Wesdome, African Queen and SLAM release gold results from Quebec, Kenya and New Brunswick
by Greg Klein
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Wesdome Gold Mines TSX:WDO began the New Year by releasing gold assays from its Kiena Mine in Val-d’Or, Quebec. The company stated that underground exploration drilling demonstrates continuity of the mine’s S-50 (South Zone) mineralized system southeast and at depth.
Intercepts were provided as estimated true widths. Grades were cut to 34.28 grams per tonne. Highlights include:
- 8.6 grams per tonne gold over 7.3 metres
- 3.38 g/t over 10.7 metres
- (including 6.61 g/t over 2.2 metres)
- 3.82 g/t over 8.78 metres
- 34.28 g/t over 0.85 metres
- 3.72 g/t over 6.75 metres
- 2.83 g/t over 5.42 metres
- 11.4 g/t over 1.07 metres
- 8.86 g/t over 1.53 metres.
One of Wesdome’s three operating gold mines, Kiena’s 2012 production is estimated at 20,000 ounces. The company expects another 20,000 ounces from its Eagle River operation and 10,000 ounces from the Mishi open pit, both near Wawa in central Ontario. As of December, Wesdome’s year-to-date cash flow was $10.5 million.
Wesdome opened January 2 at $0.87, two cents above the previous close. The stock nudged a day’s high of $0.90 before returning to an 87-cent close.
More January 2 gold results came from African Queen Mines’ TSXV:AQ Odundu Property, part of its Rongo Gold Fields Project in Kenya. The company stated that initial drill and trenching results indicate extensive, low-grade near-surface mineralization.
True widths weren’t provided for the drill results. One intercept began at a down-hole depth of 27 metres, while the furthest stopped at 171 metres. Drill assays include:
- 1.03 grams per tonne gold over 26.35 metres
- (including 5.27 g/t over 0.6 metres)
- (including 2.87 g/t over 2.87 metres)
- 1.17 g/t over 12 metres
- (including 2.97 g/t over 2 metres)
- 1.08 g/t over 11 metres
- (including 5.96 g/t over 0.6 metres)
- 0.89 g/t over 10 metres
- 1.45 g/t over 5.16 metres
- (including 3.21 g/t over 0.8 metres)
- (including 2.31 g/t over 0.93 metres).
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