Press release from CNW Group
Wesdome Gold Mines Ltd. - Two new gold structures at Eagle River
Monday, August 19, 2013
Wesdome Gold Mines Ltd. - Two new gold structures at Eagle River07:30 EDT Monday, August 19, 2013
TORONTO, Aug. 19, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is pleased to announce encouraging early results from its recently started deep drilling program at its 100%-owned Eagle River Mine, located 50 km due west of Wawa, Ontario.
Drilling is being conducted from a recently established exploration drift located in the hangingwall on the 670 metre level in the western portion of the mine. The purpose of the drilling is to confirm the depth potential of the high grade 811 Zone and evaluate future development options. The deepest mining level in the 811 Zone is currently 765 metres. On the 765 metre level, the 811 Zone averaged 36.61 gAu/tonne (with high assays cut to 140 gAu/tonne) with an average width of 2.13 metres and a length of 142 metres. This is defined by grade control chip sampling of development rounds.
Preliminary drilling has been completed on two sections 75 metres apart. A third has commenced.
EARLY RESULTS CONFIRM:
- 811 Zone structure confirmed to depths of 1,200m highlighted by hole EU-701 which cut 78.43 gAu/tonne over a true width of 1.73 metres.
- A new zone (7 Zone) identified approximately 200 metres north of the 811 structure highlighted by:
- Hole EU-693 26.85 gAu/tonne over 3.45m true width
- Hole EU-694 30.15 gAu/tonne over 1.52m true width
- A second new zone (300 Zone) identified approximately 400 metres north of the 811 structure highlighted by:
- Hole EU-695 21.73 gAu/tonne over 2.42m true width
- Hole EU-696 20.24 gAu/tonne over 1.38m true width
- Hole Eu-697 10.20 gAu/tonne over 1.51m true width
A complete list of results is provided in the following table with the location of drilling provided on the accompanying longitudinal section available at www.wesdome.com.
George Mannard, VP Exploration, commented "It's still very early in the game, but we are excited about the potential implications of parallel zones and that the 811 structure persists to at least 1,200 metres depth. We will be drilling here at least until year end in an effort to delineate and define these zones. They are visually strong, distinctive and traceable shear-zone hosted quartz vein systems - Eagle River's hallmark."
Drilling commenced on section 9350E. This was just west of the 811 plunge trend, yet identified strong values in the 7 Zone. Holes EU-693 and EU-694 are 125 metres apart. The drilling on section 9425E consistently identified the 811 yet half the holes along the 7 Zone projection were eclipsed by a late mafic dyke.
To date, drill coverage of the new 300 Zone is tightly clustered near the drill collars and, therefore, more drilling is required to assess its potential dimensions.
Gold mineralization at the Eagle River Mine is hosted by east-west striking, steeply north dipping laminated quartz veins. The veins occur as tabular lenses occupying discrete shear zones following the long axis of a quartz diorite stock measuring 2.0 kilometres east-west by 0.5 kilometres north-south.
Since the first gold bar was poured on October 17, 1995, the Eagle River Mine has produced 937,602 ounces of gold from 3,221,963 tonnes milled at an average recovered grade of 9.1 gAu/tonne.
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 of 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 101.8 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.|
LIST OF SIGNIFICANT DRILLING RESULTS
|*||300 Zone - high assays cut to 60 gAu/tonne
No.7 Zone - high assays cut to 80 gAu/tonne
811 Zone - high assays cut to 140 gAu/tonne
|**||Grid Eastings plus depth from surface
Veins strike east-west and dip steeply north
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: email@example.com, Website: www.wesdome.com