Wesdome Gold Mines Ltd., Duncan Middlemiss, President and CEO
Source: Canadian Institute of Mining
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Wesdome (TSX:WDO) has released its lates exploration results from the Kiena Mine Complex, in Val d’Or, Quebec
  • The highest intersect was 1143.8 grams per tonne of gold across 10 meters.
  • The results also include 25.3 grams per tonne over 17.2 metres and 86.5 grams per tonne over 9.7 metres
  • The mine was initially shut down in 2013
  • A pre-economic assessment is currently underway and will be release in the second quarter 2020
  • Wesdome Gold Mines Ltd. (WDO) was up 3.19 per cent, with shares currently trading for C$10.04

Wesdome Gold Mines Ltd. (TSX:WDO) continues to intersect high-grades while exploring the Kiena Mine Complex, in Val d’Or, Quebec.

During a seven-drill program, the company intersected grades as high as 1143.8 grams per tonne of gold across 10 meters.

Other highlights from the results include 25.3 grams per tonne over 17.2 metres and 86.5 grams per tonne over 9.7 metres.

Wesdome has also completed an exploration ramp to further define the targeted mineralisation. If the property moves into production, the ramp would also serve as a haulage drift.

Wesdome took the opportunity to drill mid-way down the ramp, while it was still under construction.

The drill results returned further grades of gold mineralisation. Though this new intersect is not the current focus of exploration, Duncan Middlemiss, the company’s CEO, recognising potential in the latest discovery.

“This zone definitely requires follow up drilling but it illustrates the potential of discovering more gold horizons in the immediate area around the Kiena mine with focussed exploration,” he said.

The Kiena Complex was shut down in 2013. Wesdome cited uncertainty in the Canadian dollar gold price, and decreasing grades as reasons for closure.

However, the compelling exploration results reported over the last year suggest the mine could be viable in the future.

Wesdome is in the process of completing a pre-economic assessment, based on the latest mineral estimates published last September.

This assessment is due to be publish in the second quarter of this year.

Wesdome Gold Mines Ltd. (WDO) was up 3.19 per cent, with shares currently trading for C$10.04.

More From The Market Herald

" Discovery Silver (TSXV:DSV) sees expansion potential with final phase 2 drill holes at Cordero

Discovery Silver (DSV) released the results of the final 26 drill holes from the second phase of its drill program at Cordero.
Falcon Gold - CEO, Karim Rayani.

" Falcon Gold (TSXV:FG) completes airborne magnetic survey over Gaspard Gold Project

Falcon Gold (FG) has finalized an airborne magnetic survey over the Gaspard Gold Project in B.C.

" Hudson Resources (TSXV:HUD) announces shares for debt transactions

Hudson Resources (HUD) has agreed to issue 3,233,333 common shares at a price of C$0.05 per share in settlement of debts.

" Skyharbour (TSXV:SYH) signs option agreement with Yellow Rocks Energy to option the Wallee and Usam Island Uranium projects

Skyharbour Resources (SYH) has signed an option agreement with Yellow Rocks Energy Ltd, a private Australian entity.