Wesdome Gold Mines Ltd. - Drilling expands new Dubuisson discovery
Mon Nov 24, 8:00 AM
ca.news.finance.yahoo.com
VAL-D'OR, QC, Nov. 24 /CNW/ - Widely-spaced, first pass drilling continues to expand the size potential of the new Dubuisson discovery in the Val-d'Or mining camp first announced on October 14, 2008.
George Mannard, VP Exploration, was quoted as saying "It is exciting to find something brand new hiding under the lake in the middle of the Val-d'Or mining camp. Although the discovery is still in its early days, preliminary grades look similar to what we are mining three kilometres to the west at Kiena. The structure remains open and we're all fired up."
Six 100 metre spaced, 2-hole sections were completed from a barge-mounted drill on Lac de Montigny before the ice set in. Highlights include:
- 4.45 gAu/tonne over 5.1 m
- 6.82 gAu/tonne over 7.7 m
- 6.92 gAu/tonne over 8.0 m
- 8.75 gAu/tonne over 5.8 m
- 4.25 gAu/tonne over 17.0 m
- 7.35 gAu/tonne over 2.7 m
The purpose of the drilling was to get a grasp on the size potential of
the mineralized system. It has, to date, been traced for 500 metres in an ESE
direction and remains open. At this point, we do not have a clear
understanding of the geometry, internal continuity or true width of the gold
mineralization.
Multiple zones of gold mineralization are hosted by a complex melange of
diorite, feldspar porphyry and basalt encased in a broad ultramafic
(komatiite) sequence and bound by deformed talc-chlorite schists.
Mineralization consists of quartz-albite-tourmaline-pyrite veinlet stockworks
in strongly albitized diorite and/or feldspar porphyry.
DRILL HOLE LOCATIONS
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Hole No. Easting Northing Azimuth Dip Depth
(UTM) (UTM) (degrees) (degrees) (metres)
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S-510 286114 5333672 210 -54 495
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S-522 286060 5333591 205 -46 399
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S-523 285990 5333658 216 -52 410
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S-524 286153 5333541 203 -50 465
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S-527 286153 5333541 215 -61 485
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S-528 286025 5333713 210 -50 501
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S-529 286233 5333483 210 -50 467
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S-530 286284 5333564 213 -52 558
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S-531 286338 5333530 209 -57 507
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S-532 286316 5333430 206 -51 522
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S-533 286454 5333461 209 -50 525
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S-534 286402 5333374 217 -55 598
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SIGNIFICANT INTERSECTIONS
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Hole From To Core length Assay(xx) Remarks
No. (metres) (metres) (metres) (gAu/tonne)
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S-510* 243.4 244.6 1.2 7.92
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409.9 410.4 0.5 8.42
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419.1 420.9 1.8 5.92
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450.0 455.1 5.1 4.45
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-------------------------------------------------------------------------
S-522 70.9 74.3 3.4 2.04
-------------------------------------------------------------------------
-------------------------------------------------------------------------
S-523* 110.0 111.6 1.6 3.91
-------------------------------------------------------------------------
129.9 132.6 2.7 1.58
-------------------------------------------------------------------------
-------------------------------------------------------------------------
S-524* 357.3 365.0 7.7 6.82
-------------------------------------------------------------------------
inc. 359.1 364.0 4.9 9.32
-------------------------------------------------------------------------
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S-527 239.0 245.0 6.0 1.37
-------------------------------------------------------------------------
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S-528 No significant
assay
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S-529 57.0 65.0 8.0 6.92
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inc. 57.0 61.0 4.0 11.99
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257.2 260.0 2.8 3.04
-------------------------------------------------------------------------
309.0 314.8 5.8 7.33 8.75g/t uncut
-------------------------------------------------------------------------
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S-530 412.0 424.0 12.0 0.82
-------------------------------------------------------------------------
-------------------------------------------------------------------------
S-531 329.0 346.0 17.0 4.25
-------------------------------------------------------------------------
inc. 329.0 334.0 5.0 7.15
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351.0 355.0 4.0 2.32
-------------------------------------------------------------------------
-------------------------------------------------------------------------
S-532 111.0 117.3 6.3 3.61
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inc. 111.0 114.0 3.0 5.63
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124.0 129.0 5.0 2.41
-------------------------------------------------------------------------
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S-533 175.0 177.7 2.7 7.35
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217.8 221.4 3.6 2.17
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S-534 Assays pending
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* Previously released - see press release dated October 14, 2008
(xx) High Assays cut to 34.28 gAu/tonne
The drilling pattern approached the shore of the lake towards the south east. Further, land-based drilling to determine the extent of the mineralized system is being planned. There are very few records of previous exploration having been conducted in this portion of the Val-d'Or mining camp.
Drill core from the new discovery will be on display at Quebec Exploration 2008, Château Frontenac, Suite 124, Quebec City, November 25-27, 2008.
Technical information in this press release was compiled and verified by Paul Arscott, PGeo and Chief Geologist, Kiena mine, and Marc Ducharme, PGeo and Exploration Geologist in their capacity as "Qualified Persons" as per 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 Val-d'Or, Quebec and Wawa, Ontario. It 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 99.7 million shares issued and 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
P.Eng.
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 |
