West Red Lake Gold Mines Ltd V.WRLG

15% Close + Year-End Address

[MarketMakerss]

Closing up 15% on above-average volume, West Red Lake Gold Mines (WRLG.v WRLGF) President & CEO Shane Williams posted a year-end address highlighting the transformative year for the company: https://twitter.com/WestRedLakeGold/status/1737918666656850094

 

With the acquisition of the Rowan Gold Project in April 2023, WRLG forged a foothold in the Red Lake District and quickly exceeded expectations during the 2023 drill program which included the highest grade intercept ever drilled across the property.

 

Ontario's Red Lake Gold District is host to some of the world's richest gold deposits and has yielded over 30 million ounces of gold (and counting) from high-grade zones.

 

Rowan was followed by a "first-class acquisition" that's been called "the deal of the decade" by Jay Martin with WRLG's acquisition of the Madsen Gold Mine, an asset previously valued at one billion dollars, for "pennies on the dollar". The Mine is debt-free, fully permitted, and has a brand-new mill as well as a tailings and water treatment facility. Initial drilling at Madsen has returned high-grade intercepts with more drill results coming.

 

Focused on two main objectives, technical de-risking and building metal inventory through an aggressive exploration, before restarting production, WRLG is poised for a rapid development timeline with infill and expansion drilling, underground development, engineering studies a PEA and a PFS.

 

Additionally, WRLG's financial backing from billionaire mining investor Frank Giustra and his team is a strong vote of confidence as they have built many successful resource companies.

 

Boasting a combined gold resource of 6.9M tonnes indicated at a grade of 7.4 g/t and 2.8M tonnes inferred at 9.2 g/t, WRLG is on track to become a strong player in the industry.

 

Posted on Behalf of West Red Lake Gold Mines Ltd.