Ongoing Exloration of Kiena Deep A Zone Continues to Return High Grades and Identifies Significant Up Plunge Potential

 
Download as PDF Published on: September 11, 2018

TORONTO, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces additional high grade results from the ongoing underground exploration drilling of the Kiena Deep A Zone at its 100% owned Kiena Mine Complex, in Val d\'Or, Quebec. Additionally, drilling has identified a well-defined plunge, that extrapolated up plunge into areas of historical drilling, indicates that the mineralization could extend up plunge an additional 250 metres, while the down plunge and down dip extensions of the zone remain open.

Recent drilling has extended the gold mineralization of the A Zone beyond a 350 metre strike length announced in a news release dated June 26, 2018. Today’s drill results have continued to extend the zone of mineralization an additional 50 metres down plunge to the southeast. Following the continued success of the ongoing diamond drill program, the Company took the decision to extend the current exploration platforms by a total of 450 metres to continue to define the possible extension of the Kiena Deep A Zone to the northwest, southeast and down dip. A total of 243 metres of additional development have been completed since July, and is expected to be completed at the end of October.

As this drill drift development continues, 4 drills are in operation on the A Zone and remain focussed on definition drilling in advance on the Q4 resource estimate, with less focus on extension drilling along the margins of the mineralized zone. Since July, a total of 18 holes totalling 5,200 metres have been completed (Figure 1A and 1B). The definition drilling has continued to confirm the overall continuity of the Kiena Deep A Zone and improve our understanding and confidence in the controls on gold mineralization. Highlights of the new drilling are listed below and summarized in Table 1.

 Highlights:

Kiena Deep A Zone

  • Hole 6339: 53.6 g/t Au over 6.2 m core length (18.38 g/t Au cut, 5.3 m true width)
  • Hole 6321: 177.3 g/t Au over 5.1 m core length (6.5 g/t Au cut, 5.1 m true width)
  • Hole 6336: 18.7 g/t Au over 12.9 m core length (7.0 g/t Au cut, 6.8 m true width)
  • Hole 6333: 37.3 g/t Au over 8.4 m core length (6.8 g/t Au cut, 5.8 m true width)
  • Hole 6338: 163.8 g/t Au over 3.0 m core length (13.1 g/t Au over 2.6 m true width)
  • Hole 6338:  14.1 g/t Au over 12.1 m core length (10.3 g/t Au over 11.9 m true width)

All assays cut to 34.28 g.t Au. True widths are estimated.

Recent drilling has identified a well-defined, moderate plunge of approximately 45 degrees to the SE to the gold mineralization that occurs predominantly along the basalt – chlorite-carbonate schist boundary (Figure 2: Longitudinal Section of the Kiena Deep A Zone).  The recent drilling has defined this plunge extending from the 1,600 metre elevation (1,400 m below surface vertically) to the 2,000 metre elevation (1,000 m below surface). Extrapolating this well-defined zone up plunge is in good agreement with two historic holes. Hole 6146 that returned 6.63 g/t over 11.0 metres (core length) from a zone located over 100 metres to the northwest of our current drilling and is interpreted to be the up plunge extension of the A Zone. Furthermore, hole 5976 returned 7.26 g/t Au over 3.0 metres (true width) at the 2,300 metre elevation, or approximately 350 metres vertically above our current drilling level and in excess of 300 metres to the northwest of the currently defined A Zone. Although this area will be the focus for continued drilling, this initial interpretation indicates that the up plunge mineralization could be extended more than 250 metres. Both of these holes intersected quartz veining with visible gold proximal to the projected basalt – chlorite-carbonate schist boundary that is similar in character to the Kiena Deep A Zone currently being drilled.

Additionally, the down plunge and portions of the down dip extension of the A zone remains open.

Mr. Duncan Middlemiss, President and CEO commented, “We are very pleased with the recent drill results that are providing more confidence in the continuity of the deposit and continuing to extend the gold mineralization up and down plunge. Good progress is being made on the additional exploration drift development that will allow us to more effectively test the size of this deposit, and complete infill drilling more quickly. We remain committed to developing a resource estimate in the fourth quarter and this development will greatly aid our understanding of this exciting discovery. We recognize at this time that this will definitely be a ‘snapshot in time’ as we have not closed off the Deep Zone A up plunge, down plunge, and down dip.”

“We are also very excited about the potential up plunge extension of the Kiena Deep A Zone that has been well defined with recent drilling and extrapolated with more historic information. This extension would have the potential to significantly add to the resource base, as it would extend the mineralization over 300 metres higher in elevation than our current drilling level. Additionally, the location of this mineralization would be easily accessible to existing mine development and could be a vital component in any restart scenario.”

TECHNICAL DISCLOSURE

The technical and geoscientific content of this release has been compiled, reviewed and approved by Bruno Turcotte, P.Geo., (OGQ #453) Senior Project Geologist of the Company and a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

Analytical work was performed by Techni-Lab (ActLabs) of Ste-Germaine-Boule (Quebec), a certified commercial laboratory (SCC Accredited Lab #707). Sample preparation was done at Techni-Lab (ActLabs) in Val d\'Or (Quebec).  Assaying was done by fire assay methods and all samples with visible gold were assayed by metallic sieve method at Techni-Lab (ActLabs) laboratory in Ste-Germaine-Boule (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.

ABOUT WESDOME
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 in Wawa, Ontario is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill.  Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d’Or, Quebec.  The Kiena Complex is 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 kilometres west of Thunder Bay, Ontario.  The Company has approximately 134.2 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.

For further information, please contact:

Duncan MiddlemissorLindsay Carpenter Dunlop
President and CEO VP Investor Relations
416-360-3743  ext. 29  416-360-3743  ext. 25
dmiddlemiss@wesdome.com  ldunlop@wesdome.com 
   
220 Bay St, Suite 1200  
Toronto, ON, M5L 1E9  
Toll Free: 1-866-4-WDO-TSX  
Phone: 416-360-3743, Fax: 416-360-7620  
Website: www.wesdome.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 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. The Company has included in this news release certain non-IFRS performance measures, including, but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced.  These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company\'s performance and ability to generate cash flow

Table 1: Kiena Deep Zone A Drilling Results

        
Hole No.From
(m)
To
(m)
Core
Length (m)
Estimated
True width
Grade (g/t
Au)
Cut Grade
(g/t Au)
Name Zone
6289334.7337.02.31.6122.118.31A Zone
        
6321251.4256.55.15.1177.256.47A Zone
        
6321280.8283.62.82.85.675.67A1 Zone
        
6327270.0273.032.713.6213.62A Zone
        
633364.572.98.45.837.346.82A Zone
        
6336552.1565.012.96.818.737.02A Zone
Including558.2565.06.83.634.2011.99A Zone
        
6337175.0178.13.13.03.733.73A2 Zone
        
6338151.9154.93.02.6163.8513.11A Zone
        
6338164.5176.612.111.914.0710.34A1 Zone
        
6339153.9160.16.25.353.6318.38A Zone
        
6339A159.2163.64.43.271.4017.97A Zone
        
6341248.2250.72.52.218.4112.48A Zone
        
6342290.3294.03.73.22.472.47A Zone
        
6342299.8303.33.53.210.1110.11A1 Zone
        
6342364.5370.56.05.45.435.43A2 Zone
        
6349214.5220.66.12.644.097.47A Zone
        
6352453.3456.12.81.71.831.83A Zone
        
6357168.0172.64.64.48.587.73A1 Zone

Assays

       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6289334.7335.60.90.480.48A Zone
6289335.6336.50.91.701.70A Zone
6289336.5337.00.5557.7934.28A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6321251.4252.30.91002.0634.28A Zone
6321252.3253.31.00.070.07A Zone
6321253.3254.20.90.030.03A Zone
6321254.2255.10.90.330.33A Zone
6321255.1255.80.70.300.30A Zone
6321255.8256.50.72.182.18A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6321280.8281.60.814.4114.41A1 Zone
6321281.6282.61.01.881.88A1 Zone
6321282.6283.61.02.462.46A1 Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6327270.0271.01.00.660.66A1 Zone
6327271.0272.01.034.1734.17A1 Zone
6327272.0273.01.06.046.04A1 Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
633364.565.00.516.4416.44A Zone
633365.066.01.00.050.05A Zone
633366.067.01.00.100.10A Zone
633367.068.01.00.020.02A Zone
633368.069.01.00.040.04A Zone
633369.070.01.00.740.74A Zone
633370.070.80.82.392.39A Zone
633370.871.50.798.4734.28A Zone
633371.572.30.82.052.05A Zone
633372.372.90.6386.7034.28A Zone
       
Hole No.From (m)To (m)Core Lenght
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6336552.1552.80.74.284.28A Zone
6336552.8553.30.50.570.57A Zone
6336553.3554.00.71.401.40A Zone
6336554.0554.70.72.392.39A Zone
6336554.7555.50.80.520.52A Zone
6336555.5556.40.91.601.60A Zone
6336556.4557.30.90.900.90A Zone
6336557.3558.20.90.450.45A Zone
6336558.2558.70.511.9011.90A Zone
6336558.7559.40.70.040.04A Zone
6336559.4560.10.70.020.02A Zone
6336560.1560.80.71.161.16A Zone
6336560.8561.60.8127.7234.28A Zone
6336561.6562.10.50.730.73A Zone
6336562.1563.11.0110.6034.28A Zone
6336564.0565.01.012.6412.64A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6337175.0176.11.19.399.39A2 Zone?
6337176.1177.21.10.040.04A2 Zone?
6337177.2177.50.3core not recovered
6337177.5178.10.61.981.98A2 Zone?
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6338151.9152.80.92.032.03A Zone
6338152.8153.60.8599.5334.28A Zone
6338153.6154.40.810.8710.87A Zone
6338154.4154.90.52.782.78A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6338164.5165.51.04.924.92A1 Zone
6338165.5166.51.00.060.06A1 Zone
6338166.5167.51.015.8515.85A1 Zone
6338167.5168.71.20.090.09A1 Zone
6338168.7169.91.221.0321.03A1 Zone
6338169.9171.01.125.0225.02A1 Zone
6338171.0172.11.10.880.88A1 Zone
6338172.1173.21.18.328.32A1 Zone
6338173.2174.21.00.060.06A1 Zone
6338174.2175.41.20.080.08A1 Zone
6338175.4176.61.271.8734.28A1 Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6339153.9154.91.081.4234.28A Zone
6339154.9155.91.00.250.25A Zone
6339155.9156.80.90.890.89A Zone
6339156.8157.30.57.257.25A Zone
6339157.3158.10.88.408.40A Zone
6339158.1159.00.933.9433.94A Zone
6339159.0159.60.673.0034.28A Zone
6339159.6160.10.5330.6634.28A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6339A159.2159.70.523.3723.37A Zone
6339A159.7160.50.814.4514.45A Zone
6339A160.5161.30.84.494.49A Zone
6339A161.3162.20.94.724.72A Zone
6339A162.2163.61.4202.2034.28A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6341248.2249.10.90.110.11A Zone
6341249.1250.00.950.7734.28A Zone
6341250.0250.70.70.350.35A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6342290.3291.10.80.200.20A Zone
6342291.1292.00.98.658.65A Zone
6342292.0293.01.01.101.10A Zone
6342293.0294.01.00.100.10A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6342299.8300.81.022.0722.07A1 Zone
6342300.8301.30.519.2119.21A1 Zone
6342301.3302.31.00.400.40A1 Zone
6342302.3303.31.03.303.30A1 Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6342364.5366.01.53.783.78A2 Zone
6342366.0367.31.33.403.40A2 Zone
6342367.3368.31.00.060.06A2 Zone
6342369.0369.70.71.201.20A2 Zone
6342369.7370.50.826.9726.97A2 Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6349214.5215.20.728.1828.18A Zone
6349215.2216.00.80.210.21A Zone
6349216.0216.50.5481.0634.28A Zone
6349216.5217.00.50.790.79A Zone
6349217.0217.50.50.980.98A Zone
6349217.5218.00.52.562.56A Zone
6349218.0219.01.01.071.07A Zone
6349219.0219.60.60.200.20A Zone
6349219.6220.61.05.205.20A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6352453.3454.51.23.523.52A Zone
6352454.5455.30.80.220.22A Zone
6352455.3456.10.80.920.92A Zone
       
Hole No.From (m)To (m)Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6357168.0169.01.038.1934.28A1 Zone
6357169.0170.01.00.040.04A1 Zone
6357170.0170.70.70.030.03A1 Zone
6357171.0171.80.80.030.03A1 Zone
6357171.8172.60.81.491.49A1 Zone
       

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