Wesdome provides update on Eagle River Mine surface exploration drilling, confirms presence of gold

The Eagle River complex consists of two claim groups - the Eagle River Underground Mine and the Mishi Open Pit mine, shown here. — Photo courtesy Wesdome Gold Mines Ltd.

Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) recently announced initial surface exploration drilling results from the ongoing 2019 exploration activities at the Company’s wholly-owned Eagle River Mine in Wawa, Ontario.

Since the beginning of 2019, surface drilling has continued with one drill adding 7,000 metres (“m”) to follow up on initial results from the drilling to the west of the mine diorite in late 2018. This program was designed to test the up-plunge potential of the 300 and 7 zones within a sequence of volcanic rocks.

Surface drilling in the volcanics to the west of the mine diorite encountered two sub-parallel structures that broadly follow the stratigraphy within the mafic/felsic volcanic rocks. Both structures strike approximately 240-250° and dip 70-80° to the north. These could be extensions of the 300 and 7 zone structures which lie approximately 200 m to the east within the mine diorite. Both structures exhibit broad zones of deformed rock (3-20 m wide shear zones) affiliated with strong silicification over 20-50 m width. The two new mineralized zones identified by surface drilling define an area termed the Falcon Zones.

The "Falcon 300" has been traced over 100 m strike length and 150 m down dip. Gold mineralization is associated with narrow quartz veins (30 cm to 1 m) with visible gold, galena, sphalerite and pyrrhotite. Mineralization has been traced west to section 8900E, and east toward section 9000E. While the zone appears to diminish along strike to the west, it remains open to the east and at depth. Its direct relation to the 300 Zone structure (at depth 200 m east) remains untested.

The "Falcon 7" has been traced over 130 m in strike and 180 m down dip. Gold mineralization is hosted in narrow veins (30 cm to 1 m) akin to those described above. Mineralization has been traced between sections 8850E and 8980E. The zone is open to the west and at depth. Within the mine diorite to the east, the 7 Zone structure exists 200 m away.

• Hole ERM-2019-22: 18.5 g/t over 5.8 m core length (11.5 g/t Au cut, 3.3 m true width)
• Hole ERM-2019-36: 3,389.0 g/t Au over 0.3 m core length (60.0 g/t Au cut, 0.21 m width)
• Hole ERM-2019-15: 73.5 g/t Au over 1.3 m core length (34.7 g/t Au cut, 1.1 m true width)
• Hole ERM-2019-35: 51.1 g/t Au over 0.6 m core length (32.1 g/t Au cut, 0.4m true width)

Assays capped at 60 g/t Au. True widths are estimated.

Mr. Duncan Middlemiss, President and CEO commented, "We are pleased with our recent surface exploration efforts immediately west of the Eagle River Mine, in particular the discovery of two parallel structures west of the mine diorite that could be the along strike and up plunge extension of the 300 and 7 zones presently being mined only 200 metres further east. Although only a limited amount of drilling has been completed thus far, it certainly indicates that with additional drilling, there exists good potential to define higher grade and wider zones of gold mineralization that would be proximal to existing underground workings. This discovery, combined with our recent announcement of identification of additional parallel zones within the mine diorite further east, is a positive development towards providing additional work places for enhanced mining flexibility and ultimately augmented production rates in the short to medium term. We remain committed to aggressive exploration utilizing four underground drills and one to two surface drills in order to identify additional resources and workplaces for increased future production profiles.”

Surface drilling will be suspended shortly to allow time to receive remaining assays and to allow for spring break-up. Drilling is expected to resume during the summer months to continue to better define and extend the Falcon zones that remain open down plunge and along strike. Additionally, surface mapping and prospecting, with potentially follow-up trenching and drilling, is planned for this summer proximal to the mine diorite and more regionally along strike as follow-up to numerous historic showings that remain underexplored. This Falcon Zone style of mineralization provides new targets for the surface exploration elsewhere on the property.

The sampling of, and assay data, from surface drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program designed to follow industry best practice. Samples are transported in sealed bags to AGAT Laboratories in Timmins Ontario for preparation. Pulps are transported to Mississauga, Ontario for gold assay by fire assay with AAS finish. Samples with high grade gold are further assayed with a gravimetric finish and by metallic screen assay where visible gold is present. Wesdome inserts blanks and certified standards in the sample sequence for quality control.

The technical content of this release has been compiled, reviewed and approved by Michael Michaud, P.Geo., Vice President, Exploration of the Company and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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 135.8 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO.”