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Wesdome Gold Mines Announces 2021 First Quarter Production of 22,564 Ounces of Gold Produced
TORONTO, April 15, 2021 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or the “Company”) today announces its gold production results for the f
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":" TORONTO, April 15, 2021 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or the “Company”) today announces its gold production results for the first quarter of 2021 (“Q1”). Mr. Duncan Middlemiss, President and CEO commented, “First quarter production of 22,564 ounces was within our expectations. Eagle River grades were slightly below the low end of our guidance, however increased through the quarter, reaching 15.3 g/t in the month of March and we expect to be within guidance for the year. Underground operations showed steady improvement in efficiencies throughout the quarter and this trend is expected to continue. Mill throughput increased by 6% over Q1 2020 due to higher mill availability. Quarterly gold production is expected to increase for the remainder of the year. We remain on track to achieve our guidance of 92,000 – 105,000 ounces at the Eagle River Mine this year. “At Kiena we completed the reconciliation of the Kiena Deep A Zone bulk sample, resulting in a positive reconciliation of 6% more gold compared to that of the mineral resource block model and subsequently sold 1,793 ounces in Q1 2021 (3,293 ounces to date). We are in the final stages of completing the pre-feasibility study and intend to publish the results this quarter.” Amounts are denominated in Canadian dollars First Quarter 2021 2020 Variance % +/(-) Ore milled (tonnes) Eagle River 53,540 55,874 -2,334 (4%) Mishi 17,219 11,047 6,172 56% 70,759 66,922 3,837 6% Head grade (grams per tonne, “g/t”) Eagle River 12.8 14.0 (1.2) (9%) Mishi 2.5 2.5 0.0 0% Gold production (ounces) Eagle River 21,396 24,457 -3,061 (13%) Mishi 1,169 665 504 76% Total Gold Production 22,564 25,122 -2,558 (10%) Production sold (ounces) 2 22,457 26,500 -4,043 (15%) Average realized price per ounce 3 $2,219 $2,162 57 3% Revenue from gold sales ($ millions) 4 $49.8 $57.3 ($7.5) (13%) Notes: Operating numbers may not add due to rounding. Includes 1,793 ounces from the Kiena Bulk Sample Average realized...