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Wesdome Gold Mines ups reserves 21%, ups grade 32% at Eagle River

Wesdome Gold Mines Ltd. said Feb. 26 that an updated estimate increased reserves at its Eagle River mine in Ontario by 21% in terms of contained gold and by 32% in terms of grade, as compared to the previous estimate.

Eagle River hosts proven and probable reserves containing 416,000 ounces of gold within 1.1 million tonnes grading 12.2 g/t of gold.

The mine also hosts indicated resources containing 12,000 ounces of gold within 50,700 tonnes grading 7.3 g/t of gold and inferred resources containing 85,000 ounces of gold within 334,000 tonnes grading 8.0 g/t of gold. Resources were reported exclusive of reserves.

The updated estimate incorporates 53,428 ounces of mining depletion and 35,000 meters of definition drilling completed in 2017 and is effective Dec. 31, 2017.

Wesdome also reported that 380 meters of development is underway to provide drill platforms for 25,000 meters each of exploration and definition drilling at Eagle River, aiming to better define and expand mineralization, while 5,000 meters of surface drilling is planned to explore for new zones.

In addition, the company is compiling data from approximately 30,000 meters of drilling completed at its Mishi gold mine in 2017, with an updated reserves and resources estimate anticipated later in 2018.