Wesdome Expands Folded Kiena Deep a Zones Down Plunge and Confirms Mineralization IN a Second Limb at Depth
1
PRESS
RELEASE
June 1, 2022
TSX:WDO
WESDOME EXPANDS FOLDED KIENA DEEP A ZONES DOWN
PLUNGE AND CONFIRMS MINERALIZATION IN A SECOND LIMB AT
DEPTH
Toronto, Ontario – June 1, 2022 – Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the
“Company”) today announces underground exploration drilling results from the Kiena Deep A Zone
at the Company’s 100% owned Kiena Mine Complex in Val d'Or, Quebec.
Since the completion of the PFS for Kiena in 202 1, underground drilling has been focussed on
exploration proximal to the Kiena Deep A Zones. As part of this exploration focus, early success
discovered the Footwall Zones last year, and drilling continues to expand th ese zones down plunge.
Most recently, underground exploration drilling at the Kiena Deep A Zones area has discovered a new
mineralized interval (hole 6752W10) located 100 metres below of the known limit of A zone resource
(Figure 1). Additional drilling will be needed to link this new minerali zation to the existing lenses.
Technical services are currently developing a hanging wall exploration drift (116 level) to establish
more optimal drilling platforms. This new access will allow additional exploration drilling at depth in
order to increase resources.
Previously, exploration drilling has focused in the North limb area of the A Zones, along the sub-
vertical contact between mafic and ultramafic rocks (Figure 2). More recently, drilling has discovered
the lateral extension of the A Zone along the South limb of the fold (Figure 2). This area remains
open along strike and down dip. A similar mineralization along the limbs was known at higher
elevations of the A Zone 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 6796W6: 92.1 g/t Au over 50.7 m core length (23.3 g/t Au capped, 5.5 m true width)
A1 Zone
• Hole 6796W4: 18.7 g/t Au over 48.0 m core length (9.0 g/t Au capped, 5.0 m true width)
A1 Zone
• Hole 6752W10: 13.9 g/t Au over 83.2 m core length (9.9 g/t Au capped) New deep Zone.
True width is unknown at this time.
All assays capped at 90.0 g/t Au. True widths are estimated based on 3D model construction.
Mr. Duncan Middlemiss, President and CEO commented, “ We are please d with the recent
underground drilling which continues to expand the high grade A Zones and Footwall Zones.
We are also very pleased with the discovery of the South limb of the A Zone that could significantly
add to the resource base. Just as the Footwall Zone discovery, this lateral extension of the A Zone
will increase the number of ounces per vertical metre and have the potential to provide additional
working faces during mining. All in all, this can positively impact project economics as the same
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underground infrastructure utilized to access the A Zone can be leveraged to mine these additional
zones on a low unit cost basis.
We are continuing to spend aggressively on exploration at Kiena with $17.7 million to be spent in
2022 that includes approximately 50,000 m of underground drilling and 30,000 m of surface drilling.
It is evident that as we continue to explore and collect new information, we are able to discover traps
for gold mineralization outside of the known zones , thereby demonstrating the prospectivity of this
area and the entire property.”
TECHNICAL DISCLOSURE
The underground technical and geoscientific content of this release has been compiled, reviewed,
and approved by Bruno Turcotte, P.Geo., (OGQ #453) Chief Geologist – Underground
Exploration of the Company, a "Qualified Person" 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 Val d'Or
(Quebec). 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 wit h 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.
COVID-19
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 planning, to date the Company has successfully maintained operations; however,
there can be no assurance that this will continue despite the Compan y’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 negati vely 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.
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ABOUT WESDOME
Wesdome is Canadian focused with two producing underground gold mines. The Company’s goal is
to build Canada’s next intermediate gold producer, producing over 200,000 ounces from two mines
in Ontario and Québec. The Eagle River Underground Mine in Wawa, Ontario is currently producing
gold at a rate of 95,000 – 105,000 ounces per year. The Company is currently milling the final stockpile
of ore from the Mishi Pit with 1,000 – 2,000 ounces expected. The recently re-started Kiena Complex
in Val d’or, Quebec is a fully permitted underground mine and milling operation and the Kiena Mine
is expected to produce 64,000 – 73,000 ounces in 2022. On a combined basis, 2022 guidance is 160,000
ounces – 180,000 ounces. Wesdome is actively exploring underground and on surface within the mine
areas and more regionally at the Eagle River and Kiena Complex. The Company also retains
meaningful exposure to the Moss Lake gold deposit, located 100 kilometre s west of Thunder Bay,
Ontario through its equity position in Goldshore Resources Inc. The Company has approximately
142.5 million shares issued and outstanding and 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:
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,
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
4
Table 1: Kiena Complex Underground 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
(90 g/t Au) Name Zone
6752W10 663.5 675.9 12.4 3.5 6.18 6.18 A Zone
6796W3 238.0 274.0 36.0 6.8 4.84 4.84 A Zone
6796W6 65.0 75.5 10.5 4.0 43.84 19.37 A Zone
6819W2 199.0 205.3 6.3 3.0 22.42 15.36 A Zone
6819W3 253.4 260.4 7.0 3.2 10.81 10.81 A Zone
6829 740.8 745.1 4.3 2.5 7.11 7.11 A Zone
6829W1 159.3 164.0 4.7 2.6 51.43 16.54 A Zone
6829W2 190.1 194.3 4.2 2.5 17.80 17.80 A Zone
6796W4 145.2 193.2 48.0 5.0 18.70 9.02 A1 Zone
6796W5 38.8 75.9 37.1 5.0 3.82 3.82 A1 Zone
6796W6 94.0 144.7 50.7 5.5 92.11 23.27 A1 Zone
6796W4 197.2 203.2 6.0 3.0 90.81 36.31 A2 Zone
6796W5 87.3 114.7 27.4 3.5 7.76 7.36 A2 Zone
6796W5 123 129.0 6.0 3.0 7.31 7.31 FWZ_1
6796W5 139.0 153.9 14.9 4.5 4.05 4.05 FWZ_2
6752W10 748.9 832.1 83.2 13.94 9.94 new
Including 748.8 770.5 21.7 44.85 26.37 new
6820 812.4 816.6 4.2 29.89 13.75 new
Assays
Hole No.
From
(m)
To
(m)
Core Length
(m)
Grade (g/t
Au)
Cut Grade (90 g/t
Au)
Name
Zone
6752W10 663.5 665 1.5 4.65 4.65 A Zone
6752W10 665.0 666.5 1.5 0.18 0.18 A Zone
6752W10 666.5 667.5 1.0 0.04 0.04 A Zone
6752W10 667.5 668.5 1.0 0.13 0.13 A Zone
6752W10 668.5 669.4 0.9 0.12 0.12 A Zone
6752W10 669.4 670.4 1.0 20.20 34.70 A Zone
6752W10 670.4 671.4 1.0 0.94 0.94 A Zone
6752W10 671.4 672.4 1.0 21.10 14.30 A Zone
6752W10 672.4 673.4 1.0 6.03 6.03 A Zone
6752W10 673.4 674.1 0.7 0.56 0.56 A Zone
6752W10 674.1 674.9 0.8 0.94 0.94 A Zone
6752W10 674.9 675.9 1.0 11.95 11.95 A Zone
6752W10 748.9 749.9 1.0 28.30 28.30 ?
6752W10 749.9 751.2 1.3 0.62 0.62 ?
6752W10 751.2 752.4 1.2 14.60 14.60 ?
6752W10 752.4 753.4 1.0 0.99 0.99 ?
5
6752W10 753.4 754.3 0.9 0.66 0.66 ?
6752W10 754.3 755.4 1.1 0.50 0.50 ?
6752W10 755.4 756.7 1.3 2.34 2.34 ?
6752W10 756.7 758.0 1.3 1.80 1.80 ?
6752W10 758.0 759.0 1.0 4.15 4.15 ?
6752W10 759.0 760.0 1.0 6.87 6.87 ?
6752W10 760.0 761.0 1.0 2.14 2.14 ?
6752W10 761.0 762.0 1.0 1.57 1.57 ?
6752W10 762.0 763.0 1.0 90.60 90.00 ?
6752W10 763.0 764.0 1.0 295.00 90.00 ?
6752W10 764.0 765.0 1.0 192.00 90.00 ?
6752W10 765.0 766.0 1.0 30.90 30.90 ?
6752W10 766.0 766.8 0.8 3.22 3.22 ?
6752W10 766.8 767.5 0.7 155.00 90.00 ?
6752W10 767.5 768.5 1.0 136.00 90.00 ?
6752W10 768.5 769.5 1.0 25.20 25.20 ?
6752W10 769.5 770.5 1.0 19.05 19.05 ?
6752W10 770.5 771.1 0.6 1.54 1.54 ?
6752W10 771.1 772.6 1.5 0.71 0.71 ?
6752W10 772.6 773.3 0.7 2.10 2.10 ?
6752W10 773.3 774.3 1.0 0.27 0.27 ?
6752W10 774.3 775.3 1.0 1.27 1.27 ?
6752W10 775.3 776.4 1.1 11.25 11.25 ?
6752W10 776.4 777.4 1.0 4.01 4.01 ?
6752W10 777.4 778.9 1.5 2.26 2.26 ?
6752W10 778.9 779.9 1.0 1.08 1.08 ?
6752W10 779.9 780.9 1.0 4.81 4.81 ?
6752W10 780.9 781.9 1.0 2.48 2.48 ?
6752W10 781.9 782.9 1.0 5.13 5.13 ?
6752W10 782.9 784.3 1.4 1.88 1.88 ?
6752W10 784.3 785.8 1.5 13.70 13.70 ?
6752W10 785.8 786.7 0.9 1.03 1.03 ?
6752W10 786.7 788.1 1.4 3.23 3.23 ?
6752W10 788.1 788.9 0.8 2.23 2.23 ?
6752W10 788.9 789.9 1.0 2.33 2.33 ?
6752W10 789.9 790.9 1.0 1.31 1.31 ?
6752W10 790.9 791.9 1.0 2.13 2.13 ?
6752W10 791.9 792.9 1.0 0.11 0.11 ?
6752W10 792.9 793.9 1.0 3.67 3.67 ?
6752W10 793.9 795.3 1.4 0.70 0.70 ?
6752W10 795.3 796.8 1.5 0.22 0.22 ?
6752W10 796.8 797.9 1.1 4.69 4.69 ?
6752W10 797.9 799.0 1.1 2.84 2.84 ?
6752W10 799.0 800.0 1.0 1.14 1.14 ?
6752W10 800.0 801.0 1.0 11.75 11.75 ?
6752W10 801.0 802.0 1.0 9.86 9.86 ?
6
6752W10 802.0 803.0 1.0 3.87 3.87 ?
6752W10 803.0 804.0 1.0 6.00 6.00 ?
6752W10 804.0 805.5 1.5 1.68 1.68 ?
6752W10 805.5 807.0 1.5 1.24 1.24 ?
6752W10 807.0 808.5 1.5 0.73 0.73 ?
6752W10 808.5 809.5 1.0 5.78 5.78 ?
6752W10 809.5 810.5 1.0 2.84 2.84 ?
6752W10 810.5 811.5 1.0 8.11 8.11 ?
6752W10 811.5 812.5 1.0 3.38 3.38 ?
6752W10 812.5 813.5 1.0 2.81 2.81 ?
6752W10 813.5 815.0 1.5 2.28 2.28 ?
6752W10 815.0 816.0 1.0 0.67 0.67 ?
6752W10 816.0 817.0 1.0 5.69 5.69 ?
6752W10 817.0 818.0 1.0 20.10 20.10 ?
6752W10 818.0 819.0 1.0 4.27 4.27 ?
6752W10 819.0 820.0 1.0 6.74 6.74 ?
6752W10 820.0 821.0 1.0 8.48 8.48 ?
6752W10 821.0 822.0 1.0 6.85 6.85 ?
6752W10 822.0 823.0 1.0 15.65 15.65 ?
6752W10 823.0 824.0 1.0 19.25 19.25 ?
6752W10 824.0 825.5 1.5 4.95 4.95 ?
6752W10 825.5 827.0 1.5 5.09 5.09 ?
6752W10 827.0 828.5 1.5 0.70 0.70 ?
6752W10 828.5 830.0 1.5 0.79 0.79 ?
6752W10 830.0 831.0 1.0 0.05 0.05 ?
6752W10 831.0 832.1 1.1 7.96 7.96 ?
6796W3 238.0 239.5 1.5 2.43 2.43 A Zone
6796W3 239.5 240.6 1.1 0.15 0.15 A Zone
6796W3 240.6 241.7 1.1 0.31 0.31 A Zone
6796W3 241.7 242.8 1.1 1.27 1.27 A Zone
6796W3 242.8 244.0 1.2 0.11 0.11 A Zone
6796W3 244.0 245.0 1.0 0.67 0.67 A Zone
6796W3 245.0 246.0 1.0 0.64 0.64 A Zone
6796W3 246.0 247.0 1.0 27.90 27.90 A Zone
6796W3 247.0 248.0 1.0 5.36 5.36 A Zone
6796W3 248.0 249.0 1.0 1.41 1.41 A Zone
6796W3 249.0 250.0 1.0 0.08 0.08 A Zone
6796W3 250.0 251.5 1.5 15.05 15.05 A Zone
6796W3 251.5 252.5 1.0 26.20 26.20 A Zone
6796W3 252.5 253.5 1.0 16.50 16.50 A Zone
6796W3 253.5 254.5 1.0 7.10 7.10 A Zone
6796W3 254.5 255.5 1.0 2.63 2.63 A Zone
6796W3 255.5 256.5 1.0 0.34 0.34 A Zone
6796W3 256.5 257.5 1.0 0.24 0.24 A Zone
6796W3 257.5 258.5 1.0 0.63 0.63 A Zone
7
6796W3 258.5 259.5 1.0 2.63 2.63 A Zone
6796W3 259.5 260.5 1.0 7.01 7.01 A Zone
6796W3 260.5 261.4 0.9 5.48 5.48 A Zone
6796W3 261.4 262.3 0.9 8.63 8.63 A Zone
6796W3 262.3 263.5 1.2 5.93 5.93 A Zone
6796W3 263.5 264.5 1.0 4.76 4.76 A Zone
6796W3 264.5 265.5 1.0 1.22 1.22 A Zone
6796W3 265.5 266.5 1.0 0.24 0.24 A Zone
6796W3 266.5 268.0 1.5 9.25 9.25 A Zone
6796W3 268.0 269.5 1.5 0.84 0.84 A Zone
6796W3 269.5 271.0 1.5 0.33 0.33 A Zone
6796W3 271.0 272.5 1.5 1.70 1.70 A Zone
6796W3 272.5 274.0 1.5 1.62 1.62 A Zone
6796W4 145.2 146.2 1.0 3.28 3.28 A1 Zone
6796W4 146.2 147.2 1.0 0.15 0.15 A1 Zone
6796W4 147.2 148.2 1.0 0.65 0.65 A1 Zone
6796W4 148.2 149.2 1.0 0.08 0.08 A1 Zone
6796W4 149.2 150.2 1.0 31.90 31.90 A1 Zone
6796W4 150.2 151.2 1.0 7.26 7.26 A1 Zone
6796W4 151.2 152.2 1.0 2.94 2.94 A1 Zone
6796W4 152.2 153.2 1.0 3.74 3.74 A1 Zone
6796W4 153.2 154.2 1.0 1.51 1.51 A1 Zone
6796W4 154.2 155.2 1.0 1.47 1.47 A1 Zone
6796W4 155.2 156.2 1.0 2.39 2.39 A1 Zone
6796W4 156.2 157.2 1.0 2.79 2.79 A1 Zone
6796W4 157.2 158.2 1.0 5.29 5.29 A1 Zone
6796W4 158.2 158.8 0.6 0.86 0.86 A1 Zone
6796W4 158.8 159.8 1.0 0.22 0.22 A1 Zone
6796W4 159.8 160.8 1.0 0.09 0.09 A1 Zone
6796W4 160.8 161.8 1.0 3.55 3.55 A1 Zone
6796W4 161.8 162.8 1.0 2.04 2.04 A1 Zone
6796W4 162.8 163.6 0.8 4.52 4.52 A1 Zone
6796W4 163.6 164.6 1.0 34.80 34.80 A1 Zone
6796W4 164.6 165.3 0.7 26.20 26.20 A1 Zone
6796W4 165.3 166.6 1.3 0.04 0.04 A1 Zone
6796W4 166.6 167.6 1.0 0.50 0.50 A1 Zone
6796W4 167.6 168.6 1.0 0.15 0.15 A1 Zone
6796W4 168.6 169.6 1.0 46.70 46.70 A1 Zone
6796W4 169.6 170.6 1.0 16.35 16.35 A1 Zone
6796W4 170.6 171.6 1.0 3.47 3.47 A1 Zone
6796W4 171.6 172.7 1.1 29.30 29.30 A1 Zone
6796W4 172.7 173.7 1.0 4.17 4.17 A1 Zone
6796W4 173.7 174.7 1.0 3.29 3.29 A1 Zone
6796W4 174.7 175.5 0.8 0.16 0.16 A1 Zone
6796W4 175.5 176.3 0.8 0.86 0.86 A1 Zone
8
6796W4 176.3 176.8 0.5 3.57 3.57 A1 Zone
6796W4 176.8 177.8 1.0 7.93 7.93 A1 Zone
6796W4 177.8 178.8 1.0 16.95 16.95 A1 Zone
6796W4 178.8 179.5 0.7 2.02 2.02 A1 Zone
6796W4 179.5 180.3 0.8 2.08 2.08 A1 Zone
6796W4 180.3 181.1 0.8 8.61 8.61 A1 Zone
6796W4 181.1 181.7 0.6 1.16 1.16 A1 Zone
6796W4 181.7 183.2 1.5 2.88 2.88 A1 Zone
6796W4 183.2 184.2 1.0 1.60 1.60 A1 Zone
6796W4 184.2 185.2 1.0 4.26 4.26 A1 Zone
6796W4 185.2 186.2 1.0 555.00 90.00 A1 Zone
6796W4 186.2 187.2 1.0 20.20 20.20 A1 Zone
6796W4 187.2 188.2 1.0 7.33 7.33 A1 Zone
6796W4 188.2 189.2 1.0 6.81 6.81 A1 Zone
6796W4 189.2 190.2 1.0 4.08 4.08 A1 Zone
6796W4 190.2 191.2 1.0 1.11 1.11 A1 Zone
6796W4 191.2 192.2 1.0 1.69 1.69 A1 Zone
6796W4 192.2 193.2 1.0 19.70 19.70 A1 Zone
6796W4 197.2 198.2 1.0 8.51 8.51 A2 Zone
6796W4 198.2 199.2 1.0 0.95 0.95 A2 Zone
6796W4 199.2 200.2 1.0 276.00 90.00 A2 Zone
6796W4 200.2 201.2 1.0 231.00 90.00 A2 Zone
6796W4 201.2 202.2 1.0 27.90 27.90 A2 Zone
6796W4 202.2 203.2 1.0 0.51 0.51 A2 Zone
6796W5 38.8 39.8 1.0 16.70 16.70 A1 Zone
6796W5 39.8 40.8 1.0 11.90 11.90 A1 Zone
6796W5 40.8 41.8 1.0 0.92 0.92 A1 Zone
6796W5 41.8 42.8 1.0 1.56 1.56 A1 Zone
6796W5 42.8 43.6 0.8 0.95 0.95 A1 Zone
6796W5 43.6 45.1 1.5 0.04 0.04 A1 Zone
6796W5 45.1 46.6 1.5 0.10 0.10 A1 Zone
6796W5 46.6 48.1 1.5 0.06 0.06 A1 Zone
6796W5 48.1 49.6 1.5 0.04 0.04 A1 Zone
6796W5 49.6 51.1 1.5 0.11 0.11 A1 Zone
6796W5 51.1 52.6 1.5 0.03 0.03 A1 Zone
6796W5 52.6 54.1 1.5 0.21 0.21 A1 Zone
6796W5 54.1 55.4 1.3 0.19 0.19 A1 Zone
6796W5 55.4 56.7 1.3 3.11 3.11 A1 Zone
6796W5 56.7 57.7 1.0 2.52 2.52 A1 Zone
6796W5 57.7 58.7 1.0 3.11 3.11 A1 Zone
6796W5 58.7 59.7 1.0 1.04 1.04 A1 Zone
6796W5 59.7 60.4 0.7 1.54 1.54 A1 Zone
6796W5 60.4 61.3 0.9 34.10 34.10 A1 Zone
6796W5 61.3 62.7 1.4 0.33 0.33 A1 Zone