Wesdome Announces Early Results from Moss Lake
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PRESS
RELEASE
SEPTEMBER 13 2017
TSX:WDO
WESDOME ANNOUNCES EARLY RESULTS FROM MOSS LAKE
Toronto, Ontario – September 13, 2017 – Wesdome Gold Mines Ltd. (TSX: WDO) is pleased to
release early encouraging results from its Moss Lake property located 100 km west of Thunder Bay,
Ontario.
The purpose of the program is to significantly extend mineralization beyond the 2.5 kilometre known
strike length of a conceptual open pit determined in a 2013 Preliminary Economic
Assessment prepared in accordance wit h National Instrument 43 -101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”) for Moss Lake Gold Mines Ltd., a wholly-owned subsidiary of Wesdome
Gold Mines Ltd.
These early drill results (14 holes) have now extended known mineralization over a strike length of 4.5
kilometres. The geophysical expression (IP) extends over a strike length of 8.0 kilometres. D rilling
has been on 200 metre spacing, to rapidly delineate the potential scale of the Moss Lake gold deposit.
Duncan Middlemiss, President and CEO, commented, “These early results are encouraging as they
confirm our thesis that the mineralization continues along the northeast/southwest trend, and the
structure is potentially larger than previously recognized. The land package consolidated by the
Company in 2016 has demonstrated significant potential. We are currently compiling additional
outstanding assays from this year ’s drilling program, to be released in due course. However, at this
time, we have decided to suspend the Moss Lake drill program and focus our exploration efforts at
the Eagle River Mine and Kiena Complex.”
HIGHLIGHTS INCLUDE:
• Hole MLS-17-01: 5.6 m of 1.079 g/t,
(Immediately adjacent 9.3 m of 1.344 g/t,
conceptual pit) 9.0 m of 1.189 g/t and
30.3 m of 1.136 g/t
• Hole MLS-17-04: 7.0 m of 0.938 g/t,
(200 m NE of 5.0 m of 1.638 g/t,
conceptual pit limit) 4.0 m of 1.201 g/t and
8.0 m of 2.071 g/t
• Hole MLS-17-06: 4.0 m of 0.750 g/t,
(400 m NE of 6.6 m of 1.124 g/t,
conceptual pit limit) 5.0 m of 0.739 g/t,
1.0 m of 1.230 g/t and
1.0 m of 3.370 g/t
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• Hole MLS-17-02: 2.3 m of 3.116 g/t,
(600 m NE of 10.6 m of 0.520 g/t,
conceptual pit) 0.4 m of 2.010 g/t,
2.2 m of 0.819 g/t and
2.0 m of 1.167 g/t
• Hole MLS-17-05: 33.2 m of 0.522 g/t,
(1,200 m NE of inc 6.5 m of 1.288 g/t,
conceptual pit) 3.0 m of 0.725 g/t, and
1.6 m of 1.729 g/t
• Hole MLS-17-02: 15.0 m of 0.633 g/t,
(SW pit edge) 6.5 m of 0.706 g/t,
2.5 m of 0.674 g/t and
1.0 m of 3.550 g/t
• Hole MLS-17-06: 2.0 m of 1.264 g/t,
(Immediately SW 12.0 m of 1.030 g/t,
of conceptual pit) 8.0 m of 1.033 g/t,
4.5 m of 1.098 g/t,
17.0 m of 0.813 g/t and
8.0 m of 1.191 g/t
• Hole MLS-17-07: 6.3 m of 0.835 g/t,
(Immediately SW 1.2 m of 6.870 g/t,
of conceptual pit) 6.0 m of 0.621 g/t and
17.2 m of 2.681 g/t
• Hole MLS-17-05: 1.0 m of 1.075 g/t,
(800 m SW of 10.0 m of 1.092 g/t,
pit limit) 1.5 m of 1.790 g/t and
11.0 m of 0.684 g/t
* True widths approximately 70% of corelengths
Gold mineralization at Moss Lake is hosted in a package of sheared, albitized and hematized
intermediate to felsic volcanic rocks cored by a swarm of diorite to sy enite sills. Disseminated and
fracture-controlled pyrite mineralization is found throughout the package which measures up to 600
metres thick.
The Moss Lake deposit has been extensively drilled at 15 to 50 metre spacing over a 2.5 km length
and to depths of 300 metres. It hosts indicated resources of 39,795,000 tonnes at 1.1 gAu/t (1,377,300
oz Au) and additional inferred resources of 50,364,000 tonnes at 1.1 gAu/t (1,751,600 oz Au) as
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described in an independent 43 -101 Technical Report and Preliminary Economic Assessment dated
May 31, 2013, and prepared for Moss Lake Gold Mines Ltd (www.sedar.com).
Wesdome recently consolidated land in the area which previously cons trained the northeast (NE)
conceptual pit limit. Recent I.P. (induced polarization surveys) have traced what we believe to be
potential extensions of pyrite mineralization associated with the Moss Lake Deposit.
Results of the first 14 holes, 7 on the northeast extension and 7 on the southwest extension, are
summarized in Tables 1 and 2 with hole locations illustrated in Figure 1 and listed in Table 3.
TECHNICAL INFORMATION
The technical information in this press release has been reviewed and approved by Robert S.
Middleton, P.Eng., consultant to the Company and an independent “Qualified Person” as defined in
NI-43-101. Analytical determinations on s plit drill core are performed by certified commercial
laboratory ALS Minerals, North Vancouver, B.C., employing fire assay methods, ICP -AES finish on
30 gram fused aliquots. Comprehensive laboratory Quality Control results are provided and
complemented by independent insertion of blind field blanks and commercially-prepared standards.
ABOUT WESDOME
Wesdome Gold Mines is in its 30 th 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 go ld 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 133.9 million shares issued and outstanding and trades on the T oronto 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
[email protected] [email protected]
8 King St. East, Suite 811
Toronto, ON, M5C 1B5
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-
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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
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Table 1 SIGNIFICANT INTERSECTIONS – NE EXTENSION (MLS)
Hole No.
From
(m)
To
(m)
Corelength*
(m)
Assay
(gAu/tonne)
Comment
MLS-17-01 11.5 17.0 5.5 0.407 Immediately adjacent
36.0 56.3 20.3 0.582 NE conceptual pit limit
inc 48.3 56.3 8.0 0.888
166.6 174.8 8.2 0.817
inc 166.6 172.2 5.6 1.079
194.4 196.4 2.0 0.406
203.3 209.7 6.4 0.434
274.4 314.0 39.6 0.770
inc 283.0 292.3 9.3 1.344
and 305.0 314.0 9.0 1.189
392.0 397.0 5.0 0.949
409.0 411.0 2.0 1.253
467.1 470.0 2.9 1.637
540.7 571.0 30.3 1.136
inc 540.7 550.0 9.3 2.274
and 556.0 564.0 8.0 1.245
MLS-17-02 85.2 86.3 1.1 0.612 600 m NE of pit limit
97.0 99.3 2.3 3.116
167.2 177.8 10.6 0.520
182.7 183.1 0.4 2.010
194.2 196.4 2.2 0.819
206.3 208.3 2.0 1.167
MLS-17-03 No Significant Assays Fenced SE of structure
MLS-17-04 305.0 329.0 24.0 0.737 200 m NE of pit limit
inc 305.0 312.0 7.0 0.938
and 324.0 329.0 5.0 1.638
492.6 498.0 5.4 0.755
550.0 551.3 1.3 1.086
590.0 603.0 13.0 0.646
inc 590.0 594.0 4.0 1.201
661.0 669.0 8.0 2.071
809.0 815.5 6.5 0.692
948.7 952.8 4.1 0.744
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Hole No.
From
(m)
To
(m)
Corelength*
(m)
Assay
(gAu/tonne)
Comment
960.5 963.8 3.3 0.526
974.9 976.8 1.9 0.532
MLS-17-05 35.8 69.0 33.2 0.522 1200 m NE of pit limit
inc 35.8 37.4 1.6 1.186
and 62.5 69.0 6.5 1.288
413.0 416.0 3.0 0.725
586.0 602.6 16.6 0.401
inc 601.0 602.6 1.6 1.729
MLS-17-06 379.9 394.5 14.6 0.434 Partial assays
inc 390.5 394.5 4.0 0.750 received to date
468.8 475.4 6.6 1.124 400 m NE of pit limit
536.0 556.4 20.4 0.478
inc 537.0 542.0 5.0 0.739
561.0 562.0 1.0 1.230
597.5 598.5 1.0 3.370
611.7 619.0 7.3 0.562
625.0 628.0 3.0 0.520
684.6 685.3 0.7 1.495
MLS-17-07 28.0 35.0 7.0 0.419 Fenced SE of structure
* True widths approximately 70% of corelengths based on observed vertical dips
Table 2 SIGNIFICANT INTERSECTIONS – SW EXTENSION (ML)
Hole No.
From
(m)
To
(m)
Corelength*
(m)
Assay
(gAu/tonne)
Comment
ML-17-01 24.0 27.0 3.0 0.398 Overcut structure
47.0 48.0 1.0 1.780
211.0 212.0 1.0 1.730
ML-17-02 26.0 41.0 15.0 0.633 Immediately adjacent
inc 36.5 39.5 3.0 1.375 SE conceptual pit limit
63.5 70.0 6.5 0.706
159.0 161.5 2.5 0.674
180.5 184.0 3.5 0.534
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Hole No.
From
(m)
To
(m)
Corelength*
(m)
Assay
(gAu/tonne)
Comment
198.0 199.0 1.0 3.550
208.0 210.0 2.0 0.647
227.5 229.0 1.5 0.729
ML-17-03 No Significant Assays Fenced SE of structure
ML-17-04 No Significant Assays Overcut structure
ML-17-05 25.0 26.0 1.0 1.075 800 m SW of pit limit
307.0 317.0 10.0 1.092
347.0 348.5 1.5 1.790
394.0 405.0 11.0 0.684
inc 394.0 396.0 2.0 1.903
ML-17-06 242.0 246.0 4.0 0.735 Adjacent SW pit limit
257.0 260.0 3.0 0.749
283.0 285.0 2.0 1.264
299.0 311.0 12.0 1.030
318.0 326.0 8.0 1.033
402.0 406.5 4.5 1.098
416.0 421.0 5.0 0.702
472.0 489.0 17.0 0.813
inc 486.8 489.0 2.2 4.581
528.0 536.0 8.0 1.191
inc 534.0 536.0 2.0 3.995
568.0 573.0 5.0 0.605
ML-17-07 112.0 113.0 1.0 1.890 Adjacent SW pit limit
167.0 173.3 6.3 0.835
180.0 184.0 4.0 0.534
194.5 196.0 1.5 0.880
269.0 270.2 1.2 6.870
314.2 317.5 3.3 0.886
347.0 353.0 6.0 0.621
375.9 376.4 0.5 1.035
380.5 381.6 1.1 0.845
431.2 431.6 0.4 1.300
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Hole No.
From
(m)
To
(m)
Corelength*
(m)
Assay
(gAu/tonne)
Comment
440.9 441.4 0.5 12.000
455.9 473.1 17.2 2.681
inc 467.2 467.6 0.4 59.400
495.0 500.0 5.0 0.679
506.0 513.5 7.5 0.635
* True widths approximately 70% of corelengths based on observed vertical dips
Table 3 DRILL HOLE LOCATIONS
Hole No.
UTM
East
UTM
North
Elevation
Azimuth
(°)
Dip
(°)
Length
(m)
ML-17-01 668191 5378185 450.7 320 -50 299.0
ML-17-02 668306 5378050 439.8 320 -50 434.0
ML-17-03 668624 5377674 431.4 140 -50 164.0
ML-17-04 667577 5377528 436.8 320 -50 432.0
ML-17-05 667706 5377326 440.5 320 -50 521.0
ML-17-06 668535 5377794 438.0 320 -50 662.0
ML-17-07 668381 5377828 449.0 320 -50 669.7
MLS-17-01 670802 5379779 439.6 314 -50 572.0
MLS-17-02 671150 5380264 451.0 140 -50 449.0
MLS-17-03 671557 5380697 450.0 135 -50 434.0
MLS-17-04 671185 5379675 450.0 314 -50 1031.0
MLS-17-05 671560 5380698 423.0 314 -50 621.0
MLS-17-06 671226 5379921 443.0 314 -50 1046.0
MLS-17-07 671599 5380925 443.0 140 -50 581.0
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