ONTARIO – Mark the date – Dec. 5, 2015 – as the day Toronto's Wesdome Gold Mines pours its one-millionth oz of gold at its Eagle River mine in Wawa. The first gold was poured on Oct. 17, 1995.
Wesdome bought the Eagle River property in 1994 and spent $15.5 million on development. It has been a reliable, high grade producer with a very skilled workforce ever since. And the mine may be good for another million oz.
The company just released results of drilling at the 300 and 7 zones, recognized as parallel structures. The 300 zone returned 173.90 g/t Au over 2.15 metres, 112.99 g/t over 2.00 metres, 79.13 g/t over 3.50 metres, 65.15 g/t over 4.00 metres, 230.19 g/t over 2.45 metres, and 53.65 g/t over 2.35 metres. Step out holes in the 7 zone returned 20.41 g/t Au over 5.60 metres, 20.06 g/t over 3.70 metres, 29.54 g/t over 3.00 metres and 101.02 g/t over 2.65 metres. Both zones are open towards the west, up plunge and at depth.
The average grade over the life of the Eagle River gold mine has been 9.2 g/t Au. Higher grades have been realized over recent years, said the company, and it expects grades to continue to rise.
Wesdome president Rolly Uloth said in a release, "These parallel zones as well as the deeper 811 zone, (which continues at depth to at least 1,200 metres and remains open) are currently the company's main exploration focus, as there is significant potential to add several new high grade workplaces to 2015 and 2016 production, and beyond. On the 750 metre level, a new development drive is 125 metres away from accessing the high grade 300 zone.
"The company's strategy at Eagle River is to rapidly develop these high grade zones, bring them into the mine plan, and increases reserves. These zones are close to existing infrastructure and provide potential to increase production and lower all-in sustaining costs in the near to medium term," he added.
Readers wanting to know more about Wesdome might enjoy the November 2014 corporate presentation available at Wesdome.com.