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Vancouver, BC, August 22, 2024 – TheNewswire – Global Stocks News – Sponsored content disseminated on behalf of West Red Lake Gold. On August 20, 2024 West Red Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF announced the start of a 2024 surface drilling program across its 100% owned Madsen Mine Property located in Ontario, Canada.
“After completing a thorough review of the available geologic data for the Madsen property, our team has generated some new exploration concepts and identified a number of highly prospective targets that share characteristics with known resource areas,” stated Will Robinson, VP of Exploration in the August 20, 2024 PR.
“We had originally planned to do follow up drilling at Rowan, where we have high confidence ounces and a strategy to grow the resource,” Robinson told Guy Bennett, the CEO of Global Stocks News (GSN). “But given the time it will take to get Rowan plugged into our production pipeline, we decided to allocate 2024 flow-through exploration dollars to areas closer to Madsen.”
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“After conducting a systematic evaluation of all available geological data, we selected drill targets positioned along the primary Madsen structural trend, with proximity to the Russet Lake and Venus ultramafic units,” said Robinson.
“There is a 3-to-4-kilometer structural trend northeast of Madsen that has had very little drilling done on it. Along this trend we already have Madsen, then two kilometers to the southwest, we've got the Starratt-Olsen Mine, which historically produced 160,000 ounces. We have another deposit, Wedge, along that same trend. There’s a lot of blue sky to the northeast.”
“The trend loosely follows the Balmer-Confederation Unconformity,” added Robinson. “We’re looking for splays - or second order fractures – which can host thick veins of gold. The splays tend to come off at predictable orientations, which is helping us design an efficient drill program.”
“In this surface program, the drill holes will be 300-500 meters deep. We’ll be assaying the core from the collar down to the bottom, treating them like pure exploration holes.”
“Re-starting the mine is our primary focus,” Robinson told GSN, “But we are concurrently pursuing opportunities to make new high-grade discoveries.”
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WRLG plans to drill up to 10,000 meters of NQ diamond drill core, testing a number of high-priority targets across the Madsen property.
Drill targets were selected based on:
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their position along primary structural trends
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proximity to the Russet Lake and Venus ultramafic units
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periodicity along strike of the main Madsen structural corridor relative to known mineralized splays (Fork, McVeigh and North Austin)
WRLG recognized this periodicity of known mineralized splays along the Madsen structural corridor through an evaluation of deposit-scale structural relationships.
The average spacing between these known mineralized splays is approximately one kilometer. Interpretation of the regional aeromagnetic dataset, which was flown in 2014, suggests that additional splays could be present along strike from Madsen to the northeast.
TARGET DESCRIPTIONS:
Upper 8
The Upper 8 target is a shallower geologic analog to the well-known high-grade 8-Zone and positioned within the same lithologic unit (Russet Lake Ultramafic) approximately 750m up-plunge from the main 8-Zone.
MJ
The MJ target is currently a high-grade portion of the Wedge resource. It is also an 8-Zone analog hosted within two concordant shear zones up to 40 meters in width and characterized by deformed gold-bearing quartz veins hosted within altered and deformed basalt and peridotite within the Russet Lake Ultramafic.
North Venus
The North Venus target is located approximately 2km northeast along strike from the North Austin zone. The geophysical signature at North Venus displays a very similar magnetic response in size, orientation and magnitude to the Fork splay.
North Starratt
The Starratt Mine is located approximately 2km southwest of the Madsen Mine and was the second largest past producer on the Madsen property with ~164 koz of gold produced between 1948-1956 [4.]
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On June 5, 2024 WRLG stated that the company “has a goal to restart the high-grade Madsen gold mine in the second half of 2025.”
WRLG CEO Shane Williams’ specific expertise is moving mineral assets along the development chain into production, on schedule and on budget. He has designed, built and operated mines (open pit and underground) in Greece, Turkey and Canada - for Skeena Resources, Eldorado Gold and Rio Tinto.
Much of the required work is happening behind the scenes on a pre-feasibility study detailing the restart plan. This study is targeted for release in the coming months.
Mine restart projects underway or imminent include: underground development including access to planned near-term mining areas and a 1.2-km tunnel to connect the two sides of the mine, installation of a permanent primary crusher, test mining, mining camp construction, building staff facilities, installation of evaporator fans and a tailings dam lift.
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The Madsen Gold Mine is fully permitted and has a brand-new 800+ tonne per day mill, a tailings and water treatment facility. [1]
The Madsen Mine deposit presently hosts an NI 43-101 Indicated resource of 1.65 million ounces of gold grading 7.4 g/t gold and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t gold. [2.] [3.]
The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.
Contact: guy.bennett@globalstocksnews.com
Disclaimer: West Red Lake Gold paid Global Stocks News (GSN) $1,500 CND for the research, writing and dissemination of this content.
Full Disclaimer: GSN researches and fact-checks diligently, but we can not ensure our publications are free from error. Investing in publicly traded stocks is speculative and carries a high degree of risk. GSN publications may contain “forward-looking statements” such as “project,” “anticipate,” “expect,” which are based on reasonable expectations, but these statements are imperfect predictors of future events. When compensation has been paid to GSN, the amount and nature of the compensation will be disclosed clearly.
References:
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SRK Consulting. (2021). Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada (West Red Lake Gold Mines, Ed.) [Review of Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada.
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Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc., and dated June 16, 2023, and amended April 24, 2024. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca
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Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc., and dated June 16, 2023, and amended April 24, 2024. The Madsen Resource Estimate has an effective date of December 31, 2021 and excludes depletion of mining activity during the period from January 1, 2022 to the mine closure on October 24, 2022 as it has been deemed immaterial and not relevant for the purpose of the updated report. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca
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Website: Ministry of Northern Development, Mines, Natural Resources and Forestry. “MDI52K13NW00011 – Ontario Geological Survey.” Geology Ontario. Accessed August 15, 2024.
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