Wesdome owns the Moss Lake property located in the Shebandowan Greenstone Belt, 100 kilometres due west of Thunder Bay, Ontario.
The property hosts the Moss Lake gold deposit, a large tonnage-low grade deposit amenable to surface bulk mining methods.
The deposit hosts Indicated Resources of 40 million tonnes at 1.1 gAu/tonne and additional Inferred Resources of 50 million tonnes at 1.1 gAu/tonne.
A 43-101 Preliminary Economic Analysis dated May 31, 2013, yielded an after tax net present value of $276 million and an after tax IRR of 15% at a Canadian dollar gold prize of $1,629 per ounce (5% discounted).
On April 7, 2016, the Company announced the purchase of adjoining properties. This consolidates land and expands exploration potential. The Moss Lake deposit is the Company’s largest resource providing significant optionality on gold prices and an opportunity to quadruple gold production given favourable economic conditions
Moss Lake - Coldstream Acquisition April 2016
Moss Lake Project Optionality
Moss Lake Property Mineral Resources
|Mine||Category||Tonnes||Grade (gAu/tonne)||Gold Ounces|
|Moss Lake||M + I||39,795,000||1.1||1,377,000|
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Wesdome - Moss Lake
The contents of this page have been verified and approved by the Company’s VP Exploration, George Mannard, P. Geo, a “Qualified Person” for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Please refer to Company AIF available on the Company’s website and sedar.com