300 West Structure recent results, longitudinal view looking north. — Photo courtesy Wesdome Gold Mines TORONTO, Aug. 23, 2017 (GLOBE NEWSWIRE) -- W
300 West Structure recent results, longitudinal view looking north. — Photo courtesy Wesdome Gold Mines
TORONTO, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO) is pleased to update drilling progress in the 300W area of its wholly-owned Eagle River Mine, Wawa, Ontario.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/541d90af-9018-4d78-ad47-d730c6080bb7
Since the up-plunge potential of the 300W area was initially recognized (Press Release dated Sept 15, 2016), drilling has continued to confirm potential (Press Release dated April 27, 2017). We have now traced the zone 300 metres up-plunge where it appears to lengthen and remains open.
HIGHLIGHTS INCLUDE:
- Hole 890-E-72 48.14 g/t Au cut over 1.82 m True Width
- Hole 890-E-80 23.39 g/t Au cut over 1.52 m True Width
- Hole 890-E-96 23.50 g/t Au cut over 1.49 m True Width
- Hole 890-E-97 35.38 g/t Au cut over 1.52 m True Width
- Hole 890-E-102 18.20 g/t Au cut over 1.52 m True Width
- Hole 890-E-103 30.81 g/t Au cut over 1.51 m True Width
- Hole 890-E-104 41.99 g/t Au cut over 2.72 m True Width
- Hole 890-E-107 30.58 g/t Au cut over 1.51 m True Width
*high assays are cut (capped) at 140 g/t Au
Duncan Middlemiss, President and CEO, commented “These new results are in a very desirable location with respect to existing development. We are currently developing an exploration/access drive to this area on the 750 m level. Expanding resources at shallower depth that remain open and easily accessible support our plan to open up new working areas and increase underground production. Additionally, the grades of this 300 West extension are above the existing mine reserve grade which bode well for near term production.”
“The recent exploration success and near term potential of the Eagle River Mine parallel zones, which includes the high grade and above average width 300 E Zone, and the 7 Zone, have certainly given us cause to re-evaluate our near term plans. The 300 and 7 Zones are located north of the 8 Zone, which has been in production for the majority of the mine life and extends to the eastern extents of the mine diorite. Our focus will be to systematically explore for the presence of the parallel zones to the east with the goal of adding additional workplaces and increasing our production profile.”
The 300W area consists of steeply dipping, tabular, shear hosted quartz veins which occur in a quartz diorite stock near its contact with volcanic rocks. The 300W remains open to the west and above as illustrated in Figure 1.
TECHNICAL DISCLOSURE
All assays are performed by fire assay on 25 gram aliquots at the Eagle River Mine assay office. Duplicates, replicates and blanks are routinely employed to monitor quality control. The technical content of this release has been compiled, reviewed and approved by George N. Mannard, P.Geo, Vice-President Exploration and “Qualified Person” as defined and required by National Instrument 43-101 “Standards of Disclosure for Mineral Projects.”
ABOUT WESDOME
Wesdome Gold Mines is in its 30th year 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, which is being explored and evaluated to be developed in the appropriate gold price environment. The Company has approximately 133.9 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO.”
