EXPLORATION & DEVELOPMENT

Wesdome's Kiena delivers more high grades

Reports 13.2m at 141.4g/t gold

Staff reporter

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The latest highlights included 141.4g/t gold over 13.2m (23g/t cut, 13.2m estimated true width) and 3.1m at 185.8g/t (29.3g/t cut, 2.4m est. true width).

"We are extremely pleased with the recent drilling results that continue to illustrate the high grade nature and continuity of the A Zone, especially as we assess the potential restart of the operation with the ongoing PEA study that is expected to be completed in H1 2020," president and CEO Duncan Middlemiss said.

The company had a "stellar" quarter across the border in Ontario at its Eagle River complex and increased 2019 production guidance in October to 88,000-93,000 ounces.

Wesdome ended the third quarter with C$38.6 million in cash. 
  
The company's share price, which was around $3.30 a year ago, hit a 52-week high of $9.56 yesterday.

It closed at $9.29 to capitalise Wesdome at $1.3 billion (US$0.96 billion).

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