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Wesdome Gold Mines Ltd.
Summary
| Project: | Eagle River Complex | |
|---|---|---|
| Deposit: | Eagle River Mine, Mishi | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/21/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-2-2019: Wesdome Gold Mines Ltd. announces a Resource Estimation report for its Eagle River Mine, Mishi deposit at the Eagle River Complex project. Updated mineral resource and ore reserve estimate at the project. Duncan Middlemiss, President and CEO, a | |
| Resources: | ||
| CP/QP: | [Resources]: Micheal Michaud, Marc-Andre Pelletier (Internal) | |
| ABSTRACT: | Duncan Middlemiss, President and CEO, added, “At the Eagle River Underground Mine, we were able to maintain the Mineral Reserves at 404,000 ounces of gold from 1.0 million tonnes at an overall grade of 12.0 gpt Au; as compared to the Mineral Reserves as of December 31, 2017 of 1.1 million tonnes at a grade of 12.2 gpt Au containing 416,000 ounces of gold. There was a slight depletion in reserves this year due to our in mine exploration program, targeting the parallel zones, only accessing beneficial drill platforms later in the year. We view the current parallel zones exploration program, targeting both up and down plunge and to the east, as a three year project with encouraging results to date. The theory that the parallel zones may continue across the mine diorite, similar to the 8 Zone, is entirely valid at this point. As such, the 7 Zone reserves increased 30% from 97,000 ounces in 2017 to 126,000 ounces in 2018, while maintaining a grade of 13 gpt. A review of the mineral resources and reserves during 2018 has resulted in a significant decrease in mineral reserves at the Mishi Pit. Poor ore reconciliation on the lower benches, which in turn has increased the stripping ratio of waste to ore, has negatively affected the current pit economics. Our strategy is to become Canada’s next mid-tier producer and therefore have 100% production from the Wawa operations to be entirely from the high grade Eagle River Underground mine, thereby generating additional ounces at higher margins. | |
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