Wesdome Gold Mines Ltd. (TSX: WDO) has released drill results from its underground mining operation in Quebec and has extended the Kiena Deep A zone more than 125 metres down plunge since November last year.
The company also announced Tuesday it has expanded the recently discovered Footwall and Hanging zones. Wesdome highlighted the following drill results:
- Hole N112-6861: 75.6 g/t Au over 10.0 m core length (35.8 g/t Au capped, 6.4 m true width) – A zone
- Hole N103-6840W5: 23.7 g/t Au over 5.0 m core length (23.7 g/t Au capped, unknown true width) – North Limb zone
- Hole N103-6840W6: 26.8 g/t Au over 4.0 m core length (24.8 g/t Au capped, unknown true width) – North Limb zone
Wesdome declared commercial production at the Kiena Mine on December 1, 2022.
“We are pleased with the recent drill results that are continuing to better define and expand the recent discoveries adjacent to the Kiena Deep A Zone, namely the Footwall, South Limb and Hanging Wall Basalt zones,” said Warwick Morley-Jepson, Interim President and CEO of Wesdome.
“These zones have the potential to increase the number of ounces per vertical metre and to provide additional working faces during mining using the same underground infrastructure utilized to access the A zone.”
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Morley-Jepson added that utilizing the same A zone access at Kiena will enable the company to mine these recently discovered additional zones at a lower price.
He also says the discovery of the new zones adjacent to the A zone indicates strong potential for pulling gold ounces from within the basalt where the rock quality is substantially superior to the footwall of the mine’s A zone, enabling an increased rate of development.
The Footwall zones were discovered in 2021 and the South Limb zone was discovered last year. After finding the South Limb zone Wesdome intersected 2,850 g/t Au over 1.5 metres in one of two Hanging Wall Basalt zones in late 2022.
Wesdome says it is now focused on ramp development at the Kiena Mine this year, which is currently ahead of schedule. The objective of this will be to to provide access to a wider portion of the A zone by early 2024.
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Calibre Mining (TSX: CXB) (OTCQX: CXBMF) is another Canadian gold producer with a strong pipeline of development and exploration opportunities.
Calibre has a cash position worth more than twice that of Wesdome at $66.5 million and is expected to generate twice as many ounces of gold this year.
The company announced today that it had increased its Nicaraguan mineral reserve grade by 16 per cent and that its Nevada mineral reserves had also grown by 23 per cent.
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