For thousands of other reports visit RSC's Mineral Intellingence Map
Wesdome Gold Mines Ltd.
Summary
| Project: | Eagle River Complex | |
|---|---|---|
| Deposit: | Eagle River Complex | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/22/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-2-2017: Wesdome Gold Mines Ltd. announces a Resource Estimation report for its Eagle River Complex deposit at the Eagle River Complex project. Updated mineral resources and ore reserves. Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or “The Company”) t | |
| Resources: | (Reserve, P+P): 446000oz contained at project | |
| CP/QP: | [Resources]: George Mannard, Philip Ng (Internal) | |
| ABSTRACT: | Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or “The Company”) today announces fourth quarter (Q4) and full year financial results and reserve and resource updates for the year ended December 31, 2016. AMr. Duncan Middlemiss, President and CEO, commented on the 2016 year-end results, “This was a transitional year for Wesdome with many achievements and positive changes. Despite a slow start to production, operating results improved throughout the year. The team brought higher grade stopes into the mine plan ahead of schedule and controlled production costs, even as additional investments were made to expand mineral reserves, re-new our capital equipment, and extend our operating infrastructures. Work continues to increase gold production from the Eagle River Underground Mine where our margins are highest. This, along with higher gold prices resulted in higher operating cash flow and net income over 2015, despite lower production. Free cash flow was lower than 2015 primarily due to increased exploration spending and reserve development. This exploration work is necessary to determine the appropriate production profile scenario at the Eagle River Complex.” “Wesdome had an exceptional year for exploration. Eagle River reserves increased 15% net of depletion, 300 E Zone was drilled further and delineated, where the widths are significantly greater than previously encountered at Eagle River. The 7 Zone was traced 200 metres up plunge towards surface. These results set the path for diversified working places underground with the goal of raising and stabilizing quarter to quarter production. We are very excited by the Kiena Deep discovery in Val d’Or, Quebec. Since announcing the discovery in August 2016, we have increased the number of drills from 2 to 4 and results continue to deliver grades substantially higher than the historic production grade profile at Kiena of 4.5 g/t. Step out holes confirmed mineralization now tested along 550 metres of strike length, indicating a potential large new gold system. We expect to make a decision on underground ramp development in the short term.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report