EXPLORATION & DEVELOPMENT

High-grade intercept at Wesdome's Kiena attracts attention

Miner looking to assess restarting shuttered mine complex

Staff reporter

This article is 5 years old. Images might not display.

The fully-permitted Kiena was shuttered in 2013 and is across the border from Wesdome's high-grade Eagle River complex in Ontario.

Other highlights from the Deep A Zone included 4.3m at 126.3g/t gold and 9m at 44.5g/t.

Five rigs are at work as Wesdome aims to update Kiena's resource in the second half of this year.

The Kiena Deep A Zone has an indicated 310,300 tonnes at 9.95g/t gold for 99,300 ounces and an inferred 656,100t at 11.43g/t for 241,100oz.

The total Kiena complex has a measured and indicated 3.1Mt at 5.81g/t for 582,600oz and an inferred 4.1Mt at 7.57g/t for 1Moz.

President and CEO Duncan Middlemiss said the resource update would lead into a preliminary economic assessment expected in early 2020 "and next steps will be determined at that juncture".

The company celebrated 30 years on the Toronto Stock Exchange last month and reported stronger-than-expected June quarter production results. 

Wesdome shares have been on an upward trajectory over the past 18 months, from about C$2 at the start of 2018 to touch $7.02 intraday yesterday, the highest point since March 2003, according to Bloomberg.

They closed down 2.47% to $6.72, on a day Toronto's gold equities collectively closed down 4%, capitalising Wesdome at $917 million (US$694 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.