Wesdome property map

Wesdome property map (Image: Wesdome)

A look at a couple of mining news releases out this morning with some additional comments.

Wesdome Gold Mines - (WDO:TSX) - Wesdome is out with  drill results from the winter drilling program at its Kiena property in Val d'Or, Quebec. 30 holes were drilled to explore S50 East and the Presqu'ile zones.

The drill program was successful hitting high grade intercepts at both targets.

S50 East Highlights

  • 5.83 g Au/tonne over 12.6 metres in hole S771 -40.55 g Au/tonne over 3.0 metres in hole S775
  • 40.55 g Au/tonne over   3.0 metres in hole S775

Presqu'ile Highlights

  • 26.85 g Au/tonne over 5.9 metres in hole S780 -89.72 g Au/tonne over 3.1 metres in hole S783
  • 89.72 g Au/tonne over   3.1 metres in hole S783

Mr. Rolly Uloth, President and CEO, commented, "The 2015 winter drilling program confirmed continuity of the S50 East zone at shallow depth and confirmed the high grade multi-vein potential of the Presqu'ile area. Wesdome has commissioned an independent 43-101 technical study on its extensive and contiguous Val d'Or land position. We believe this study will comprehensively inventory our significant resource base, mining and processing infrastructure and outstanding brownfields exploration and development potential.

2015 Wesdome stock chart

Wesdome continues to be under the radar of most gold investors despite being a gold producer for 25 years.  With 111.09 M shares out the market cap this morning is ~$121 million.

2015 is a development year at Wesdome with free cash flow being used to invest in exploration and development for the future.

CEO, Rolly Uloth has been active in the open market recently buying shares which you can see here.

Read: Wesdome Confirms Continuity of the S50 East and Presqu’ile Zones at Val d’Or Properties

Premier Gold (PG:TSX) and Centerra Gold (CG:TSX) -  Premier and Centerra are out with drill results from the Hardrock project in Ontario. The drilling program consisted of 62 holes (17,428 m).

The Trans-Canada project is a 50/50 joint venture between the two partners after Centerra gave Premier $85 million in March. Centerra is also sole funding the first $185 million in project expenditures.

Feasibility studies and permitting for development at Trans-Canada are under way.

Hardrock is the flagship project at the Trans-Canada project. Hardrock currently hosts 4.87  million ounces of gold within an indicated resource (89.04 million tonnes at 1.70 grams per tonne gold) and 2.74 million ounces of gold in an inferred resource (23.15 million tonnes at 3.69 grams per tonne gold).

The drill campaign was designed to test specific portions of Premier’s July 2014 resource block model for the Hardrock Deposit and to gain a better understanding of the distribution and grade of the gold mineralization in the deposit. Overall, the drill campaign was successful in continuing to identify gold mineralization within the current optimized pit boundary

Premier Gold Mines 2015 chart

Premier stock has had a strong move in 2015 with the catalyst being the Centerra partnership. The stock has levelled off in the past few months.

Premier has a strong balance sheet with $90 M in cash and investments and plenty of news flow is expected from work being done on projects in the next several months.

Brent Cook of Exploration Insights likes Premier and own shares. Check out his excellent article What was it like Dad?

Read: Premier Gold And Centerra Gold Announce Drill Results

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This is not investment advice. All facts are to be checked and verified by reader. As always please do your own due diligence.