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Wesdome Gold Mines Announces Updated Mineral Resource Estimate for Kiena Mine Complex With a Significant Increase in Indicated Mineral Resources in the A Zones
TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) is pleased to announce an updated Mineral Resource Es
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":" TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) is pleased to announce an updated Mineral Resource Estimate (“MRE”) at its 100% owned Kiena Mine Complex, in Val d'Or, Québec. This estimate shall form the basis on which the Kiena Prefeasibility Study (“PFS”) is founded. The company plans to complete the PFS in H1 of 2021, and contingent upon those results, decide on the potential next steps and timing of the Kiena Mine restart. HIGHLIGHTS Definition drilling increased Kiena Deep A Zones Indicated Resources by 77% from 405,100 ounces to 717,400 ounces of gold since 2019, at a similar cut-off grade of 3.0 g/t Au. Inferred Resources in the Kiena Deep A Zones of 120,400 ounces. Kiena Mine Complex Mineral Resources total 796,000 ounces of Indicated and 656,000 ounces of Inferred. Mr. Duncan Middlemiss, President and CEO, commented, “We are pleased with our drilling efforts that have converted a large portion of the existing A Zones inferred resources to indicated resources in spite of the lower than planned drilling metres due to the operational disruptions attributed to the COVID-19 restrictions. Our focus changed to conversion of the A Zones inferred resources into indicated resources, as the timeliness of our restart decision is paramount to the company’s objective of adding another producing asset. We are also pleased with the limited amount of exploration drilling that has extended the A Zones over 880 metres (“m”) down plunge. The A Zones remain open at depth and there exists additional potential to add ounces per vertical meter by exploring the adjacent VC and B Zones at depth as these would be accessible off the down ramp. Currently the deepest portion of the resource resides at the 1686m elevation and will be ramp accessible. In addition to the update of the Kiena Deep and VC zones, all previous polygonal resources were converted to 3D block model during this MRE update in order to be consistent across the Kiena Mine Complex. This resulted in a small reduction of inferred ounces in some zones, but the total resources across the property are now more reflective of how these zones may be mined in the future. We have restarted the Kiena mill to process the A Zone development material and assess the current resource estimate based on grade capping levels. The recent deve...