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Wesdome Gold Mines Ltd.
Summary
| Project: | Eagle River Complex | |
|---|---|---|
| Deposit: | Eagle River Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/26/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-2-2018: Wesdome Gold Mines Ltd. announces a Resource Estimation report for its Eagle River Mine deposit at the Eagle River Complex project. End of year 2017 Mineral Resource and Reserve statement. TORONTO, Feb. 26, 2018 -- Wesdome Gold Mines Ltd. (TSX | |
| Resources: | (Reserve, P+P): 1.059Mt @ 12.2g/t Au for 416koz contained at Eagle River Mine | |
| CP/QP: | [Resources]: Michael Michaud (Internal) | |
| ABSTRACT: | TORONTO, Feb. 26, 2018 -- Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or “the Company”) is pleased to announce increased Mineral Reserves to 416,000 ounces of gold, net of depletion, (53,428 ounces) at its operating Eagle River Underground Mine located west of Wawa, Ontario. Mineral Reserves and Resources are updated as at December 31, 2017. Mr. Duncan Middlemiss, President and CEO commented, “In 2017, we successfully increased reserves net of depletion, and significantly improved the grade and reliability of our reserves through more tightly spaced definition drilling (35,000 metres). In January of last year, we made a very exciting new discovery within the 300 Parallel Zone - the 303 Lens, which so far consists of an average width of 8.2 metres grading 29.67 g/ tonne uncut. In May, we completed an exploration drift on the 844 metre Level, which enabled us to drill the structure up-plunge and is now traced from 750 metres depth to 1,000 metres depth and remains open above and below. As a result of this new discovery, the grade in the 300 Zone reserve increased by 49% over 2016. Production from this area began in late 2017. We also focused exploration efforts on the 7 Zone, increasing the grade by 44% and setting up production for 2018 to be in an area of longer strike lengths and greater widths than previously mined. Overall, the incorporation of these more recently discovered, higher grade zones into the current reserves has resulted in more ounces of gold in fewer tonnes thus improving the overall economics of the mine.” “At Mishi, we are compiling data from approximately 30,000 metres of drilling conducted last year to the west of the Mishi open pit and expect to update reserves and resources for both this recent area of drilling and the immediate open pit area later in the year.” | |
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