Wesdome Announces Exploration Drilling at Eagle River Continues to Expand 311 And 7 Zones and the Recently Discovered Falcon Zones
Wesdome Announces Exploration Drilling at Eagle River Continues to Expand
311 And 7 Zones and the Recently Discovered Falcon Zones
TORONTO, June 13, 2019 -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces results
from the ongoing surface and underground exploration drilling program at the Company’s wholly-owned Eagle River Mine in
Wawa, Ontario.
Mr. Duncan Middlemiss, President and CEO commented, "We are pleased with our ongoing exploration efforts at the Eagle
River Mine, in particular the continued expansion of the 7 East and 311 West zones that are proximal to existing development
and infrastructure. We have repositioned the underground drills to continue drilling the extensions of these zones and expect
to include the results into the existing resource base at year end. We are also pleased with the ongoing surface drilling results
at the recently discovered Falcon zones, where there exists good potential to define higher grade and wider zones of gold
mineralization that would be near mine infrastructure. The objective is to continue our resource definition efforts in this area
that has high probability to be included in future mine production and ultimately augment production rates in the medium
term."
“We remain committed to aggressive exploration utilizing four underground drills and one, increasing to two surface drills in
order to identify additional resources and workplaces for increased future production profiles.”
Underground Exploration Drilling
The 2019 exploration program encompasses 51,000 metres (“m”) of underground exploration drilling and 43,000 m of definition
drilling using 4 drills. These have been focused primarily to extend the 7 and 300 zones, and one underground drill has been
dedicated to exploring new parallel zones of mineralization in the eastern half of the mine diorite, that remains largely under
explored (see Figure 1).
No. 7 East Zone
Capped Assay Highlights from Drilling (Table 1 and Figure 2):
Hole 750-E-59: 13.9 g/t Au cut over 4.9 m true width
Hole 750-E-63: 18.0 g/t Au cut over 2.2 m true width
Hole 750-E-76: 30.8 g/t Au cut over 1.5 m true width
*Assays cut to 125 g/t Au
No. 311 West Zone
Capped Assay Highlights from Drilling (Table 1 and Figure 3):
Hole 844-E-253: 27.0 g/t Au cut over 3.8 m true width
Hole 844-E-259: 8.9 g/t Au cut over 10.1 m true width
Hole 844-E-242: 22.1 g/t Au cut over 1.6 m true width
*Assays cut to 60 g/t Au
New Parallel Zones within eastern portion of mine diorite
Initial limited drilling from the 758 m-level in the eastern half of the mine diorite previously intersected what is interpreted to be
parallel zones north of the past producing 6 and 8 zones and could be the possible extensions of the parallel 7 zone and 300
zone structures being mined along the western portion of the mine diorite. Both of these parallel zones are open up and down
plunge and along strike and remain a focus for 2019 underground drilling.
Surface Exploration Drilling
Earlier in the year, approximately 7,000 m of surface drilling was completed in the volcanic rocks focussed approximately 200
m west of the mine diorite. Drilling encountered two sub-parallel structures, termed the Falcon Zones, that could be extensions
of the 300 and 7 zones in the mine. Below are the remaining assays from the initial 2019 drilling (Table 2 and Figures 3 and
4).
Falcon Zones Highlights:
• Hole ERM-2019-10: 42.6 g/t over 1.5 m core length (12.6 g/t Au cut, 1.0 m true width)
• Hole ERM-2019-42: 13.3 g/t Au over 3.1 m core length (13.0 g/t Au cut, 2.5 m width)
• Hole ERM-2019-47: 53.8 g/t Au over 1.9 m core length (34.7 g/t Au cut, 1.1 m true width)
Assays capped at 60 g/t Au. True widths are estimated.
Surface drilling continued to better define and extend the Falcon zones that remain open down plunge and along strike.
Additionally, surface mapping and prospecting, with potentially follow-up trenching and drilling, is planned for this summer
proximal to the mine diorite and more regionally along strike as follow-up to numerous historic showings that remain
underexplored.
TECHNICAL DISCLOSURE
The sampling of, and assay data, from surface drill core is monitored through the implementation of a quality assurance -
quality control (QA-QC) program designed to follow industry best practice. Samples are transported in sealed bags to AGAT
Laboratories in Timmins Ontario for preparation. Pulps are transported to Mississauga, Ontario for gold assay by fire assay
with AAS finish. Samples with high grade gold are further assayed with a gravimetric finish and by metallic screen assay
where visible gold is present. Wesdome inserts blanks and certified standards in the sample sequence for quality control.
For underground drilling, the sampling of, and assay data from, underground drill core is monitored through the implementation
of a quality assurance - quality control (QA-QC) program designed to follow industry best practice. Samples are transported in
sealed bags to Eagle River Mine assay office in Wawa, Ontario. Samples are analyzed for gold using standard fire assay
technique with gravimetric finish. Wesdome inserts blanks and certified reference standard in the sample sequence for quality
control.
The technical content of this release has been compiled, reviewed and approved by Michael Michaud, P.Geo., Vice President,
Exploration of the Company and a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for
Mineral Projects.
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 gold
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 135.8 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. 2029 416-360-3743 ext. 2025
[email protected] [email protected]
220 Bay Street, Suite 1200
Toronto, ON, M5J 2W4
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
Drilling Composites
Table 1
311 West
Hole From
(m)
To
(m)
Width
(m)
True
Width
(m)
Au
(Uncut)
(g/t)
Au (Cut
60)
(g/t)
750-E-57 133.5 135.9 2.35 1.51 18.09 18.09
750-E-58 114.4 116.4 1.95 1.49 2.18 2.18
750-E-59 96.8 102.4 5.60 4.85 13.92 13.92
750-E-60 85.9 87.9 1.95 1.49 0.29 0.29
750-E-61 83.2 84.8 1.60 1.50 5.65 5.65
750-E-62 162.1 163.9 1.85 1.52 1.47 1.47
750-E-63 133.0 135.9 2.85 2.18 17.95 17.95
750-E-64 108.7 110.6 1.85 1.52 2.32 2.32
750-E-66 155.9 158.5 2.60 1.49 7.51 7.51
750-E-67 125.6 127.6 1.95 1.49 1.10 1.10
750-E-68 110.8 112.9 2.15 1.52 1.24 1.24
750-E-69 148.2 150.0 1.75 1.52 14.04 14.04
750-E-70 152.4 154.7 2.35 1.51 18.06 18.06
750-E-71 168.0 169.8 1.85 1.52 8.47 8.47
750-E-73 149.1 157.0 7.90 5.59 7.21 7.21
750-E-74 100.5 102.3 1.85 1.52 5.77 5.77
750-E-75 136.0 138.1 2.15 1.52 15.38 15.38
750-E-76 156.9 159.3 2.35 1.51 30.75 30.75
750-E-77 183.8 185.7 1.95 1.49 1.58 1.58
750-E-79 127.1 129.2 2.15 1.52 2.70 2.70
750-E-80 149.4 151.4 1.95 1.49 1.05 1.05
750-E-81 172.4 174.8 2.40 1.54 15.04 15.04
750-E-82 193.0 195.3 2.35 1.51 25.93 17.87
7 East
Hole From
(m)
To
(m)
Width
(m)
True
Width
(m)
Au
(Uncut)
(g/t)
Au (Cut
125)
(g/t)
844-E-241 191.3 193.7 2.40 2.08 17.16 17.16
844-E-242 223.1 224.9 1.80 1.56 22.10 22.10
844-E-248 224.7 226.7 1.95 1.49 1.38 1.38
844-E-249 274.5 276.5 1.95 1.49 4.60 4.60
844-E-250 270.5 272.7 2.15 1.52 19.72 19.72
844-E-251 257.6 259.4 1.85 1.52 2.31 2.31
844-E-252 242.5 246.1 3.55 2.91 9.17 9.17
844-E-253 205.6 210.2 4.65 3.81 56.63 27.02
844-E-258 228.1 230.0 1.95 1.49 11.65 11.65
844-E-259 256.8 267.6 11.20 7.92 10.12 8.89
844-E-260 261.5 263.8 2.35 1.51 1.87 1.87
844-E-261 317.2 319.5 2.35 1.51 7.68 7.68
844-E-264 278.3 287.4 9.10 6.43 7.33 7.33
Table 2
Hole Zone From
(m) To (m) Width
(m)
True
Width (m)
Au
(Uncut)
(g/t)
Au (Cut
60) (g/t) Comments
ERM-2019-09 Falcon 300 153.8 155.7 1.9 1.46 1.19 1.19
ERM-2019-09 Falcon 7 218.8 219.5 0.7 0.57 5.61 5.61 VG
ERM-2019-10 Falcon 300 195.5 197.2 1.7 1.08 19.63 11.44
ERM-2019-10 Falcon 7 264.6 266.1 1.5 1.03 42.64 12.55 VG
ERM-2019-16 Falcon 300 182.0 186.6 4.6 2.97 0.98 0.98
ERM-2019-16 Falcon 7 248.6 249.2 0.6 0.42 18.65 18.65
ERM-2019-38 Falcon 7 103.7 104.0 0.35 0.24 5.01 5.01
ERM-2019-40 Falcon 7 158.6 160.1 1.5 1.03 7.00 7.00 VG
ERM-2019-41 Falcon 300 84.7 85.8 1.1 0.58 1.08 1.08
ERM-2019-41 Falcon 7 195.7 198.4 2.65 1.57 1.37 1.37 VG
ERM-2019-42 Falcon 300 57.5 58.3 0.85 0.62 2.74 2.74
ERM-2019-42 Falcon 7 117.4 120.3 2.95 2.33 1.33 1.33
ERM-2019-42 Falcon 7 126.5 129.6 3.1 2.45 13.25 13.01 VG
ERM-2019-43 Falcon 7 152.2 154.8 2.6 1.83 2.17 2.17
ERM-2019-44 Falcon 7 185.4 187.5 2.1 1.24 1.05 1.05 VG
ERM-2019-45 Falcon 300 57.7 58.0 0.35 0.24 3.97 3.97
ERM-2019-45 Falcon 7 131.9 133.5 1.55 1.19 6.42 6.42 VG
ERM-2019-46 Falcon 7 160.0 161.0 1 0.66 7.94 7.94 VG
ERM-2019-47 Falcon 300 101.0 101.5 0.5 0.26 39.00 39.00
ERM-2019-47 Falcon 7 151.3 153.2 1.9 1.07 53.76 27.39 VG
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