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Ongoing Exloration of Kiena Deep A Zone Continues to Return High Grades and Identifies Significant Up Plunge Potential

11.09.2018  |  GlobeNewswire

TORONTO, Sept. 11, 2018 - Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces additional high grade results from the ongoing underground exploration drilling of the Kiena Deep A Zone at its 100% owned Kiena Mine Complex, in Val d'Or, Quebec. Additionally, drilling has identified a well-defined plunge, that extrapolated up plunge into areas of historical drilling, indicates that the mineralization could extend up plunge an additional 250 metres, while the down plunge and down dip extensions of the zone remain open.

Composite Plan View of the Kiena Deep A Zone


Detailed Composite Plan View of the Kiena Deep A Zone


Longitudinal Section 510 - Kiena Deep A Zone


Recent drilling has extended the gold mineralization of the A Zone beyond a 350 metre strike length announced in a news release dated June 26, 2018. Today’s drill results have continued to extend the zone of mineralization an additional 50 metres down plunge to the southeast. Following the continued success of the ongoing diamond drill program, the Company took the decision to extend the current exploration platforms by a total of 450 metres to continue to define the possible extension of the Kiena Deep A Zone to the northwest, southeast and down dip. A total of 243 metres of additional development have been completed since July, and is expected to be completed at the end of October.

As this drill drift development continues, 4 drills are in operation on the A Zone and remain focussed on definition drilling in advance on the Q4 resource estimate, with less focus on extension drilling along the margins of the mineralized zone. Since July, a total of 18 holes totalling 5,200 metres have been completed (Figure 1A and 1B). The definition drilling has continued to confirm the overall continuity of the Kiena Deep A Zone and improve our understanding and confidence in the controls on gold mineralization. Highlights of the new drilling are listed below and summarized in Table 1.

Highlights:

Kiena Deep A Zone

  • Hole 6339: 53.6 g/t Au over 6.2 m core length (18.38 g/t Au cut, 5.3 m true width)
  • Hole 6321: 177.3 g/t Au over 5.1 m core length (6.5 g/t Au cut, 5.1 m true width)
  • Hole 6336: 18.7 g/t Au over 12.9 m core length (7.0 g/t Au cut, 6.8 m true width)
  • Hole 6333: 37.3 g/t Au over 8.4 m core length (6.8 g/t Au cut, 5.8 m true width)
  • Hole 6338: 163.8 g/t Au over 3.0 m core length (13.1 g/t Au over 2.6 m true width)
  • Hole 6338: 14.1 g/t Au over 12.1 m core length (10.3 g/t Au over 11.9 m true width)

All assays cut to 34.28 g.t Au. True widths are estimated.

Recent drilling has identified a well-defined, moderate plunge of approximately 45 degrees to the SE to the gold mineralization that occurs predominantly along the basalt – chlorite-carbonate schist boundary (Figure 2: Longitudinal Section of the Kiena Deep A Zone). The recent drilling has defined this plunge extending from the 1,600 metre elevation (1,400 m below surface vertically) to the 2,000 metre elevation (1,000 m below surface). Extrapolating this well-defined zone up plunge is in good agreement with two historic holes. Hole 6146 that returned 6.63 g/t over 11.0 metres (core length) from a zone located over 100 metres to the northwest of our current drilling and is interpreted to be the up plunge extension of the A Zone. Furthermore, hole 5976 returned 7.26 g/t Au over 3.0 metres (true width) at the 2,300 metre elevation, or approximately 350 metres vertically above our current drilling level and in excess of 300 metres to the northwest of the currently defined A Zone. Although this area will be the focus for continued drilling, this initial interpretation indicates that the up plunge mineralization could be extended more than 250 metres. Both of these holes intersected quartz veining with visible gold proximal to the projected basalt – chlorite-carbonate schist boundary that is similar in character to the Kiena Deep A Zone currently being drilled.

Additionally, the down plunge and portions of the down dip extension of the A zone remains open.

Mr. Duncan Middlemiss, President and CEO commented, “We are very pleased with the recent drill results that are providing more confidence in the continuity of the deposit and continuing to extend the gold mineralization up and down plunge. Good progress is being made on the additional exploration drift development that will allow us to more effectively test the size of this deposit, and complete infill drilling more quickly. We remain committed to developing a resource estimate in the fourth quarter and this development will greatly aid our understanding of this exciting discovery. We recognize at this time that this will definitely be a ‘snapshot in time’ as we have not closed off the Deep Zone A up plunge, down plunge, and down dip.”

“We are also very excited about the potential up plunge extension of the Kiena Deep A Zone that has been well defined with recent drilling and extrapolated with more historic information. This extension would have the potential to significantly add to the resource base, as it would extend the mineralization over 300 metres higher in elevation than our current drilling level. Additionally, the location of this mineralization would be easily accessible to existing mine development and could be a vital component in any restart scenario.”

TECHNICAL DISCLOSURE

The technical and geoscientific content of this release has been compiled, reviewed and approved by Bruno Turcotte, P.Geo., (OGQ #453) Senior Project Geologist of the Company and a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

Analytical work was performed by Techni-Lab (ActLabs) of Ste-Germaine-Boule (Quebec), a certified commercial laboratory (SCC Accredited Lab #707). Sample preparation was done at Techni-Lab (ActLabs) in Val d'Or (Quebec). Assaying was done by fire assay methods and all samples with visible gold were assayed by metallic sieve method at Techni-Lab (ActLabs) laboratory in Ste-Germaine-Boule (Quebec). In addition to laboratory internal duplicates, standards and blanks, the geology department inserts blind duplicates, standards and blanks into the sample stream at a frequency of one in twenty to monitor quality control.

ABOUT WESDOME
Wesdome Gold Mines has had over 30 years 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. The Company has approximately 134.2 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.

For further information, please contact:

Duncan Middlemiss or Lindsay Carpenter Dunlop
President and CEO VP Investor Relations
416-360-3743 ext. 29 416-360-3743 ext. 25
dmiddlemiss@wesdome.com ldunlop@wesdome.com
220 Bay St, Suite 1200
Toronto, ON, M5L 1E9
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Website: www.wesdome.com

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. The Company has included in this news release certain non-IFRS performance measures, including, but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced. These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow

Table 1: Kiena Deep Zone A Drilling Results

Hole No. From
(m)
To
(m)
Core
Length (m)
Estimated
True width
Grade (g/t
Au)
Cut Grade
(g/t Au)
Name Zone
6289 334.7 337.0 2.3 1.6 122.11 8.31 A Zone
6321 251.4 256.5 5.1 5.1 177.25 6.47 A Zone
6321 280.8 283.6 2.8 2.8 5.67 5.67 A1 Zone
6327 270.0 273.0 3 2.7 13.62 13.62 A Zone
6333 64.5 72.9 8.4 5.8 37.34 6.82 A Zone
6336 552.1 565.0 12.9 6.8 18.73 7.02 A Zone
Including 558.2 565.0 6.8 3.6 34.20 11.99 A Zone
6337 175.0 178.1 3.1 3.0 3.73 3.73 A2 Zone
6338 151.9 154.9 3.0 2.6 163.85 13.11 A Zone
6338 164.5 176.6 12.1 11.9 14.07 10.34 A1 Zone
6339 153.9 160.1 6.2 5.3 53.63 18.38 A Zone
6339A 159.2 163.6 4.4 3.2 71.40 17.97 A Zone
6341 248.2 250.7 2.5 2.2 18.41 12.48 A Zone
6342 290.3 294.0 3.7 3.2 2.47 2.47 A Zone
6342 299.8 303.3 3.5 3.2 10.11 10.11 A1 Zone
6342 364.5 370.5 6.0 5.4 5.43 5.43 A2 Zone
6349 214.5 220.6 6.1 2.6 44.09 7.47 A Zone
6352 453.3 456.1 2.8 1.7 1.83 1.83 A Zone
6357 168.0 172.6 4.6 4.4 8.58 7.73 A1 Zone

Assays

Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6289 334.7 335.6 0.9 0.48 0.48 A Zone
6289 335.6 336.5 0.9 1.70 1.70 A Zone
6289 336.5 337.0 0.5 557.79 34.28 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6321 251.4 252.3 0.9 1002.06 34.28 A Zone
6321 252.3 253.3 1.0 0.07 0.07 A Zone
6321 253.3 254.2 0.9 0.03 0.03 A Zone
6321 254.2 255.1 0.9 0.33 0.33 A Zone
6321 255.1 255.8 0.7 0.30 0.30 A Zone
6321 255.8 256.5 0.7 2.18 2.18 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6321 280.8 281.6 0.8 14.41 14.41 A1 Zone
6321 281.6 282.6 1.0 1.88 1.88 A1 Zone
6321 282.6 283.6 1.0 2.46 2.46 A1 Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6327 270.0 271.0 1.0 0.66 0.66 A1 Zone
6327 271.0 272.0 1.0 34.17 34.17 A1 Zone
6327 272.0 273.0 1.0 6.04 6.04 A1 Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6333 64.5 65.0 0.5 16.44 16.44 A Zone
6333 65.0 66.0 1.0 0.05 0.05 A Zone
6333 66.0 67.0 1.0 0.10 0.10 A Zone
6333 67.0 68.0 1.0 0.02 0.02 A Zone
6333 68.0 69.0 1.0 0.04 0.04 A Zone
6333 69.0 70.0 1.0 0.74 0.74 A Zone
6333 70.0 70.8 0.8 2.39 2.39 A Zone
6333 70.8 71.5 0.7 98.47 34.28 A Zone
6333 71.5 72.3 0.8 2.05 2.05 A Zone
6333 72.3 72.9 0.6 386.70 34.28 A Zone
Hole No. From (m) To (m) Core Lenght
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6336 552.1 552.8 0.7 4.28 4.28 A Zone
6336 552.8 553.3 0.5 0.57 0.57 A Zone
6336 553.3 554.0 0.7 1.40 1.40 A Zone
6336 554.0 554.7 0.7 2.39 2.39 A Zone
6336 554.7 555.5 0.8 0.52 0.52 A Zone
6336 555.5 556.4 0.9 1.60 1.60 A Zone
6336 556.4 557.3 0.9 0.90 0.90 A Zone
6336 557.3 558.2 0.9 0.45 0.45 A Zone
6336 558.2 558.7 0.5 11.90 11.90 A Zone
6336 558.7 559.4 0.7 0.04 0.04 A Zone
6336 559.4 560.1 0.7 0.02 0.02 A Zone
6336 560.1 560.8 0.7 1.16 1.16 A Zone
6336 560.8 561.6 0.8 127.72 34.28 A Zone
6336 561.6 562.1 0.5 0.73 0.73 A Zone
6336 562.1 563.1 1.0 110.60 34.28 A Zone
6336 564.0 565.0 1.0 12.64 12.64 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6337 175.0 176.1 1.1 9.39 9.39 A2 Zone?
6337 176.1 177.2 1.1 0.04 0.04 A2 Zone?
6337 177.2 177.5 0.3 core not recovered
6337 177.5 178.1 0.6 1.98 1.98 A2 Zone?
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6338 151.9 152.8 0.9 2.03 2.03 A Zone
6338 152.8 153.6 0.8 599.53 34.28 A Zone
6338 153.6 154.4 0.8 10.87 10.87 A Zone
6338 154.4 154.9 0.5 2.78 2.78 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6338 164.5 165.5 1.0 4.92 4.92 A1 Zone
6338 165.5 166.5 1.0 0.06 0.06 A1 Zone
6338 166.5 167.5 1.0 15.85 15.85 A1 Zone
6338 167.5 168.7 1.2 0.09 0.09 A1 Zone
6338 168.7 169.9 1.2 21.03 21.03 A1 Zone
6338 169.9 171.0 1.1 25.02 25.02 A1 Zone
6338 171.0 172.1 1.1 0.88 0.88 A1 Zone
6338 172.1 173.2 1.1 8.32 8.32 A1 Zone
6338 173.2 174.2 1.0 0.06 0.06 A1 Zone
6338 174.2 175.4 1.2 0.08 0.08 A1 Zone
6338 175.4 176.6 1.2 71.87 34.28 A1 Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6339 153.9 154.9 1.0 81.42 34.28 A Zone
6339 154.9 155.9 1.0 0.25 0.25 A Zone
6339 155.9 156.8 0.9 0.89 0.89 A Zone
6339 156.8 157.3 0.5 7.25 7.25 A Zone
6339 157.3 158.1 0.8 8.40 8.40 A Zone
6339 158.1 159.0 0.9 33.94 33.94 A Zone
6339 159.0 159.6 0.6 73.00 34.28 A Zone
6339 159.6 160.1 0.5 330.66 34.28 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6339A 159.2 159.7 0.5 23.37 23.37 A Zone
6339A 159.7 160.5 0.8 14.45 14.45 A Zone
6339A 160.5 161.3 0.8 4.49 4.49 A Zone
6339A 161.3 162.2 0.9 4.72 4.72 A Zone
6339A 162.2 163.6 1.4 202.20 34.28 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6341 248.2 249.1 0.9 0.11 0.11 A Zone
6341 249.1 250.0 0.9 50.77 34.28 A Zone
6341 250.0 250.7 0.7 0.35 0.35 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6342 290.3 291.1 0.8 0.20 0.20 A Zone
6342 291.1 292.0 0.9 8.65 8.65 A Zone
6342 292.0 293.0 1.0 1.10 1.10 A Zone
6342 293.0 294.0 1.0 0.10 0.10 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6342 299.8 300.8 1.0 22.07 22.07 A1 Zone
6342 300.8 301.3 0.5 19.21 19.21 A1 Zone
6342 301.3 302.3 1.0 0.40 0.40 A1 Zone
6342 302.3 303.3 1.0 3.30 3.30 A1 Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6342 364.5 366.0 1.5 3.78 3.78 A2 Zone
6342 366.0 367.3 1.3 3.40 3.40 A2 Zone
6342 367.3 368.3 1.0 0.06 0.06 A2 Zone
6342 369.0 369.7 0.7 1.20 1.20 A2 Zone
6342 369.7 370.5 0.8 26.97 26.97 A2 Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6349 214.5 215.2 0.7 28.18 28.18 A Zone
6349 215.2 216.0 0.8 0.21 0.21 A Zone
6349 216.0 216.5 0.5 481.06 34.28 A Zone
6349 216.5 217.0 0.5 0.79 0.79 A Zone
6349 217.0 217.5 0.5 0.98 0.98 A Zone
6349 217.5 218.0 0.5 2.56 2.56 A Zone
6349 218.0 219.0 1.0 1.07 1.07 A Zone
6349 219.0 219.6 0.6 0.20 0.20 A Zone
6349 219.6 220.6 1.0 5.20 5.20 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6352 453.3 454.5 1.2 3.52 3.52 A Zone
6352 454.5 455.3 0.8 0.22 0.22 A Zone
6352 455.3 456.1 0.8 0.92 0.92 A Zone
Hole No. From (m) To (m) Core Length
(m)
Grade (g/t
Au)
(Cut Grade (g/t
Au)
Name
Zone
6357 168.0 169.0 1.0 38.19 34.28 A1 Zone
6357 169.0 170.0 1.0 0.04 0.04 A1 Zone
6357 170.0 170.7 0.7 0.03 0.03 A1 Zone
6357 171.0 171.8 0.8 0.03 0.03 A1 Zone
6357 171.8 172.6 0.8 1.49 1.49 A1 Zone

Images accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/9bfac22c-6190-417a-a040-121bb0aa54f0
http://www.globenewswire.com/NewsRoom/AttachmentNg/b8a95267-0c6d-45b3-b6d6-ad1e566fb168
http://www.globenewswire.com/NewsRoom/AttachmentNg/d99e2cc3-5e60-4fda-a347-2d6d1c6710bf

A PDF attachment of this release is available at: http://resource.globenewswire.com/Resource/Download/06d4a5ac-81de-4dba-b652-79ae5cf0e566


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