Wesdome Announces Filing of Technical Report for the Eagle River Complex
22 Avril 2022 - 11:45PM
Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”)
announces that the Company has filed a technical report prepared in
accordance with National Instrument 43-101 - Standards of
Disclosure for Mineral Projects titled “Technical Report for the
Eagle River Gold Mining Complex, Ontario, Canada” prepared by SRK
Consulting (Canada) Inc. as first reported in the Company’s news
release dated March 10, 2022.
The full technical report can be found on the
Company’s website at www.wesdome.com and on SEDAR at
www.sedar.com.
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 office. These
protocols are still in place at all sites despite the loosening of
some provincial public health guidelines. 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 the Company’s best
efforts, with the emergence of new, highly contagious variants such
as Omicron. To date, the Company has been impacted by this most
recent variant outbreak, with employees at both operations and
corporate office becoming infected, which may 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. The
Company is continuing to monitor the situation closely and will
provide updates as they become available.
ABOUT WESDOMEWesdome is
Canadian focused with two producing underground gold mines.
The Company’s goal is to build Canada’s next intermediate gold
producer, producing over 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 95,000 – 105,000 ounces
per year. The Company is currently milling the final stockpile of
ore from the Mishi Pit with 1,000 – 2,000 ounces expected. The
recently re-started Kiena Complex in Val d’or, Quebec is a fully
permitted underground mine and milling operation and the Kiena Mine
is expected to produce 64,000 – 73,000 ounces in 2022. On a
combined basis, 2022 guidance is 160,000 ounces – 180,000 ounces.
Wesdome is actively exploring underground and on surface within the
mine areas and more regionally at the Eagle River and Kiena
Complex. 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 142.5 million shares issued and
outstanding and trades on the Toronto Stock Exchange under the
symbol “WDO,” with a secondary listing on the OTCQX under the
symbol “WDOFF.
Cautionary Note Concerning Estimates of Mineral
Reserves and Mineral Resources
The technical report titled “Technical Report
for the Eagle River Gold Mining Complex, Ontario, Canada” (the
“Technical Report”) referred to herein was prepared by Wesdome in
accordance with National Instrument 43-101 - Standards of
Disclosure for Mineral Projects (“NI 43-101”), which differs from
the requirements of the United States Securities and Exchange
Commission. In particular, Canadian standards, including the terms
defined in the Canadian Institute of Mining, Metallurgy and
Petroleum Standards (CIM Definition Standards), which definitions
have been adopted by NI 43-101, differ from the standards contained
in subpart 1300 of Regulation S-K of the United States Securities
Act of 1933, as amended. Accordingly, the scientific and technical
information contained in the Technical Report providing
descriptions of our mineral reserves and mineral resources prepared
in accordance with NI 43-101 may not be comparable to similar
information made public by other U.S. companies subject to the
United States federal securities laws and the rules and regulations
thereunder.
For
further information, please contact: |
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Duncan Middlemiss |
or |
Lindsay Carpenter Dunlop |
President and CEO |
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VP Investor Relations |
416-360-3743 ext. 2019 |
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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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PDF
available: http://ml.globenewswire.com/Resource/Download/fea5dfb7-f56f-4ac7-b8a0-76e06a9f855d
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