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Wesdome drills more high grades at Falcon 311 zone at Eagle River gold mine in Ontario

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Wesdome Strikes Gold at Falcon 311 Zone in Ontario’s Eagle River Mine

Exploration Success in Falcon 311 Zone

Wesdome Gold Mines has hit the mother lode at its Falcon 311 zone in the Eagle River mine in Ontario, with hole 857-E-16A yielding 53.0 g/t gold over 2.9 meters. Meanwhile, hole 857-E-04 returned 24.7 g/t gold over 2 meters. This phenomenal discovery has sent waves of excitement through the mining industry, causing a stir among investors.

Open-Ended Potential and Production Growth

The Falcon 311 zone, an extension of the Falcon 7 zone discovered in 2019, is proving to be a treasure trove, remaining open in all directions, including up-plunge towards the surface. β€œBy leveraging our experience and understanding of the Falcon 7 zone, the team was able to quickly identify and define this new discovery at a higher hit rate per hole,” Wesdome CEO Anthea Bath stated. The results are particularly impressive as they point to a potential expansion of the gold production at the mine, which produced 87,799 oz. of gold in 2023, up from 82,002 oz. in 2022.

Strategic Significance and Future Prospects

Falcon 311 is the second zone identified in the volcanic rocks west of the mine diorite, affirming the prospectivity in an area that has historically seen limited drilling activity. The exploration along this horizon, along with the definition and expansion of this new discovery, will remain a priority for drilling in the coming months. Based on drilling to date, the Falcon 311 zone has been traced at least 200 meters along plunge and nearly 100 meters along strike. There is further potential to expand to surface almost 900 meters along plunge, similar to the Falcon 7 zone.

Market Implications and Investor Interest

This exciting revelation signifies a robust future for Wesdome Gold Mines, with the potential for increased gold output and a positive impact on the company’s stock performance. This successful exploration serves as a testament to Wesdome’s commitment to unlocking the untapped potential of Ontario’s Eagle River mine, thus attracting not only seasoned investors but also burgeoning interest from new market entrants.

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