Wesdome Gold Beats 2014 Production Guidance

Wesdome Gold Mines Ltd. (TSX:WDO) announced that in 2014 its gold production came to 52,757 ounces, slightly more than the 52,000 it had predicted. All in all it sold 58,230 ounces for the year, up 6 percent from 2013.

Other highlights include:

• The Eagle River mine’s annual production totalled 123,375 tonnes at a head grade of 12.7 grams per tonne (g/tonne) and a 96% recovery rate to produce 48,190 ounces (12.1 g/tonne recovered grade), a 12.5% increase from 2013 (42,850 ounces). The Mishi mine produced 67,149 tonnes at a head grade of 2.5 g/tonne and a recovery rate of 85% to produce 4,567 ounces (2.1 g/tonne recovered grade), a 93% increase over 2013 (2,360 ounces).

• During the fourth quarter the Eagle River mine produced 27,798 tonnes at a head grade of 13.0 g/tonne and a recovery rate of 96% to produce 11,183 ounces (12.5 g/tonne recovered grade). The Mishi mine produced 31,859 tonnes at a head grade of 2.1 g/tonne and a recovery rate of 85% to produce 1,798 ounces (1.8 g/tonne recovered grade). The Company expects Eagle River to deliver robust grades from 2015 through to at least 2018, having three high grade parallel zones (811, 300 and 7 zones) in development and production during this period. These mineralized zones are located close to existing infrastructure, allowing for rapid mine development without material increases to current sustaining capital rates at the Eagle River mine.

• Production for 2015 is guided to range 55,000 – 57,000 ounces, a 6% – 10% increase over 2014 figures. Next year will focus on the development and initial production of the Eagle River parallel zones, which once complete should demonstrate material production growth in 2016 – 2018.

Click here to read the full Wesdome Gold Mines Ltd. (TSX:WDO) press release.