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Holes from Past-Producing Mine Hit 'Greater Than 1 Ounce/Ton Au'

Source: Streetwise Reports

 

May 30, 2018 (Investorideas.com Newswire) Eight Capital reviewed the new assay results from this miner's Val d'Or project.


A May 17 research report indicated the Deep A zone at Wesdome Gold Mines Ltd. (WDO:TSX) Kiena complex "continues to impress," based on just released assays from five drill holes there, wrote analyst Craig Stanley with Eight Capital. "All intersected gold mineralization greater than 1 ounce per ton (1 oz/ton)."

One of these five holes, hole 6299, turned out to be the second best at Kiena in terms of grade and width in the Deep zone, which is located 200–300m below existing mine infrastructure and formerly known as the Lower Stockwork.

Hole 6299 hit 10.8 meters (10.8m) width of 77.37 grams per ton gold (77.37 g/ton Au) and, Stanley reported, "extended the known mineralization at least 50m downplunge to the east in an area that was previously thought to be truncated at the mafic-ultramafic contact." The hole "intersected alteration, veining and gold mineralization over a downhole length of over 100m within three main mineralized zones." Management plans additional drill holes to further test this area.

Other assay highlights wereassociated with hole 6290 that hit a 20m width of 25.95 g/ton Au and hole 6296 that hit a 5.5m width of 43.32 g/ton Au.

Wesdome reported assays cut to 1 oz/ton, which are historic for the Kiena mine. Yet, the top cut likely will wind up being greater because its Deep zone contains different mineralization and consists of higher grades than what was mined in the past, Stanley pointed out. The historical average mined grade was 4.5 g/ton Au.

So far, 20 holes have been drilled in the Deep A zone this year. Assays have been reported on 12 of them. "To date, the system has been drill traced 600m along the favorable geological contact between 1,000 and 1,400m below surface and remains open up and downplunge and along strike to the northwest," reiterated Stanley.

Three rigs are currently drilling in this area while a fourth is at work near existing mine infrastructure and development. Those areas include the S-50 zone, the primary historic area of production, and the VC zone, which is 600 meters north of the S-50.

Eight Capital has a Buy recommendation and a CA$3 per share price target on Wesdome, whose stock is currently trading at around CA$2.25 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Disclosures from Eight Capital, Wesdome Gold Mines, First Impressions, May 17, 2018

Conflicts of Interest: Eight Capital has written procedures designed to identify and manage potential conflicts of interest that arise in connection with its research and other businesses. The compensation of each Research Analyst/Associate involved in the preparation of this research report is based competitively upon several criteria, including performance assessment criteria, the quality of research and the value of the services they provide to clients of Eight Capital. The Research Analyst compensation pool GFG Resources Inc. includes revenues from several sources, including sales, trading and investment banking. Research analysts and associates do not receive compensation based upon revenues from specific investment banking transactions.

Eight Capital generally restricts any research analyst/associate and any member of his or her household from executing trades in the securities of a company that such research analyst covers, with limited exception.

Research Analyst Certification

Each Research Analyst and/or Associate who is involved in the preparation of this research report hereby certifies that:

The Research Analyst involved in the preparation of this research report does not have any authority whatsoever (actual, implied or apparent) to act on behalf of any issuer mentioned in this research report.

Disclosures are available here.


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