Wesdome Gold Mines (TSX: WDO)
Announced results from the ongoing underground exploration drilling program at the Company’s wholly-owned Eagle River Mine in Wawa, Ontario.
|Wesdome Gold||TSX : WDO|
|Market cap||C$1 B @ C$7.26|
|Location||Ontario and Quebec, Canada|
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, June 14, 2023 (GLOBE NEWSWIRE) — 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. 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 an
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.
“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.”
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