Wesdome Reports Multiple New High-Grade Lenses at Kiena, Demonstrating Resource Expansion Potential
High-Grade Intercepts at Kiena Deep Validate Resource Expansion as Eagle River Hits Record Production
The most recent news (March 26, 2026) reports exceptional drilling results from the Kiena mine in Val-d'Or, Quebec. Key highlights include high-grade intercepts in the A Zone (161.3 g/t Au over 5.2m) and the discovery of six new lenses. This follows the March 11 report of record 2025 financial results, where the company achieved $914 million in annual revenue and $232 million in net income. Additionally, the company has appointed Tyler Mitchelson as permanent COO and initiated an Automatic Share Purchase Plan (ASPP) to facilitate its 2% share buyback program.
The news is Routine - Positive. While the drill results are high-grade (161.3 g/t Au), they are incremental to the known high-grade nature of the Kiena Deep system and align with the company's stated "fill-the-mill" strategy. - Operational Stability: The appointment of a permanent COO (Tyler Mitchelson) provides leadership stability after the interim period following Guy Belleau's departure. - Financial Strength: The record 2025 results confirm that Wesdome is generating significant free cash flow ($79M in Q3 2025 alone), allowing it to self-fund exploration and return capital via the NCIB. - Kiena Turnaround: The discovery of new lenses in the B Zone and Footwall Zone is critical because Kiena has historically struggled with "single-source" risk from the Kiena Deep A Zone. Multiple mining horizons (now 3 active) reduce operational risk.
Wesdome is a Canadian gold producer with two high-grade underground assets: - Eagle River (Ontario): The "cash cow," producing ~100k oz/year for 30 years. Recent exploration has extended the 6 Central Zone by 300m. - Kiena (Quebec): The growth engine. A high-grade mine (10+ g/t) that recently restarted. It features a 930m shaft and a 2,040 tpd mill.