake Adds Two New Directors
05/11/2009Pukaskwa Drilling to Commence
24/06/2009Announces Intention to make a Normal Course Issuer Bid
24/01/2008 Website Updates
10/01/2008On BNN, Wednesday, January 9, 2008
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