EXPLORATION & DEVELOPMENT

'Exciting' 7 Zone results boost Wesdome

Miner adds fourth drill to underground mine exploration

Staff reporter
Miner adds fourth drill to underground exploration

Miner adds fourth drill to underground exploration

Wesdome said ongoing development on the 1038m level had confirmed that mineralisation east of the western core of the 7 Zone had merged to form one continuous zone, "now defined over 146m in strike length and grading 30.5 g/t gold uncut over an average true thickness of 2.61m".

Equally as exciting, recent drilling confirmed the 7 Zone continued a further 100m downdip to the 1,250m level at similar grades and strike lengths and remained open at depth and to the east, president and CEO Duncan Middlemiss said.

"The 7 Zone will be an important aspect of the Eagle River production over the coming years," he said.

A fourth drill has been added underground to better define and extend the known zones.

The Eagle River Complex produced 19,795 ounces of gold in the September quarter, 28% more than a year earlier, at an all-in sustaining cost of US$888/oz.

The bulk came from Eagle River underground at a grade of 13.3g/t and 358oz was produced from the Mishi openpit at a grade of 3.4g/t.

The company ended the quarter with C$30.7 million (US$23 million) in cash.

Its shares were trading below C$2 12 months ago and are back up towards October's 52-week peak of $4.18.

They closed up 9.6% on Friday or 35c to $3.99, capitalising it close to $538 million.

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