Wesdome Gold Mines Ltd. (TSX: WDO) said it has received an updated Certificate of Authorization along with a mine lease for the Presqu’ile Zone, a near-surface gold deposit at its Kiena mine in Val-d’Or, Quebec.
The newly permitted zone has direct ramp access to surface and is expected to enter production ahead of schedule, the company said.
“Production from the Presqu’ile Zone is now expected to commence earlier than originally planned,” said president and CEO Anthea Bath. “Incremental ore from Presqu’ile is a key component in achieving Kiena’s 2026 production guidance and an important step in delivering our fill-the-mill strategy.”
Once fully ramped up, the Presqu’ile Zone is expected to contribute between 250 and 450 tonnes per day of additional ore to the Kiena mill.
Wesdome is a Canada-focused gold producer operating two high-grade underground mines: Eagle River in Ontario and Kiena in Quebec. On Tuesday, the company’s shares rose 3.3%, or 72 cents, to $22.61. The stock has traded between $13.76 and $27.64 over the past 52 weeks.
The permitting milestone follows Wesdome’s recent release of its fourth-quarter and full-year 2025 operating results, along with production guidance for 2026. The company expects gold output this year to range between 180,000 and 205,000 ounces as it continues to execute its fill-the-mill strategy and prepares for a mid-year mineral reserve and resource update.
Wesdome produced 185,575 ounces of gold in 2025, including 112,767 ounces from the Eagle River mine and 72,808 ounces from Kiena.
At Kiena, the company is continuing to invest in infrastructure and operational improvements to support future growth. Management said the mine is expected to benefit from a greater number of active mining areas, the development of a second portal, more consistent production from Kiena Deep, and incremental ore from the Presqu’ile Zone.
Wesdome has allocated $55 million to exploration in 2026, with spending focused on step-out drilling aimed at new discoveries and meaningful resource growth.
For 2026, Eagle River production is forecast at 105,000 to 115,000 ounces, with output evenly weighted between the first and second halves of the year. Average processed grades are expected to range between 13.0 and 14.0 grams per tonne, in line with reserve grades.
Kiena’s production guidance for 2026 is 75,000 to 90,000 ounces, with the midpoint representing a 13% increase over 2025 levels. The improvement is expected to be driven by enhanced stability at Kiena Deep and incremental contributions from the Presqu’ile Zone, with average processed grades projected at 8.0 to 9.5 grams per tonne.
