PRESS RELEASE MARTIN ZONE DRILLING EXPANDS POTENTIAL · 2018. 12. 13. · during the period 1936...

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PRESS RELEASE MARTIN ZONE DRILLING EXPANDS POTENTIAL Val d’Or, Quebec – July 19, 2011 – Wesdome Gold Mines Ltd (WDO: TSX) (“Wesdome” or the “Company”) is pleased to announce encouraging definition drilling results from the Martin Zone at the producing Kiena Mine Complex, in Val d’Or, Quebec. From the end of February through mid-May of 2011, 27 underground drill holes were completed above the 330 metre level. The drilling covers an area 100 metres high by 180 metres long. The Martin Zone is situated 1.2 kilometres east of the Kiena Shaft (Figure 1). Drifting on the zone, at 330 metres depth, in 2007 demonstrated good continuity, including a section averaging 4.11 gAu/tonne for a length of 91.3 metres across an average drift width of 2.6 metres as determined by composite muck sampling (see Press Release dated May 25, 2007 available at www.wesdome.com). This drilling provides the basis for mine planning work. The zone remains open and is currently being tested above with a surface drill which commenced mid-June. Donovan Pollitt, President, comments “This drilling gives us confidence the Martin Zone has reasonable continuity and room to grow. We look forward to ongoing surface drilling which steps out laterally and above. It doesn’t take much to add significant incremental production to existing mining operations”. Results are tabulated below. Accompanying drawings include a location plan and longitudinal sections showing drill coverage, results to date and planned drilling. Martin Zone Definition Intersections (Note: Hole number U-5460 was drilled elsewhere in the mine) Hole No. From (m) To (m) Section Core length (m) Estimated True Width (m) Grade (gAu/tonne) Cut Grade (cut to 26.00gAu/tonne) U-5458 174.50 177.30 10050N 2.80 2.03 2.03 2.03 U-5459 172.05 174.40 10050N 2.35 1.74 6.64 6.64 U-5461 169.25 170.95 10035N 1.70 1.39 2.47 2.47 U-5462 166.60 169.00 10035N 2.40 1.85 3.91 3.91 U-5463 173.85 174.80 10035N 0.95 0.71 13.26 12.71 U-5464 174.85 176.95 10020N 2.10 1.74 13.65 13.65 U-5465 182.35 184.40 10020N 2.05 1.65 3.10 3.10 U-5466 183.00 185.00 10020N 2.00 1.60 7.16 7.16 U-5467 176.00 178.00 10020N 2.00 1.59 2.92 2.92 U-5468 183.60 185.70 10020N 2.10 1.64 4.53 4.53 U-5469 181.50 182.60 10005N 1.10 0.89 3.66 3.66 U-5470 159.55 162.10 9990N 2.55 2.14 2.60 2.60 U-5471 187.25 190.25 9990N 3.00 2.35 5.19 5.19 U-5472 150.00 154.00 9975N 4.00 3.64 2.10 2.10

Transcript of PRESS RELEASE MARTIN ZONE DRILLING EXPANDS POTENTIAL · 2018. 12. 13. · during the period 1936...

Page 1: PRESS RELEASE MARTIN ZONE DRILLING EXPANDS POTENTIAL · 2018. 12. 13. · during the period 1936 – 1938 from the former Martin Mine, located 1.0 kilometres to the southeast of current

PRESS RELEASE

MARTIN ZONE DRILLING EXPANDS POTENTIAL Val d’Or, Quebec – July 19, 2011 – Wesdome Gold Mines Ltd (WDO: TSX) (“Wesdome” or the “Company”) is pleased to announce encouraging definition drilling results from the Martin Zone at the producing Kiena Mine Complex, in Val d’Or, Quebec. From the end of February through mid-May of 2011, 27 underground drill holes were completed above the 330 metre level. The drilling covers an area 100 metres high by 180 metres long. The Martin Zone is situated 1.2 kilometres east of the Kiena Shaft (Figure 1). Drifting on the zone, at 330 metres depth, in 2007 demonstrated good continuity, including a section averaging 4.11 gAu/tonne for a length of 91.3 metres across an average drift width of 2.6 metres as determined by composite muck sampling (see Press Release dated May 25, 2007 available at www.wesdome.com). This drilling provides the basis for mine planning work. The zone remains open and is currently being tested above with a surface drill which commenced mid-June. Donovan Pollitt, President, comments “This drilling gives us confidence the Martin Zone has reasonable continuity and room to grow. We look forward to ongoing surface drilling which steps out laterally and above. It doesn’t take much to add significant incremental production to existing mining operations”. Results are tabulated below. Accompanying drawings include a location plan and longitudinal sections showing drill coverage, results to date and planned drilling. Martin Zone Definition Intersections (Note: Hole number U-5460 was drilled elsewhere in the mine)

Hole No.

From (m)

To (m)

Section

Core length

(m)

Estimated True Width

(m)

Grade

(gAu/tonne)

Cut Grade (cut to

26.00gAu/tonne) U-5458 174.50 177.30 10050N 2.80 2.03 2.03 2.03 U-5459 172.05 174.40 10050N 2.35 1.74 6.64 6.64 U-5461 169.25 170.95 10035N 1.70 1.39 2.47 2.47 U-5462 166.60 169.00 10035N 2.40 1.85 3.91 3.91 U-5463 173.85 174.80 10035N 0.95 0.71 13.26 12.71 U-5464 174.85 176.95 10020N 2.10 1.74 13.65 13.65 U-5465 182.35 184.40 10020N 2.05 1.65 3.10 3.10 U-5466 183.00 185.00 10020N 2.00 1.60 7.16 7.16 U-5467 176.00 178.00 10020N 2.00 1.59 2.92 2.92 U-5468 183.60 185.70 10020N 2.10 1.64 4.53 4.53 U-5469 181.50 182.60 10005N 1.10 0.89 3.66 3.66 U-5470 159.55 162.10 9990N 2.55 2.14 2.60 2.60 U-5471 187.25 190.25 9990N 3.00 2.35 5.19 5.19 U-5472 150.00 154.00 9975N 4.00 3.64 2.10 2.10

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U-5473 159.50 160.50 9975N 1.00 0.88 3.30 3.30 U-5474 185.00 188.80 9975N 3.80 3.12 1.73 1.73 U-5475 155.00 157.00 9960N 2.00 1.82 6.68 6.68 U-5476 186.55 187.10 9960N 0.55 0.46 5.75 5.75 U-5477 147.85 150.85 9945N 3.00 2.88 0.67 0.67 U-5478 169.00 169.50 9945N 0.50 0.44 5.50 5.50 U-5479 164.40 166.40 9930N 2.00 1.83 7.30 7.30 U-5480 145.95 147.15 9915N 1.20 1.19 8.74 8.74 U-5481 149.30 151.35 9915N 2.05 2.02 7.59 7.59 U-5482 141.00 143.80 9900N 2.80 2.74 3.96 3.96 U-5483 149.80 151.80 9900N 2.00 1.95 1.23 1.23 U-5484 164.45 166.05 9900N 1.60 1.46 2.95 2.95 U-5485 182.85 184.15 9885N 1.30 1.12 7.11 7.11 The Martin Zone strikes northwest and is subvertically dipping. It is a tabular zone consisting of albitized quartz stockwork veining and quartz-albite-pyrite veining in brecciated tholeitic basalts. The Martin Zone structure supported historic production of 139,000 tonnes grading 6.2 gAu/tonne above 230 metres depth during the period 1936 – 1938 from the former Martin Mine, located 1.0 kilometres to the southeast of current work. Technical information in this press release has been compiled, reviewed and verified by Ronald G. Leber, P.Geo., Chief Production Geologist and Marc Ducharme, P.Geo., Chief Exploration Geologist – Kiena Mine and “Qualified Persons” as defined by National Instrument 43-101. Assaying was done by fire assay methods at the Kiena mine assay office. In addition to internal duplicates, 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 22 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”. For further information, please contact: 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: [email protected], Website: www.wesdome.com

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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”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, 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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