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More 'Impressive' Gold Assays Come from Miner's Quebec Project
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An Echelon Wealth Partners report reviewed the recent findings and their significance.

In a Sept. 11 research note, analyst Ryan Walker with Echelon Wealth Partners reported that Wesdome Gold Mines Ltd.'s (WDO:TSX) most recently announced drill results from Kiena showed down-plunge extension of the high-grade Deep A zone and up-plunge potential. "We view today's drill results as particularly positive," he added. "In all, we contend the results tend to suggest an increase in the likelihood of a positive restart decision at Kiena."

Assay results from the 14 holes are "impressive," indicated Walker. Highlights include:

  • Hole 6321: 177.3 grams per ton (177.3 g/t) gold (Au) over 5.1 meters (5.1m) true width (6.5 g/t)
  • Hole 6338: 163.8 g/t Au over 2.6m true width (13.1 g/t)
  • Hole 6339: 53.6 g/t Au over 5.3m true width (18.38 g/t cut)
  • Hole 6333: 37.3 g/t Au over 5.8m true width (6.8 g/t).

Walker explained that the results affirmed continuity of the Deep A zone mineralization and demonstrated a 50m extension down plunge to the southeast. Mineralization remains open there and in some areas down dip.

The company also identified a moderate, approximately 45-degree vertical plunge to the southeast. When considered with historical drill results, it suggests another extension, of 250m. "Such up-plunge extension is particularly important in that it could potentially add significant resources while at the same time, bring the zone closer (300m higher in mine elevation) to existing mine development," Walker pointed out. Wesdome plans to drill more there.

Looking forward, Walker pointed out that by October's end, the company intends to finish the part of its Kiena drill program that aims to delineate potential Deep A zone extensions to the northwest, southeast and down dip. The purpose of the drilling that is now underway, with four rigs, is to better define the resource for the maiden estimate, which is anticipated in Q4/18.

Echelon has a Speculative Buy rating and a CA$4.40 per share price target on Wesdome, whose stock is currently trading at around CA$3.44 per share.


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Disclosures from Echelon Wealth Partners, Wesdome Gold Mines Ltd., September 11, 2018

Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.

I, Ryan Walker, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.

Important Disclosures:
Is this an issuer related or industry related publication? Issuer.

Does the Analyst or any member of the Analyst’s household have a financial interest in the securities of the subject issuer? No

Does the Analyst or household member serve as a Director or Officer or Advisory Board Member of the issuer? No

Does Echelon Wealth Partners Inc. or the Analyst have any actual material conflicts of interest with the issuer? No

Does Echelon Wealth Partners Inc. and/or one or more entities affiliated with Echelon Wealth Partners Inc. beneficially own common shares (or any other class of common equity securities) of this issuer which constitutes more than 1% of the presently issued and outstanding shares of the issuer? No

During the last 12 months, has Echelon Wealth Partners Inc. provided financial advice to and/or, either on its own or as a syndicate member, participated in a public offering, or private placement of securities of this issuer? No

During the last 12 months, has Echelon Wealth Partners Inc. received compensation for having provided investment banking or related services to this Issuer? No

Has the Analyst had an onsite visit with the Issuer within the last 12 months? Yes. Kiena Mine Complex, Quebec – underground mine, mill, and ancillary buildings (July 18, 2018)

Has the Analyst or any Partner, Director or Officer been compensated for travel expenses incurred as a result of an onsite visit with the Issuer within the last 12 months? No

Has the Analyst received any compensation from the subject company in the past 12 months? No

Is Echelon Wealth Partners Inc. a market maker in the issuer’s securities at the date of this report? No

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