Wesdome Drilling Confirms Continuity of Presqu’Île Zone and Prepares FOR Exploration RAMP Development at Kiena MINE
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WESDOME DRILLING CONFIRMS CONTINUITY OF PRESQU’ÎLE ZONE AND PREPARES FOR
EXPLORATION RAMP DEVELOPMENT AT KIENA MINE
Toronto, Ontario – September 19, 2023 – Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today
announces the 2023 surface exploration drilling results from the Presqu’île Zone located 1.3 km north-west of the
Company’s 100% owned Kiena Mine Complex in Val d'Or, Quebec.
Recent drilling at Presqu’île is part of an ongoing exploration program focussing on near surface gold potential along strike
from Kiena that remains under explored. Drilling results from the Shawkey and Dubuisson Zones, located further to the
east along strike, were released earlier this year (see May 23, 2023 release, “Wesdome Drilling Southeast of Kiena Mine
Identifies Potential Bulk Tonnage Underground Target; Returning 2.3 g/t Gold Over 72 m Core Length”). Ongoing drilling
highlights the potential of this area to add to the existing resource base proximal to mine infrastructure and remains a
priority for the Company (Figure 1).
Highlights of recent in-fill drilling are listed below and are summarized in Table 1. Assay results for nine (9) of thirty-two
(32) diamond drill holes planned are pending.
• Hole PR-23-070: 32.5 g/t over 3.0 m core length (30.0 g/t Au capped*, 2.9 true width) PR-2A Zone.
• Hole PR-23-084 : 14.0 g/t Au over 5.3 m core length (14.0 g/t Au capped*, 4.0 m true width) PR-2 Zone.
• Hole PR-23-058A : 9.31 g/t Au over 4.6 m core length (9.31 g/t Au capped*, 4.3 m true width) PR-2 Zone.
* All assays capped at 90 g/t. Au. True widths are estimated based on 3D model construction.
Ms. Anthea Bath, President and CEO commented, “We are pleased with the recent surface d rill results that confirm
continuity of mineralization at Presqu’île. The Presqu’île Zone is just one of several zones having the potential to offer a
supplementary source of mill feed near-surface or in the upper mine area for the underutilized Kiena mill. Recent drilling
results from the Shawkey and Dubuisson Zones, both adjacent to the existing 33-level track drift development that extends
over three kilometres east of the Kiena mine shaft, further reinforces the potential of this area. As our exploratio n
continues and the refinement of the geologic model increases, we are confident we will identify more zones of gold
mineralization accessible from 33 level, as well as additional down plunge extensions similar to the Kiena Deep Zone.
Recent drilling supports the decision to proceed with the exploration ramp from surface later this year to further assess
the continuity of the mineralization and test the down plunge extension of the deposit. The excavation of the ramp is
expected to proceed in Q4 2023 once required permits are secured. This ramp can also be integrated with Kiena's existing
underground ramp network, providing additional access to surface for ongoing operations and future mining of deposits
such as Dubuisson from 33 level further to the east.”
Since 2020, drilling at Presqu’île has identified five gold -rich zones crosscutting mafic rocks (Zones PR-1, 2 and 2A) and
ultramafic rocks (Zones PR-3 and 4). PR-1 and PR-2A are parallel to each other trending east-west and dipping north, while
PR-2 strikes southeast-northwest and crosscut the east -west zones. Gold mineralization is associated with traces to 5%
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disseminated sulphides (pyrite, pyrrhotite, chalcopyrite, sphalerite and galena) and local gold grains occurring in quartz -
chlorite-carbonate or quartz (grey) vein contacts as well as in moderately to strongly chloritized and biotitized host rocks.
The 2023 surface drilling program, which is expected to be completed by the end of September, was designed to increase
the size and confidence in the mineral resources for Zones PR-1, 2 and 2A (Figure 2). The 2023 drilling program confirmed
not only the continuity of the gold mineralization at Presqu’île and the validity of the geologic model, but also the potential
for down plunge extensions toward east of Zones PR-2 and PR -2A. Both zones are interpreted as excellent target for a
follow up drilling program from surface or from underground with development of an exploration ramp.
Presqu’île has a mineral resource estimation of 138,000 tonnes grading 8.2 g/t Au totalling 37,000 oz as Indicated Mineral
Resources and Inferred Mineral Resource of 202,000 tonnes grading 7.4 g/t and totalling 48,000 oz of gold from the three
lenses (PR-1, PR-2, and PR-2A Zones) as of December 31, 2022.
TECHNICAL DISCLOSURE
The technical and geoscientific content of this release has been compiled and reviewed by Denys Vermette, P. Geo.,
(OGQ #564) Exploration Manager of the Company, and a "Qualified Person" as defined in National Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
Sample preparation and analytical work was performed by ALS Minerals of Winnipeg (Manitoba), a certified commercial
laboratory (Accredited Lab #689). Assaying comprised fire assay methods with an atomic absorption 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 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 is a Canadian focused gold producer with two high grade underground assets, the Eagle River mine in Ontario
and the recently commissioned Kiena mine in Quebec. 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 under the symbol “WDO,” with a secondary listing on the
OTCQX under the symbol “WDOFF.”
For further information, please contact:
Lindsay Carpenter Dunlop
VP Investor Relations
416-360-3743 ext. 2025
220 Bay St, Suite 1200
Toronto, ON, M5J 2W4
Toll Free: 1-866-4-WDO-TSX
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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 sho uld 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 no t 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: Kiena Complex Surface Drilling Assay and Composite Results
Composites
Hole ID Zone From (m) To (m) Core length
(m)
Estimated
true width (m)
Au (g/t
FINAL)
Au (g/t FINAL
(cut 90))
PR-23-058A PR_2A 362.5 366.0 3.5 3.3 3.85 3.85
PR-23-058A PR_2 392.0 396.6 4.6 4.3 9.31 9.31
PR-23-059 PR_2 363.0 366.0 3.0 2.9 3.32 3.32
PR-23-061 PR_2A 354.4 357.4 3.0 2.8 5.02 5.02
PR-23-069 PR_2 235.0 238.0 3.0 2.8 9.41 9.41
PR-23-070 PR_2A 207.5 210.5 3.0 2.9 32.51 30.01
PR-23-070 PR_2 216.0 219.0 3.0 2.9 15.62 15.62
PR-23-072 PR_2A 206.0 209.0 3.0 2.9 4.88 4.88
PR-23-073 PR_2A 230.7 233.7 3.0 2.5 9.06 9.06
PR-23-074 PR_2 259.4 266.0 6.6 5.2 3.94 3.94
PR-23-075A PR_2A 195.7 199.7 4.0 3.2 6.97 6.97
PR-23-076 PR_2A 159.6 163.6 4.0 3.7 14.94 14.94
PR-23-076 PR_2 192.9 195.9 3.0 2.8 3.69 3.69
PR-23-077 PR_2 174.0 180.4 6.4 6.0 6.12 6.12
PR-23-079 PR_2 168.2 172.0 3.8 3.4 2.92 2.92
PR-23-081 PR_2A 153.0 157.0 4.0 3.2 7.12 7.12
PR-23-082 PR_2A 134.2 137.2 3.0 2.8 8.12 8.12
PR-23-084 PR_2 164.6 169.9 5.3 4.0 13.96 13.96
• Mineralized zones were expanded to a miniumum 2.8 metre true width maintaining a grade over 2.8 g/t
Assays
Hole ID Zone From
(m) To (m) Sample number Core
length Au (g/t FINAL) Au (g/t) FINAL
(cut 90)
PR-23-058A
PR_2A
362.5 363.5 E769531 1.0 0.02 0.02
PR-23-058A 363.5 365.0 E769532 1.5 0.18 0.18
PR-23-058A 365.0 366.0 E769533 1.0 13.2 13.2
PR-23-058A
PR_2
392.0 393.0 E769536 1.0 0.02 0.02
PR-23-058A 393.0 394.0 E769537 1.0 42.3 42.3
PR-23-058A 394.0 395.3 E769538 1.3 0.15 0.15
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PR-23-058A 395.3 396.6 E769539 1.3 0.25 0.25
PR-23-059 PR_2 363.0 364.5 E762761 1.5 0.01 0.01
PR-23-059 364.5 366.0 E762762 1.5 6.63 6.63
PR-23-061
PR_2A
354.4 355.4 E769691 1.0 14.15 14.15
PR-23-061 355.4 356.4 E769692 1.0 0.06 0.06
PR-23-061 356.4 357.4 E769694 1.0 0.84 0.84
PR-23-069
PR_2
235.0 236.0 E769521 1.0 22.8 22.8
PR-23-069 236.0 237.0 E769522 1.0 0.05 0.05
PR-23-069 237.0 238.0 E769523 1.0 5.39 5.39
PR-23-070
PR_2A
207.5 208.5 E769525 1.0 0.01 0.01
PR-23-070 208.5 209.5 E769526 1.0 97.5 90,00
PR-23-070 209.5 210.5 E769527 1.0 0.01 0.01
PR-23-070
PR_2
216.0 217.0 E762564 1.0 14.8 14.8
PR-23-070 217.0 217.8 E762565 0.8 18.25 18.25
PR-23-070 217.8 219.0 E762566 1.2 14.55 14.55
PR-23-072
PR_2A
206.0 207.0 E769614 1.0 14.4 14.4
PR-23-072 207.0 208.0 E769616 1.0 0.21 0.21
PR-23-072 208.0 209.0 E769617 1.0 0.03 0.03
PR-23-073
PR_2A
230.7 231.7 E769563 1.0 0.02 0.02
PR-23-073 231.7 232.7 E769564 1.0 27.1 27.1
PR-23-073 232.7 233.7 E769565 1.0 0.05 0.05
PR-23-074
PR_2
259.4 260.4 E769645 1.0 8.79 8.79
PR-23-074 260.4 261.4 E769646 1.0 0.02 0.02
PR-23-074 261.4 262.4 E769647 1.0 0.02 0.02
PR-23-074 262.4 263.4 E769648 1.0 0,00 0,00
PR-23-074 263.4 264.0 E769650 0.6 0,00 0,00
PR-23-074 264.0 265.0 E769651 1.0 16.2 16.2
PR-23-074 265.0 266.0 E769652 1.0 0.95 0.95
PR-23-075A PR_2A 195.7 196.7 E769541 1.0 0.02 0.02
PR-23-075A 196.7 197.7 E769542 1.0 0.02 0.02
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PR-23-075A 197.7 198.7 E769543 1.0 27.8 27.8
PR-23-075A 198.7 199.7 E769545 1.0 0.03 0.03
PR-23-076
PR_2A
159.6 160.6 E769547 1.0 0.05 0.05
PR-23-076 160.6 161.6 E769548 1.0 0.04 0.04
PR-23-076 161.6 162.6 E769549 1.0 59.4 59.4
PR-23-076 162.6 163.6 E769551 1.0 0.06 0.06
PR-23-076
PR_2
192.9 193.9 E769559 1.0 1.23 1.23
PR-23-076 193.9 194.9 E769560 1.0 9.39 9.39
PR-23-076 194.9 195.9 E769561 1.0 0.46 0.46
PR-23-077
PR_2
174.0 174.8 E769582 0.8 4.73 4.73
PR-23-077 174.8 175.6 E769583 0.8 39.9 39.9
PR-23-077 175.6 176.6 E769585 1.0 0.06 0.06
PR-23-077 176.6 177.6 E769586 1.0 0.77 0.77
PR-23-077 177.6 178.5 E769587 0.9 0.08 0.08
PR-23-077 178.5 179.4 E769588 0.9 0.9 0.9
PR-23-077 179.4 180.4 E769589 1.0 1.74 1.74
PR-23-079
PR_2
168.2 169.2 E769607 1.0 0.01 0.01
PR-23-079 169.2 170.2 E769608 1.0 3.92 3.92
PR-23-079 170.2 171.0 E769609 0.8 8.96 8.96
PR-23-079 171.0 172.0 E769610 1.0 0.01 0.01
PR-23-081
PR_2A
153.0 154.0 E769664 1.0 0.11 0.11
PR-23-081 154.0 155.0 E769665 1.0 0.02 0.02
PR-23-081 155.0 156.0 E769666 1.0 0.25 0.25
PR-23-081 156.0 157.0 E769668 1.0 28.1 28.1
PR-23-082
PR_2A
134.2 135.2 E769659 1.0 0.14 0.14
PR-23-082 135.2 136.2 E769660 1.0 0.53 0.53
PR-23-082 136.2 137.2 E769661 1.0 23.7 23.7
PR-23-084 PR_2 164.6 165.7 E769683 1.1 59.3 59.3
PR-23-084 165.7 166.7 E769684 1.0 5.26 5.26
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PR-23-084 166.7 167.7 E769685 1.0 0.21 0.21
PR-23-084 167.7 168.7 E769686 1.0 0.07 0.07
PR-23-084 168.7 169.9 E769687 1.2 2.66 2.66
Figure 1
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Figure 2