Wesdome Announces Filing of NI 43-101 Technical Report at the Kiena Mine in Val d’Or, Quebec
June 09 2021 - 3:30PM
Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or the “Company”)
announces filing of a National Instrument 43-101 Technical Report
of the pre-feasibility study “PFS”) and mineral reserve estimate
for the Kiena Mine. Initial results were released on May 26, 2021.
The full technical report is available on SEDAR at www.sedar.com
and on the Company website, www.wesdome.com
ABOUT WESDOMEWesdome has had
over 30 years of continuous gold mining operations in Canada.
The Company is 100% Canadian focused with a pipeline of projects in
various stages of development. The Company’s strategy is to
build Canada’s next intermediate gold producer, producing 200,000+
ounces from two mines in Ontario and Québec. The Eagle River
Underground Mine in Wawa, Ontario is currently producing gold at a
rate of 92,000 – 105,000 ounces per year. Wesdome is actively
exploring its brownfields asset, the Kiena Complex in Val d’Or,
Québec. The Kiena Complex is a fully permitted former mine
with a 930-metre shaft and 2,000 tonne-per-day mill, and a restart
of operations was announced on May 26, 2021. The Company has
completed a PFS in support of the production restart decision. The
Company also retains meaningful exposure to the Moss Lake gold
deposit, located 100 kilometres west of Thunder Bay, Ontario
through its equity position in Goldshore Resources Inc. The Company
has approximately 139.7 million shares issued and outstanding and
trades on the Toronto Stock Exchange under the symbol “WDO”.
COVID-19 The health and safety
of our employees, contractors, vendors, and consultants is the
Company’s top priority. In response to the COVID-19 outbreak,
Wesdome has adopted all public health guidelines regarding safety
measures and protocols at all of its mine operations and corporate
offices. In addition, our internal COVID-19 Taskforce continues to
monitor developments and implement policies and programs intended
to protect those who are engaged in business with the Company.
Through care and planning, to date the Company
has successfully maintained operations, however there can be no
assurance that this will continue despite our best efforts. Future
conditions may warrant reduced or suspended production and / or
project activities which could negatively impact our ability to
maintain projected timelines and objectives. Consequently, the
Company’s actual future production and production guidance is
subject to higher levels of risk than usual. We are continuing to
closely monitor the situation and will provide updates as they
become available.
The potential impact of COVID-19 or other risks
have not been included in the financials of the project. A summary
of risks will be included in the technical reports to be posted on
SEDAR.
For
further information, please contact: |
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Duncan Middlemiss |
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Lindsay Carpenter Dunlop |
President and CEO |
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VP Investor Relations |
416-360-3743 ext. 2029 |
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416-360-3743 ext. 2025 |
duncan.middlemiss@wesdome.com |
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lindsay.dunlop@wesdome.com |
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220 Bay St. Suite 1200 |
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Toronto, ON, M5J 2W4 |
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Toll Free: 1-866-4-WDO-TSX |
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Phone: 416-360-3743, Fax: 416-360-7620 |
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Website: www.wesdome.com |
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This news release contains “forward-looking information” which
may include, but is not limited to, statements with respect to the
future financial or operating performance of the Company and its
projects. Often, but not always, forward-looking statements can be
identified by the use of words such as “plans”, “expects”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates”, or “believes” or variations (including
negative variations) of such words and 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 Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Forward-looking statements
contained herein are made as of the date of this press release and
the Company disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or results or otherwise. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update forward-looking statements if circumstances,
management’s estimates or opinions should change, except as
required by securities legislation. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements. The Company has included in this news release certain
non-IFRS performance measures, including, but not limited to, mine
operating profit, mining and processing costs and cash costs. Cash
costs per ounce reflect actual mine operating costs incurred during
the fiscal period divided by the number of ounces produced. These
measures are not defined under IFRS and therefore should not be
considered in isolation or as an alternative to or more meaningful
than, net income (loss) or cash flow from operating activities as
determined in accordance with IFRS as an indicator of our financial
performance or liquidity. The Company believes that, in addition to
conventional measures prepared in accordance with IFRS, certain
investors use this information to evaluate the Company's
performance and ability to generate cash flow
PDF
available: http://ml.globenewswire.com/Resource/Download/2a7acc4e-3ba5-46e6-b0b8-4375c8f32e04
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