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Wesdome increases gold output 21% in second quarter

Wednesday July 14, 2021

Wesdome Gold Mines (TSX:WDO) announced Wednesday that its total gold production in Q2 2021 amounted to 30,375 ounces, up 21% over Q2 2020 (25,142 ounces).The company said that Q2 production at the Eagle River underground mine of 29,836 ounces was 24% higher than a year ago (24,117 ounces) driven by an 18% increase in both recovered gold grades and in Eagle River tonnes milled. Higher production rates from the 311 Zone stope allowed production throughput to reach over 693 tonnes per day during the quarter.Wesdome noted that total H1 2021 production at the Eagle River Complex is 52,939 ounces, which leaves the company very well positioned to deliver on its guidance of 92,000 – 105,000 ounces.At Kiena, development is proceeding on track to produce the company’s first commercial ounces of gold from this asset in Q3 2021, where guidance is 15,000 – 25,000 for H2 2021.“This is a transformational time for Wesdome as we begin to realize our vision of becoming Canada’s next mid-tier gold producer,” said president and CEO Duncan Middlemiss.Wesdome has had over 30 years of continuous gold mining operations in Canada.  The company is 100% Canadian focused with a pipeline of projects in various stages of development.  The company’s strategy is to build Canada’s next intermediate gold producer, producing 200,000+ ounces from two mines in Ontario and Québec.