Wesdome Intersects 3.1 g/t Gold over 106.5 Metres at Shawkey 10, Significantly Expanding the Mineralized System
Wesdome’s high-grade Shawkey 10 intercept highlights strong mineralization despite limited true width disclosure at the project.
Wesdome Gold Mines Ltd. (WDO) reported one new drill hole, SH-26-001, at the Shawkey 10 target within the Kiena mine complex in Quebec. The primary intercept measured 106.5 m @ 3.1 g/t Au uncapped from 387.0 m to 493.5 m, with a capped grade of 2.6 g/t Au. This interval included higher-grade sub-intervals of 20.4 g/t Au over 10.8 m, 5.6 g/t Au over 6.2 m, and 3.1 g/t Au over 9.2 m.
An additional depth interval returned 23.4 m @ 1.6 g/t Au from 914.0 m, plus seven other intercepts above 1.0 g/t Au at depth. The company stated that the interpreted diorite host thickness more than doubled from about 80 metres to over 200 metres, with mineralization extending from surface to more than 700 metres true depth and remaining open.
SH-26-001 is a follow-up to S-21-831, which returned 72.0 m @ 2.3 g/t Au; the new hole approximately doubles that grade-thickness. Only one previously unreleased hole is shown in Table 1, despite 102 surface holes and 45 underground holes historically completed at Shawkey 10.
Wesdome Gold Mines Ltd. (WDO) is a producing gold miner with approximately 1.4 moz of proven and probable reserves, an eight-year reserve life, and a market capitalization near C$5 billion. The recent update constitutes a brownfield exploration release rather than a discovery by a pre-resource explorer, and it does not change current reserves, resources, or near-term mine plans. The release supports the conceptual Kiena East corridor, but no resource is yet defined, and the company itself calls the target early stage.
The stock has already re-rated from about $23-$24 in late June to $30-$36 by August on reserve updates, technical reports, earnings, buybacks, and the 2026-09-10 Kiena Deep result. The expectations bar is therefore elevated. Versus its own Shawkey 10 anchor of 166 gm, this is a positive 2x step-change. However, the earlier Kiena Deep release was stronger on grade-thickness and continuity at 446 gm with multiple holes.
The next-day close rose about 4.6%, consistent with an encouraging but not transformative drill update.
Wesdome Gold Mines Ltd. is a Canadian-focused gold producer listed on the TSX under WDO. Its core assets are the Eagle River underground mine in Wawa, Ontario and the Kiena mine complex in Val-d'Or, Quebec.
The company has set 2026 production guidance of 180,000-205,000 ounces of gold at an AISC of US$1,525-$1,700 per ounce, with a target of up to 230,000 ounces by 2028. Proven and probable reserves total about 1.4 moz at 7.9 g/t Au across both operations. Eagle River mill capacity is 1,200 tpd; Kiena mill capacity is 2,040 tpd.
Wesdome Gold Mines Ltd. maintains a strong financial position, with about $354 million cash at FY2025, an undrawn US$250 million credit facility, a new quarterly dividend, and expanded share buybacks.