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Bullboard - Stock Discussion Forum West Red Lake Gold Mines Ltd V.WRLG

Alternate Symbol(s):  WRLGF

West Red Lake Gold Mines Ltd. is a Canada-based mineral exploration company. The Company is focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 square kilometers (Km2) land package in the Red Lake district of Ontario. The Company’s project also includes West Red Lake Project, which is situated on the Red Lake Archean Greenstone Belt, which hosts the high... see more

TSXV:WRLG - Post Discussion

West Red Lake Gold Mines Ltd > Goldman Sashs raises 12-month gold price target to $2,050
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Post by MarketMakerss on Nov 27, 2023 6:48pm

Goldman Sashs raises 12-month gold price target to $2,050

Prompting calls for a rally to a new all-time high, gold has been on an upward trajectory above $2,000 per ounce. With this, Goldman Sachs has raised its 12-month gold price target to $2,050 as the metal continues to shine amid US dollar movement. (Source: https://www.kitco.com/news/2023-11-27/Goldman-Sachs-raises-12-month-gold-price-target-to-2-050-as-the-metal-s-shine-returns.html)
 
Having recently drilled high-grade gold at both of its Red Lake District Gold Projects, West Red Lake Gold Mines (WRLG.v WRLGF) is one junior gold company with significant potential with a combined gold resource of 6.9M tons indicated and 4.6M tons inferred at two high-grade projects
 
Deemed a 'first-class acquisition that "couldn't be created today with less than $700M" from billionaire mining investor Frank Giustra, WRLG's flagship, the Madsen Gold Mine, is debt-free and fully permitted with a brand-new 800+ tonne per day mill.
 
Following six months of high-grade assays from the Rowan Gold Project, the Madsen results represent a new area of high-grade mineralization extending the current Madsen resource to the northeast
 
The latest drill results intersected27.15g/t Au over 10.28m and 22.31 g/t Au over 8.5m and expanded the resource north east.
 
[Highlights]
 
Sitting adjacent to the existing underground development, the zone is a high caliber target that could potentially be developed early during future mine restart and production as it remains open down-dip and along strike to the northeast and will continue to be a priority expansion target as underground drilling continues.
 
This news follows WRLG's previous significant step forward in de-risking its high-grade resource following additional positive metallurgical test results from its Rowan Mine Deposit, deeming the Rowan Deposit to be a future source of high-grade, easily recoverable gold ounces that could potentially add a significant boost to the overall production profile at Madsen.
 
For more information, check out the latest interview with WRLG from Mining Stock Daily regarding the Madsen and Rowan Thesis: https://podcasters.spotify.com/pod/show/mining-stock-daily/episodes/West-Red-Lake-on-the-MadsenRowan-Thesis-and-Financing-for-2024-e2c6etn/a-aaks54j
 
 
Posted on Behalf of West Red Lake Gold Mines Ltd. 
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