Wesdome Gold Mines Ltd. - Drilling extends high grade 811 Zone to depth
Thu Jan 3, 3:39 PM
ca.news.finance.yahoo.com
WAWA, ON, Jan. 3 /CNW/ - Recent drilling has significantly extended the high grade 811 Zone to depth at Wesdome's Eagle River mine near Wawa, Ontario. Drilling on section 9325E has traced the zone to a depth of 600 metres beyond which it remains open. Please refer to Figure 1 for a schematic cross section, available at our website.
The wholly-owned Eagle River mine has been in production since 1995 and to date has produced 710,000 ounces of gold. Reserves and resources have previously been tabulated to a maximum depth of 415 metres in the 811 Zone. Recent drifting on the 415 metre level revealed an average grade (cut to 60 gAu/tonne) of 13.19 gAu/tonne over an average width of 3.05 metres along a strikelength of 103.3 metres.
Drilling Results - Section 9325E
True Assay Cut Assay
Hole From To Corelength Width (gAu/ (60gAu/ Depth
No. (m) (m) (m) (m) tonne) tonne) (m)
EU-43 235.90 238.50 2.60 1.49 16.90 16.90 590
EU-44 186.00 190.30 4.30 1.47 14.89 13.59 530
EU-45 138.86 144.28 5.42 4.33 33.15 22.47 480
EU-46 113.78 120.36 6.58 5.04 26.62 18.27 440
EU-47 86.22 88.20 1.98 1.79 116.16 36.43 380
Mineralization at Eagle River is hosted by subvertically dipping, east-west striking, laminated quartz veins hosted in a sheared quartz diorite stock. To date mining has occurred over a strikelength of 2.4 kilometres and to a maximum depth of 640 metres.
Recent development activity has concentrated in the western portion of the mine where the above-average grade 811 and 808 Zones are being readied for production. These new results, coupled with the year's positive development results, put us in position to again replace reserves and resources at the Eagle River mine. For previous drilling and development results refer to Press Releases dated October 5, 2006, November 1, 2006 and October 9, 2007
All assays employ the fire assay method on 25 gram sample aliquots at the Eagle River mine assay office. Duplicates, replicates and blanks are performed for each assay batch to monitor quality control. George Mannard, P.Geo. and Vice-President, Exploration is the Qualified Person responsible for the technical results in this press release as per National Instrument 43-101.
Wesdome Gold Mines Ltd. is an established Canadian gold producer with mining operations in Wawa, Ontario and Val d'Or, Quebec. The Company has 99.7 million shares outstanding and trades on the TSX 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.
Contacts
Rowland Uloth
President
Donovan Pollitt
VP Corporate Development
8 King St. East
Suite 1305
Toronto
ON
M5C-1B5
Toll Free: 1-866-4-WDO-TSX
Phone: (416) 360-3743
Fax: (416) 360-7620
Email: invest@wesdome.com
Website: www.wesdome.com |
