VAL D'OR, QC, July 27 /CNW/ - Drilling to follow-up a deep hole drilled in 2007 has provided some encouraging results. Hole U-4317 initially returned an intersection of 3.92 gAu/tonne over an estimated true width of 6.6 metres. Recent drilling has cut intervals of 4.17 gAu/tonne over an estimated true width of 11.6 metres in hole U-4566 and 3.41 gAu/tonne over an estimated true width of 5.2 metres in hole U-4568.
The drilling results come from approximately 300 metres below the mine's deepest level and demonstrate potential exists for a southeast plunging corridor of mineralization with a strikelength of about 200 metres to extend to depths of at least 1300 metres. A diamond drill is scheduled to return to this target later in the summer.
S-50 Zone Intersections
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Cut Grade
Estimated Grade (cut to
Hole From To Core length True (gAu/ 34.28gAu/
No. (m) (m) (m) Width (m) tonne) tonne)
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U-4566 400.0 414.7 14.7 11.6 4.17 3.75
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includes 408.0 414.7 6.7 5.3 6.64 5.71
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U-4567 350.7 373.0 22.3 17.7 0.82 0.82
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includes 350.7 362.5 11.8 9.3 1.23 1.23
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U-4568 440.7 473.3 32.6 24.4 1.68 1.68
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includes 463.0 470.0 7.0 5.2 3.41 3.41
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U-4724 426.9 435.0 8.1 5.8 1.58 1.58
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456.0 460.55 4.55 3.3 4.64 4.64
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includes 458.1 459.0 0.9 0.7 22.61 22.61
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Mineralization is typical of the S-50 zone consisting of an albitized stockwork vein-breccia-dyke complex emplaced near the contact of tholeiitic basalt and komatiite flows. The S-50 zone has provided about 93% of the 1.66 million ounces of gold produced to date from the Kiena mine.
Technical information in this press release has been compiled, reviewed and verified by G. Mannard, P.Geo., Vice President - Exploration, Wesdome Gold Mines Ltd. and "Qualified Person" as defined by National Instrument 43-101. Assaying was done by fire assay methods at the Kiena mine assay office. In addition to internal duplicate, standards and blanks, the geology department inserts blind standards and blanks into the sample stream at a frequency of one in twenty to monitor quality control.
Wesdome is an established Canadian gold producer with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Quebec. Wesdome has been producing gold continually for 20 years on an unhedged basis and to date has produced in excess of 1.0 million ounces. The Company has 99.8 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.