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Wesdome's Kiena delivers more high grades

Drilling at the A Zone is continuing to deliver high-grade results for Wesdome Mines (TSX: WDO) as it looks at restarting its Kiena complex in Quebec, which it had shuttered in June 2013.
Wesdome's Kiena delivers more high grades Wesdome's Kiena delivers more high grades Wesdome's Kiena delivers more high grades Wesdome's Kiena delivers more high grades Wesdome's Kiena delivers more high grades

Core from Wesdome's Kiena complex in Quebec

Staff reporter

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).