Toronto, Ontario – October 12, 2016
Wesdome Gold Mines Ltd. (TSX: WDO) today announces gold production results for the third quarter of 2016 (Q3).
Q3 combined production at the Eagle River Complex was 15,667 ounces, a 29% increase over 12,147 ounces in the second quarter.
Eagle River Underground Mine ore milled during Q3 was 42,617 tonnes at a head grade of 10.07 grams per tonne (“gpt”) to produce 13,193 ounces of gold.
At the Mishi Open Pit Mine, ore milled was 37,660 tonnes at a head grade of 2.33 gpt to produce 2,474 ounces of gold.
The Eagle River mill averaged 873 tonnes per day for Q3 with mill recoveries at 95.6% for Eagle and 87.7% for Mishi, a 2% improvement in recoveries over Q2.
Gold sales were 15,825 ounces at an average sales price of CAD$1,740 (USD$1,338) per ounce for revenue of CAD$27.5 M.
Mr. Duncan Middlemiss, President and CEO commented, “The strategy to re-sequence underground development to ensure a better production grade profile going forward at the Eagle River Mine is yielding positive results, demonstrated by improved grades and ounces produced during this quarter.
The 811, 7, and 300 Zones were all in the development and production cycle, and this is expected to continue into the fourth quarter.
Significant improvements were achieved at the Mishi Open Pit, with head grades improving to 3.93 g/t in September, from 1.37 g/t in July and August.
We will continue to focus on meeting our underground development objectives at the Eagle River Mine, concurrent with targeted exploration close to existing infrastructure. I am also very pleased to congratulate the team on our safety record of three years with no lost time incidents.”