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Wesdome Gold Mines Announces Annual Mineral Resource and Reserve Updates for Eagle River and Kiena Mine Complexes
TORONTO, March 13, 2023 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces updated Mineral Resource and Mineral
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":" TORONTO, March 13, 2023 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces updated Mineral Resource and Mineral Reserve updates at the Company’s 100% owned Kiena Mine Complex (“Kiena”) in Val d'Or, Quebec and at the Eagle River Mine (“Eagle River”) near Wawa, Ontario. High Grade Mineral Reserve Base – At December 31, 2022, Wesdome’s combined proven and probable mineral reserves totalled 1.0 million ounces (2.4 million tonnes grading 12.9 grams per tonne (\"g/t\") gold); combined measured and indicated mineral resources (exclusive of reserves) were 350 thousand ounces (1.4 million tonnes grading 7.7 g/t gold); and combined inferred mineral resources were 1.1 million ounces (6.4 million tonnes grading 5.2 g/t gold). Reserves and Resource estimates at both sites reflect higher cut-off grades, reduced exploration budget in H2, a higher allocation towards definition and infill drilling (including 25,000 metres in the Falcon Zone at Eagle River), as well as a more stringent and robust approach to reconciliation, 3D modeling and resource classification. Upgrading Near-mine Discoveries A Focus – In 2023, the Company has budgeted 137,000 metres of drilling, with a primary focus on the expansion of mineral reserves and mineral resources and delineating the new discoveries made in 2022. At Kiena, the Company is following up on multiple initial discoveries made last year, including the south limb of the A Zone and several adjacent hanging wall zones which remain outside of mineral reserves. An exploration ramp is specifically budgeted to follow-up and expand on the near-surface Presqu’ile Zone. To the west of Eagle River the Company believes there is potential for the delineation of a parallel Falcon structure and further to the East down dip extension of the high grade 300 Zone that could meaningfully enhance future operational flexibility of the asset. With an existing large resource base, efforts in 2023 will focus on converting a portion of these resources to reserves. Additionally, we have a number of recently discovered zones and exploration targets at both projects. Kiena Ramp Development Tracking Well – Since year-end, ramp development has continued to track slightly ahead of budget, with completion of the ramp to the 129 m-level scheduled by year end. Completion of this ramp segment...