Production from the
2020 Highlights
Mishi gold production of 39,856 tonnes at a head grade of 2.7 grams per tonne and a recovery rate of 77.8%, producing 2,718 ounces of gold, Mishi mining operations finished in Q4. The Mishi stockpile now contains over 40,000 tonnes of ore and is planned to be milled in 2021.
Operations have successfully maintained Covid-19 free status with extensive screening and protocols since the outset of the pandemic
Revenue from gold sales of
Drilling extended the
The high grade 300
Sold 1,500 ounces to date from the bulk sample at the
Published Kiena Preliminary Economic Assessment ('PEA') and advanced Pre-Feasibility Study ('PFS') to be published in Q2 2021 based on an updated resource estimate completed in
Included in TMX 30 recognition program for the second consecutive year. This flagship program showcases the TSX's 30 top-performing stocks based on dividend adjusted share price appreciation
Despite the stoppage of some exploration work during the year due to the pandemic, 2020 was a successful year for exploration. Significant drilling was completed on the newly discovered Falcon Zones and will meaningfully contribute to the upcoming resources and reserves update. This zone has now been interpreted to join the 7 Zone within the mine diorite 1,000 m down plunge from the initial near surface discovery. Kiena exploration was also very successful, and despite a significant reduction in the 2020 drilling program, we were able to increase the A Zones indicated resources by 77% in preparation for the ongoing PFS. The PEA completed in June demonstrated robust economics, low pre-production capital, and a short timeframe to commercial production.
Looking ahead to 2021, guidance is set at 92,000 - 105,000 ounces at
ABOUT WESDOME
Wesdome has had over 30 years of continuous gold mining operations in
Contact:
Tel: 416-360-3743
Email: duncan.middlemiss@wesdome.com
This news release contains 'forward-looking information' which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company has included in this news release certain non-IFRS performance measures, including, but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the fiscal period divided by the number of ounces produced. These measures are not defined under IFRS and therefore should not be considered in isolation or as an alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow
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