Wesdome Exploration Drilling Continues to Expand High Grade 300 East Zone Down Plunge at the Eagle River MINE Returning 40.7 Grams PER Tonne GOLD Cut over 6.0 Metres True Width
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PRESS
RELEASE
June 14, 2023
TSX:WDO
WESDOME EXPLORATION DRILLING CONTINUES TO EXPAND
HIGH GRADE 300 EAST ZONE DOWN PLUNGE AT THE EAGLE
RIVER MINE RETURNING 40.7 GRAMS PER TONNE GOLD CUT OVER
6.0 METRES TRUE WIDTH
Toronto, Ontario – June 14 2023 – Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the
“Company”) today announces results from the ongoing underground exploration drilling program at
the Company’s wholly-owned Eagle River Mine in Wawa, Ontario.
Ongoing extension and definition drilling of the 300 East Zone has continued to confirm the
continuity of the geometry and the consistency of the high-grade mineralization down plunge. The
300 East Zone, previously defined from the 750 m-level to 1,400 m-level, has now been extended to
the 1,600 m-level and remains open down plunge (Figure 1). The width of the quartz veining is
typically less than 1.5 metres true width; however, recent drilling along the eastern margin of the 300
East Zone has returned wider widths. This occurs in an area that is interpreted to be at the
intersection of several structures having different orientations and/or folding resulting in wider
zones of gold mineralization. These wider widths and more complex geometry are similar to that of
the previously mined 303 Lens located approximately 400 m up plunge from this area, which was
mostly mined in 2019.
Highlights of the recent drilling are found below and are summarized in Table 1.
• Hole 925-E-231: 77.6 g/t Au over 9.4 m core length (40.7 g/t Au cut, 6.0 m true width)
o Including 225.1 g/t Au over 3.0 m core length
• Hole 925-E-233: 42.6 g/t Au over 4.9 m core length (42.3 g/t Au cut, 1.7 m true width)
o Including 62.8 g/t Au over 3.3 m core length
• Hole 771-E-33: 150.7 g/t Au over 2.8 m core length (51.7 g/t Au cut, 1.6 m true width)
o Including 497.8 g/t Au over 0.7 m core length
All assays cut to 140.0 g/t Au. True widths are estimated.
Warwick Morley-Jepson, Board Chair and Interim CEO commented, “These results continue to
confirm the geometry and high grades of the 300 East Zone. The objective of drilling this zone is to
define a second, higher-grade lens similar to the previously mined 303 Lens that could potentially
positively impact gold production. The 303 Lens was mined primarily in 2019 and average muck
grade was 46.1 g/t.
Additionally, the drilling of the 300 East Zone confirms the continuity of the mineralization at
depth, thus suggesting that many other similar zones, such as 808, 811, 818, 711 and 7 East, have
this same potential to continue at depth.
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Elsewhere at Eagle River, the Company is following up on multiple encouraging drill intersections
last year both west of and along strike of, and subparallel to the Falcon 7 zone, including the western
extension of the 311 West and 5 zones in the volcanic rocks. Any resources discovered in this area
could meaningfully enhance the future operational flexibility of the asset.
Meanwhile, we remain focused in 2023 on converting a large, inferred base into indicated and
measured resources and subsequently reserves.”
TECHNICAL DISCLOSURE AND QA/QC
The sampling of, and assay data, from drill core is monitored through the implementation of a
quality assurance - quality control (QA-QC) program designed to follow industry best practice.
Underground drill samples are transported in sealed bags to the 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 standards into the sample sequence for
quality control at the laboratory. The QA/QC procedure is described in more detail in the 2022
Technical Report filed on SEDAR on April 22, 2022.
The technical content of this release has been compiled, reviewed, and approved by Aliou Sene,
P.Geo., Chief Mine Geologist at Eagle River Complex of the Company a "Qualified Person" as
defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.
ABOUT WESDOME
Wesdome is a Canadian focused gold producer with two high grade undergroun d 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 under the symbol
“WDO,” with a secondary listing on the OTCQX under the symbol “WDOFF.”
For further information, please contact:
Warwick Morley-Jepson or Lindsay Carpenter Dunlop
Board Chair & Interim 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
FORWARD-LOOKING INFORMATION
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This news release contains “forward -looking information” which may include, but is not limited to,
statements with respect to the benefits of achieving commercial production at Kiena, the Company’s
expected capital expenditure in 2023, the timing around re aching the Kiena Deep A Zone, the
Company’s ability to be cash flow positive and its annual production run rate. 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.
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Table 1 - Drill Hole Composites
Hole Zone From
(m) To (m) Width
(m)
True Width
(m)
Au g/t
(Uncapped)
Au g/t
(Capped at
140 g/t)
771-E-33 300 981.50 984.50 3.00 1.50 7.98 7.98
771-E-33 300 996.00 998.80 2.80 1.61 150.69 51.68
771-E-38 300 941.66 944.27 2.61 1.50 36.03 35.41
771-E-50 300 756.50 758.84 2.34 1.50 56.60 46.12
771-E-65 300 1050.60 1053.60 3.00 1.50 18.29 18.29
771-E-65 300 1128.90 1133.30 4.40 1.50 5.57 5.57
771-E-66 300 1098.20 1101.20 3.00 1.50 5.88 5.88
771-E-67 300 1102.05 1104.70 2.65 1.70 4.26 4.26
925-E-205 300 362.70 365.70 3.00 1.50 10.15 10.15
925-E-207 300 426.10 430.50 4.40 1.50 24.55 14.20
925-E-212 300 547.90 553.30 5.40 2.28 15.20 10.48
925-E-213 300 713.10 714.70 1.60 1.50 13.24 13.24
925-E-217 300 368.40 371.40 3.00 1.50 31.41 15.56
925-E-219 300 336.20 339.75 3.55 1.50 20.88 20.88
925-E-220 300 346.10 350.50 4.40 1.50 6.42 6.42
925-E-221 300 410.70 415.10 4.40 1.50 10.39 10.39
924-E-224 300 468.70 473.30 4.60 1.57 37.29 37.29
925-E-231 300 447.30 456.70 9.40 6.04 83.20 40.68
925-E-232 300 517.90 522.30 4.40 1.50 4.43 4.43
925-E-233 300 390.60 395.50 4.90 1.68 42.56 42.31
925-E-234 300 558.00 563.70 5.70 3.66 12.66 12.66
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Figure One