Wesdome extends VC zone (February 17, 2005)

Ongoing underground drilling by Wesdome Gold Mines‘ (WDG-V) has extended the VC zone at the Kiena mine complex, 10 km west of Val d’Or, Que., by 15 metres to the west.

The widest intercept came in hole no. 3755, which cut the VC2 zone over a true width of 25 metres (beginning 57.2 metres below surface) and carries a cut grade of 5.1 grams gold per tonne. That interval included a 9-metre section running 12.2 grams gold.

Other highlights from the latest round of drilling include:

• Hole 3746 15 metres (from 22 metres) averaging 8.7 grams gold in the VC3 zone, and 5.8 metres (from 51.2 m) of 9.5 grams in the VC2 zone;
• Hole 3754 22 metres (from 72.8 m) containing 4.3 grams gold per tonne in the VC2 zone;
• Hole 3756 15.8 metres (from 15.8 m) of 7.7 grams gold in the VC3 zone;
• Hole 3757 16.5 metres (from 17 m) of 7.65 grams in the VC3 zone;
• Hole 3758 21.5 metres (from 17.9 m) of 4.75 grams form the VC3 zone, and 3 metres (from 85.6 m) of 3.6 grams in the VC2 zone;
• Hole 3759A 5.3 metes (from 53.5 m) averaging 12.5 grams in the VC3 zone;
• Hole 3762 9.1 metres of (from 19 m) of 7.7 grams in the VC3 zone, and 9.8 metres of 7 grams in the VC2 zone.

The VC zone comprises at least three mineralized lenses that form a pipe-like structure. Mineralization is hosted by silicified, albitized breccia within mafic volcanic rock, cut by intermediate to felsic intrusive rock. The has now been outlined over 60 metres, and remains open to the east and west, and a depth. Delineation and definition drilling on 15-metre centres continues.

In 2002, the Kiena mine was estimated to contain a measured and indicated resource of 3 million tonnes grading 4.25 grams gold per tonne. The mine produced 11 million tonnes grading 4.75 grams gold per tonne, between 1982 and 2002.

Underground exploration and development continues on the VC, North and 388 zones with the aim of low-cost bulk mining. A production decision is expected in June, with startup to follow sometime before year-end.

Shares in Wesdome ended a dime, or more than 7%, higher at $1.50 in Toronto following the news on Feb. 17.