Wesdome Drilling Confirms Continuity of Presqu’Île Zone and is Investigating Installation of Exploration RAMP from Surface Adjacent to the Kiena MINE
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PRESS
RELEASE
September 8, 2022
TSX:WDO
WESDOME DRILLING CONFIRMS CONTINUITY OF PRESQU’îLE
ZONE AND IS INVESTIGATING INSTALLATION OF EXPLORATION
RAMP FROM SURFACE ADJACENT TO THE KIENA MINE
Toronto, Ontario – September 8, 2022 – Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or
the “Company”) today announces surface exploration drilling results from the Presqu’île Zone at the
Company’s 100% owned Kiena Mine Complex in Val d'Or, Quebec.
Since the completion of the PFS for the Kiena Mine in 2021, both surface and underground drilling
has been more focused on exploration targets proximal to the Kiena Mine. Initially this drilling has
been completed along strike f rom the Kiena Mine within the prospective Jacola Formation in o rder
to provide additional feed for the Kiena mill. Most r ecently surface drilling has focused on the
Presqu’île Zone located 2 kilometres west of the Kiena Mine (Figure 1). Previous drilling at the
Presqu’île zones has defined a near surface mineral resou rce (Inferred Mineral Resource of 353,000
tonnes grading 7.1 g/t au totalling 80,600 oz of gold from 3 lenses [PR-1, PR-2, and PR-2A zones]
December 31, 2021 Mineral Resources).
Recent drilling has confirmed several narrow, subparallel zones that are steeply east-plunging located
proximal to a sheared mafic-ultramafic contact. The zones are generally hosted by a porphyritic basalt.
The mineralization corresponds to several quartz-carbonate-chlorite veins (<40cm) mineralized with
pyrite, chalcopyrite, sphalerite, galena and ±visible native gold . Quartz veins are associated with a
typical biotite alteration. The drilling has confirmed the continuity of the mineralized zones. The PR-
2A Zone is interpreted to be open along strike eastward and down dip and represents an excellent
target for the exploration drilling at depth.
Highlights of the recent drilling are listed below and are summarized in Table 1.
• Hole PR-22-034: 24.3 g/t over 3.3 m core length (10.6 g/t Au capped*, 3.0 true width) PR-1
Zone
• Hole PR-22-026: 30.0 g/t Au over 9.4 m core length (13.1 g/t Au capped*, 9.2 m true
width) PR-2A Zone
• Hole PR-22-024: 45.0 g/t Au over 3.8 m core length (18.5 g/t Au capped*, 3.7 m true
width) PR-2A Zone
• Hole PR-22-029: 27.6 g/t over 3.5 m core length (12.8 g/t Au capped*, 3.3 m true width)
PR-2 Zone
* All assays capped at 35 g/t. Au. True widths are estimated based on 3D model construction.
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Given the significant upside that the Presqu’île zone could represent for Kiena, the Company is
currently evaluating options to fast-track an exploration ramp from surface. This infrastructure would
provide the ideal platform for exploration activities to test the potential of the Presqu’île area. It could
also easily be connected to Kiena’s existing underground ramp network, providing access to surface
for the existing operation. This could represent a significant milestone on the Company’s journey to
unlock the full potential of Kiena, as it would provide a second access for conveyance of material and
personnel, freeing time for additional ore hoisting via the shaft. Other gains, such as reduced
ventilation costs and savings from added operational flexibility are also expected.
Mr. Duncan Middlemiss, President and CEO commented, “We are pleased with the recent surface
exploration results at Presqu’île which could potentially increase our resource base in areas proximal
to the mine. The Presqu’ île Zone repr esents an opportunity to establish an exploration ramp for
further exploration of the zone but also to provide a ccess to the underground workings via a ramp
system that would greatly improve efficiencies at the Kiena mine.
We are currently drilling with t wo drills on barges and one surface drill to explore adjacent
mineralization to the Kiena mine within the Jacola Formation. Several of these areas include the
Dubuisson, Shawkey, Thompson, and recently discovered Bourgo zone again having the potential to
add to feed for the Kiena mill. Drilling is ongoing and updates will be released within the next several
months. It is evident that as we continue to explore and collect new geological information, we are
able to discover traps for gold mineralization, thereby demonstrating the prospectivity of the property.
We are also pleased with the progress being made at the construction of the paste back fill plant that
is expected to be completed in November. As part of this, the most critical components of the paste
fill plant, the motor control system (MCC ) have been received and being installed. Commissioning
remains on track for Q4 2022.”
TECHNICAL DISCLOSURE
The technical and geoscientific content of this release has been compiled and reviewed by Denys
Vermette, P. Geo., (OGQ #564) Consultant Geologist for IOS Services Géoscientifiques from
Chicoutimi, Qc), and approved by Bruno Turcotte, P.Geo., (OGQ #453) Chief Geologist –
Underground Exploration of the Company, both "Qualified Persons" as defined in National
Instrument 43-101 -Standards of Disclosure for Mineral Projects.
Analytical work was performed by ALS Minerals of Val -d’Or (Quebec), a certified commercial
laboratory (Accredited Lab #689). Sample preparation was completed at ALS Minerals in Lachine
(Quebec). Assaying comprised fire assay methods with an atomic absorpt ion finish. Any sample
assaying >3 g/t Au was rerun by fire assay method with gravimetric finish, and any sample
assaying >10 g/t Au was rerun with the metallic sieve method. In addition to laboratory internal
duplicates, standards , and blanks, the geolo gy department inserts blind duplicates, standards, and
blanks into the sample stream at a frequency of one in twenty to monitor quality control.
COVID-19
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The health and safety of our employees, contractors, vendors, and consultants is the Company’s top
priority. In response to the COVID -19 outbreak, Wesdome has adopted all public health guidelines
regarding safety measures and protocols at all of its mine operations and corporate office. These
protocols are still in place at all sites despite the loosening of some provincial public health guidelines.
In addition, our internal COVID -19 Taskforce continues to monitor developments and implement
policies and programs intended to protect those who are engaged in business with the Company.
Through care and p lanning, to date the Company has successfully maintained operations; however,
there can be no assurance that this will continue despite the Company’s best efforts, with the
emergence of new, highly contagious variants such as Omicron. To date, the Company has been
impacted by this most recent variant outbreak, with employees at both operations and corporate office
becoming infected, which may negatively impact our ability to maintain projected timelines and
objectives. Consequently, the Company’s actual future production and production guidance is subject
to higher levels of risk than usual. The Company is continuing to monitor the situation closely and
will provide updates as they become available.
ABOUT WESDOME
Wesdome is a Canadian focused gold producer with two high grade underground assets, the Eagle
River mine in Ontario and the recently re -started Kiena mine in Quebec. The Company also retains
meaningful exposure to the Moss Lake gold deposit in Ontario through its equity position in
Goldshore Resources Inc. The Company’s primary goal is to responsibly leverage this operating
platform and high -quality brownfield and greenfield exploration pipeline to build Canada’s next
intermediate gold producer. Wesdome trades on the Toronto Stock Exchange u nder the symbol
“WDO,” with a secondary listing on the OTCQX under the symbol “WDOFF.”
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 St, 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 sec urities 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,
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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 additio n 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: Kiena Complex Surface Drilling Assay and Composite Results
Composites
Hole No.
From
(m)
To
(m)
Core
Length (m)
Estimated
True width
(m)
Grade
(g/t Au)
Cut Grade
(35 g/t Au) Zone Name
PR-21-014 391.5 394.5 3.0 2.9 5.49 5.49 PR-2A
PR-21-019 94.0 98.0 4.0 2.8 42.30 13.30 PR-3
PR-21-020 172.5 176.0 3.5 3.4 10.04 10.01 PR-2A
PR-22-023 229.5 234.9 5.4 4.1 4.64 4.64 PR-2
PR-22-024 185.2 189.0 3.8 3.7 44.99 18.45 PR-2A
PR-22-026 196.2 205.6 9.4 9.2 29.98 13.12 PR-2A
PR-22-027 189.9 194.1 4.2 3.9 9.41 9.41 PR-1
PR-22-028 284.0 288.0 4.0 3.1 12.09 12.09 PR-2
PR-22-029 234.5 238.0 3.5 3.3 27.62 12.74 PR-2
PR-22-031 183.5 186.5 3.0 3.0 4.06 4.06 PR-2A
PR-22-032 172.0 175.0 3.0 2.9 6.54 6.54 PR-1
PR-22-034 234.0 237.3 3.3 3.0 24.25 10.63 PR-1
PR-22-035 240.5 243.5 3.0 2.9 3.04 3.04 PR-2A
PR-22-036 288.5 291.5 3.0 2.9 8.77 8.77 PR-2A
PR-22-037 339.0 342.0 3.0 2.8 14.91 14.91 PR-2
PR-22-042 178.2 181.2 3.0 2.9 27.39 17.15 PR-2A
Assays
Hole No.
From
(m)
To
(m)
Core Length
(m)
Grade (g/t
Au)
Cut Grade (35 g/t
Au)
Name
Zone
PR-21-014 391.5 392.5 1.0 0.02 0.02 PR-2A
PR-21-014 392.5 393.5 1.0 16.40 16.40 PR-2A
PR-21-014 393.5 394.5 1.0 0.04 0.04 PR-2A
PR-21-019 94.0 95.0 1.0 16.25 16.25 PR-3
PR-21-019 95.0 96.0 1.0 151.00 35.00 PR-3
PR-21-019 96.0 97.0 1.0 0.50 0.50 PR-3
PR-21-019 97.0 98.0 1.0 1.44 1.44 PR-3
PR-21-020 172.5 174.0 1.5 0.01 0.01 PR-2A
PR-21-020 174.0 175.0 1.0 35.10 35.00 PR-2A
PR-21-020 175.0 176.0 1.0 0.03 0.03 PR-2A
PR-22-023 229.5 231.0 1.5 3.31 3.31 PR-2
PR-22-023 231.0 232.5 1.5 1.46 1.46 PR-2
PR-22-023 232.5 234.0 1.5 6.63 6.63 PR-2
PR-22-023 234.0 234.9 0.9 8.85 8.85 PR-2
PR-22-024 185.2 186.4 1.2 102.50 35.00 PR-2A
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PR-22-024 186.4 187.7 1.3 36.80 35.00 PR-2A
PR-22-024 187.7 189.0 1.3 0.10 0.10 PR-2A
PR-22-026 196.2 197.2 1.0 72.60 35.00 PR-2A
PR-22-026 197.2 198.2 1.0 0.19 0.19 PR-2A
PR-22-026 198.2 199.2 1.0 0.02 0.02 PR-2A
PR-22-026 199.2 200.2 1.0 0.01 0.01 PR-2A
PR-22-026 200.2 201.2 1.0 0.26 0.26 PR-2A
PR-22-026 201.2 202.3 1.1 0.79 0.79 PR-2A
PR-22-026 202.3 203.3 1.0 44.70 35.00 PR-2A
PR-22-026 203.3 204.3 1.0 6.49 6.49 PR-2A
PR-22-026 204.3 205.6 1.3 120.50 35.00 PR-2A
PR-22-027 189.9 190.9 1.0 11.45 11.45 PR-1
PR-22-027 190.9 191.9 1.0 8.63 8.63 PR-1
PR-22-027 191.9 193.0 1.1 0.29 0.29 PR-1
PR-22-027 193.0 194.1 1.1 17.40 17.40 PR-1
PR-22-028 284.0 285.2 1.2 2.07 2.07 PR-2
PR-22-028 285.2 286.3 1.1 2.60 2.60 PR-2
PR-22-028 286.3 286.8 0.5 84.50 35.00 PR-2
PR-22-028 286.8 288.0 1.2 0.64 0.64 PR-2
PR-22-029 234.5 235.8 1.3 0.33 0.33 PR-2
PR-22-029 235.8 237.0 1.2 78.40 35.00 PR-2
PR-22-029 237.0 238.0 1.0 2.16 2.16 PR-2
PR-22-031 183.5 184.5 1.0 10.25 10.25 PR-2A
PR-22-031 184.5 185.5 1.0 1.86 1.86 PR-2A
PR-22-031 185.5 186.5 1.0 0.06 0.06 PR-2A
PR-22-032 172.0 173.0 1.0 0.01 0.01 PR-2A
PR-22-032 173.0 174.0 1.0 19.60 19.60 PR-2A
PR-22-032 174.0 175.0 1.0 0.02 0.02 PR-2A
PR-22-034 234.0 235.3 1.3 0.03 0.03 PR-2A
PR-22-034 235.3 236.6 1.3 61.50 35.00 PR-2A
PR-22-034 236.6 237.3 0.7 0.05 0.05 PR-2A
PR-22-035 240.5 241.5 1.0 0.65 0.65 PR-2A
PR-22-035 241.5 242.5 1.0 0.13 0.13 PR-2A
PR-22-035 242.5 243.5 1.0 8.33 8.33 PR-2A
PR-22-036 288.5 289.5 1.0 0.05 0.05 PR-2A
PR-22-036 289.5 290.5 1.0 26.20 26.20 PR-2A
PR-22-036 290.5 291.5 1.0 0.07 0.07 PR-2A
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PR-22-037 339.0 340.0 1.0 14.00 14.00 PR-2
PR-22-037 340.0 341.0 1.0 30.60 30.60 PR-2
PR-22-037 341.0 342.0 1.0 0.14 0.14 PR-2
PR-22-042 178.2 179.2 1.0 0.66 0.66 PR-2
PR-22-042 179.2 180.2 1.0 65.70 35.00 PR-2
PR-22-042 180.2 181.2 1.0 15.80 15.80 PR-2
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