Drill Results
Wesdome Confirms New Parallel Zone at Kiena Deep and Extends Mineralization at Depth Across Multiple Eagle River Zones
Wesdome’s June drilling validates its 270km exploration pipeline, while a delayed NI 43-101 report tempers near-term catalysts.
Executive Summary
- Wesdome released exploration drilling results from its Kiena Deep and Eagle River assets, highlighting new high-grade mineralized corridors and extended zones.
- At Kiena Deep, drilling confirmed a new 150-metre vertical mineralized corridor in the Norbenite Footwall, including 6.9 g/t Au over 42.1 m, remaining open in all directions.
- Additional Kiena Deep intercepts include 33.9 g/t Au over 3.4 m (A Zone), 8.5 g/t Au over 4.7 m (A1 Zone), and 52.2 g/t Au over 4.3 m (A2 Zone), extending zones eastward.
- At Eagle River, step-out drilling extended the 800 Zone ~300 metres deeper, intersected a 618.2 g/t Au intercept in the 300 Zone, and confirmed broad intervals at Mishi and Cameron Lake targets.
- Management noted that these results post-date the January 2026 database cut-off for the upcoming year-end 2025 mineral resource update, which is now targeted for year-end 2026.
- Follow-up drilling is scheduled for the Norbenite Footwall, BZ1, 800 Zone, and 6 Central Zone in 2026.
Material Impact
- Routine - Positive. The exploration results are expected and telegraphed by the company's aggressive 2026 drilling plan. The delay of the NI 43-101 technical report to year-end 2026 is a minor negative but standard for late-year resource updates. The stock has already corrected from its May peak, pricing in the near-term timeline shift. There is no immediate NAV or production impact from this drill update alone.
WDO · Price
Company Overview
- Wesdome operates two producing gold mines in Tier-1 Canadian jurisdictions: Eagle River (Ontario) and Kiena (Quebec).
- The company focuses on high-grade underground gold mining with a "fill-the-mill" strategy to maximize throughput at both sites.
- Eagle River has a permitted capacity of 1,200 tpd, while Kiena has 2,040 tpd. Both are targeting 80%+ utilization.
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Jun 24, 2026 · 23:31