Press release from CNW Group
Eagle River deep drilling encouraging
Tuesday, May 07, 2013
Eagle River deep drilling encouraging07:30 EDT Tuesday, May 07, 2013
TORONTO, May 7, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is pleased to report encouraging preliminary drilling results at depth at its 100% owned Eagle River Mine, located west of Wawa, Ontario.
Widely-spaced drilling has traced the main 8-Zone structure 300 to 500 metres below existing workings to depths of 1,100 metres below surface. Results are highlighted by intersections of 15.84 gAu/tonne over 1.5 metres true width and 20.86 gAu/tonne over 1.5 metres true width. Results of recent drilling in this area are tabulated below and locations are illustrated on the longitudinal sections available at www.wesdome.com or www.sedar.com.
George Mannard, V.P. Exploration, comments "These typical widely-spaced, preliminary results give us great confidence from our experience to date. We have opened up some drilling stations that will permit us to confirm depth potential and, therefore, evaluate future development options."
LIST OF SIGNIFICANT INTERSECTIONS
|580-538||10450E||TO BE DRILLED NEXT||1000|
Gold mineralization at the Eagle River Mine is hosted by east-west-striking, subvertically-dipping laminated quartz veins. This consists of lenses occupying a discrete shear zone following the long axis of an elongate quartz diorite stock measuring 2.0 km east-west by 0.5 km north-south.
Although drill results are preliminary in nature, results align well and are typical in mineralogy, grades and widths to what has been mined at Eagle River over the last 18 years. Drilling here will continue and a second drill has commenced deep drilling in the western portion of the mine along the depth projection of the high grade 811 Zone (see longsection).
Since the first gold bar was poured on October 17, 1995, the Eagle River Mine has produced 919,086 ounces of gold from 3,170,934 tonnes milled to December 31, 2012. This production has come from above 600 metres depth. The deep drilling we are initiating will trace potential to 1,300 metres depth.
All assays are performed at the Eagle River Mine assay office on 25 gram aliquots. Duplicates, replicates and blanks are routinely inserted into the sample stream to monitor quality control. Technical content of this press release was compiled by Werner Wirowatz, P.Geo., Mine Geologist at Eagle River. George N. Mannard, P.Geo., Vice President Exploration and "Qualified Person" takes full responsibility for the technical content of this press release as required by National Instrument 43-101 "Standards of Disclosure".
Wesdome is in its 26th year of continuous mining operations in Canada. It currently has two producing gold mines in Wawa, Ontario and owns the Kiena Complex in Val d'Or, Québec. The Company has 101.9 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".
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.
SOURCE: Wesdome Gold Mines Ltd.
For further information:
Donovan Pollitt, P.Eng., CFA
President & CEO
416-360-3743 ext 25
George Mannard, P.Geo.
Vice President Exploration
416-360-3743 ext 22
8 King St. East, Suite 1305
Toronto, ON, M5C 1B5
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Email: firstname.lastname@example.org, Website: www.wesdome.com