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Wesdome Gold Mines Announces 2020 Fourth Quarter and Full Year Production Results; Provides 2021 Guidance
TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces fourth quarter (“Q4”) and full year 2
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":" TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces fourth quarter (“Q4”) and full year 2020 production results and 2021 guidance. All figures are in Canadian dollars unless otherwise stated. Production from the Eagle River Complex in Q4 2020 totaled 20,006 ounces of gold, putting full year 2020 production at 90,278 ounces, meeting the low end of our unadjusted 2020 production guidance. 2020 Highlights: Eagle River gold production of 196,441 tonnes at a head grade of 14.2 grams per tonne and a recovery rate of 97.7% producing 87,560 ounces, 1% lower than 2019 Mishi gold production of 39,856 tonnes at a head grade of 2.7 grams per tonne and a recovery rate of 77.8%, producing 2,718 ounces of gold, Mishi mining operations finished in Q4. The Mishi stockpile now contains over 40,000 tonnes of ore and is planned to be milled in 2021. Operations have successfully maintained Covid-19 free status with extensive screening and protocols since the outset of the pandemic Revenue from gold sales of $215.3 million, a 31% increase over 2019 at an average realized sale price of $2,360 per ounce (2019: $1,853) Drilling extended the Falcon Zone over 1 km down plunge and is interpreted to connect with Zone 7, currently being mined underground. The recent drilling will be included in the annual resource and reserve update in March 2021 The high grade 300 East Zone has now been extended from the 750 metre level to the 1400 metre level Sold 1,500 ounces to date from the bulk sample at the Kiena Deep A Zone Kiena Mine in Val d’Or, Quebec for revenue of $3.6 million with additional processing remaining and full reconciliation ongoing Published Kiena Preliminary Economic Assessment (“PEA”) and advanced Pre-Feasibility Study (“PFS”) to be published in Q2 2021 based on an updated resource estimate completed in December 2020 (Indicated resources increased by 77% to 717,400 ounces) Included in TMX 30 recognition program for the second consecutive year. This flagship program showcases the TSX's 30 top-performing stocks based on dividend adjusted share price appreciation Duncan Middlemiss, President and CEO commented, “First and foremost I would like to extend our thanks and appreciation to all our employees and stakeholders for working safely in the challenging circumstances of the ongo...