WRLG.v Shares Projected Mine Re-start Date for Madsen Gold West Red Lake Gold Mines Ltd. (Ticker: WRLG.v or WRLGF for US investor) has shared a projected restart date for its high-grade Madsen gold mine set for the second half of 2025. This announcement follows an aggressive 12-month drill program aimed at confirming and extending multiple high-grade zones at the Madsen project.
The Madsen Gold Mine, fully permitted and equipped with a new 800+ tonne per day mill and a tailings and water treatment facility, currently hosts an NI 43-101 Indicated resource of 1.65 million ounces of gold grading 7.4 g/t gold, and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t gold.
WRLG's current focus is on the completion of a pre-feasibility study detailing the restart plan, which is targeted for release in early 2025. As part of the restart plan, several key programs are already underway or imminent:
- Connection Drift: A 1,200-meter haulage way to connect the East and West portals, enabling bigger trucks, more efficient routing, and better ventilation.
- Primary Crusher: Installation of a permanent primary crusher as part of the Madsen mill.
- Test Mining: Initiation of a test mining program to assess longhole stoping and cut-and-fill mining methods.
- Bulk Sample Analysis: Conducting bulk sample analysis to determine representative grades.
- Mine Camp and Dry Facilities: Installation of housing and transition facilities for workers.
- Evaporators: Installation of evaporator fans to enhance water management capacity.
- Shaft Rehabilitation: Continued dewatering and rehabilitation of the existing shaft.
This year, WRLG is conducting a substantial drilling program that will total up to 39,000 meters, divided between resource definition drilling (70%) and resource expansion drilling (30%). This program aims to increase resource confidence and test top targets such as the Austin extension and the 8 Zone down plunge extension target.
The drilling program has already yielded significant results. On June 11, 2024, WRLG reported high-grade drill results from the South Austin Zone, including:
- 8m @ 16.69 g/t Au, including 1m @ 127.98 g/t Au
- 17.83m @ 6.17 g/t Au, including 1m @ 30.05 g/t Au
- 12m @ 7.48 g/t Au, including 1m @ 73.56 g/t Au
- 3.1m @ 21.33 g/t Au, including 0.5m @ 32.74 g/t Au
- 2.48m @ 25.77 g/t Au, including 0.98m @ 64.35 g/t Au
These results have extended parts of South Austin, added confidence in known areas, and defined a new footwall lens running sub-parallel to the South Austin zone.
WRLG's CEO, Shane Williams, is known for his expertise in moving mineral assets along the development chain into production and has previously designed, built, and operated mines in Greece, Turkey & Canada.
“With a year of work under our belts at Madsen, we know what needs to be procured, built, and developed over the next six to twelve months to achieve our goal of restarting the mine in 2025,” stated Williams.
WRLG’s major shareholder and prolific mining investor Frank Giustra commented on the broader economic context, noting that excessive printing of U.S. dollars is diminishing their value. He suggested a global shift towards dedollarization, as nations explore alternatives to the U.S. dollar for trade settlements, potentially favoring gold.
With the Madsen project advancing methodically and significant progress in both drilling and infrastructure, WRLG is well-positioned to restart the Madsen mine in the latter half of 2025, bringing substantial benefits to the company and its stakeholders.
Full news here
[url=https://ceo.ca/@thenewswire/west-red-lake-gold-now-has-a-projected-mine-re-start][/url]
Posted on behalf of West Red Lake Gold Mines Ltd.