Mr. Duncan Middlemiss reports
WESDOME ANNOUNCES HIGH GRADE GOLD DISCOVERY AT KIENA COMPLEX IN VAL D'OR QUEBEC
Wesdome Gold Mines Ltd. has released early underground drill results from the exploration program at its 100-per-cent-owned Kiena mine complex located near Val d'Or, Que.
Highlights:
-
94.35 grams per tonne (g/t) gold over 17.4 metres uncut (18.03 g/t cut) in hole U-6124;
- 223.12 g/t gold over 14.25 metres uncut (18.59 g/t cut) in hole U-6125;
- 238.81 g/t gold over five metres uncut (15.71 g/t cut) in hole U-6125;
- 8.43 g/t gold over 8.2 metres uncut (3.82 g/t cut) in hole U-6130.
Two drills are testing for a repetition of the S-50 zone along a Z-fold interpretation 200 to 300 metres below existing mine infrastructure at a depth of approximately 1,200 metres. The nominal drill spacing to test this target is 100 metres.
George Mannard, vice-president of exploration, commented: "These early results exceed expectations, and these rich veins are unlike anything previously encountered at this property. Three holes have been completed to date, hitting four high-grade intersections. More drilling is under way, and is required to define the geometry, true widths and extent of this extraordinarily rich mineralized system."
At least two quartz veins and quartz vein breccia systems have been observed to date. They occur near altered and deformed komatiite-tholeiitic basalt contacts. Drilling continues with one drill on the 670-metre level, drilling eastward to test the north-trending arm of the projected Z-fold. The second is drilling southwestward from the 910-metre level, testing the southeast-trending arm of the projected Z-fold. Multiple occurrences of coarse native gold have been observed in all four intervals. Drilling results are summarized in the attached table. Detailed assay intervals and core photographs are appended.
Background
The company's wholly owned, contiguous Val d'Or properties cover approximately 7,000 hectares and encompass four former producers, eight shafts and significant mineral resources, as outlined in a current 43-101 report by independent consulting firm InnovExplo Inc. dated Dec. 16, 2015.
The Kiena mine complex is a fully permitted, integrated mining and milling infrastructure which includes a 900-metre production shaft and 2,000-tonne-per-day-capacity mill. From 1981 to 2013, the mine produced 1.75 million ounces of gold from 12.5 million tonnes at a grade of 4.5 g/t. The bulk of this production came from the S-50 zone between depths of 100 and 1,000 metres. In 2013, operations were suspended due to a combination of declining gold prices and lack of development. The infrastructure has been preserved on care and maintenance status.
SIGNIFICANT DRILL RESULTS
Hole No. From To Core length Assay Cut grade
(m) (m) (m) (g/t Au) (g/t Au)
U-6124 491.50 508.90 17.40 94.35 18.03
U-6125 695.05 709.30 14.25 223.12 18.59
Incl. (late 695.80 699.90 4.10 0.33 0.33
porphyry dike)
740.00 745.00 5.00 238.81 15.71
U-6130A 469.00 477.20 8.20 8.43 3.82
Notes:
1. High assays arbitrarily cut to 34.28 g/t gold
2. True widths not known at this time
Drill hole details
U-6124
- 94.35 g/t gold over 17.4 metres -- drilled from 670-metre level;
- New vein system intersected with core angles varying from 10 to 30 degrees to core axis;
- Hole failed to intersect projected S-50 target.
INDIVIDUAL FIRE ASSAYS FOR DRILL HOLE U-6124
From To Core length Assay Cut grade
(m) (m) (m) (g/t Au) (g/t Au)
491.50 492.60 1.10 37.10 34.28
492.50 493.60 1.00 15.31 15.31
493.60 494.60 1.00 0.16 0.16
494.60 495.60 1.00 20.48 20.48
495.60 496.60 1.00 0.28 0.28
496.60 497.60 1.00 27.91 27.91
497.60 498.60 1.00 0.52 0.52
498.60 499.60 1.00 0.63 0.63
499.60 500.60 1.00 1.98 1.98
500.60 501.50 0.90 95.18 34.28
501.50 502.50 1.00 328.82 34.28
502.50 503.00 0.50 274.74 34.28
503.00 503.50 0.50 1364.20 34.28
503.50 504.50 1.00 0.75 0.75
504.50 505.50 1.00 0.85 0.85
505.50 506.30 0.80 58.44 34.28
506.30 507.20 0.90 35.14 34.28
507.20 508.30 1.10 188.96 34.28
508.30 508.90 0.60 19.61 19.61
Total 17.40 94.35 18.03
U-6125
- 223.12 g/t gold over 14.25 metres and 238.81 g/t gold over five metres -- drilled from 670-metre level;
- S-50 breccia vein with core angles between 45 and 90 degrees to core axis.
INDIVIDUAL FIRE ASSAYS FOR DRILL HOLE U-6125
From To Core length Assay Cut grade
(m) (m) (m) (g/t Au) (g/t Au)
694.22 695.05 0.83 1.18 1.18
695.05 695.80 0.75 183.23 34.28
695.80 697.00 1.20 0.71 0.71
697.00 698.00 1.00 0.11 0.11
698.00 699.00 1.00 0.11 0.11
699.00 699.90 0.90 0.29 0.29
699.90 700.90 1.00 186.30 34.28
700.90 701.90 1.00 5.79 5.79
701.90 702.90 1.00 28.24 28.24
702.90 703.50 0.60 442.67 34.28
703.50 704.10 0.60 2769.58 34.28
704.10 704.60 0.50 529.60 32.43
704.60 705.60 1.00 32.43 32.43
705.60 706.90 1.30 24.22 24.22
706.90 707.90 0.70 772.81 34.28
707.60 708.60 1.00 11.27 11.27
708.60 709.30 0.70 17.19 17.19
709.30 710.10 0.80 Pending Pending
Total 14.25 223.12 18.59
740.00 740.60 0.60 16.76 16.76
740.60 741.50 0.90 620.72 34.28
741.50 742.40 0.90 687.31 34.28
742.40 743.40 1.00 2.75 2.75
743.40 744.40 1.00 2.41 2.41
744.40 745.00 0.60 2.71 2.71
Total 5.00 238.81 15.71
U-6130A
- 8.43 g/t gold over 8.2 metres -- drilled from 910-metre level;
- S-50 zone target with core angles 50 to 80 degrees to core axis;
- Hole replaces abandoned hole U-6130.
U-6126 and U-6131
Technical disclosure
The technical disclosure in this press release has been compiled and reviewed by Marc Ducharme, PGeo, chief exploration geologist of Wesdome and qualified person as defined by National Instrument 43-101 disclosure standards. Analytical work was performed by Techni-Lab (ActLabs) of Ste-Germaine-Boule, Que., a certified commercial laboratory. Sample preparation was done at Techni-Lab in Val d'Or, Que., and assaying was done by fire assay methods at the Techni-Lab laboratory in Ste-Germaine-Boule. In addition to the laboratory's internal duplicates, standards and blanks, the geology department inserts blind duplicates, standards and blanks into the sample stream at a frequency of one in 20 to monitor quality control.
About Wesdome
The company is currently producing gold at the Eagle River complex located near Wawa, Ont., from the Eagle River and Mishi gold mines. Wesdome's goal is to expand current operations at both mines over the next four years through mill expansion and exploration. Wesdome has significant upside through ownership of its two other properties, the Kiena mine complex in Val d'Or and the Moss Lake gold deposit located 100 kilometres west of Thunder Bay, Ont. These assets are being explored and evaluated to be developed in the appropriate gold price environment.
We seek Safe Harbor.
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