West Red Lake Gold Mines Ltd V.WRLG

WRLG Intersects Additional High Grade Results

[MarketMakerss]

Following gold prices hitting a record high of $2,100, West Red Lake Gold Mines (WRLG.v WRLGF) has intersected 47.44g/t Au over 3.2m, 21.64 g/t Au over 7m and 296.83 g/t Au over 1m at the South Austin Zone at the Madsen Mine in the prolific Red Lake Gold District.

 

The South Austin Zone currently contains an indicated mineral resource of 474,600 ounces grading 8.7 g/t Au with an additional inferred resource of 31,800 oz grading 8.7 g.t Au.

 

Successfully demonstrating the high-grade nature and continuity of the South Austin Zone, these results highlight the resource growth potential that exists within the area.

 

Marking it as a high calibre target, further exploration potential exists down-plunge which could potentially add to the unmined portion of the zone, sitting adjacent to existing underground infrastructure.

 

WRLG President & CEO, Shane Williams, commented,

"It is worth restating that the impressive results reported thus far from South Austin and North Austin represent growth to the existing Madsen resource inventory and underscore the high-grade expansion potential that still exists at the Madsen deposit. We fully intend to continue unlocking this value as drilling continues.”

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 intersected 27.15g/t Au over 10.28m and 22.31 g/t Au over 8.5m and expanded the resource northeast.

 

This news follows Sprott's investment of US$2,631,463 into WRLG, as well as the closure of WRLG's brokered private placement offering for gross proceeds exceeding $15 million with the net proceeds to be used to advance WRLG's mineral properties in Ontario. Company insiders took a portion of the offering as well, emphasizing their confidence.

 

Full News Release: https://westredlakegold.com/west-red-lake-gold-intersects-47-44-g-t-au-over-3-2m-21-64-g-t-au-over-7m-and-296-83-g-t-au-over-1m-at-south-austin-zone-madsen-mine/

 

Posted on Behalf of West Red Lake Gold Mines Ltd.