West Red Lake Gold Mines Ltd V.WRLG.WT.A

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

[MarketMakerss]

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

 

Full News Release: https://westredlakegold.com/west-red-lake-gold-intersects-27-15-g-t-au-over-10-28m-and-22-31g-t-au-over-8-5m-at-north-austin-zone-madsen-mine/

 

Posted on Behalf of West Red Lake Gold Mines Ltd.