Wesdome Gold Mines Ltd - New Gold Prospect Identified Along The Cadillac Break
TORONTO, Sept. 1, 2011 /CNW/ --
TORONTO, Sept. 1, 2011 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is
pleased to announce new gold occurrences identified during the 2011
winter drill program along the prolific 'Cadillac Break' located
approximately 3.5 kilometres south west of Wesdome's Kiena Mine in
Val-d'Or, Quebec.
The purpose of this 'first pass' surface drill program was to evaluate
the previously underexplored 4.5 kilometre long stretch of the
'Cadillac Break' area for potential gold mineralization in the
southwest portion of the claims. This target area lies immediately
along strike with the new Canadian Malartic Project of Osisko currently
in production and situated midway between the neighbouring Malartic
Gold Fields Mine (2.0 million ounces former production) and the Quebec
Explorers gold deposit (see map at www.wesdome.com).
A drill program consisting of thirteen (13) holes was initiated during
early November, 2010 and resumed from March to May, 2011 with a total
of 3930 metres drilled. Encouraging results from drill hole S613
prompted a follow-up exploration towards the south east sector
accessible only during the winter months. The winter drill program was
completed with three (3) drill holes located approximately one
kilometre towards the northwest just prior to the retreat for the
spring thaw.
HIGHLIGHTS INCLUDE
-- 101.03 gAu/tonne over 1.0 m
-- 29.38 gAu/tonne over 0.9 m
-- 10.93 gAu/tonne over 1.5 m
Follow-up drilling will be required to determine the continuity and size
potential of these new occurrences.
G. Mannard, VP Exploration, states 'These results demonstrate some high
grade, narrow intervals and some broader anomalous sections. These
serve to confirm the potential of this underexplored structure on our
property. We will continue to evaluate targets along the break,
including the down-dip and along strike projections of the Quebec
Explorers deposit'.
The drill hole locations and assay results are appended in the
accompanying tables. Drawings include a regional geological map and the
'Cadillac Break' area illustrating the drill hole locations and assay
highlights (see figures at www.wesdome.com).
Table 1: Drill Hole Locations
________________________________________________________
|Hole No. |Easting|Northing| Azimuth | Dip | Length |
| | (UTM) | (UTM) |(degrees)|(degrees)|(metres)|
|__________|_______|________|_________|_________|________|
| S613 |280259 |5331602 | 179 | -49 | 333 |
|__________|_______|________|_________|_________|________|
| S671 |280750 |5331332 | 178 | -50 | 264 |
|__________|_______|________|_________|_________|________|
| S672 |280752 |5331436 | 180 | -50 | 309 |
|__________|_______|________|_________|_________|________|
| S673 |280660 |5331498 | 180 | -50 | 267 |
|__________|_______|________|_________|_________|________|
| S674 |280661 |5331501 | 360 | -50 | 267 |
|__________|_______|________|_________|_________|________|
| S675 |280838 |5331398 | 180 | -50 | 270 |
|__________|_______|________|_________|_________|________|
| S676 |280839 |5331406 | 360 | -54 | 252 |
|__________|_______|________|_________|_________|________|
| S677 |280827 |5331281 | 180 | -50 | 294 |
|__________|_______|________|_________|_________|________|
| S678 |280661 |5331389 | 180 | -50 | 268 |
|__________|_______|________|_________|_________|________|
| S679 |280265 |5331713 | 180 | -50 | 473 |
|__________|_______|________|_________|_________|________|
| S680 |279372 |5332108 | 180 | -50 | 255 |
|__________|_______|________|_________|_________|________|
| S681 |279377 |5332218 | 180 | -50 | 261 |
|__________|_______|________|_________|_________|________|
| S682 |279385 |5332315 | 180 | -50 | 417 |
|__________|_______|________|_________|_________|________|
Table 2: Drill Hole Results
_____________________________________________________________________
|Hole No.| From | To | Core | Grade | Cut Grade |Remarks |
| |(metres)|(metres)| length |(gAu/tonne)| ** | |
| | | |(metres)| |(gAu/tonne)| |
|________|________|________|________|___________|___________|_________|
| S613 | 160.5 | 162.0 | 1.5 | 10.93 | 10.93 | |
|________|________|________|________|___________|___________|_________|
| | 307.8 | 309.0 | 1.2 | 0.41 | 0.41 | |
|________|________|________|________|___________|___________|_________|
| S671 | 26.0 | 36.0 | 10.0 | 0.25 | 0.25 | |
|________|________|________|________|___________|___________|_________|
| S672 | 148.9 | 151.0 | 2.1 | 0.64 | 0.64 | |
|________|________|________|________|___________|___________|_________|
| S673 | 255.0 | 256.0 | 1.0 | 0.45 | 0.45 | |
|________|________|________|________|___________|___________|_________|
| S674 | | | | | NSA | |
|________|________|________|________|___________|___________|_________|
| S675 | 137.3 | 142.4 | 5.1 | 0.10 | 0.10 | |
|________|________|________|________|___________|___________|_________|
| S676 | | | | | NSA | |
|________|________|________|________|___________|___________|_________|
| S677 | 143.3 | 145.2 | 1.9 | 0.67 | 0.67 | |
|________|________|________|________|___________|___________|_________|
| S678 | 91.5 | 99.0 | 7.5 | 0.16 | 0.16 | |
|________|________|________|________|___________|___________|_________|
| | 110.0 | 112.5 | 2.5 | 0.23 | 0.23 | |
|________|________|________|________|___________|___________|_________|
| | 205.0 | 207.8 | 2.8 | 0.25 | 0.25 | |
|________|________|________|________|___________|___________|_________|
| S679 | 202.3 | 204.1 | 1.8 | 0.16 | 0.16 | |
|________|________|________|________|___________|___________|_________|
| | 263.1 | 264.1 | 1.0 | 0.22 | 0.22 | |
|________|________|________|________|___________|___________|_________|
| S680 | 242.8 | 244.8 | 2.0 | 0.60 | 0.60 | |
|________|________|________|________|___________|___________|_________|
| S681 | 214.4 | 215.3 | 0.9 | 29.38 | 29.38 | Visible |
| | | | | | | gold |
|________|________|________|________|___________|___________|_________|
| S682 | 78.9 | 79.9 | 1.0 | 101.03 | 34.28 | |
|________|________|________|________|___________|___________|_________|
| | 122.0 | 128.7 | 6.7 | 1.25 | 1.25 | |
|________|________|________|________|___________|___________|_________|
| Incl. | 125.2 | 128.7 | 2.5 | 2.16 | 2.16 | |
|________|________|________|________|___________|___________|_________|
** An upper grade cutting limit of 34.28 gAu/tonne was applied. NSA= No
Significant Assay
GEOLOGICAL CONTEXT
The area is characterized by the northwest - southeast trending Piché
group volcanics dominantly composed of ultramafic rocks with some mafic
volcanics, and minor gabbroic and/or diorite dikes. The Piché group is
bounded to the north by the Timiskaming group sediments composed mainly
of volcanic sediments and/or turbidites and to the south by the Pontiac
group sediments composed mainly of meta-greywackes with some
interbedded volcanic rocks. Gold mineralization is associated with
quartz-carbonate-chlorite veinlets or stockworks in proximity to
sheared greywacke, basalts and gabbroic dikes.
TECHNICAL DISCLOSURE
The technical content of this press release has been verified by Marc
Ducharme, P.Geo. OGQ, Chief Exploration Geologist, Kiena mine in his
capacity as a 'Qualified Person' as per requirements of 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.
ABOUT WESDOME
Wesdome is an established Canadian gold producer with wholly-owned
mining and milling complexes located in Wawa, Ontario and Val d'Or,
Québec. Wesdome has been producing gold continually for more than 20
years on an unhedged basis and to date has produced in excess of 1.2
million ounces. The Company has 101.9 million shares issued and
outstanding and trades on the Toronto Stock 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',
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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.
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Donovan Pollitt, P.Eng., CFA | or | George Mannard, P.Geo. | ||||||
President & CEO | Vice President, Exploration | |||||||
416-360-3743 ext 25 | 416-360-3743 ext 22 |
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