ONTARIO – Wesdome Mines of Toronto has significantly increased both the gold reserves and resources at its Eagle River and Mishi mines west of Wawa.
Reserves at both mines – a total of 431,000 contained ounces – have doubled over the past three years despite the production of 149,000 oz of gold. At Dec. 31, 2015, proven and probable reserves at Eagle River were 1.01 million tonnes grading 9.2 g/t Au and containing 300,000 oz of gold. At Mishi, reserves totaled 1.89 million tonnes at 2.2 g/t Au or 131,000 contained oz.
The future is looking especially bright at Eagle River where inferred resources have grown 112% to contain 170,000 oz of gold in 555,000 tonnes that average 9.5 g/t Au. Wesdome said the increase is attributable to drilling success in new parallel zones. A major drill program is planned this year with seven rigs to expand the resources down to 600 metres and to the north of the mine.
Visit Wesdome.com for further details. Of particular interest is the January 2016 corporate presentation.