Wesdome Drilling Returns High Grades in Volcanic Rocks Along Western Extension of Mineralization at the Eagle River Mine

TORONTO, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”) today announces results from the ongoing surface and underground exploration drilling program at the Company’s wholly-owned Eagle River Mine (“Eagle River”) in Wawa, Ontario. Initial surface drilling to the west of the mine diorite has returned high grades within 200 metres from surface, while the first underground hole 750 metres down plunge has also intersected similar mineralization (Figures 1, 2 and 3). Highlights of recent results are outlined below:

Initial surface drilling to the west of current mine infrastructure in the volcanic rocks:

• Hole ERS-2023-001: 64.4 g/t Au over 0.4 m core length (64.4 g/t Au capped, 0.4 m true width)
• Hole ERS-2023-005: 7.0 g/t Au over 2.6 m core length (7.0 g/t Au capped, 2.2 m true width)

Underground drilling indicating continuity directly down plunge within the volcanic rocks:

• Hole 857-E02: 33.4 g/t Au over 0.4 m core length (within 6.4 g/t Au capped over 1.5 m true width)

All assays capped at 125 g/t Au. True widths are estimated based on 3D model construction.

Ms. Anthea Bath, President and CEO commented: “The results of the initial surface and underground drilling suggests the potential of a parallel structure in the volcanic rocks west of the mine diorite, with results consistent with those seen in early drilling at the Falcon 7 Zone in 2019. Not only are these results near existing mine infrastructure, but they demonstrate potential for high grade mineralization in a rock type that has seen limited drilling to date.

This drilling is part of a renewed strategy focused on the upper areas of the mine and will include the assessment of previously mined areas. By developing and optimizing the strategic mine plan from these additional resources, this could add incremental tonnes for processing at our underutilized mill.

Additionally at Eagle River, drilling continues to confirm the geometry, spatial continuity and high grades of the 300 East Zone at depth. This suggests that many other similar parallel zones, namely the 8 and 7 Zones, have the same potential to continue at depth.”

Further Technical Details

During the first part of this year, an updated 3D geologic model was created west of the mine diorite to guide exploration. It is interpreted that the gold mineralization occurs within an intermediate volcaniclastic, known to be more brittle and a better host for the gold mineralization than the relatively ductile encompassing mafic volcanic flow units.