TSXV:WRLG - Post Discussion
Post by
MarketMakerss on Nov 06, 2023 4:48pm
Red Lake District Yielded Over 30M oz Gold
Having yielded over 30 million ounces of gold from high-grade zones and hosting some of the world's richest gold deposits, the Red Lake Gold District provides a range of major investment opportunities, however, with significant backing from Billionaire Mining Investor Frank Giustra, West Red Lake Gold Mines (WRLG.v WRLGF) has emerged as a high potential gold opportunity
Presenting a compelling story, WRLG's flagship, the Madsen Gold Mine, and the associated 47km squared highly prospective land package is debt-free and fully permitted with a gold resource of 6.9M tons indicated and 1.8M tons inferred as well as a brand-new 800+ tonne per day mill.
Notably, Giustra sees the Madsen Mine as a highly attractive and first-class acquisition that "couldn't be created today with less than $700M."
WRLG's second project in the Gold District is its wholly-owned Rowan Gold Project, located 15 km from the Madsen Mill. With an expansive property position covering 31km squared including three past-producing gold mines, Rowan has a total inferred resource of 2.8M tonnes.
Recently, WRLG drilled the highest-grade intercept across the property and successfully intercepted what is believed to be the same high-grade zone approximately 80 meters down-dip.
The continuation of the mineralization at Rowan bodes well for future expansion opportunities at the company as WRLG continues to extend the highly prospective mineralized vein zone at depth and along strike.
With additional assay results pending, WRLG has significant expansion and discovery potential in the near term as it continues to build high-grade resources in one of the richest gold districts in Canada.
Posted on Behalf of West Red Lake Gold Mines Ltd.
Be the first to comment on this post