Hence the jump!!They are looking at increasing their reserves.
Wesdome Gold Mines Ltd. - Pukaskwa drilling to commence
8:00 AM ET, November 5, 2009
WAWA,ON, Nov. 5, 2009 (Canada NewsWire via COMTEX) --Wesdome Gold Mines Ltd. ("Wesdome") is pleased to announce a drillingprogram will soon commence on the Pukaskwa property located 15kilometres west of the Eagle River Mill. Wesdome has an option to earna 60% interest in the Pukaskwa property from Windarra Minerals Ltd.("Windarra") by incurring mineral exploration expenditures of $3.0million prior to June 30, 2014.
The program scope involves 3,000 metres of drilling in about 25drill holes. Drilling will focus on the Middle Finger Lake zone (MFLZ)and provide preliminary drill testing of the Bonanza zone. Drillingshould be completed prior to Christmas.
The purpose of the drilling is to establish the size potential andcontinuity of the MFLZ and provide initial drill testing of the Bonanzazone.
Highlights of limited previous shallow drilling on the MFLZ includethe following intersections. Complete results, surface plans and drillsections are documented in a Press Release dated October 26, 2007 andavailable at www.windarra.com.
Middle Finger Lake Zone Highlights
- 4.16 gAu/tonne over 6.55 metres
inc. 8.78 gAu/tonne over 2.80 metres,
- 3.41 gAu/tonne over 9.04 metres
inc. 9.37 gAu/tonne over 3.24 metres,
- 1.07 gAu/tonne over 20.50 metres
inc. 4.48 gAu/tonne over 2.70 metres,
- 3.14 gAu/tonne over 13.15 metres
inc. 7.25 gAu/tonne over 3.90 metres, and
- 1.49 gAu/tonne over 16.10 metres
inc. 7.40 gAu/tonne over 2.96 metres
The MFLZ mineralization is cored by quartz-tourmaline flooding witha broad semi-massive to disseminated sulphide halo composed ofarsenopyrite, pyrrhotite, pyrite, chalcopyrite, sphalerite and galena.It is shallowly-dipping and hosted by metasedimentary rocks of theMishibishu greenstone belt. Its broad widths, extensive, correlatedinduced polarization response and soil geochemical signature suggest toWesdome this may be a very large mineralized system. The MFLZ wasdiscovered by trenching soil geochemistry anomalies in an overburden,covered area in 2006.
The Bonanza zone was also discovered by trenching soil geochemistryanomalies in 2006. It is located about 500 metres southwest of theMFLZ. It is a narrow, sugary, quartz vein containing abundant visiblegold. It can be traced for 30 metres along strike before disappearingunder overburden. It is up to 1 foot wide on surface and has returnedvery high grades in channel sampling (see Press Release dated July 25,2006 and available at www.windarra.com).It has never been drilled and Wesdome is hopeful it may widen at depthas was the case with the No. 2 zone at its nearby Eagle River mine.
This Press Release was prepared by George Mannard, PGeo. and VicePresident, Exploration, Wesdome Gold Mines Ltd. and "Qualified Person"as per NI43-101. Field work is supervised by Daniel Lapointe, PGeo.,Exploration Geologist and "Qualified Person" as per NI43-101.
Wesdome is an established Canadian gold producer with wholly-ownedmining and milling complexes located in Wawa, Ontario and Val d'Or,Québec. Wesdome has been producing gold continually for 20 years on anunhedged basis and to date has produced in excess of 1.0 millionounces. The Company has 100.2 million shares issued and outstanding andtrades on the Toronto Stock Exchange under the symbol "WDO".
Windarra Minerals Ltd. is an established Canadian explorationcompany. It has actively been involved in exploration and developmentprojects in the Mishibishu Greenstone belt for 20 years, and holds afurther 100% interest in the two Mishi mining leases consisting ofapproximately 705 hectares in the Mishibishu Lake township and a 25%interest in the Magnacon East property. It has 30.7 million sharesoutstanding and trades on the TSX Venture Exchange under the symbol"WRA".
This news release contains "forward-looking information" which mayinclude, but is not limited to, statements with respect to the futurefinancial or operating performance of the companies and their projects.Often, but not always, forward-looking statements can be identified bythe use of words such as "plans", "expects", "is expected", "budget","scheduled", "estimates", "forecasts", "intends", "anticipates", or"believes" or variations (including negative variations) of such wordsand phrases, or state that certain actions, events or results "may","could", "would", "might" or "will" be taken, occur or be achieved.Forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the companies to be materially differentfrom any future results, performance or achievements expressed orimplied by the forward-looking statements. Forward-looking statementscontained herein are made as of the date of this press release and thecompanies disclaim any obligation to update any forward-lookingstatements, whether as a result of new information, future events orresults or otherwise. There can be no assurance that forward-lookingstatements will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in suchstatements. The companies undertake no obligation to updateforward-looking statements if circumstances, management's estimates oropinions should change, except as required by securities legislation.Accordingly, the reader is cautioned not to place undue reliance onforward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Wesdome Gold Mines Ltd.
respecting Wesdome, please contact: Rowland Uloth, President; Donovan Pollitt,
P.Eng., VP Corporate Development, Wesdome Gold Mines Ltd., 8 King St. East, Suite
1305, Toronto, ON, M5C-1B5, Toll Free: 1-866-4-WDO-TSX, Phone: (416) 360-3743, Fax:
(416) 360-7620, Email: invest@wesdome.com, Website: www.wesdome.com; For further
information respecting Windarra, please contact: John Pallot, President, Windarra
Minerals Ltd., 2300 - 1066 West Hastings Street, Vancouver, BC, V6E 3X2, Tel: (604)
688-1508 Fax:, (604) 601-8253, Email: info@windarra.com, Website: www.windarra.com
Copyright (C) 2009 CNW Group. All rights reserved.