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Miner Increases Gold Ounces, Grade In New Resource Estimate

By The Gold Report CommoditiesSep 30, 2019 01:22AM ET
www.investing.com/analysis/miner-increases-gold-ounces-grade-in-new-resource-estimate-200469024
Miner Increases Gold Ounces, Grade In New Resource Estimate
By The Gold Report   |  Sep 30, 2019 01:22AM ET
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Wesdome Gold Mines (TSX:WDO) updated the mineral resource estimate for its Kiena mine complex in Val d'Or, Quebec, it announced in a news release.

The updated estimate includes 36,050 meters (36,050m) and 140 holes more of drill data than the previous one from December 2018. Data from 66 of those holes, covering 18,365m, were from Kiena Deep (the A zone).

The newly calculated resource for the Kiena Deep A zone amounts to 405,100 ounces (405.1 Koz) of gold at a grade of 18.55 grams per ton (18.55 g/t) in the Measured and Indicated (M&I) category. That compares to 99.3 Koz of 9.95 g/t M&I gold in the 2018 resource estimate.

Between the new and the 2018 estimates, the Inferred gold resource there grew to 332 Koz from 241.1 Koz, and the grade increased to 15.27 g/t from 11.43 g/t.

"Our work has continued to grow and better define the high-grade Kiena Deep A zone, and we are confident that the mineral resource will increase as a result of the ongoing drilling of this high-grade area that remains open up and downplunge," President and CEO Duncan Middlemiss said in the release.

Along with Kiena Deep, the new report includes resource quantities for other areas of the property: proximal to the Kiena mine development (the A, B, South, VC and S50 zones), outside the Kiena mine area (the Martin, Dubuisson, Northwest, Presqu'ile zones and Wesdome deposit) and all areas combined (global).

That global resource estimate for the entire Kiena complex to date consists of 788.1 Koz of gold grading 8.67 g/t in the M&I category and 798.1 Koz of 8.51 g/t gold in the Inferred.

Wesdome continues to drill Kiena Deep and is constructing an exploration drift to aid further drilling there. Also, the exploration and development company will start the necessary "technical studies supporting a potential restart" and continue working on the preliminary economic assessment, expected in H1/20, the release noted. "This will determine next steps and timing of potentially restarting mine operations," Middlemiss added.

Miner Increases Gold Ounces, Grade In New Resource Estimate
 

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Miner Increases Gold Ounces, Grade In New Resource Estimate

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