WRLG Unveils Robust Exploration Strategy for Madsen & Rowan Yesterday, West Red Lake Gold Mines Ltd. (Ticker: WRLG.v or WRLGF for US investors) revealed its comprehensive 2024 exploration plan for its primary Madsen Gold Project and satellite Rowan Gold Project. The company outlined its strategic goals for regional exploration activities, emphasizing the considerable potential of both the Madsen and Rowan Properties within the Red Lake Gold District.
At the Madsen Property, West Red Lake Gold plans to conduct regional mapping and geochemical sampling, focusing on the Confederation Assemblage of rocks, an area largely mostly unexplored since 2014, covering roughly half of the land package. This initiative, starting in May, aims to fully uncover the property's exploration potential by identifying new targets through detailed geological mapping and sampling.
Similarly, at the Rowan Property, the company is preparing for extensive exploration efforts. With minimal regional exploration since the 1980s, the property is believed to hold significant untapped potential.
Building on promising results from a preliminary orientation till sampling survey in 2023, West Red Lake Gold intends to expand its grid to cover more promising areas across the Rowan property in 2024. The exploration strategy at Rowan includes meticulous soil sampling and reconnaissance grids, using past survey results to identify and prioritize exploration targets.
Full 2024 plans: https://westredlakegold.com/west-red-lake-gold-outlines-2024-regional-exploration-strategy-for-madsen-and-rowan/
Regarding resource updates, West Red Lake Gold recently reported an updated Mineral Resource Estimate (MRE) for the Rowan Mine Deposit, indicating total Indicated and Inferred resources of approximately 312,000 ounces of gold, reflecting a 62% decrease from the previous inferred resource estimate of around 828,000 ounces of gold.
However, the updated MRE shows an improved gold grade of approximately 11 grams per ton (g/t) and adds approximately 196,000 ounces of gold to the higher confidence indicated category.
Red Cloud's recent report on West Red Lake Gold acknowledges the decrease in total gold resources at the Rowan Project compared to the 2022 estimate from the project's previous owners. However, the report suggests that the updated MRE is more realistic and geologically sound given the complex vein system.
Although there may be short-term impacts on the stock, Red Cloud argues that the updated MRE provides a solid foundation for future gold resource additions through drilling and supports future economic studies.
Additionally, it is important to note that Rowan is the secondary project to WRLG's flagship Madsen Gold Project.
Full report here: https://cdn-ceo-ca.s3.amazonaws.com/1j2v5e4-20240426-WRLG-Update.pdf
Posted on behalf of West Red Lake Gold Mines Ltd.